24EstateAgents information guide

The International Guide to Choosing and Working With Estate Agents

How to Select the Right Agent, Understand Their Role and Get Better Results When Buying, Selling or Letting Property

A good estate agent can save time, reduce risk and materially improve the outcome of a property transaction.

A poor one can:

* misprice a property;

* lose momentum;

* communicate badly;

* introduce weak buyers;

* create unrealistic expectations;

* mishandle negotiations;

* and make an already stressful process harder.

The challenge is that estate agency works differently around the world.

In some countries:

* one agent may represent the seller.

In others:

* buyers regularly appoint their own agents.

Some markets use:

* exclusive agency agreements.

Others rely heavily on:

* multiple listing systems;

* developer sales networks;

* portals;

* introducers;

* and independent brokers.

Commission structures, licensing, disclosure requirements and legal responsibilities can all vary by jurisdiction.

So rather than asking:

**“Which agent has the biggest office?”**

ask:

**“Which agent is best equipped to achieve my objective in this particular market?”**

Index

Guide Index

  1. PART ONE — FIRST DEFINE WHAT YOU NEED THE AGENT TO DO
  2. SELLING A PROPERTY
  3. BUYING A PROPERTY
  4. LETTING A PROPERTY
  5. INVESTMENT PROPERTY
  6. LUXURY PROPERTY
  7. NEW DEVELOPMENTS
  8. PART TWO — UNDERSTAND THE DIFFERENT AGENCY MODELS
  9. Multiple Agency
  10. Exclusive Rights
  11. Open Listing
  12. Buyer Representation
  13. Dual Agency
  14. Developer Agency
  15. PART THREE — HOW TO SHORTLIST AN AGENT
  16. Relevant Local Experience
  17. Relevant Property Experience
  18. Recent Transactions
  19. Buyer Database
  20. International Reach
  21. Communication
  22. PART FOUR — THE VALUATION TEST
  23. Ask for Evidence
  24. Sold Prices Matter More Than Asking Prices
  25. Comparable Means Comparable
  26. Overvaluation Can Damage a Sale
  27. Underpricing
  28. Ask the Agent to Defend the Number
  29. PART FIVE — MARKETING THE PROPERTY
  30. Photography
  31. Floor Plans
  32. Video
  33. Virtual Tours
  34. Property Description
  35. Portals
  36. Social Media
  37. Email Marketing
  38. Signboards
  39. Private Marketing
  40. PART SIX — QUALIFYING BUYERS
  41. Financial Position
  42. Chain or Dependency
  43. Motivation
  44. Viewings
  45. PART SEVEN — NEGOTIATION
  46. The Highest Offer Is Not Always the Best Offer
  47. Do Not Negotiate Against Yourself
  48. Counteroffers
  49. Multiple Offers
  50. Emotional Negotiation
  51. PART EIGHT — FEES AND COMMISSION
  52. Cheapest Is Not Always Cheapest
  53. Ask What Is Included
  54. Withdrawal Fees
  55. Marketing Charges
  56. Referral Fees
  57. PART NINE — THE AGENCY AGREEMENT
  58. Term
  59. Commission Trigger
  60. Continuing Liability
  61. Marketing Rights
  62. Data Use
  63. PART TEN — BUYING THROUGH AN ESTATE AGENT
  64. Ask Who the Agent Represents
  65. Do Your Own Due Diligence
  66. Verify Important Statements
  67. “Guaranteed Returns”
  68. PART ELEVEN — BUYING PROPERTY ABROAD
  69. Local Market Practice
  70. Foreign Ownership
  71. Currency
  72. Tax
  73. Local Legal Representation
  74. Translation
  75. PART TWELVE — SELLING PROPERTY INTERNATIONALLY
  76. International Pricing
  77. Cross-Border Buyers
  78. PART THIRTEEN — NEW-BUILD AND DEVELOPER SALES
  79. Show Homes
  80. CGI
  81. Build Specification
  82. Completion Date
  83. Stage Payments
  84. Developer Track Record
  85. PART FOURTEEN — PROPERTY INVESTMENT AGENTS
  86. Yield
  87. Occupancy
  88. Costs
  89. Exit Market
  90. PART FIFTEEN — LETTING AND PROPERTY MANAGEMENT
  91. Tenant Selection
  92. Rent Collection
  93. Maintenance
  94. Inspections
  95. Emergency Management
  96. PART SIXTEEN — TECHNOLOGY AND MODERN ESTATE AGENCY
  97. Portals Create Visibility
  98. Automated Valuation
  99. CRM
  100. AI
  101. PART SEVENTEEN — WARNING SIGNS
  102. BEWARE OF FAKE LISTINGS
  103. Payment Fraud
  104. Licensing
  105. PART EIGHTEEN — QUESTIONS TO ASK BEFORE APPOINTING AN AGENT
  106. PART NINETEEN — QUESTIONS BUYERS SHOULD ASK THE AGENT
  107. PART TWENTY — THE RIGHT AGENT SHOULD CREATE VALUE
  108. ESTATE AGENT SELECTION SCORECARD
  109. Frequently Asked Questions
  110. PRACTICAL 24ESTATEAGENTS EXAMPLES
  111. EXAMPLE 1 — SELLING A FAMILY HOME
  112. EXAMPLE 2 — TWO OFFERS, BUT THE HIGHEST IS NOT NECESSARILY BEST
  113. EXAMPLE 3 — THE PROPERTY THAT HAS BEEN OVERVALUED
  114. EXAMPLE 4 — CHOOSING BETWEEN A LARGE BRAND AND A LOCAL INDEPENDENT
  115. EXAMPLE 5 — BUYING AN OVERSEAS HOLIDAY PROPERTY
  116. EXAMPLE 6 — THE "8% RENTAL RETURN"
  117. EXAMPLE 7 — A NEW DEVELOPMENT PURCHASE
  118. EXAMPLE 8 — THE BUYER WHO THINKS THE AGENT REPRESENTS THEM
  119. EXAMPLE 9 — SELLING A LUXURY PROPERTY
  120. EXAMPLE 10 — SELLING AN INVESTMENT PROPERTY WITH A TENANT
  121. EXAMPLE 11 — THE AGENT WITH 10,000 BUYERS
  122. EXAMPLE 12 — THE LANDLORD CHOOSING A LETTING AGENT
  123. EXAMPLE 13 — CHEAP MANAGEMENT THAT BECOMES EXPENSIVE
  124. EXAMPLE 14 — THE OVERSEAS INVESTOR WHO NEVER VISITS
  125. EXAMPLE 15 — FOREIGN-CURRENCY RISK
  126. EXAMPLE 16 — THE AGENT WHO SELLS THE AREA, NOT JUST THE PROPERTY
  127. EXAMPLE 17 — THE PROPERTY WITH 40 VIEWINGS AND NO OFFER
  128. EXAMPLE 18 — FEEDBACK THAT ACTUALLY HELPS
  129. EXAMPLE 19 — THE FALLEN-THROUGH SALE
  130. EXAMPLE 20 — THE DEVELOPER CHANNEL-PARTNER MODEL
  131. EXAMPLE 21 — THE SAME DEVELOPMENT FROM MULTIPLE AGENTS
  132. EXAMPLE 22 — SELLING BEFORE BUYING
  133. EXAMPLE 23 — A PROPERTY THAT NEEDS RENOVATION
  134. EXAMPLE 24 — THE AGENT WHO SAYS “I HAVE A BUYER”
  135. EXAMPLE 25 — WHY FOLLOW-UP MATTERS
  136. HOW 24ESTATEAGENTS FITS INTO THESE SCENARIOS
  137. A PRACTICAL EXAMPLE OF THE 24ESTATEAGENTS NETWORK
  138. A SELLER EXAMPLE
  139. A BUYER EXAMPLE
  140. AN AGENT EXAMPLE
  141. THE PRINCIPLE
  142. PROPERTY IS LOCAL — BUYERS ARE INCREASINGLY GLOBAL
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PART ONE — FIRST DEFINE WHAT YOU NEED THE AGENT TO DO

