Real estate agencies and agents
Real estate agencies are legal persons set up based on the holding companies law 1/1990, republished in 1998, having real estate as their object of activity.
The practices of the Romanian real estate market imposed the so-called „double real estate agent”, who generally represents not only the vendor, but also the purchaser. Therefore, the „double agent” represents the interests of both parts during the transaction. As a consequence, both the vendor and the purchaser pay a commission. The commission is usually paid as it follows: the vendor pays approx. 2% of the selling price, while the buyer pays the same commission added to the purchasing price.
It is a misconception to think that one can save money by not appealing to a real estate agency. Buyers could end up paying more than they should, while vendors could accept smaller prices than what they would have obtained with help from a real estate agency.
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