Real estate transactions are not only intricate but inherently complex. In Kenya there are many laws that govern property transactions and if breached, could result in loses, lengthy litigations and at worst imprisonment.
First, it is crucial to recognize the significant benefits that result from working with a real estate agent who has been properly registered when it comes to property transactions in Kenya. This claim’s justification is based on the real estate industry’s complexity, which calls for the competence and direction of specialists with in-depth subject knowledge.
By using a registered agent, people can make sure that their real estate transactions are handled easily and securely and reduce any dangers related to dishonest business practices or insufficient legal protection.
When an ordinary untrained person realizes the complexity involved in real estate transactions, confusion can easily set in. These complexities cover a broad range of elements, such as regulatory requirements, market dynamics, property assessments, financing possibilities, and tactics for negotiations. To properly negotiate the maze of real estate transactions, one must have a solid awareness of and precise attention to detail toward these elements’ labyrinthine nature.
7 Reasons why you should work with a registered real estate agent in Kenya
Its the law
Working with a licensed real estate agent in Kenya, other than assuring a safe and easy journey through the complex world of real estate transactions, is a requirement by the law. The Estate Agents Act of 2012 seeks to protect those who receive real estate agency services by regulating the real estate agency sector in Kenya. It requires all those who deal in property to be registered by the EARB and hold valid practicing certificates that are renewed annually. This accords any member of the public the opportunity to file a complaint to the board for any misconduct and the board has power to penalize the agent.
It protects the client
Registered real estate agents a required by law to be insured against the loss of their clients funds entrusted to them. This indemnity cover protects the clients against any loses resulting from any misconduct by the agent.
It makes it worthwhile for the agent
The Estate Agents Act defines the scale of compensation for the services provided by the real estate agents. It also provides for ways for the Real Estate Agents to litigate for commission for their services.
It gives the client an edge
The Kenyan real estate market is very dynamic. Many changes and new regulations take effect every so often and it changes the property dealing processes. A proficient agent possesses in-depth knowledge of market dynamics, enabling them to provide valuable insights and guidance to their clients. With their finger on the pulse of the market, they can help clients make informed decisions and seize lucrative opportunities.
Peace of mind
Engaging the services of a registered real estate agent provides an added layer of security and peace of mind. By working with a licensed professional, individuals can rest assured that they are dealing with a trustworthy and accountable party. The agent’s registration signifies their commitment to ethical practices and adherence to industry standards, thereby minimizing the risk of fraudulent or unscrupulous dealings.
It gives better results for the client
In addition to their expertise and network, registered real estate agents also offer valuable guidance and advice throughout the entire process. They can provide accurate and up-to-date market insights, enabling buyers and sellers to make informed decisions. Their understanding of market trends, pricing dynamics, and negotiation strategies can prove instrumental in achieving favorable outcomes.
Its the smart thing to do
Ultimately, the decision to work with a registered real estate agent in Kenya is a prudent one. Their unrivaled expertise, extensive network, commitment to ethical practices, and valuable guidance make them an indispensable ally in navigating the complex world of real estate transactions. Whether buying or selling property, partnering with a registered agent ensures a smoother and more successful experience.
How to check if the real estate agent you are dealing with is registered in Kenya
Buyers and sellers can log onto the EARB’s website at https://estateagentsboard.or.ke/ to verify whether they are registered as well as licensed for the current year. You can also request them for copies of their registration certificate as well as their current practicing license.
I am a duly registered agent, my registration number is 2229. Feel free to reach out for a consultation on matters real estate in Kenya through email@example.com.