Tips for Selecting a Reliable Property Agent in Bali

Choosing the right property agent is important to purchase or sell a property in Bali.

A professional and reliable agent can help you navigate the complex real estate market, negotiate the best deal, and meet all legal requirements. However, with so many agents to choose from, it can take time to figure out where to begin. 

Therefore, this article will explore some essential factors when selecting the right agent property in Bali.

Bali’s Tourism Sector is Recovering in 2023

The Bali Province exceeded its international tourist arrivals target in 2022, prompting the government to raise it to 4.5 million in 2023 from 2.3 million in 2022. To achieve this target, the government plans to organize cultural and sports events and meetings, incentives, conferences, and exhibitions (MICE). 

The Bali Tourism Office has issued a Calendar of Events 2023, featuring 66 events, to show its readiness to welcome tourists. The events include 51 cultural events, 13 particular interest or sports events, and 2 MICE events. MICE and cultural events contributed the most to Bali’s tourism in 2022. 

The government has also been open to welcoming tourists from China, resulting in China becoming the second largest contributor to international tourist arrivals in Bali. 

The government is optimistic that the arrival of more Chinese tourists will help achieve their target of 6.3 million international tourists or at least 4.5 million international tourists by 2023. 

With these efforts, the Bali government hopes to return the province’s tourism to pre-pandemic levels.

The Prospect of Investing in the Bali Property Market in 2023

The pandemic’s effects on Bali’s real estate market persisted in 2020, as seen by a fall in sales and prices. However, many investors are starting to reenter Bali’s real estate market as things recover. 

The interest is mostly due to the comparatively low costs and Bali’s reputation as a secure and reliable place to invest in real estate for many purchasers, particularly those from Asia.

The market for real estate in Bali kept improving in 2021, with a notable rise in real estate transactions and steady real estate values. In addition, the island’s tourism sector also revived with the increased number of tourists. 

Bali’s Appeal For Property Investment

The appeal of Bali as a tourist destination, the island’s comparatively reasonable pricing compared to other well-liked tourist locations, and the rising number of international investors interested in purchasing property on the island are all factors driving the island’s real estate market forward.

The Bali real estate market has grown significantly since 2022 due to the potential the industry has attracted many investors. However, there are also worries about overdevelopment and a need for more infrastructure to accommodate the expanding tourism industry. 

The global economic environment has an impact on the Bali real estate market as well, and the epidemic is predicted to have a short-term effect as well. 

Nevertheless, the appeal of Bali as a tourist destination and the rising number of international investors interested in purchasing property on the island is driving the long-term prospects for the Bali real estate market in a good direction.

Read more: The Ultimate Guide to Property Investment in Bali

The Role of Property Agent and Why Should You Hire One

Securing a property requires a ton of effort and research. There are plenty of factors to consider, and even after determining those factors, it is nearly impossible to look into all available properties and negotiate for each. 

This is the point where a real estate agent becomes involved. A property agent is specifically skilled in dealing with properties and connecting potential buyers with sellers, making it easier for all parties. A property agent is generally in charge of the following: 

• Assisting customers in setting the right asking price for their property based on local sales data and market trends;
• Market the property to potential buyers through online listings, open houses, and advertising;
• Showing prospective purchasers the property and responding to their inquiries;
• Negotiating with purchasers on the seller’s behalf to obtain the most outstanding price and conditions;
• Helping with paperwork and legal needs such as disclosures, contracts, and closing processes; 
• Extending advice through the purchasing or selling process;
• having understanding and familiarity with regional real estate trends; 
• Access to a network of experts, including contractors, inspectors, and appraisers;
• Advocating for and representing the client’s best interests throughout the transaction.

How to Choose the Right Property Agent in Bali

Several factors must be considered when choosing the best property agent in Bali. For a start, the agent must possess a valid license, a commendable past performance, and receive favorable feedback from their previous customers.

Ideally, the agent should know about local regulations and general customs and practices. Aside from that, it is essential to have an agent that fully comprehends your needs, budget, and preferences and can cater to them accordingly. 

The agent should be well-connected with its contacts and resources and have ample access to properties. Investors may want to search for agents that offer comprehensive services that cover negotiation, after-sales support, and property evaluation. 

Lastly, opt for reliable and transparent agents in conducting their dealings.

Given the proper assistance, obtaining a property in Bali is a good investment. 

Apart from engaging a property agent, investors may also consider utilizing the services of InCorp Indonesia (formerly known as Cekindo) to assist with researching land and property ownership.

It helps ensure that the property is well-maintained and properly managed, providing ease and convenience for the investor and ultimately helping to maximize the return on investment.