Perhaps you’ve been searching for your Italian dream home and have come across ads for properties that leave you scratching your head in confusion. Why aren’t there more and better photos? Why is the description incomplete? Why is it unclear exactly where the property is located? To answer these questions, we first need to understand how real estate works in the bel paese.

Lack of Integration

If you’re coming from a country with a more interconnected real estate network, like the United States, for example, one of the first things that will strike you is the lack of integration in the real estate industry. There are many, many, many small agencies, most of which have a selection of properties available exclusively through them, and while national and international chains do exist, buyers may find themselves bouncing form agent to agent within the agency as they look at properties in different locations. And there is no US-style MLS (Multiple Listing Service) system!

This lack of integration is due in large part to the historic lack of regulation of the real estate industry and especially real estate agents (real estate agents were very loosely regulated until 1989 when some of the first laws that established licensing procedures, training, penalties for operating without a license, etc were passed), which led to a ‘wild west’ of practices with the philosophy being ‘every man for himself.’ Since the passage of these regulations and subsequent updates and modifications to the law, the industry has become more and more standardized, and a generally safer environment for buyers and sellers. That being said, the phenomenon of unlicensed agents remains rampant, and both buyers and sellers should always ask to see proof of an agent’s licensure (more on that below).

Ok, interesting history lesson. Now why are these ads so bad?

When it’s every man for himself, the objective is to protect your interests as a real estate agent or agency. Realtors work hard to establish trust with sellers and to get the ‘incarico di vendita’ (sale contract) and as soon as a property is rumored to be vacant (or of an impending vacancy), you can be sure that every agency in town will have called, stopped by, or spoken personally to the owner.

The sale contract can be awarded to an agent/agency in several forms – exclusive, meaning the property listing is exclusive to the specific agent/agency; co-exclusive, where the property listing could be exclusive to two or more agents/agencies; or non-exclusive, meaning the property owner could allow any number of agencies sell the property. Especially in this last type of sale contract, the listing agent is going to do whatever they can to make it difficult for their competitors to find out which property it is that they have for sale, leading them to post ads with only a few, poor quality photos that may not show much of the property, little or misleading information, or inaccurate locations for the property (if the location is even specified).

Costs

Another important factor to consider is the costs involved in taking photos, recording videos, and publishing ads. While the costs involved in a one-hour photo shoot can be relatively low, many agents wouldn’t consider this a good investment, especially if it were a property that they couldn’t show all of (for reasons listed above or because the property is a disaster). This is also true for low-budget properties, properties that the agent is sure they can sell without professional images, and properties that they consider to have no foreign appeal.

Privacy

Italy has very strict personal privacy laws. Some property owners withhold the right to have photos taken of their property or too much information shared about it, leaving agents to do the best they can with what the owner allows.

How can buyers cut through this craziness?

Rather than spending hours sending emails for more information and photos to different agencies that elicit little or no response, or spending evenings trying to call agencies in Italy, hoping to find someone who can communicate with you, potential buyers should consider contacting a licensed buyer’s agent that is fluent in their native language as well as Italian. Engaging a licensed agent who can work on your behalf in Italy will save you time and headache, allowing you to have someone on the ground who can get in touch with different agents and agencies on your behalf to find out about the properties that you are interested in, and will work on your behalf throughout the purchase process. These specialized, licensed agents work much as a buyer’s agent does in other countries, and as compensation receive a percentage of the commission on the sale (as buyers and sellers typically pay commission on real estate transactions in Italy).

Wait, you said licensed a couple of times…

Yes! Protect your interests. One of the first questions that potential buyers should ask of their agent is if they are licensed or not. An agent should be able show their PERSONAL license on request (which could be a physical card, but most likely a ‘visura,’ a copy of their registration with the local Chamber of Commerce which contains their personal license (REA) number – see example below). Showing the agency’s license isn’t enough, as unlicensed agents can even own real estate agencies in Italy! Licensed agents are legally required to be protected by personal malpractice insurance, guaranteeing you recourse if they make a mistake. Unlicensed agents are not able to be insured, and therefore recourse options for buyers are extremely limited.

I’m your licensed, bilingual realtor in Italy and would be happy to help with your Italian property project!

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