WHY HIRE A REAL ESTATE AGENT IN BALI?

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In Bali there is a general opinion that real estate agents, selling and renting villas in Bali, are an unnecessary expense, because they are lazy, don’t do their job properly and they are only interested in the commission.

That might be the case for some real estate agents, but most real estate agents we know off, are hardworking and only interested in helping the seller finding the right buyer or tenant. 

These 7 points are all relevant when you choose to work with a real estate agent.

7 reasons why you should hire a real estate agent in Bali.

There is definitely also a general misconception about how much a real estate agent receives in commission, when selling or renting a villa in Bali. Normally the real estate agent receives a 5% commission, when selling a villa or a land and a 10% commission, when renting out a villa for long term. 

You might think ”WOW… that’s a lot of money” – and yes, it is potentially a lot of money, but it’s only a lot of money, if the real estate agent actually sold or rented out numerous of properties every month. However, this is rarely the scenario. 

Being a real estate agent in Bali doesn’t necessarily make you rich!

If you run a professional agency in a certain size, like we do at Propertia Bali, then there are a lot of running expenses. Office space, employees, marketing costs etc. The list of expenses is unfortunately long, and it is expensive to run a real estate agency.

It’s also very important to mention, that customers don’t come to you “out of the blue”. It’s expensive to attract the right customers through a website or social media like Facebook or Instagram. The competition is tough between the agents in Bali, and because most listings are shared between 3-4 agents, you have to be professional, dedicated and take very good care of your customers. 

So remember, when you are choosing your next agent to sell or rent out your villa in Bali, you should choose 3-4 good agents, who has the organisation to supply you with the customer service you expect. 

Check their website, their organisation and meet with them and ask all the questions, that you might have regarding your sale or rental. 

We hope that Propertia Bali will be on your checklist!

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WILL THE PROPERTY PRICES COLLAPSE IN BALI?


Through the last few months a lot of our potential buyers have been calling us, asking “Are there any villa owners, who are desperate to sell…?” and “Why is the property prices not dropping like many other places in the world..?”

Obviously, they are as buyers, interested in making a “good deal”, but there are several logical reasons to why the real estate market is so strong and stable in Bali!

Firstly, very few properties have debt since they are mostly paid in cash, and therefor the owners are rarely in a hurry to sell.

Secondly, most owners know that the financially consequences of COVID19 are just another “bump in the road” like the volcano eruption and the earthquakes have been. They know, that the lucrative rental business will be back eventually.

Thirdly, Bali is getting more and more noticed worldwide as one of the best places in the World to invest in land and properties. The business magazine Forbes has specifically mentioned Canggu as a great investment in an article back in 2019. They stated Canggu to be “the Brooklyn of Bali” because it’s trendy, hip and a great place for digital nomads. Read the article in Forbes here.

The overall conclusion and prediction from Propertia Bali, is that we are not going to see a “fire sale” in the real estate sector in Bali due to the COVID19.

Crisis or not, there will always be great deals to be made, but we are convinced, that we will not see an overall collapse of the property market in Bali. But with that said, it is still extremely important, that your property is priced according to market value. 

Contact us for a valuation of your property here.

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WHY ARE THE RENTALS IN BALI SO CRAZY EXPENSIVE?

At Propertia Bali we often have customers asking “what is going on with the rental market in Bali?”

We have to agree with our customers. The market seems to be very inflated and has been the last few years. There are many factors influencing the rental market in Bali, but here are a few reasons, why we think the market is so inflated.

  • Every year more than 6 million people are visiting this lovely island. A lot of them have hopes and dreams about creating a new life for themselves in Bali. They want to rent a beautiful home and live the dream life they planned. The first year most people living here long term, rent a villa to live out their dream.

  • A lot of private persons are renting villas yearly and subletting them on a daily basis through mainly AirBNB. It’s a lovely way to make an income, but of course you always have to remember to follow the laws and regulations and have the right permits and registrations.

  • It’s fantastic to see how local Balinese land owners are building new lovely villas to rent out on a yearly basis. However for these owners it’s normal practise, that their land certificate is with their bank, until they get the villa rented out. This is why, we see so many villas listed with a minimum rent of 3-5 years. Simply because they need to pay back the bank, for the villa they build, to get back their certificate. At Propertia Bali we often wonder who has that kind of money to put up front?

Will the market change anytime soon?

At Propertia Bali we don’t think so. A market changer, could be that the government is intensifying their search for illegally build villas and checking AirBNB hosts for rental villas.

Of course Covid19 has had a huge impact on the occupancy of the villas, but the owners are patient and they know the market will probably return in the last quarter of 2020. Owners are more willing to negotiate now but we haven’t seen a big drop in the rental prices, like many predicted.

In the end it’s all about supply and demand and Bali seems to become more and more popularly as a destination for tourists and people who want to live in create a new life in this beautiful island.

Where do you think the rental market will go?

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WELCOME TO PROPERTIA BALI

At PROPERTIA BALI we want to work with everybody to supply our buyers and sellers with the absolutely best and effective service. The concept “Let’s work together” is about sharing whether you are a local agent with listings, a family member, who knows someone selling or maybe a friend of someone who wants to buy.

PROPERTIA BALI was also created to bring you a complete and effective service with an European feel and quality, to help you find your dream home in Bali.

With us, everything is possible and nothing is impossible…

PROPERTIA BALI is happy to introduce you to an international and professional trained team with great experience in the industry. Our broad knowledge and passion to connect people with the right properties are some of our greatest strengths.

Our real estate agents speaks fluent English and Bahasa Indonesia.

When choosing us as your agent, you can ensure to be connected with the best lawyers and notaries who will give you the best advice in order to facilitate a smooth and pleasant experience all the way.

We have well established, working relationships with a comprehensive and trustworthy network of partner estate agencies, developers, banks, architects, builders, interior designers and rental/property management companies.

We always make sure to leave no stone unturned to find or sell your property. Throughout the process, we are there from the beginning to the end.

Our team is at your service to make your dreams come alive!

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