There is no single “best estate agent”.

The right choice depends on the assignment.

You may need an agent to:

  • sell a family home;
  • sell an investment property;
  • find an overseas property;
  • market a development;
  • source an off-market opportunity;
  • locate a tenant;
  • manage a rental;
  • advise on pricing;
  • negotiate a purchase;
  • or handle a portfolio.

Each requires a different skill set.

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SELLING A PROPERTY

A seller normally needs an agent who can:

  • price accurately;
  • position the property;
  • prepare marketing;
  • generate enquiries;
  • qualify buyers;
  • conduct viewings;
  • negotiate offers;
  • and maintain progress through to completion.

The best salesperson is not necessarily the agent offering the highest valuation.

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BUYING A PROPERTY

In some markets, buyers commonly work directly with selling agents.

In others, a dedicated buyer's agent may:

  • search across the market;
  • identify suitable properties;
  • arrange inspections;
  • investigate comparable values;
  • negotiate;
  • and coordinate local professionals.

Understand who the agent represents.

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LETTING A PROPERTY

A letting agent may provide services such as:

  • advertising;
  • tenant enquiries;
  • viewings;
  • referencing;
  • deposits;
  • tenancy administration;
  • rent collection;
  • inspections;
  • maintenance;
  • and property management.

The exact scope should be clearly defined.

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INVESTMENT PROPERTY

Investors need more than attractive photographs.

An investment-focused agent should understand:

  • rent;
  • occupancy;
  • operating expenses;
  • local demand;
  • resale;
  • service charges;
  • management;
  • and regulatory issues.

A strong residential sales agent may not be a strong investment adviser.

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LUXURY PROPERTY

At higher values, the agent's ability to access qualified buyers may matter more than generating large numbers of enquiries.

Luxury property sales can involve:

  • privacy;
  • international buyers;
  • family offices;
  • private introductions;
  • relocation;
  • and off-market marketing.
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NEW DEVELOPMENTS

Developer property requires a different approach.

Agents may work as:

  • direct developer representatives;
  • external channel partners;
  • independent brokers;
  • or buyer representatives.

Buyers should understand exactly who is paying the agent and whose interests they represent.

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PART TWO — UNDERSTAND THE DIFFERENT AGENCY MODELS

Sole Agency

A seller appoints one agent for an agreed period.

Potential advantages:

  • one accountable agent;
  • consistent marketing;
  • focused negotiation;
  • and straightforward communication.

But the quality of that one appointment matters enormously.

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Multiple Agency

Several agents may be instructed.

This can potentially increase exposure.

It can also create:

  • duplicated listings;
  • inconsistent pricing;
  • poor control;
  • and agents competing to close quickly rather than maximise value.
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Exclusive Rights

Some agency agreements provide an agent with rights to commission during the agreed period even if the seller finds the buyer independently.

Always read the agreement carefully.

Terminology and legal effect vary by jurisdiction.

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Open Listing

Some markets allow multiple agents to market a property with commission usually going to the agent responsible for the successful transaction.

This can increase reach but may reduce individual agent commitment.

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Buyer Representation

A buyer may appoint an agent specifically to represent their interests.

This can be particularly useful when:

  • buying remotely;
  • entering an unfamiliar market;
  • searching for specialist property;
  • or negotiating complex transactions.
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Dual Agency

In some jurisdictions and circumstances, one agent or brokerage may have relationships with both sides of a transaction.

Where permitted, disclosure and consent requirements may apply.

A buyer or seller should understand any potential conflict.

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Developer Agency

Agents marketing new developments may receive commission directly from the developer.

That does not necessarily mean the property is unsuitable.

But buyers should understand the commercial relationship.

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PART THREE — HOW TO SHORTLIST AN AGENT

Do not choose on branding alone.

Look for evidence.

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Relevant Local Experience

An agent should understand the immediate market.

Not simply the city.

They should know:

  • individual streets;
  • developments;
  • neighbourhood boundaries;
  • school areas;
  • transport;
  • typical buyers;
  • rental demand;
  • and current competition.
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Relevant Property Experience

An agent who mainly sells small apartments may not be ideal for:

  • rural estates;
  • commercial investments;
  • waterfront homes;
  • development land;
  • or luxury villas.

