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Monday, February 26, 2007
Romanian Real Estate Companies
There are plenty of those in Bucharest. More than you can imagine. However, that does not mean all of them have a clear idea that they make money from the commissions their customers pay. So rudely hanging up on a potential customer is not such a big deal for them. After all, who cares?

This attitude might shock you at first. But after you think for a few minutes, it is all quite clear. The demand for apartments (to rent or to buy) is almost inelastic. People need a place to live in and the prices are always growing. As living in the North Station or at a hotel are really not viable alternatives, customers depend on agencies to find an apartment for them. Or to find buyers or tenants.

For such an agency, both the owner and the buyer/future tenant have to pay a commission. The issue is that returning customers are a factor to consider. So, if you know what’s good for you, you’ll act nice. Tenants don’t stay forever, so you may gain customers that always come to you when they need to move. Maximize your profit, that’s the idea! Yes, customers are pretty much everywhere, but what if some other company manages to turn most of them into return customers?

Now, some more complaining: I hate calling hundreds of people for hundreds of ads! I hate that the ads are already obsolete on the day the ad paper is published, that very morning, not later in the day. OK, now I feel better. Back to my search!

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posted by Alina @ 2:09 PM  
  • At 2/26/2007 5:05 PM, Blogger Ryan said…

    I don't do agencies, mostly because I don't agree with the policy of paying a commission just to see a potential apartment. So I'm stuck with the hundreds of calls to hundreds of people, hundreds of whom found an easy way to be called on their Pre-Paid number, to gain credit: place an interesting ad, then just tell everyone who calls the offer is not valid anymore.

  • At 2/26/2007 5:27 PM, Blogger Alina said…

    Ryan, you only pay the commission if you rent the apartment. It also means the agency will do the paperwork for you. As for people that rent their apartments directly, the are way too few.

  • At 2/26/2007 8:54 PM, Blogger Ryan said…

    Maybe that's how things work in Bucharest, but around these here parts, the agent won't give you the address of the apartment until you payed a commission (but don't let that fool you - if you decide to rent the apartment you payed to see, you have to pay another commission, the one you're referring to...)

  • At 2/27/2007 3:14 PM, Blogger Alina said…

    That really sucks! I wouldn't work with agencies either if they had such a policy.

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Name: Alina
Home: Bucharest, Bucharest, Romania
About Me: "This is my church. This is where I heal my hurts". It's also where I feel free and my preferred means of expression.
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