Smart Ways to Buy or Sell Property in Turkey

The following are the most crucial ‘keys’ to your sale:

  1. a) Showcase your home WHERE the buyers are; at Turkey’s online real estate property platforms across the world
  2. b) Ensure that the Buyers contact You rather than an Agent.

 

As a result, you can be certain that YOU are in command.

The Seller’s Tool Kit is a Service Bundle… created to help international property owners in Turkey sell their homes the same manner as native Turks do, by using online ‘For Sale by Owner’ portals (rather than English-language real estate agent websites in Turkey). This is where the purchasers are, and during the last five years, this is where 85 percent or more of all property transactions have occurred (Turks no longer use agents). The services are available as D.I.Y. (Do-It-Yourself) support services, which provide assistance with instructions and Turkish language translations, or as fully managed services.

 

WHERE HAVE ALL THE BUYERS GONE?

The procedures below will show you how to sell your home the local Turk way, which is fast and safe. This necessitates the use of online property markets/portals. In the previous five years, these markets have accounted for more than 87 percent of all property sales. This is because using them is easier, faster, safer, and less expensive for purchasers. Buyers and sellers are not susceptible to the scams and deceptions utilised by agents.

 

Make certain that buyers contact you rather than an agent.

Buyers and Sellers can connect directly with each other using the portals’ message systems. Most Turkish buyers will avoid dealing with an agency and will instead look for a better house if they discover one is involved.

The most significant disadvantage of utilising an agent is that the representative will not show the seller the buyer’s bid and will instead inform the buyer that the “property has been sold.”

 

This occurs for a variety of reasons:

1) It frequently occurs when an agent is ‘hoping’ to benefit from a transaction at a price higher than a specified level – the listing price the seller has agreed – without the seller’s awareness.

2) It usually occurs when the buyer refuses to pay a reservation deposit, which no Turkish buyer will do, hence there is little likelihood of selling to a Turk. That commission is referred to as a’reservation deposit,’ but it does not reserve anything, and only gullible foreigners fell for this ruse. Instead, the agent likes to locate a foreign buyer and get the fee as a “reserve deposit” in advance. These English-speaking brokers are unwilling to do business any other way since getting international purchasers to pay “reserve deposits” is less labour and more profitable than dealing with Turkish clients. Unfortunately, international purchasers along the shore have been few and far between in recent years. Agents around the shore began doing business with foreigners, and they are still waiting for the tremendous buyer surges to return, which they have been anticipating for several years. (Did a real estate salesperson tell you that international property purchases in Turkey are at an all-time high? Did they also explain that these purchases are being made by foreigners from Syria and Iraq, rather than foreigners purchasing $100,000+ houses in coastal areas…?)

3) And it usually happens because the agent is trying to sell the foreign buyer a property from a newly built development, or another property, instead of yours, because the developer pays the agent a much higher commission of 5-15 percent, or because the agent has worked out’some other deal’ on another property to make a bigger profit.

 

How can you ensure that a Buyer reaches you rather than an agent?

An agent’s normal procedure is to display the property details in their window and/or on their website, then manage the bids received from potential purchasers. If the buyer refuses to pay a reservation deposit (local Turks will not fall for this ruse), or if the local buyer refuses to fall for the ruse of paying a price far above market (with a price mark-up the agent has added above the sales price agreed with you, the seller), the agent will usually make up an excuse to ignore the buyer, usually by telling the buyer that “the property has been sold.”

What is the solution? Use the online portals to advertise your property for sale in Turkey. As a result, purchasers will contact you directly via the portal’s chat system, email, or phone, if you like.

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