Ask what comparable properties they have handled.

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Recent Transactions

Recent evidence is more useful than old reputation.

Ask:

  • What have you sold recently?
  • At what price level?
  • How long did it take?
  • How close was the sale price to asking price?
  • What happened when a sale became difficult?
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Buyer Database

Many agents talk about having a database.

Ask what that actually means.

A database containing thousands of old contacts has little value if few are actively looking.

A useful buyer network is:

  • current;
  • relevant;
  • segmented;
  • and engaged.
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International Reach

For some properties, international exposure can matter.

This is particularly relevant for:

  • luxury property;
  • resort markets;
  • investment property;
  • second homes;
  • and internationally mobile buyers.

But international reach should be genuine.

A logo saying “global” does not automatically create buyers.

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Communication

Evaluate communication before signing.

Ask:

  • Who will handle the instruction?
  • Who conducts viewings?
  • How often will I receive feedback?
  • How quickly are enquiries answered?
  • Can I contact the senior agent?

The service you experience before signing often predicts what happens afterwards.

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PART FOUR — THE VALUATION TEST

One of the easiest ways for an agent to win an instruction is to quote the highest price.

That does not mean it is the correct price.

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Ask for Evidence

A valuation should be supported by:

  • comparable sales;
  • current competing listings;
  • market conditions;
  • property condition;
  • location;
  • size;
  • and demand.
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Sold Prices Matter More Than Asking Prices

A competing owner may ask any price they want.

That does not establish market value.

Where reliable data is available, actual completed transactions are usually more informative.

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Comparable Means Comparable

A property on the same street is not necessarily a meaningful comparison if it differs substantially in:

  • size;
  • condition;
  • view;
  • floor;
  • garden;
  • parking;
  • lease;
  • amenities;
  • or specification.
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Overvaluation Can Damage a Sale

A property launched too high may:

  • generate little interest;
  • remain online too long;
  • require repeated reductions;
  • and become perceived as stale.

The eventual sale price can sometimes be lower than if it had entered the market correctly.

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Underpricing

Deliberate underpricing strategies are used in some markets to create competition.

That may be appropriate in certain circumstances.

But the seller should understand the strategy before agreeing to it.

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Ask the Agent to Defend the Number

Instead of asking:

“What do you think it's worth?”

ask:

“Show me why.”

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PART FIVE — MARKETING THE PROPERTY

Good property marketing has one purpose:

to make the right buyer want to know more.

It is not simply a collection of photographs.

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Photography

Images should accurately show:

  • space;
  • condition;
  • light;
  • layout;
  • and key selling points.

Over-editing can damage trust when the buyer arrives.

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Floor Plans

Where commonly used and legally appropriate, floor plans help buyers understand:

  • flow;
  • room relationships;
  • access;
  • and usable space.
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Video

Video can be particularly useful for:

  • larger homes;
  • overseas buyers;
  • luxury properties;
  • resort property;
  • and unusual layouts.
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Virtual Tours

Virtual tours can help filter serious buyers before physical viewings.

But they should complement rather than hide the property.

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Property Description

A good description should explain:

  • what the property is;
  • where it is;
  • who it may suit;
  • important features;
  • and practical information.

Avoid meaningless superlatives.

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Portals

Online property portals are important in many markets.

Ask which platforms the agent uses and why.

More portals do not automatically mean better marketing.

The right audience matters.

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Social Media

Social channels can help create:

  • awareness;
  • targeted exposure;
  • video reach;
  • and local engagement.

But social media impressions are not the same as qualified buyers.

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Email Marketing

A properly segmented email audience can be highly effective.

The key word is:

segmented.

A buyer looking for a two-bedroom apartment does not need every seven-bedroom villa sent to them.

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Signboards

Physical signage remains effective in many locations.

It can generate:

  • local buyers;
  • neighbours;
  • investors;
  • and word-of-mouth enquiries.

Rules vary by location.

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Private Marketing

Some sellers prefer:

  • discreet marketing;
  • selected agents;
  • direct approaches;
  • or off-market introductions.

Privacy can be valuable, but reduced exposure may also reduce competition.

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PART SIX — QUALIFYING BUYERS

Not every enquiry is a buyer.

A good agent distinguishes between:

  • interest;
  • intent;
  • and ability to transact.
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Financial Position

Depending on jurisdiction and transaction type, the agent may seek to understand whether the buyer is:

  • cash;
  • financed;
  • mortgage approved;
  • selling another property;
  • or dependent on another transaction.
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Chain or Dependency

Some property markets involve transaction chains.

Others do not operate in the same way.

Where dependencies exist, understand them.

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Motivation

Ask:

  • Why are they buying?
  • When do they need to move?
  • What else are they considering?
  • Is this their preferred property?
  • Are they ready to proceed?

Motivation affects negotiation.

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Viewings

High numbers of viewings do not necessarily indicate strong performance.

Twenty unsuitable viewers may be less valuable than three serious buyers.

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PART SEVEN — NEGOTIATION

A good negotiator does more than relay numbers.

They understand:

  • motivation;
  • timing;
  • alternatives;
  • leverage;
  • risk;
  • and deal structure.
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The Highest Offer Is Not Always the Best Offer

Consider:

  • finance;
  • conditions;
  • timing;
  • certainty;
  • deposits;
  • dependencies;
  • and likelihood of completion.

A slightly lower offer with greater certainty can sometimes be stronger.

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Do Not Negotiate Against Yourself

If the buyer has not made an offer, do not immediately volunteer a discount.

Let the negotiation begin.

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Counteroffers

A counteroffer should have purpose.

It may be used to improve:

  • price;
  • timing;
  • deposit;
  • conditions;
  • included items;
  • or certainty.
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Multiple Offers

Where legally permitted and properly handled, competing buyers can strengthen the seller's position.

The agent should follow local rules and ethical standards.

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Emotional Negotiation

Property is emotional.

That makes professional representation useful.

A good agent can keep negotiations focused when buyers and sellers become personally invested.

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PART EIGHT — FEES AND COMMISSION

Agency fees vary substantially around the world.

