Cyprus-Forum.com

[hincyprus]

no names, no pack drill but my own son is a developer.....British based in Limassol.

His first 5 houses were all delivered on time, there were no extras other than requested by the new owners. Any extras that were asked for were costed and agreed at the time and added to a spec sheet in both parties possession with copy to the clients lawyers....

All the houses included, C/H, A/C, all kitchen appliances, granite worktops, choices of kitchens, high tile value, swimming pools etc etc etc.

I regret to say that house number 6 will be delivered 12 days late next Monday but it was delayed by the fitted kitchen.....

The customer wanted one from England and the delivery to their supplier was late.....So not sons fault...........

I just wonder thougfh why he has so few enquiries from Brits.......The answer is, that the Cypriot Estate Agents dont bring people to an English developer.


Oh, well carry on regardless

h

[Svetlana]

Good Morning Howard

In my experience, Estate Agents are pleased to sell anything; so they prefer do business with developers, irrespctive of nationality, who:

i) are easy to deal with, ie have good marketing collateral, respond quickly to enquiries and information requests and ensure price and availability lists are kept up to date. Estate Agents hate firing a customer up about a property, to find a phone call later it was sold a month ago!

ii) have attractive properties which are easy to sell. An Estate Agent will choose to take a client to a development whcih is easier to sell than one that is not.

iii) offer incentives (higher commission, bonuses) and pay promptly.

Lana

[hincyprus]

Sorry Lana, wish I could agree with you.

The largest estate agents on the island were the first to be given the first development.

After a couple of months of nothing, we sent in a "mystery shopper", who asked for the size, price, and village (very popular village) where the development was situated. They took the shopper to several developments...............guess what.......they did not visit ours.

When questioned a week or so later , as to whether Mr X happened to be a customer of theirs, as he was interested in a house and had been speaking with my son. Their reply was, "Oh yes we took him to see your houses last week"........


needless to say they no longer carry my sons developments.

Other agents are receiving exactly the commision asked for and still do not bring people along.

And believe me....the houses are superb....especially in quality of finish, and not over priced.

How are you any way...long time no speeky.....

In Uk next week , back on 20th.

H

[Svetlana]

Hi Howard

This must be very frustrating for your son; perhjaps you will pm me his company's name (N-S perhaps?).

I have some experience in this field and as I said, what has driven E/A is 'Who will make me most money?'

BTW who was the E/A you referred to? Superior ae the largeast in Cyprus; BUYSELL that well known 'technology company' as they like to be known were issued with an injunction on Thursday, along with Parador Properties, forbidding them to 'act as Estate Agents', as they are both unlicensed, of course!

Lana

[coredump]

BUYSELL that well known 'technology company' as they like to be known were issued with an injunction on Thursday, along with Parador Properties, forbidding them to 'act as Estate Agents', as they are both unlicensed, of course!

In my opinion instead of making such injunctions the goverment should reform that ridiculous protectionist estate agent licensing law.

[hincyprus]

I agree with core dump about protectionism, which is of course rife here on the island.

Bring on the free market, everywhere......but thats another subject.

We must remember that this is a small island and everyone is inter related (Ok, not all I accept). What my son was and is finding is that the agents don't want to work for their money, which is a horrendous 5% minimum. With the exception of one agent who has been in contact recently and brings clients along, all the others, when they can be bothered to actually introduce a client to him, just phone and expect him to do their work for them.....

The only regular introducer of clients is an English girl based in Limassol.

With regard to Lana's point of greater incentives to the agents, I think not. His margins are nothing like those shown by most developers and we know of one developer (very big project) who is currently offering agents more commission than my son makes as a gross profit !!!!!!!

Many developers then increase their margins with the dodgy extras we are all aware of......

I am not about to name any names on a forum, but we were aware of the situation with regard to the "pseudo estate agents" and the possibility of court action.

The Techno company you mention have been running very close to the line and my personal view is that they may well be forced out.

I wonder though, how many members of the estate agents association are related to members of the government?????

Well, I suppose I could rant on for ever on this subject but .....I think not.

To all buyers of cyprus properties who may be reading this, let me also remind you that it is not only the developers who are often bent, but the architects, lawyers and of course the builders......thereby lies yet another story which I am sorry that I cannot yet relate to the forum.

When our case against the developer and our architect comes to fruition, I will reveal all.

I still like living here though.......the niggles I am learning to live with.

H

[Svetlana]

BUYSELL are in Court today, for allegedly ignoring the Court Order.

As for members of the Cyprus Real Estate Agency members being related to members of the Government... allegedly, a BIG name unlicensed E/A moved in next door, in Larnaca, to a small registered licensed E/A, who was subsequently driven out of business. The latter happened to be the neice of a President (or ex President) and suddenly we have a new law and the BIG E/A is in the firing line.

None of this is true, I am sure, just a rumour

Lana

[cyprusgrump]

I presume that the thousands of overseas ‘agents’ that bring clients to developers in Cyprus and receive commission for their efforts are immune to such laws?

Makes a mockery of the whole thing really.

[Svetlana]

Hi Cyprusgrump

If they are operating overseas, they are not illegal as Cyptiot law does not cover oversaes activities; if they are opearting in Cyprus then they are working illegally.

Lana

[cyprusgrump]

Hi Cyprusgrump

If they are operating overseas, they are not illegal as Cyptiot law does not cover oversaes activities; if they are opearting in Cyprus then they are working illegally.

Lana

Crazy eh?