Trust - is there an alternative ?

A real estate agent oversees the sale or purchase of a property from start to finish in order to represent the best interest of the client.

That is the sum of it. Nothing more, nothing less.
But can we trust that this is how it always works?

Some time ago you decided to look at either selling, renting or purchasing a property in Ubud.
You did chose UbudProperty to help you, and this is why you receive our thoughts and news relating to property in Ubud.
Thank you again kindly for your trust.

However, – is your trust in UbudProperty, or any other broker or property agent indeed justified? 
After all, they say, solicitors, professional gamblers, bankers, many politicians and many real estate agents should be collected in a big bag, and when you bash it with a solid piece of wood, you’d always hit the right one.
There must be a reason for such sentiment.

There are probably hundreds of jokes about the honesty of people who are working for a commission. The payment as reward for a successful deal is often the motivation to bend the truth from ‘just a little bit’ to an outright lie.

“The trust of the innocent is the liar's most useful tool”. Stephen King

Legally there is no standalone duty to disclose facts about a property to the buyer. However, even silence can give a false impression, amounting to misleading and deceptive conduct.

The impact will be magnified, where local customs and habits are not known to the foreign buyer yet.
Your agent has to feel here an extra strong moral obligation to find out precisely which kind of property suits best and then, suggest and guide you towards the most suitable option(s) in this largely unfamiliar territory.

How can you know that you are dealing with an honest, experienced and fair minded person? You cannot.
But life taught you already little by little how to look for the truth.
You may have heard this one:
“Deceit comes in through the ears, but usually leaves through the eyes.”

We could even search the internet. There are ex-CIA agents selling their knowledge about how to spot a liar. Well, I wouldn’t go this far, but some of those basic ideas sure have value.

Take me, as example. In my life I have been ‘around the block’, as the saying goes.
In my over 50 years of professional and personal experience I learned from failure and successes, from meeting the good and the other people. Some friends, even my wife(!) say that I am not the darkest candle in the chandelier, -but still today I don’t always know, if someone is trying to play with my mind, and if I can truly trust.
The lesson learned though:
‘Fool me once – shame on you. Fool me twice - shame on me’.

The problem is, we do not always follow this insight. If we want something, like buying the home of our dreams, or a property for investment, we hope that we can believe everything positive we hear about the choice. This wanting to believe is often responsible for not digging deep enough into the more complex issues.

No doubt, you know all this. But since we are not talking about buying a bag of popcorn, maybe your life savings, and even your general happiness is on the line. Serious stuff to think about.

What, if there are some methods and indicators to check out that you indeed deal with a professional trustworthy entity as your chosen real estate professional?

Real estate agents are, by and large, honest and ethical professionals. However, a few of them might lie about the details of their own credentials, the value and condition of a property, or the amount of interest in a property.
Whether buying or selling a property, you should consider the amount of experience, number of listings, and specialization of a real estate agent, before opening the door to their office.

Your check list may look like this:

• How many years in business?
• Are there recent verifiable references?
• What does the local community say about the Agency?
• Does your agent deal with far-away areas, of which he cannot know much?
• Is there membership to an organization, such as the Real Estate Institute of Indonesia?
(important for permanent upgrade of legalities and procedural knowledge)
• Does my agent use latest technology in survey (e.g. drones). In marketing (professional video presentations, etc.), in connecting to the top marketing portals in Bali and elsewhere?
• Is my agent well connected with the local leading and experienced professionals, like
an established Notary, Solicitors, also decision makers in Land and Tax Departments?
• Is the paperwork readily translated into in my language, transparent and easy to understand?
Check their website and public comments. Verify, verify …

As soon as you enter your Real Estate Agents or Broker’s premises, a range of other information is also available to you:

• Does the place look organized and tidy?
• Is there an area provided, to exchange personal information in private?
• What is your impression of all staff present? (Staff selection shows the level of care the business will give to you.)
• Is there life and activity? (Or may you be the only visitor in a week, and why is that so?)
• Are you immediately introduced to the most relevant staff to help you?

Keeping an open eye and being reserved at first, until you have reason to believe you are in trustworthy hands, is not as difficult as brain surgery. Everyone should follow these simple rules above.

Time flies. You may want to get back to what you did, before opening the email. It’s for everyone extra busy towards the end of the year.
For many this was not not an easy one and with new varieties of the dreadful virus coming up, we also face uncertainty regarding the midterm future and regulations.
However, is this a reason to let the head hang? Surely not.

Btw. You may remember your school lesson about Charles Darwin.
In ‘The Origin Of Species’ 1856, he says that a virus or bacteria, which is killing it’s host, is doomed to die out, because the dead cannot infect others with the species any more. Doesn’t it make sense?
Over time it will come to this. Someone will say: ‘ hi, you look a little tired today ‘ answered by: ‘ maybe the flu, may be Corona or one of those viruses. No worries, I will get over it in a day or two. What’s for lunch?’

Ears up and look at the bright side – Money was saved. No travelling means no money spent, and there is the saving from the cancelled cultural events, from those restaurant visits and what else not, when there was no fun anymore in spending.

Well, back to your savings. Grab them, go out, waste the money (Gucci will appreciate), buy something fancy, give money generously away to family and friends…
(Just kidding)
Better, much better -
consider improving your life quality by securing your financial future and finding peace of mind.
Check out the options. Read up on inflation, listen to reports about the worldwide economy, don’t neglect to think about the value of your time… And if you do such a thorough research, you will likely end up thinking about investing into property.
Buying an apartment in Singapore, a block of land in Northern Thailand, a bungalow in the Philippines, renting in Portugal,
or –
choosing a property in Ubud/Bali.
I trust that you come up with the right conclusion anyway.

However, if you value additional advice on any property related issue here in Ubud, UbudProperty has been a part of our town for many years. As result a consistently good reputation has been earned, and long-term experienced local staff are there to assist.
It is worthwhile to tap into the knowledge of our team, relating to locations, legalities, pricing…

Why not tell us what is on your mind, and you will probably feel comfortable from the very beginning. Maybe even trusting. All for free and free of any obligations.

But better be quick! Who knows, we may be soon replaced by AI and robots.
Less fun then and no free coffee anymore!

Over Christmas we will be closed for a few days. 
For the festive time we wish you much enjoyment and then - off you go, into a Healthy and Happy New Year !

See you in ‘22,
and with kind regards, as always,
Yours Ray
and the Team of UbudProperty.