They may be:

  • percentage based;
  • fixed fee;
  • tiered;
  • success based;
  • monthly;
  • or combined with management charges.
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Cheapest Is Not Always Cheapest

Suppose:

Agent A

charges 1%.

Agent B

charges 2%.

If Agent B negotiates a materially higher sale price or completes much faster, the higher commission may produce the better net result.

Compare:

net outcome — not headline fee.

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Ask What Is Included

Fees may or may not include:

  • photography;
  • portals;
  • video;
  • floor plans;
  • advertising;
  • viewings;
  • legal coordination;
  • or specialist marketing.
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Withdrawal Fees

Some agreements contain fees if the seller withdraws.

Understand them.

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Marketing Charges

Ask whether marketing charges are:

  • included;
  • payable upfront;
  • refundable;
  • or additional.
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Referral Fees

Agents may receive referral income from:

  • lawyers;
  • mortgage providers;
  • insurance;
  • surveyors;
  • relocation companies;
  • or other suppliers.

Disclosure requirements vary by jurisdiction.

Ask if there is a commercial relationship.

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PART NINE — THE AGENCY AGREEMENT

Do not treat the agency agreement as a formality.

Read it.

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Term

Understand:

  • start date;
  • minimum period;
  • renewal;
  • and termination.
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Commission Trigger

Exactly when does commission become payable?

This varies by agreement and jurisdiction.

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Continuing Liability

Some agreements can create commission exposure after the agency relationship ends if a buyer originally introduced by the agent later purchases.

Understand the wording.

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Marketing Rights

Check who can:

  • advertise;
  • photograph;
  • use property information;
  • and distribute materials.
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Data Use

Understand how your personal and property information may be used.

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PART TEN — BUYING THROUGH AN ESTATE AGENT

Buyers should remember:

the agent showing you the property may not represent you.

This distinction matters.

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Ask Who the Agent Represents

Before relying on advice, establish whether the agent acts for:

  • seller;
  • developer;
  • landlord;
  • buyer;
  • or multiple parties.
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Do Your Own Due Diligence

An agent can provide information.

They are not a substitute for appropriate:

  • legal advice;
  • survey;
  • valuation;
  • tax advice;
  • finance advice;
  • or building inspection.
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Verify Important Statements

If something materially affects your purchase, verify it independently.

Examples can include:

  • property size;
  • title;
  • planning;
  • rental return;
  • service charges;
  • completion date;
  • permissions;
  • and development facilities.
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“Guaranteed Returns”

Treat guaranteed investment returns carefully.

Ask:

  • Who guarantees them?
  • For how long?
  • On what conditions?
  • Is the return gross or net?
  • What happens afterwards?
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PART ELEVEN — BUYING PROPERTY ABROAD

International buyers face an additional layer of complexity.

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Local Market Practice

Do not assume the process works like your home country.

Differences may include:

  • agent roles;
  • reservation deposits;
  • legal representation;
  • ownership restrictions;
  • taxes;
  • registration;
  • and completion.
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Foreign Ownership

Some jurisdictions allow unrestricted foreign ownership.

Others restrict:

  • land;
  • property types;
  • locations;
  • ownership percentage;
  • or legal structure.

Check before committing.

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Currency

If the purchase and your wealth are in different currencies, exchange rates can materially change the final cost.

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Tax

Potential taxes may arise on:

  • purchase;
  • ownership;
  • rental income;
  • sale;
  • inheritance;
  • and capital gains.

Rules vary by jurisdiction and personal circumstances.

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Translation

Never sign a document you do not properly understand.

Use reliable translation where needed.

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PART TWELVE — SELLING PROPERTY INTERNATIONALLY

International sellers should think about the buyer market geographically.

Ask:

  • Is demand local?
  • Regional?
  • International?
  • Investor-led?
  • Lifestyle-led?

The marketing strategy should follow the likely buyer.

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International Pricing

A seller may think in one currency while buyers compare in another.

Currency movement can influence demand.

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Cross-Border Buyers

International purchasers may need more time for:

  • finance;
  • legal checks;
  • money transfer;
  • visas;
  • company structures;
  • and travel.

The agent should know how to manage this.

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PART THIRTEEN — NEW-BUILD AND DEVELOPER SALES

Developer property deserves particular caution because the buyer is often purchasing:

something that does not yet exist.

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Show Homes

A show home is a marketing environment.

Check exactly what is included in the property being purchased.

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CGI

Computer-generated images can illustrate intended appearance.

They are not the completed property.

Check contractual specifications.

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Build Specification

Review:

  • finishes;
  • appliances;
  • floor coverings;
  • fittings;
  • parking;
  • storage;
  • and external areas.
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Completion Date

Understand:

  • target date;
  • contractual date;
  • permissible extensions;
  • and delay provisions.
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Stage Payments

Off-plan purchases may require payments during construction.

The structure varies significantly by market.

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Developer Track Record

Research:

  • completed projects;
  • delivery;
  • quality;
  • after-sales service;
  • and financial strength.
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PART FOURTEEN — PROPERTY INVESTMENT AGENTS

An investment agent should be able to discuss more than:

“Prices are going up.”

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Yield

Understand whether quoted yield is:

  • gross;
  • net;
  • projected;
  • historic;
  • or guaranteed.
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Occupancy

A theoretical rent is irrelevant if the property is regularly empty.

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Costs

Include:

  • management;
  • service charges;
  • maintenance;
  • insurance;
  • taxes;
  • utilities;
  • furnishing;
  • and vacancy.
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Exit Market

Before buying, ask:

Who is likely to buy this property from me later?

A property may produce rent but have limited resale liquidity.

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PART FIFTEEN — LETTING AND PROPERTY MANAGEMENT

A strong letting agent should understand both:

  • tenant acquisition;
  • and ongoing property management.
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Tenant Selection

The precise process varies by jurisdiction.

