'Training for real estate agents | Cyprus Mail.'

The sales force in the real estate industry doesn't seem very eager to educate themselves and become professionals at a high level.

There are currently about 400 registered real estate agents, as well as 270 assistant agents who are authorized to handle sales. Only registered real estate agents and assistant agents are authorized to sell, and property owners and agents must be well-versed in the subject. Most are familiar with the basics, but not all the important details, and buyers and sellers who trust them can run into difficulties during and after the transaction.

There was a recent case where a sales associate leased an apartment for six months, but the agreement was made without''the participation of two witnesses from each party (four witnesses in total), which is required for a lease of less than 12 months, which means that the contract is invalid. In another case, a client was promised by an agent that he could build on a piece of agricultural land. The prospective buyer sought our advice and we told him otherwise. On our advice, he visited the planning department and was told that he would need a "variance" from the zone in order to build, which involves an endless process of dubious success. Others, including developers seeking permanent residency visa deals, claim that permanent residency visa holders are allowed to travel without a visa in''all EU countries. This is not true, after all, visas are required to travel to EU countries.

There are a few simple examples. It's amazing the opinions some agents have and the misinformation they spread. Some agencies have sales staff with no salary who receive 50 percent commission on all sales expenses paid to them. The result is indifference and high turnover, with a constant influx of newbies with little knowledge. Basic knowledge for the sales department is a must, and managers should have a higher level of knowledge.

The urban real estate market is showing an upward trend and deeds are becoming less stringent, making the need for strict control of the sales process increasingly important.

Antonis Loizou & Associates EPE - real estate appraisers and development project managers, www.aloizou.com.cy, [email protected]

Subscribe to Cyprus Mail at Google News.