What does it take to become a reputable and highly successful estate agent in Greece in just a few years and start living your dream lifestyle?
Some of the qualifications you need to become an estate agent in Greece include, becoming a citizen of Greece, getting the right skills and license, etc.
Can you become rich as a real estate agent in Greece? The answer is yes. Some of the richest Greeks like Jim Davis, Philip Niarchos, Tom Gores, etc., all have real estate investments in hundreds of millions of dollars.
Who is an Estate Agent?
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An estate agent is a person responsible for the arrangement of selling, renting, or management of properties and other buildings. Greece is one of the most fancy countries in the world for anyone to become a real estate agent.
There are lots of beautiful buildings in Greece that allow you to ply your trade. You can make a decent income by simply placing your flats in Athens for sale. Being an estate agent in Greece is very profitable, but there are ways one can become a legal estate agent in Greece and stay profitable.
Is Greece Good for Real Estate Business?
The real estate industry is considered to be the most lucrative industry to invest in, in Greece. That goes to show that Greece is a good European country for the real estate business. In the past few years, Greece has become a great destination for investment due to its numerous opportunities, natural beauty, mild climate and geographical location.
In the 4th quarter of 2021, the Bank of Greece revealed that apartment prices have jumped by 9.1% and the figure ended at 7.1% for the year. Greece is one EU country where there’s no report of a shortage of luxury real estate. This perfectly explains why investing in Greek real estate is a good option.
The Real Estate Law Guiding Agents in Greece
The principal law that governs real estate in Greece is the Hellenic Civil Code. The conditions for the provision of estate agency services in Greece, as well as the rights and obligations of the estate agent, are defined in articles 197 – 204 of Law 4072/2012 (Government Gazette A 86 / 11.04.2012) and 703 – 707 of the Civil Code. You will not be accepted as a real estate agent in Greece if you’ve been convicted of a felony or of a misdemeanor.
Common Mistakes to Avoid When Marketing Real Estate in Greece
Marketing luxury real estate can be a very profitable way to make money in Greece. But in your quest to generate steady income selling houses and properties, there are a few mistakes you need to avoid.
One of such mistakes real estate agents in Greece must avoid at all costs is failing to do due diligence on a property before listing it. Doing due diligence on a property will help you confirm ownership status. You may as well work with a verified Greek lawyer to help you check if there’s any third-party claim on the property.
Selling a property without checking the town planning status is a huge risk. It can land you and your buyer in a legal battle. Understanding the legal guidelines for purchasing a property in Greece will help you know if the property you want to purchase has any forestry and archaeological issues.
In this article, we will share with you the most critical information to help you begin your journey into an exciting career of becoming a highly sought-after estate agent in Greece in 5 basic steps.
1. Be a Citizen
To become a legal estate agent in Greece, you must be a citizen of the country. You could also be a citizen of a member state of the European Union or a member of the European Economic Area (EEA). With these qualities, you have the right to engage in economic activities and legal professions. Depending on the state, you will also have to be at least eighteen or nineteen years old and have a clean criminal record.
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2. Acquire Knowledge of Your State Estate Agent Licencing Requirements
Do you need a real estate license in Greece? Licencing for an estate agent is based on the state. There are over a thousand city-states in Greece where you can get an estate agent license. Depending on the state you reside in, all requirements for licensing are different. You must understand the requirements needed and have what it takes to become an estate agent in Greece.
Individuals and businesses that want to buy properties in Greece want to be sure they are dealing with an estate agent who has adequate knowledge about property investment in Southeast Europe.
3. Take a Pre- licensed Course
It doesn’t matter where you reside in Greece or not; you will have to take a pre-licensing course from an accredited real estate licensing school before you can sit for the real estate license exam.
The time or days required to take the exams depends on the state you take the exams. Most states offer several ways to fulfill the pre-licensing course requirements. You can do online classes, brick-and-mortar real estate schools, and community college classes. You can decide the method that works best for you.
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4. Take the Licencing Examination
Your instructor should explain how to schedule, register, and pay for the licensing exam. If not, visit your state’s real estate commission website in Greece. The licensing exam for becoming an estate agent in Greece is computerized.
The exam is in two sections. The first is the national aspect of estate management, and the second is the state’s aspect. You are required to pass each section before you can get your license. If you fail a section, you will have to retake the exam. The exam is what you use to acquire your license as an estate agent.
5. Have the Right Skills
To become an estate agent in Greece, you need to have some vital skills. One of such is marketing skills. You will need good communication and customer service skills. You must also be a people person, as most of your transactions will involve interacting with different kinds of personalities.
Strong IT skills and good administration skills are also required to become a successful estate agent in Greece. These days, estate companies are now using artificial intelligence to fund real estate projects making it easier for them to find the best places to buy real estate in Greece.
How to become a real estate consultant in Greece is not hard if you follow the process we outlined here. Get all the real estate laws in Greece and ensure that your clients adhere to them when buying a property.
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To stay ahead of your competitors, you must be confident in your work, have good charisma, and be highly organized to survive in this industry. All these skills will help you in the long run to become a successful estate agent like rrcorfurealestate.com.
Put effort into mastering these growth hacking techniques if you want to sell more properties in Greece in record time.
Penalties for Breach of the Obligations by a Real Agent in Greece
It’s a crime when there’s a breach of contract. Greek law imposes criminal and civil sanctions upon real estate agents who violate their legal obligations. If you exercise responsibility as a real estate agent without fulfilling the legal requirements like registering with the General Commercial Registry, you risk imprisonment from six (6) months to two (2) years, fines from five thousand (5,000) to thirty thousand (30,000) euros, or both.
In subsequent articles, we shall discuss how to become a real estate agent in the Netherlands, Cyprus, the UK, Australia, and Canada, the salary, and the comprehensive list of the job descriptions of a real estate agent. You can also check out this article that explains how to grow a successful real estate business in Dubai.