Good practice may include appropriate:

  • identity checks;
  • affordability checks;
  • references;
  • and legally required verification.
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Rent Collection

Understand:

  • payment process;
  • arrears procedure;
  • reporting;
  • and remittance.
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Maintenance

Ask:

  • Who authorises repairs?
  • What spending limit applies?
  • Are contractors independent?
  • Does the agent add a margin?
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Inspections

Regular inspection can help identify:

  • maintenance;
  • damage;
  • compliance issues;
  • and tenancy problems.
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Emergency Management

For remote landlords, 24-hour response capability may be important.

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PART SIXTEEN — TECHNOLOGY AND MODERN ESTATE AGENCY

Property search increasingly begins online.

But technology has not removed the need for skilled agents.

It has changed where agents add value.

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Portals Create Visibility

Portals make it easy to see:

  • listings;
  • prices;
  • photographs;
  • and locations.

But they do not necessarily explain:

  • motivation;
  • hidden problems;
  • negotiation;
  • market sentiment;
  • or off-market opportunities.
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Automated Valuation

Automated valuation tools can provide useful indications.

But unique properties may be difficult to value algorithmically.

Local professional judgement remains valuable.

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CRM

Modern agents should use customer relationship systems to understand:

  • buyer preferences;
  • previous enquiries;
  • viewing history;
  • and current requirements.

This can improve matching.

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AI

Artificial intelligence can assist with:

  • descriptions;
  • lead qualification;
  • image processing;
  • data analysis;
  • and customer service.

It should not replace accurate property information or professional judgement.

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PART SEVENTEEN — WARNING SIGNS

Be cautious if an agent:

  • cannot justify the valuation;
  • pressures you to sign immediately;
  • avoids discussing fees;
  • cannot explain the agency agreement;
  • has poor communication;
  • provides misleading property information;
  • promises guaranteed prices;
  • cannot identify recent comparable transactions;
  • constantly blames the market;
  • or recommends every property as an “investment opportunity”.
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BEWARE OF FAKE LISTINGS

Property scams can involve:

  • properties that do not exist;
  • properties the advertiser does not control;
  • cloned listings;
  • fake landlords;
  • false developer offers;
  • and payment instructions altered by fraudsters.

Never transfer large sums solely on the basis of an email.

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Payment Fraud

Property transactions can attract payment-diversion fraud.

Independently verify:

  • bank details;
  • recipient;
  • and any changed payment instructions.
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Licensing

Many jurisdictions regulate real-estate agents.

Where licensing or registration exists, verify the agent appropriately.

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PART EIGHTEEN — QUESTIONS TO ASK BEFORE APPOINTING AN AGENT

About the Market

□ What similar properties have you sold recently?

□ What evidence supports your valuation?

□ Who is the likely buyer?

□ What competing properties are currently available?

□ How long are comparable properties taking to sell?

About Marketing

□ Which portals will you use?

□ Will you use professional photography?

□ Will you create video?

□ Do you have relevant buyers already registered?

□ Will you market internationally?

□ Will you use email marketing?

□ What is your launch strategy?

About Service

□ Who handles my property?

□ Who conducts viewings?

□ How quickly are enquiries answered?

□ How often will I receive feedback?

□ How do you qualify buyers?

About Fees

□ What is the commission?

□ What is included?

□ Are there additional marketing charges?

□ Is tax added?

□ Are there withdrawal charges?

□ When does commission become payable?

□ Do you receive referral fees?

About the Agreement

□ Is it sole agency?

□ Exclusive?

□ Multiple agency?

□ How long is the term?

□ How do I terminate?

□ Is there continuing commission liability?

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PART NINETEEN — QUESTIONS BUYERS SHOULD ASK THE AGENT

□ Why is the owner selling?

□ How long has the property been available?

□ Has the price changed?

□ Have previous transactions fallen through?

□ Are there offers?

□ What is included?

□ Are there service charges?

□ Are there restrictions?

□ Is it occupied?

□ What are comparable properties selling for?

□ Who does the agent represent?

□ Is the agent receiving commission from another party?

Not every question must be answered, and disclosure rules vary.

But asking them can reveal useful information.

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PART TWENTY — THE RIGHT AGENT SHOULD CREATE VALUE

An agent's job is not simply to upload a listing.

A professional agent can create value through:

Pricing

Positioning the property correctly.

Presentation

Making the property easy to understand and attractive to the appropriate audience.

Reach

Finding relevant buyers.

Qualification

Separating genuine prospects from casual enquiries.

Negotiation

Improving the commercial outcome.

Communication

Keeping all parties informed.

Progression

Helping prevent an agreed transaction from collapsing unnecessarily.

That is what the fee should be buying.

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ESTATE AGENT SELECTION SCORECARD

Score each shortlisted agent from 1 to 5.

CategoryAgent AAgent BAgent C
Local market knowledge
Comparable transactions
Valuation evidence
Marketing quality
Buyer database
International reach
Communication
Negotiation experience
Fee transparency
Contract flexibility
Personal confidence

Do not automatically choose the highest valuation or lowest fee.

Choose the agent with the strongest overall proposition.

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FAQ

Frequently Asked Questions

Should I choose the agent giving me the highest valuation?

No.

Ask for evidence supporting the valuation.

Should I choose the cheapest agent?

Not automatically.

Compare the likely net result and quality of service.

How many agents should I interview?

Enough to compare genuinely different approaches.

Three is often a practical starting point, but there is no universal rule.

Is a large agency better than an independent?

Neither is automatically better.

A large group may offer:

  • reach;
  • systems;
  • and resources.

An independent may offer:

  • local expertise;
  • senior involvement;
  • and personal service.

Judge the actual office and people handling the instruction.

Is online-only estate agency a good idea?

It can suit some sellers.

Compare:

  • support;
  • viewings;
  • negotiation;
  • local expertise;
  • and whether the fee is payable regardless of sale.
What does “off market” mean?

Usually that the property is being offered selectively rather than publicly advertised.

The exact meaning can vary.

Do estate agents work for buyers?

In some markets, yes.

In others, the selling agent primarily represents the seller.

Always establish the relationship.

Can an agent represent both buyer and seller?

This depends on local law and agency rules.

Where permitted, conflicts and disclosure must be carefully managed.

Can I negotiate estate-agent commission?

Sometimes.

