Shia Getter, CEO of The Getter Group, speaking at The Jerusalem Post’s online Coming Home – Aliyah in Times of War Conference, said people interested in purchasing their dream real estate property in Israel should not wait until they have accumulated sufficient funds to buy a top-of-the-line property in the perfect location.
“I always tell people to buy something in the meantime and not wait. In the end, when you can afford more, you can sell your first property and buy something else. But if you wait, you’re not in the game, and you lose out by waiting because the prices keep going up.”
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As the founder and head of The Getter Group, he utilizes his knowledge and expertise to help people navigate the complex process of buying property in Israel today.
Getter explained that many potential real estate purchasers in Israel are concerned that they will be misled or overcharged by people in the real estate business and, as a result, do not buy anything.
The Getter Group, he said, ensures that clients are educated and are aware of the potential pitfalls ahead of time.
Relating how buyers working on their own risk being overcharged, Getter related the story of a woman who had signed an official registration form to purchase an apartment on paper, which obligated her to pay a certain price. The woman had not shown the form to Getter.
After she signed the agreement, she was in doubt if she had paid a fair price or had been overcharged.
She showed the contract to Getter, who informed her that she had significantly overpaid for the property. Nothing could be done about the price since she had signed the Letter of Intent.
However, Getter had the property professionally assessed and returned back to the sellers.
He told them they had significantly overcharged her for the property and insisted that they make it up in some way. The sellers agreed. “We managed to get this client more amenities and things included in the price to cover the price that they paid, such as extra storage space and additional parking spaces,” he said.
Clients purchasing a property with the assistance of the Getter Group, explained Getter, follow the company’s systematic checklist to ensure that they receive assistance in all of the steps necessary for purchasing a home in Israel, including choosing, signing the contract, arranging the mortgage, and hiring interior designers.
USING THE concept of a compass and its four directions, Getter explained how potential buyers can successfully navigate a purchase.
“‘North’ refers to your direction – where you’re heading. ‘East’ tells you why you’re buying the property. ‘West’ refers to the tools you have, and ‘South’ refers to what holds you back. Proceeding with his explanation of the directions, Getter said, “‘East’ is why you’re buying this. There are many questions you have to ask yourself before you buy. Are you buying this for your own purpose, for your own sake? Are you purchasing this for your kids?
Are you planning to make aliyah? Some people buy for investment. Others want a second home for vacations. It is important to understand the ‘why.’
“‘West’ refers to the tools you have. In our case, they don’t need many tools. Usually, a person purchasing here would need a lawyer, mortgage broker, designer, and engineer. We get together the whole set of ‘tools,’ and the client just needs to decide on the budget. ‘North’ means where you are heading – the property’s location.
Finally, we have to deal with the South. What’s holding people back? Sometimes, people are afraid of purchasing, so we have to deal with their fear. I help them figure out what’s holding them back.”
What tips does Getter have for potential buyers in Israel? He reiterated the importance of buying sooner rather than later, even if the initial property is not the client’s ‘dream’ property.
Second, he shared, “It is important to have a Plan B. Even after you choose your apartment, things can go wrong. If you have a Plan B, you will know that if the first option does not go precisely as you want, another option is available.”
Finally, he noted, there are many ways to negotiate, and negotiation isn’t always about the price. “There are many things you can negotiate,” he concluded.
Two property experts from the Getter Group, Shmuel (Luky) Guigui and Sivan Ohayon, participated in a panel discussion on real estate trends in Israel at the conference.
Guigui explained that the Getter Group, with its years of experience, can clearly explain to clients how projects that exist on paper will look when completed.
Ohayon added that the company can truly understand what clients are looking for to meet their specific needs. “We are the head, eyes, hands, and feet of our clients here in Israel.”