Real estate brokers in Bulgaria. Do you need to be assisted by a real estate agency in Bulgaria?

The term real estate broker according its definition describes a party who acts as an intermediary between sellers and buyers of real estate and attempts to find sellers who wish to sell and buyers who wish to buy "Real estate broker", Wikipedia, The Free Encyclopedia, http://en.wikipedia.org/wiki/Real_estate_broker, (accessed August 17, 2009).

It is important to know that in Bulgaria the Real brokers activity is not regulated by a special law. The relation is based on the Bulgarian Law of obligations (ЗЗД). Logically a person or firm is not required to have a license in order to receive remuneration for services rendered as a real estate broker. There are no state requirements and standards for professional ability and qualification of the real estate brokers. That leads that the spectrum of the real estate agencies in Bulgaria is very large from the beginners to the well established agencies. But you need to know is that the personal relation to your real estate broker is very important. You can work with a little firm but still establish a trustworthy relationship. Now in Bulgaria the crisis leads to a considerable reduction of the personal of all the real estate agencies. What really matters is their contacts what can the really offer to you or how they can help you to sell your property.

So the point is:

Do you need to be assisted by a Real estate agency?

Answer

You are not legally obliged to be assisted by a real estate firm in order to sale purchase a real estate property. But it is a practical necessity. You need the service of a good agency if you want to find the place of your dreams.

As a barrister i would give an advice to find a lawyer before finding a real estate agency or as soon as reasonably possible. In fact the interests of the real estate agency is to sell, the interest of the barrister is to protect his client's interests.