Real estate brokers Senegalese real estate market . They act as intermediaries between buyers and sellers and can even act as business introducers for real estate agencies that choose to work with them. They leverage their personal networks to find properties that match the client's requirements. While some brokers operate honestly, it's unfortunately common knowledge that some are simply looking for victims to defraud. For those who are uninformed, the risk of being scammed is very real. That's why this article will help you recognize certain broker tactics and avoid falling into their traps.
Real estate broker in Senegal: a murky business
The very concept of a real estate broker is somewhat vague when referring to its primary meaning. We could just as easily call them a " real estate negotiator " or even a " real estate agent ," since the job is essentially the same. For example, the broker is responsible for finding buyers for a property owner's real estate. They receive their commission once the sale is finalized.
The problem is that most of the time, these people do n't actually have a legal status to regulate their activity. Or, if they do, the type of activity mentioned in their legal documents is quite vague or unrelated to real estate. And even if the person is competent and very knowledgeable about the business, you should know that there aren't always any guarantees behind them. Therefore, if a transaction were to go wrong, you would be in a difficult position.
One activity among others
Real estate brokers in Senegal are no exception to the local model, where many people hold multiple jobs. Therefore, in addition to selling real estate, brokers may well combine their work with selling food or cars. While this demonstrates versatility and open-mindedness, it doesn't necessarily imply a lack of specialization. At Keur-Immo , we believe that the real estate agency (and the real estate agent ) is the only element that brings genuine added value to the buyer during a transaction. Therefore, it's a full-time job when done properly. Some say there aren't enough hours in the day to do this job, so when you mention having one or two other jobs on the side…
Beware of certain practices
As we mentioned earlier, the real estate broker profession in Senegal is sometimes viewed negatively due to the unscrupulous practices of some brokers. For example, charging someone to view a property that is neither for sale nor for rent. Unfortunately, you may also encounter brokers who will always find an excuse not to show you the property (the classic "the owner is on vacation") and thus lure you into a trap by asking for a "deposit" to reserve the property, even though you've only seen photos. Finally, we warn you against prices that are unrealistic and disconnected from market realities. This is undoubtedly a scam.
In summary: Never give any money without having visited the property, insist on seeing it and always ask to see the documents relating to the accommodation.
The outlandish fees
Among the questionable practices, one in particular deserved its own paragraph due to its frequency. As the title suggests, it's not uncommon for a real estate agent in Senegal to contact you after seeing, for example, on a Facebook page, that you're trying to sell your property yourself. They'll contact you, offer their services to find a potential buyer, and ask for your net selling price, to which they'll add their fees. Of course, if you're unaware of this, you'll provide this information and not sign any sales mandate. Within fifteen minutes, your property will be listed on every Facebook page and other classifieds portal with a 30% commission on top of your net selling price. In the industry, this is called "burning out" a property, because people will see the ad, remember the ridiculously low asking price, and move on. As a result, selling it will prove extremely difficult. All this is driven by pure and simple greed, and a complete disregard for the ethics that should characterize someone claiming to be a real estate professional. Don't fall into this trap.
Choose a certified real estate professional
As we mentioned earlier, not all brokers are crooks, and some practice their profession honorably. It makes you wonder why they don't open their own real estate agencies to fully express their talent. At Keur-Immo, we always advise you to entrust your property or your search to a real estate agent. Only a professional can guarantee a smooth transaction, with continuous support from start to finish.
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