{"id":2408,"date":"2010-01-27T10:55:36","date_gmt":"2010-01-27T07:55:36","guid":{"rendered":"http:\/\/http:\/\/www.iliaspapageorgiadis.ro\/en\/?p=2408"},"modified":"2014-03-12T16:40:04","modified_gmt":"2014-03-12T14:40:04","slug":"romanian-real-estate-market-2010-punish-the-crooks-but-also-appreciate-and-respect-the-serious-professionals","status":"publish","type":"post","link":"http:\/\/www.iliaspapageorgiadis.ro\/english\/2010\/01\/27\/romanian-real-estate-market-2010-punish-the-crooks-but-also-appreciate-and-respect-the-serious-professionals\/","title":{"rendered":"Romanian Real Estate market, 2010. Punish the crooks but also appreciate and respect the serious professionals"},"content":{"rendered":"<p>\n\t<!--:en-->\n<\/p>\n<p align=\"center\">\n\t<strong>Part 1<\/strong>\n<\/p>\n<p class=\"indentfirstline\" style=\"text-align: justify\">\n\tMy friend had promised to me: &quot;You will come to our building, immediately after we will finish its construction&quot;. &quot;Are you sure?&quot; &quot;Definitely, don&#039;t even think about it&quot;. The months were passing by and from the winter of 2008, we reached soon the spring of 2009. <strong>At the end of May things changed<\/strong>: &quot;Look, do me a favor, I will rent the whole surface to a single tenant, who is our common friend&quot;. <strong>I stepped back and accepted to enter in the painful and bloody procedure of finding a new office for my company to move&#8230;<\/strong>\n<\/p>\n<p>\n\t<strong>Two directions in my quest to find new office&#8230;<\/strong>\n<\/p>\n<p class=\"indentfirstline\" style=\"text-align: justify\">\n\t<strong>Yes, we are a Real Estate consulting and brokering company. But we do not cover all the market segments<\/strong>. And definitely not the rental of 200 &#8211; 250 sq.m. <!--:--><!--more--><!--:en-->of offices. <strong>As I was expecting the market to go down furthermore, I was also not willing to pay the high prices that many owners were asking<\/strong>, usually without even offering something matching the investment. I used to say back then &quot;<strong>too bad that we search now, while at the end of the year the prices will be much lower and our research much easier<\/strong>&quot;. So, we went out to our collaborators&#8230; and followed two directions:\n<\/p>\n<ul type=\"disc\">\n<li class=\"list\">\n\t\t<strong>We spoke on the phone with all our collaborators<\/strong>, informing them for what we are searching for. We are not strangers to them, <strong>they know us and most of them had a transaction (or more) with us, knowing how serious we are<\/strong>. <strong>We also made it clear that we pay commission too, like every other client. The result: 50% did not care at all<\/strong>, when they heard that &quot;the stubborn Greek is no willing to pay 20 euro \/ sq.m. plus utilities&quot;. <strong>30% sent us some expensive offers and very soon stopped. 20% tried to find what we wanted and really worked on this direction<\/strong>.\n\t<\/li>\n<li class=\"list\">\n\t\t<strong>We &quot;scanned&quot; the internet, collecting over 200 offers<\/strong>. The &quot;scanner&quot; friend who does this was calling me to say &quot;open your email, I have fresh offers, just published, collected from 28 different sites!&quot; <strong>When I was opening it, 30 &#8211; 40% were simply fake, while most of the others were repeated ones<\/strong>.\n\t<\/li>\n<li class=\"list\">\n\t\t<strong>We contacted over 100 agencies<\/strong>, asked about the offer, explained what we wanted, accepted to pay commission, signed tens of contracts regarding this. <strong>Again there was a 20% of serious people who worked properly, one way or another, while the vast majority either disappeared<\/strong>, searched for ways to trick us or they simply promoted offers they had never seen themselves first.\n\t<\/li>\n<li class=\"list\">\n\t\t(Plus if you call and tell them that you have a client, even if you sign contract with them, they will still tell you that you can not come before, so as to see the place, you will see it together with the client. Is this a professional approach? No, but as noone trusts noone&#8230;)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Some trying to trick me non stop&#8230;<\/strong>\n<\/p>\n<p class=\"indentfirstline\" style=\"text-align: justify\">\n\t<strong>You don&#039;t believe me? Ask any foreigner you want, he will confirm to you. Going to see places is an interesting &quot;hobby&quot;, suitable for the ones who have lots of time to lose and lots of patience, so as to accept all kinds of stupidities<\/strong>. The prices kept changing instantly, in front of me, once the owner noticed that the potential tenant is foreigner. The surfaces were shrinking or the quality of construction and the finishings were transformed&#8230; from the &quot;fantastic&quot; ones which were described and presented in the add, to the &quot;dramatic&quot; ones which were in reality. <strong>The ones which were good, were usually &quot;untouchable&quot;. Maybe not for a Romanian tycoon, but for a foreigner business man, definitely<\/strong>.\n<\/p>\n<p class=\"indentfirstline\">\n\t(Especially a Greek. <strong>When I was explaining to owners that they can not receive the rents of 2008, usually the answer was: &quot;Be aware of the Greek, even when he brings you gifts&quot;.<\/strong> Correct, be aware of him, raise your price, don&#039;t listen to what he offers, stay with the place empty and then curse him together with the market&#8230;)\n<\/p>\n<p style=\"text-align: justify\">\n\t&nbsp;\n<\/p>\n<p>\n\t<strong>&#8230;while some others tried to serve me properly<\/strong>\n<\/p>\n<p class=\"indentfirstline\" style=\"text-align: justify\">\n\tIn the same time, there was a serious minority who was doing all possible so as to work with professionalism and self respect. Even if I didn&#039;t finally rent a space by&#8230; everyone, I was happy to collaborate with several serious people. Not a lot, I told you, a minority. <strong>But I met a significant number of Real Estate professionals who really wanted to work correctly, serve me as client and receive their fees, as they have to.<\/strong> (We should not forget that a Real Estate professional has to be paid too, because <strong>there<\/strong> <strong>are many people out there who want the best service&#8230; for free<\/strong>).\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p align=\"right\">\n\t<strong>(tomorrow the second part)<\/strong>\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t<!--:--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Part 1 My friend had promised to me: &quot;You will come to our building, immediately after we will finish its construction&quot;. &quot;Are you sure?&quot; &quot;Definitely, don&#039;t even think about it&quot;. The months were passing by and from the winter of 2008, we reached soon the spring of 2009. At the end of May things changed: [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":59454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[233,204],"tags":[],"_links":{"self":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/2408"}],"collection":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/comments?post=2408"}],"version-history":[{"count":0,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/posts\/2408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media\/59454"}],"wp:attachment":[{"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/media?parent=2408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/categories?post=2408"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.iliaspapageorgiadis.ro\/english\/wp-json\/wp\/v2\/tags?post=2408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}