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Approximately a quarter of residents would use services of real estate agents upon purchase of immovable property

Riga, November 5, 2014 - Approximately a quarter or 27% of the economically active residents of Latvia would use services of real estate agents upon purchase of immovable property to know about the current market supply or due to lack of time for the search of immovable property, shows the research conducted by the real estate company Ektornet and the research company TNS.

Replies of the respondents point at significant differences of opinions in different residential places of Latvia. Comparatively more often services of real estate agents would be used for better understanding of the current market supply by one third (32%) of the respondents residing in Riga. Whereas, approximately one third of the residents of other cities and rural territories point out that upon purchase of immovable property they would rely upon themselves, since, in their opinion, involvement of real estate agent would lead to additional costs in the purchase process of immovable property.

“Experience of Ektornet shows that purchase of immovable property may turn into a complicated process, and quite often the purchaser may not have full information about the object currently on sale and he/she does not even know about various critical matters that the attention definitely needs to be paid to. Sometimes matters to be faced by the potential purchasers are as complicated that trusting of solutions of those matters to professionals would be useful. Taking into consideration importance of the purchase of immovable property and the possible cost of mistake, we recommend use of the services of real estate agents, because professional specialist will be sufficiently knowledgeable to help formulate important questions and find the answers. Of course, it is crucial to choose a real estate agent with immaculate personal and the represented company’s reputation,” comments Mr. Andris Kovaļčuks, Chairman of the Board of Ektornet.

According to the research most frequently the residents ask or would ask the real estate agents questions regarding debt commitments of the property or other liens, as well as amount of payments for public utilities and management of the property and the elements included thereof. It must be noted that residents of Riga comparatively more frequently than other residents of Latvia are interested in the house manager, amount of payments for public utilities, neighbours and builder of the house.

About the survey

Survey of Ektornet and TNS was conducted between March 19 and 24, 2014 via internet in the entire territory of Latvia by surveying 1000 residents of Latvia, aged between 18 and 59. TNS survey in the virtual environment is a representative one for the residents of Latvia aged between 18 and 59. Selection group has been formed on random basis, excluding self-application. Upon organization of internet surveys TNS strictly follow ESOMAR recommendations in the field of formation and conduct of internet survey selections.

About Ektornet

Ektornet is a real estate company established by the Swedbank Group in 2009. Its core business is to acquire, manage and sell real estate in residential, retail, office and industrial segments.

About TNS Latvia

TNS is the leading full service market, social and media research agency in Latvia. We offer our clients a wide range of research types such as consumer opinion survey, company's reputation and staff satisfaction evaluation, brand recognition and brand image study, product tests, mystery shopping, as well as media (TV, radio, press, Internet) audience research performed to international standards, information on and analysis of media usage habits and advertising volumes.

TNS in Latvia together with TNS companies in Lithuania and Estonia form the largest market and social research centre in the Baltic States.
For more information visit: www.tns.lv

Contactinformation:

Laura Vendele
TNS Latvia Marketing Manager
Phone: +371 67 096 300
E-mail: laura.vendele@tns.lv

Aiva Eiduka
Ektornet communications’ consultant
Phone: +371 20 264 899
E-mail: aiva.eiduka@mccannconsulting.lv


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