Joint business: Procedure and advantages in the real estate sector
Win-win situation for all parties involved in joint business
For estate agents, it can be useful to cooperate with other estate agents in the joint marketing of properties. For example, if a potential buyer is looking for a property in another city, it is useful to invite a colleague into the business. Brokers must agree the exact procedure with their colleagues in advance to ensure that the joint operations run smoothly.
Joint deals can be beneficial for brokers
Joint business transactions between brokers have clear advantages. On the one hand, real estate professionals can offer a wider range of different properties. On the other hand, they can also sell apartments and houses that they would not have in their portfolio, for example with an estate agent from another city.
Joint transactions have the advantage for us that they are completed more quickly. Sometimes a colleague has a client who is only interested in one of the properties we have in our portfolio. However, there are reservations in the industry. Many colleagues prefer to run their own business. In order to avoid such joint transactions leading to a dispute, the conditions for cooperation should be determined in advance.