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Low No Of Transactions May Lead To Higher Fees – Romanian Real Estate Agencies Assoc

The low number of real estate transactions closed in the last months might trigger the increase of agents’ fees, the representatives of Romanian Association of Real Estate Agencies ARAI said Monday.
Low No Of Transactions May Lead To Higher Fees - Romanian Real Estate Agencies Assoc
30 mart. 2009, 15:04, English

According to the market data, real estate agencies apply a 3% fee of the transaction value to both the buyer and the seller.

On the other hand, ARAI launched Monday a multiple listing system for properties – MLS ARAI – aimed at encouraging transactions.

The system will allow buyers get exact and complete information on the property they are interested in and will trigger more transparency as regards the price and the number of properties for sale. MLS ARAI properties will be posted on www.mlsarai.ro and on the websites of the network’s member agencies.

MLS is applied in 35 states worldwide, and Romania is the first Eastern European state that adopted the system.