But do not focus so heavily on commission that you weaken the service required to achieve the sale.

Are estate-agent valuations legally binding?

Normally they are marketing opinions rather than formal valuations for lending or legal purposes.

Terminology and regulation vary.

Should I accept the first offer?

It depends on:

  • price;
  • market;
  • buyer quality;
  • timing;
  • and alternatives.
Is the highest offer always best?

No.

Certainty and conditions matter.

Should I use the agent's recommended lawyer or mortgage adviser?

You may choose to, but understand whether referral fees or commercial relationships exist and whether you are free to choose independently.

How do I know whether an overseas agent is legitimate?

Where regulation exists, verify:

  • registration;
  • licence;
  • company;
  • office;
  • and professional standing.

Use independent legal advisers.

Can I buy property without an estate agent?

In many jurisdictions, yes.

But an agent can provide valuable market access, negotiation and transaction support.

What is the biggest mistake sellers make when choosing an agent?

Choosing the agent who tells them what they most want to hear.

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PRACTICAL 24ESTATEAGENTS EXAMPLES

How Different Property Situations Require Different Agents, Strategies and Decisions

The easiest way to understand estate agency is to look at how the decisions change in different situations.

These examples are illustrative rather than specific investment recommendations.

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EXAMPLE 1 — SELLING A FAMILY HOME

A homeowner plans to sell a four-bedroom house.

Three agents provide valuations:

AgentSuggested Asking PriceFeeProposed Strategy
Agent A£475,0001.0%Standard portal listing
Agent B£525,0001.0%Standard portal listing
Agent C£485,0001.5%Professional photography, targeted database, launch campaign

Agent B appears attractive because the valuation is highest.

But the seller asks for comparable evidence.

Recent similar homes have actually sold between:

£465,000 and £490,000.

Agent B cannot provide evidence supporting £525,000.

Agent C recommends launching at £485,000 and explains how the property will be positioned.

The lesson:

The highest valuation is not necessarily the best valuation.

An unrealistic asking price can cost more than a higher commission.

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EXAMPLE 2 — TWO OFFERS, BUT THE HIGHEST IS NOT NECESSARILY BEST

A property is marketed at £400,000.

Two offers arrive.

Buyer A

Offers:

£405,000

but:

  • has a property to sell;
  • has not yet accepted an offer;
  • requires mortgage finance.

Buyer B

Offers:

£395,000

and:

  • has no property to sell;
  • has finance agreed;
  • can proceed immediately.

The £405,000 offer is higher.

But it also contains significantly more transaction risk.

The seller might:

  • accept Buyer A;
  • negotiate Buyer B upwards;
  • or ask both buyers for best and final offers.

The important point is:

Price is only one part of an offer.

A professional agent should help the seller understand the quality of the buyer as well as the number.

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EXAMPLE 3 — THE PROPERTY THAT HAS BEEN OVERVALUED

A seller initially lists at:

£750,000.

Comparable sales suggest closer to:

£675,000.

After eight weeks there are:

  • few enquiries;
  • two viewings;
  • no offers.

The price is reduced to:

£715,000.

Then:

£695,000.

Buyers browsing property portals now see that the property has:

  • been available for months;
  • had several price reductions;
  • and remains unsold.

Some begin to assume there is a problem.

Eventually it sells for:

£660,000.

It is impossible to know precisely what would have happened under a different strategy.

But this illustrates why launching at an unrealistic price can sometimes weaken rather than strengthen a seller's negotiating position.

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EXAMPLE 4 — CHOOSING BETWEEN A LARGE BRAND AND A LOCAL INDEPENDENT

A seller has two choices.

Agent A

Large international brand.

Offers:

  • major website;
  • large marketing department;
  • multiple offices;
  • international branding.

Agent B

Independent local agency.

Offers:

  • 15 years' experience in that neighbourhood;
  • personally handles every viewing;
  • already knows several buyers seeking that property type.

Neither is automatically better.

For a highly specialised local family-home market, Agent B may have the advantage.

For an international luxury property, Agent A's wider reach may matter more.

The correct question is:

Which agent has the strongest route to the likely buyer?

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EXAMPLE 5 — BUYING AN OVERSEAS HOLIDAY PROPERTY

A buyer living in Germany wants an apartment in southern Spain.

The selling agent represents the seller.

The buyer likes a €350,000 apartment and is told:

  • it has strong holiday-let potential;
  • demand is excellent;
  • and similar properties achieve attractive rental income.

Instead of relying exclusively on the sales agent, the buyer independently checks:

  • title;
  • planning status;
  • community charges;
  • local letting regulations;
  • taxation;
  • expected management costs;
  • and realistic rental occupancy.

The property may still be an excellent purchase.

The point is that:

An estate agent's role does not replace independent legal, tax and property due diligence.

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EXAMPLE 6 — THE "8% RENTAL RETURN"

An investor is shown an apartment costing:

$300,000.

The agent advertises:

8% rental yield.

That sounds like:

$24,000 per year.

But further investigation shows annual costs of:

  • management: $3,000;
  • service charges: $4,500;
  • maintenance: $1,500;
  • insurance: $700;
  • vacancy and letting costs: $2,300.

Net income before tax and finance becomes approximately:

$12,000.

That is closer to:

4% on the $300,000 purchase price.

The lesson:

Always establish whether an advertised yield is gross or net.

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EXAMPLE 7 — A NEW DEVELOPMENT PURCHASE

A buyer is considering an apartment in a development scheduled for completion in two years.

The sales brochure contains:

  • swimming pool;
  • landscaped gardens;
  • gym;
  • premium kitchen;
  • impressive CGI images.

The buyer asks the agent:

“Which of these items are actually included in my purchase contract?”

That question matters.

Marketing material illustrates the development.

The contractual specification determines what the developer is legally obliged to deliver.

The buyer therefore checks:

  • exact unit;
  • floor;
  • orientation;
  • internal area;
  • balcony;
  • parking;
  • finishes;
  • appliances;
  • payment schedule;
  • and completion provisions.
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EXAMPLE 8 — THE BUYER WHO THINKS THE AGENT REPRESENTS THEM

A buyer views ten properties through the same estate agent.

