On today’s post we emphasize the importance of why should opt on working with a licensed real estate agent when buying or selling properties in the Azores.
Licensed agents, operating legally with a company and an office, adhere to strict regulations, including having liability insurance, paying taxes, and maintaining transparency with a complaints book. They operate without conflicts of interest and represent sellers officially. In contrast, unlicensed brokers, often operating illegally, may pose significant risks to buyers. Some checks to identify unlicensed operators, include verifying their identification, scrutinizing their website and office location, and ensuring agreements are in Portuguese. Unlicensed brokers may use attractive prices as clickbait, manipulate transactions, or engage in illegal haggling practices.
There are also some unlicensed individuals offering construction services, a service where you need for proper licensing, insurance, and qualified staff for such activities. Don’t engage with unauthorized negotiators who attempt to secure discounts from property owners already under contract with licensed real estate companies.
Licensed agents do not buy for buyers but represent sellers, providing official invoices and tax receipts. Sellers benefit from tax deductions, reducing the taxable amount on profits. Licensed agents may work for buyers under specific contractual agreements, such as auditing construction or managing post-purchase tasks.