How to search effectively for real estate in the Czech Republic on the Internet
Today’s blog will focus on the process of effective search for real estate to buy on the Internet. Most readers will be familiar with the feeling of weariness and frustration caused by the long hours of often unproductive Internet browsing. If you follow the procedures below, you won´t have to experience this feeling so strongly (I won´t give you a guarantee that you won´t experience it at all, I´d say that it´s simply related to the search). The prerequisite for success is that we have a realistic idea of what we´re looking for and for how much. If this isn´t the case, even the below stated procedure won´t help you. Now let’s get started.
We basically have only two options searching. The first one is to pick up all attractive newcomers and the second one is to work with so-called slow sellers. For the first option, we have to be fast and sometimes we have to be pushy, for the second option we need patience and good negotiating skills.
Picking up newcomers
Set up a watchdog on the below stated portals and keep track of 99% of new offers on the Internet. The watchdog is a feature that e-mails you newly published offers corresponding to your requirements, therefore you won´t have to constantly go through several portals to detect a newcomer and you´ll save quite a lot of time. It should be added that the good newcomer won´t stay long on the portals, so without a watchdog you have little chance to find it early enough before another person finds and scores it.
Set up such a service on the portals:
- Sreality.cz, you can set it up here
- idnes.cz, you can set it up here
- Realitní pes (monitoring 22 portals), you can set it up here
- bezrealitky.cz, you can set it up here
Once you find a good offer, I recommend the following procedure:
- Act. With the help of a watchdog, you´ll be the first one to learn about new offers, seize this opportunity and act immediately. And I really mean right away – as soon as you find out about it, call the broker (don’t send an email) and want a tour. Ask for the nearest possible date, don´t be afraid to go on the very day and cancel any other agreed program that you might have. With real estate at a good price, every hour counts.
- Be decisive. Request a reservation contract in advance and state you´re willing to sign it very soon. Do you homework and study the data entered in the cadastre, as I advised in this article. Be ready to increase the price a little bit if you see that it could help you get the property. You have to realize that many other people will be interested in the advertisement and some of them will certainly be experienced buyers, so there´s no time to be indecisive.
- Go on a tour. If you´re lucky you´ll come to the tour first, reach an agreement and the deal will be done. However, it might happen that the broker or the seller will have a tour with all the interested parties, and there won´t be a handful of them, and organize an auction to achieve the highest possible price. In such a case, I recommend not participating in the auction as the price will usually increase significantly and the offer won´t be attractive any more.
In case you´d like to expand the possibilities of buying real estate, you can leave us an inquiry on the website here and as soon as we have a suitable real estate, we’ll get back to you. We look forward to possible cooperation, Daniel Kotula & team.
Working with slow sellers
A substantial part of the offers on the Internet are slow sellers advertised for many months until the seller discounts them to the market level. Or the seller meets a person who manages to agree on a market price, and all of us have this opportunity. The most frequent mistake is that we don´t go on tours of real estate that is more expensive than the market rate, we don´t consider it attractive. So my tip is to cover the price of the ad and ask myself „is this an offer I like?“ If the answer is yes, go on a tour. If you´re still interested in the property after you see it, it´s time to negotiate with the seller about the price. I wrote the procedure in detail in my article on the website of the online course Million Dollar Real Estate – paragraph in the lower third of the article called Expensive Real Estate: Strategize. Not every seller will want to deal with you, it will depend on their current financial and personal situation and their character. However, I can say that it will be possible to deal with at least 20% of properties, and in my opinion it´s worth trying repeatedly.
If you are interested in the topic of how to effectively search for real estate on the Internet
If you want to become a professional buyer, you can follow the online course Million Dollar Real Estate from the comfort of your home.