The real estate market – complex and challenging

The real estate agent’s profession has changed dramatically in recent years. The job used to be mainly focused on scouting for appropriate homes or offices and liaising with buyers and tenants. This is by no means enough nowadays. Estate agents today have become advisors to their clients on a comprehensive range of matters. They have to be familiar with the situation in the region in which they ply their trade, and possess an intimate knowledge of the legal framework and needs of the relevant target audience.

Corporate customers and private individuals choose real estate according to vastly differing individual criteria. An important aspect are the answers to how the overall development of a region will progress in the upcoming years, in terms of transport infrastructure, the microcosm of urban living or the availability of childrens‘ day care centres and schools in the vicinity.

People are increasingly attracted to metropolitan areas. Yet housing is in short supply in those areas and redensification is a particularly important issue in greater Stuttgart. So meanwhile, the work of the estate agent begins at a very early stage and is characterised by long-term planning, town council forecasts and urban planning.

Estate agents are often already involved at the project development phase, advising in agreement with the contractors, as to how a property can be put on the market to best effect.

Estate agent teams nowadays will often include experts in subjects related to the environment and energy. They also have to keep up-to-date with building legislation and the constantly changing rules and regulations. In addition, new fire safety guidelines and energy requirements applicable to both old and new buildings play an important role.

A main issue of course is how to finance real estate. The most effective long-term solution for the respective buyer must be sourced, and in this case the market know-how and experience of an estate agent are indispensable. At first glance, the general availability of online information and offers may seem tempt- ing; however, the complexity of the subject matter in most cases calls for the services of a trustworthy experienced advisor.

Increasingly, communities of heirs need assistance in unravelling the legal snares of inherited real estate, which in the past were not quite so prevalent.

In view of the diverse requirements, most estate agents have opted for specialisation. As good and reliable advisors they will of course be able to advise clients on landlord and tenant law, contract, land registry, notary and building law. And they will be familiar with the workings of regional authorities and thus reliably and professionally smooth their clients’ way to acquiring property.

Ulrich Pfeiffer