Should I sign an intermediation contract?

If you would like to take advantage of the services provided by Yavlena, you have to regulate your relationship with the company in the form of an order contract or the so-called "intermediation" or "assignment" contract.

It is a simplified form stating the rights and obligations of both parties - both yours and those of Yavlena to you. The basis of the contract is the setting of the details of the parties, the parameters of the service to be provided to you and the remuneration due to Yavlena for rendering the stated service. Consult your broker which type of contract is the most appropriate in your specific case. Be alert as to agencies and brokers working without contracts, not stating clearly their responsibilities.

Should I sign an exclusive contract (a contract granting exclusive right)?

Background

Exclusive rights contract (exclusivity) is a type of intermediation contracts that real estate agencies use to regulate their relations with their clients. Bulgaria is a country with a developing real estate market, therefore exclusivity raises all kinds of questions. In the western countries a standard principle is that each agency has unique offers in the market and works with unique clients, rather than have offers and clients gravitate between several companies, creating unclear relations and conflict situations among the market players. Unfortunately, in our country consumer behaviour is different compared to the western world practices and most clients here belie that the more agencies are engaged to work with their property, the higher the chances it is realised. Practice, however, proves that understanding wrong. A property offered by many agencies is over-exposed and loses its attractiveness to the buyers.

Why you should not offer your property through several agencies

The more an offer circulates the public domain, the more its "life" shortens, it is over-exposed and "worn out", hence it stops attracting the interest of the buyers and the agencies. It is often to the detriment of the best interests of the owner. There is also the vicious practice for one and the same property to be offered at different prices by several companies - often without the awareness and consent of the owenr - causing unfavourable perception by the clients and brokers from other agencies.

Why you should sign exclusive rights contract

Working with only one agency eliminates the risk of all of this happening. Many unproductive calls and meaningless coordination of viewings with "tourists" in the market are avoided. Contacts are kept with only one professional - your broker - who will inform you of the results from the advertising strategy, the comments and feedback from the clients that viewed your property. This broker will manage counter offers from potential buyers / tenants. Exclusive rights also impact on the advertising freedom of the agency, which will be able to freely publish an ad with the exact address of the property (if appropriate in the situation and if agreed with you) in order to prevent potentially doubtful image of your property, unnecessary viewings and unwanted reactions by clients, misled as to the area where they believe the property is situated. On the website of Yavlena (as well as on other modern property websites) this is clearly visualised by the pin placed at the exact address of the property on the map - visible to all clients and brokers in the market and preventing any confusion or misunderstanding. The practice of the agencies to pay more attention and devote more time and advertising space to the offers for which they have signed an exclusive rights contract is not to be ignored.

Why does Yavlena charge a commission fee?

Yavlena Agency operates in a free market economy environment. Real estate trade in Bulgaria is not regulated or subsidised by the state, therefore the consumers pay in full for the services rendered in the same way as they pay to buy a product or another type of service.

Background

Immediately after the fall of the planned economy in Bulgaria there was confusion due to the lack of organisation and knowledge in the area of free real estate trade. This is why the new participants have asked for guidance and mentorship. An answer to many questions was found in the good practices at the American property market and the participants were supported by American representative organisations for the introduction of standards in Bulgaria. One of these standards is the commission fee to be paid for the broker service provided.

Unlike the American colleagues, due to the lack of well-established rules, the Bulgarian brokers are responsible for the overall process related to the purchase - sale or rent of a property: from the marketing and advertisement of the property, through the viewings and inspection of the ownership, to the legal advice and documentary finalisation of the deal. This diverse experience resulted in the accumulation of in-depth knowledge and issue resolution techniques of any nature in companies such as Yavlena, which have survived the tough years of development.

Are viewings paid for in Yavlena?

Absolutely not.

In Yavlena we believe a vicious practice to charge fees for the viewing of properties.

How much does my property sot and do I need a valuation?

If you would like to sell a property it is extremely important to set the pricing right, as the price is a factor that may significantly speed up or slow down the sale. The right price is the price at which you - as an owner - receive the best value for your property in line with the market conditions of demand.

Properties have no absolute value. Just like in any market economy, the price depends directly on the demand. It is recommended to consult a broker in order to set correctly the price of your property before you move on to sell it. The broker will visit the property, will review the documentation which is available to you and will give you as small a range of options to sell as possible, which also depends directly on your desire to sell the property over a certain period of time.

How do I choose a broker?

Yavlena has a branch network throughout the country. Search the "Contacts" on our website to find the address and telephone numbers of the closest office, where you will be directed to the right employee.

Our colleagues at Yavlena can assist you in any type of transaction - sale / rent / valuation. In their work they receive support from a management team having in-depth knowledge of the real estate market, capable of offering a way out even of the most complicated situation.

If you have friends or acquaintances who have worked with Yavlena, you can ask for a recommendation and a referral to a specific broker. If not, you can find a list and presentation of each broker at Yavlena in the "Brokers" section on the website. You can look at the broker's offers and send an inquiry.

The company employs more than 200 people throughout the country. We realise that to you the Yavlena brand is equivalent to your personal experience with a specific broker, rather than the aggregated professionalism within the company. This is why we are trying to develop the skills of our staff and supervise the quality of the services they provide. This is why your feedback is highly appreciated. Please, send your feedback using the inquiry form on the website.

E-signing of documents

Sign without leaving your home

You can now sign documents related to your property transaction using an electronic signature, without having to visit our office.

Which are the documents with respect to which you can save a trip by signing them online

Intermediation contract – you can assign us to support you for the purchase, sale or renting / leasing of a property by signing remotely your contract with Yavlena;
Deposit / guarantee contract – once you have chosen a property to buy and have clarified with your Yavlena advisor the parameters of your proposal, you can sign electronically the deposit contract - as confirmation of your commitment;
Preliminary purchase - sale contract – once the parameters of the deal for the purchase - sale have been clarified and the text of the contract has been agreed through your advisor at Yavlena, you can sign the preliminary contract while sitting on your sofa at home;
Rent contract – if the rent deal contractual terms and conditions were agreed but you are unable to attend in person, you can sign remotely the rent contract which has been already cleared with you.

4 How to obtain an electronic signature, completely online and free of charge*

You can get your electronic signature from Evrotrust in just a few easy steps:

*In accordance with the effective terms and conditions of Evrotrust there is a limited number of documents which you can sign free of charge. If you would like to continue using your electronic signature you can subscribe by choosing one of the plans offered by Evrotrust, depending on how often you intend to use the application.

For which documents you cannot use an electronic signature

Documents for which the law requires notary certification of the signature and / or the content (such as, power of attorney for the sale or purchase of a property and the related declarations, etc.);
Documents subject to entry in the Property Register kept at the Registry Agency (such as, notary deed).

Rent contract or Preliminary contract cannot be signed with an electronic signature if the parties require the latter to be certified by a notary public and entered in the Property Register kept at the Registry Agency.

If you have questions or need further clarification as to which documents can be signed electronically and which cannot, please, send them to us using the inquiry form on this website.

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