Do Bulgarians use the services of real estate agencies?

Bulgarians are traditionally cautious when it comes to major financial decisions, and buying or selling real estate is one of the most significant events in every person's life. The question of whether to trust real estate agencies is multifaceted and depends on various factors such as personal experience, recommendations, legal regulations and even cultural attitudes. While some people believe that the intermediary is an unnecessary expense, others see in it security, expert advice and efficiency.

Trust and prejudice towards real estate agencies

Historically, Bulgarians have been somewhat distrustful of intermediaries, whether in financial, legal or real estate transactions. The main reasons for this are:

1. Bad practices in the past – In the years after the transition to a market economy, there were unscrupulous intermediaries in the real estate market, which created a bad reputation for the sector.

2. Lack of clear regulation – Until recently, real estate agencies were not strictly regulated, which led to uncertainty among customers.

3. Attempts at an independent transaction – Many Bulgarians believe that they can buy or sell property themselves without paying an agency commission, despite the risks of a lack of expertise.

However, over the past decade, the market has begun to professionalize. Many agencies are introducing international standards of work, transparent conditions, and professional service, which is gradually restoring client trust.

Why do some people prefer to work with an agency?

Despite doubts, most people choose to trust a real estate agency for the following reasons:

• Professional consulting – Agencies have experts who can properly assess the market, give a realistic price for the property, and ensure legal certainty for the transaction.

• Save time – Finding a buyer or seller on your own, organizing viewings, and negotiating can be extremely time-consuming and stressful.

• Access to a wider range of offers – Agencies have large databases of properties that the private client does not have easy access to.

• Legal certainty – Ensuring that all transaction documents are in order and there are no hidden problems with the property.
  
  

When does a Bulgarian prefer to avoid agencies?

On the other hand, there are also many people who still avoid working with agencies. The main reasons for this include:

• Desire to save on commission – Some clients believe they can save 2-3% of the transaction value if they complete it without an intermediary.

• Bad previous experiences – People who have had negative experiences with agencies often avoid using them again.

• Distrust of intermediaries – Although decreasing, distrust of intermediary services still exists.

The market is evolving towards greater transparency and digitalization. Online platforms like IMI.BG enable direct connections between buyers and sellers, but also offer a place where agencies can upload their offers without being displaced by hidden algorithms and paid positions.

In the modern world, people increasingly value their time and are willing to invest in quality services if they guarantee security and convenience. If agencies continue to work professionally and offer added value, it is likely that more and more Bulgarians will start using their services without prejudice.

Ultimately, trust in agencies depends on the way they present themselves to the client. The more transparent and helpful the services are, the fewer people will avoid them, and the Bulgarian will gradually accept the professional intermediary as an integral part of real estate transactions.