They begin treating the agent almost like their personal adviser.

But the agent has actually been instructed and paid by the sellers.

That does not mean the agent is behaving improperly.

It simply means the buyer should understand the relationship.

If the buyer wants someone specifically tasked with:

  • sourcing;
  • analysing;
  • and negotiating property on their behalf,

they might consider appointing their own buyer's agent where that model is available.

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EXAMPLE 9 — SELLING A LUXURY PROPERTY

A €4 million villa is being sold in an international resort market.

Publishing it everywhere may not necessarily be the strongest strategy.

The likely purchasers may include:

  • international entrepreneurs;
  • executives;
  • investors;
  • family offices;
  • and existing property owners in the area.

The appointed agent develops a narrower strategy:

  • high-quality photography;
  • professional film;
  • direct communication with qualified buyers;
  • international broker cooperation;
  • targeted digital campaigns;
  • and carefully controlled viewings.

In this market, generating:

five genuine qualified enquiries

may be far more valuable than generating:

500 casual online leads.

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EXAMPLE 10 — SELLING AN INVESTMENT PROPERTY WITH A TENANT

An investor owns an apartment occupied by a reliable tenant.

The owner wants to sell.

There are potentially two different buyer groups:

Owner-occupiers

They may want the property vacant.

Investors

They may see the existing tenant and rent history as an advantage.

A good agent should establish which market creates the stronger proposition.

Simply advertising:

“Two-bedroom apartment for sale”

misses the investment story.

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EXAMPLE 11 — THE AGENT WITH 10,000 BUYERS

An agent tells a seller:

“We have 10,000 people on our database.”

That sounds impressive.

The seller asks:

  • How many are actively looking?
  • How many are looking in this location?
  • How many want this property type?
  • How many are in this price range?
  • How many have been active recently?

The relevant audience turns out to be:

143 potential buyers.

That is still extremely valuable.

In fact, it is more useful information than the original 10,000 figure.

Relevant reach is more important than raw database size.

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EXAMPLE 12 — THE LANDLORD CHOOSING A LETTING AGENT

A landlord compares two agents.

Agent A

Management fee:

7%

but maintenance coordination is charged separately.

Agent B

Management fee:

10%

but includes:

  • tenant communication;
  • inspections;
  • maintenance administration;
  • arrears management;
  • regular reporting.

The landlord lives overseas.

Agent B may therefore provide better value despite the higher percentage because the landlord requires a genuinely managed service.

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EXAMPLE 13 — CHEAP MANAGEMENT THAT BECOMES EXPENSIVE

A landlord selects the cheapest management company.

They later discover the agent:

  • rarely inspects;
  • responds slowly to maintenance;
  • applies large contractor mark-ups;
  • and provides poor financial reporting.

A relatively small saving in annual management fees creates much larger costs through:

  • delayed repairs;
  • tenant turnover;
  • and poor property condition.

Management should be evaluated on:

total outcome, not commission percentage alone.

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EXAMPLE 14 — THE OVERSEAS INVESTOR WHO NEVER VISITS

An investor living in Singapore buys an apartment in Europe.

The property will be rented permanently.

For this buyer, the agent's ability to provide:

  • remote viewings;
  • digital documentation;
  • local legal introductions;
  • management;
  • maintenance;
  • financial reporting;
  • and tenant communication

may matter more than having a prestigious high-street office.

Different clients place value on different agency capabilities.

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EXAMPLE 15 — FOREIGN-CURRENCY RISK

A buyer agrees to purchase an overseas property for:

€500,000.

Their funds are held in another currency.

Between reservation and completion, the exchange rate changes significantly.

The effective cost in the buyer's home currency increases.

Nothing about the property changed.

But the acquisition became more expensive.

International buyers therefore need to consider:

  • purchase price;
  • transaction costs;
  • and currency exposure.
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EXAMPLE 16 — THE AGENT WHO SELLS THE AREA, NOT JUST THE PROPERTY

Two agents describe the same apartment.

Agent A says:

“Beautiful two-bedroom apartment with balcony.”

Agent B explains:

  • walking time to transport;
  • local restaurants;
  • nearby schools;
  • beach access;
  • business district;
  • rental demand;
  • and planned infrastructure.

Buyers are rarely purchasing only:

walls and a roof.

They are buying:

location + lifestyle + access + opportunity.

Strong agents understand this.

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EXAMPLE 17 — THE PROPERTY WITH 40 VIEWINGS AND NO OFFER

A seller is initially pleased because the agent has conducted:

40 viewings.

But there are no offers.

Possible explanations include:

  • incorrect price;
  • misleading marketing;
  • poor qualification;
  • condition problems;
  • unsuitable audience;
  • or something buyers discover during the viewing.

The correct response is not simply:

“We need more viewings.”

The agent should analyse why the existing viewings are not converting.

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EXAMPLE 18 — FEEDBACK THAT ACTUALLY HELPS

After each viewing, an agent reports:

“They liked it but it wasn't for them.”

This tells the seller almost nothing.

Useful feedback might instead show that several buyers independently considered:

  • the kitchen dated;
  • bedrooms small;
  • asking price high;
  • garden excellent;
  • location ideal.

Patterns in feedback can support decisions about:

  • price;
  • presentation;
  • or marketing.
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EXAMPLE 19 — THE FALLEN-THROUGH SALE

A buyer agrees to purchase a property.

Several weeks later the transaction collapses.

A weak agent simply returns the property to the market.

A strong agent immediately:

  • contacts previous interested parties;
  • reopens negotiations;
  • updates marketing;
  • explains the position appropriately;
  • and attempts to preserve momentum.

Transaction progression is an important part of agency performance.

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EXAMPLE 20 — THE DEVELOPER CHANNEL-PARTNER MODEL

A major property developer may appoint a network of independent agents or channel partners.

Rather than relying entirely on its own sales team, the developer gains access to:

  • local agents;
  • international agents;
  • investment advisers;
  • specialist brokers;
  • and their existing client networks.

An individual agent may therefore market developments located thousands of kilometres away.

This model is particularly common in international new-build markets.

