Real estate brokers in Egypt aren’t really viewed too well in most circles. In fact, it’s probably the worst position to be in. While this may be the case for some brokers, there are so many great real estate firms in Egypt who put integrity and honesty above money that there aren’t really any bad apples.
The reason a real estate broker can be viewed so poorly in the U.S. is because of the way the government regulates these professionals. Most brokers are not licensed. This means that they’re essentially operating as their own personal agent with no oversight from the state to which they belong. This is why most of them are “call centers” for all sorts of things from mortgage brokering to estate planning.
This has resulted in all sorts of problems for American real estate agents in the past. For instance, the American Bar Association has been looking into cases where lawyers have done “brokerage work” for people who weren’t really interested in getting the deal done.
There was also a major scandal involving a real estate agent in California who was said to have engaged in illegal business transactions, including fraud and identity theft. The attorney general of California eventually sued the agent for his crimes and won a big settlement for the state. In response, the agent had his license suspended and he was fined several million dollars, which he had to repay.
Despite the fact that the agent’s license suspension is now on hold, this doesn’t mean that there aren’t any brokerages in Egypt who put integrity and honesty above money and do a really great job for people who wish to purchase a property. The problem is simply that people tend to think of Egyptian real estate as second-class and that’s why most people choose to go with other countries that don’t take broker fees into consideration.
A real estate agent in Egypt is very well respected and seen as someone who can help people get through tough times. Many of those who’ve bought properties in Egypt feel like they’re part of a home away from home. and haven’t even considered leaving since they got involved with a broker. They also have a great sense of pride about their investment.
If you’re considering purchasing a home in Egypt and want to know how to choose a good broker, it helps to know what they need to be able to help you out. This includes a good understanding of the local market and the different types of property that are being offered.
Egyptian real estate brokers will be able to provide you with the best deals for your money in the real estate industry if they work with you. If you understand that you can work with them and that you can get a great deal on a home, then you’ll find that you get more out of a relationship with a good real estate broker than with any other kind of broker that you can find in the U.S.