How to avoid dealers and buy directly from the owner? Why almost all property on zameen.Com is advertised by dealers?
You can avoid dealers for sure. But then the risks are yours. Few of those are (1) fake project, plot, ownership (2) less knowledge of background and potential of the project (3) unsecure deal (3) authenticity of documentation for purchase/transfer (4) hassle of getting the purchase/transfer docs completed and getting registered and so on …
Agreed with Mr.Malik Majeed
Thanks for the response.
This industry (the middle men) mostly steal out of the deal their hidden commissions on top of the legit 1% from both parties. And in good reputable societies e.g., BT, both parties can go to the BT Office and get the transfer without much of the risks mentioned above.
Basically, websites like OLX and Zameen were supposed to facilitate seller-purchaser contacts, but unfortunately are plagued by the dealers.
Akif brother reason behind this is because ordinary buyer seller not know genuine market price of property.
In case of goods where genuine price is known to buyer and seller, there people can trust on websites. For example in case of cars people buy and sells on Pakwheels website. There are also middle man there but real customer also visit pakwheels.
Property industry is like this. To avoid hidden commission you can always check price from 3/d different sources. After that you can evaluate genuine market price for a particular property.
Moreover, I have seen genuine seller asking more price also.
Thanks @li;
I agree with most of the points you mentioned. However, in a free market, demand & supply equilibrium sets the price - aka the break-even point.
I know of property deals in which even dealers were unable to catch sellers who ran away taking the bayana (advance money). Anyway, I'd still hope to see a reasonable proportion of properties selling by individuals rather than property agents on these websites. That would empower general public.
Agreed with Akif. Zameen website should have separate category for ads by owners. Dealers shouldn't be allowed to post in that category.
Biggest culprits are societies management (real land-mafia) who basically own these dealers and make them do dirty deals and create fake market values of plots. Honest dealer cannot survive in these societies. They will kick him out. They will not even register them to do business.
Try olx also. Direct buyer sellers are more active there.
Dealers can help you in many ways, you may try to negotiate for lower commission charges which is normally manageable if you do your home work and have little bit of know how about the market situation…dealers are generally cooperative and happy to work even at nominal charges…
I am based in the UK and I feel there is an opportunity for an auction-house property selling model in Pakistan, where buyers and sellers can come together under one roof, maybe twice or thrice a year. There is the obvious, drawback, in that the title documentation / deeds must be verified 100% before being able to sell through this route.
Through “smart contracts” and peer-peer networks growing in different fields, the “middle’man” community will have to look for some other business in future. Meanwhile, however, they will enjoy reaping huge benefits in countries having enormous trust gaps among the citizens.