For buyers, it makes one question important:

Who is the agent representing and how are they being paid?

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EXAMPLE 21 — THE SAME DEVELOPMENT FROM MULTIPLE AGENTS

A buyer sees the same new development advertised by:

  • Agent A;
  • Agent B;
  • Agent C;
  • and the developer directly.

The underlying property may be identical.

The difference between agents may therefore lie in:

  • responsiveness;
  • market knowledge;
  • after-sales support;
  • investment analysis;
  • language;
  • local representation;
  • and understanding the buyer's requirements.

An agent's value should not be measured solely by access to inventory everyone else also has.

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EXAMPLE 22 — SELLING BEFORE BUYING

A homeowner wants to move but has not yet sold their existing property.

They find their ideal next home.

The seller receives two offers:

This buyer

Excellent price but depends on selling their current home.

Another buyer

Slightly lower offer but already ready to proceed.

The strength of the chain or transaction dependency may influence the seller's decision.

A good agent should establish this early rather than discovering it weeks later.

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EXAMPLE 23 — A PROPERTY THAT NEEDS RENOVATION

A dated house could be marketed as:

“Property requiring modernisation.”

Or the agent could identify who may actually value it:

  • developers;
  • renovators;
  • owner-builders;
  • investors;
  • or buyers seeking a project.

The property has not changed.

The target audience has.

Correct positioning can transform marketing results.

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EXAMPLE 24 — THE AGENT WHO SAYS “I HAVE A BUYER”

Before signing an agency agreement, a seller hears:

“I already have someone who wants a house exactly like yours.”

The seller should ask:

  • Have they seen the property details?
  • Are they actively looking?
  • What is their budget?
  • Are they financially qualified?
  • When did you last speak to them?

Sometimes there genuinely is an ideal buyer.

Sometimes it is simply an instruction-winning technique.

Evidence matters.

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EXAMPLE 25 — WHY FOLLOW-UP MATTERS

A prospective buyer views a property and says:

“We need to think about it.”

A passive agent waits.

A professional agent follows up appropriately and discovers:

  • the buyer likes the property;
  • the main concern is price;
  • they are also viewing another house tomorrow.

That information creates an opportunity to negotiate.

A considerable amount of estate agency value happens after the viewing.

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HOW 24ESTATEAGENTS FITS INTO THESE SCENARIOS

These examples also explain why property buyers and sellers benefit from choosing what information they receive.

Someone looking for:

a holiday apartment in Portugal

does not necessarily want updates about:

commercial property in New York.

An investor interested in:

Dubai off-plan developments

may not need:

rural properties in France.

A landlord may be interested primarily in:

  • letting agents;
  • property managers;
  • investment opportunities;
  • landlord services;
  • and local market updates.

A seller may want:

  • estate agents;
  • valuations;
  • local sales information;
  • and property-market news.

The 24EstateAgents model allows subscribers to choose the property sectors and locations relevant to them rather than receiving indiscriminate property marketing.

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A PRACTICAL EXAMPLE OF THE 24ESTATEAGENTS NETWORK

Imagine three estate agencies join 24EstateAgents.

Agency One

Specialises in:

Dubai new developments.

Agency Two

Specialises in:

Spanish holiday homes.

Agency Three

Specialises in:

UK residential property.

Each publishes information relevant to its sector.

A subscriber interested only in:

Dubai investment property

can follow that subject.

Another interested in:

Spanish holiday homes

can follow a different stream.

The subscriber does not need to join three separate agency databases and then receive everything those agencies send.

They select the information relevant to them.

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A SELLER EXAMPLE

A homeowner considering selling may subscribe to:

estate-agent and property-market updates in their area.

Over several months they begin seeing:

  • recent listings;
  • market commentary;
  • advice;
  • local developments;
  • and information from participating estate agents.

When the time comes to sell, they may already recognise agents that have demonstrated expertise.

The relationship starts before the valuation appointment.

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A BUYER EXAMPLE

A buyer looking for an investment apartment could select interests such as:

  • apartments;
  • investment property;
  • new developments;
  • and a preferred location.

Participating agents can then communicate relevant opportunities without sending unrelated property categories.

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AN AGENT EXAMPLE

An estate agent has ten properties available.

Instead of broadcasting all ten to every contact, they could communicate:

  • villas to villa buyers;
  • investment property to investors;
  • apartments to apartment buyers;
  • and new developments to subscribers who specifically selected new developments.

The result should be:

fewer irrelevant messages and more relevant conversations.

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THE PRINCIPLE

Traditional property email marketing often asks:

“Who is on our database?”

A more useful question is:

“Who has said they are interested in this type of property?”

That distinction is central to 24EstateAgents.

The objective is not to send more property emails.

It is to make property communication more relevant.

Right property. Right audience. Right reason to open the message.

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PROPERTY IS LOCAL — BUYERS ARE INCREASINGLY GLOBAL

Every property occupies one exact location.

But its next owner may live:

  • across the street;
  • in another city;
  • or on another continent.

Modern estate agency therefore combines:

  • local knowledge;
  • digital marketing;
  • professional negotiation;
  • and increasingly international reach.

24EstateAgents helps buyers, sellers, landlords, investors and property professionals follow estate agencies and property opportunities relevant to them.

Subscribers can choose interests including:

  • residential property;
  • luxury property;
  • apartments;
  • villas;
  • investment property;
  • new developments;
  • overseas property;
  • buy-to-let;
  • lettings;
  • property management;
  • relocation;
  • and regional property markets.

Create your 24EstateAgents subscriber account and choose the property markets and opportunities you actually want to follow.

The best estate agent is not necessarily the one with:

  • the biggest brand;
  • the highest valuation;
  • or the lowest commission.

It is the one most capable of getting the right property in front of the right people — and then turning interest into a successful transaction.

Choose the agent, not just the agency.

This guide provides general information for an international audience and does not constitute legal, financial, tax, valuation, investment, property or agency advice. Estate-agency practices, licensing, disclosure requirements, fees, contracts, ownership rules and transaction procedures vary significantly between jurisdictions. Buyers, sellers, landlords and investors should obtain appropriate local professional advice.

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