Angeliki P. was no exception to the rule that finding a rental home in Attica demands time, money and nerves of steel. After failing to secure a place through online listings, she turned to a real estate agent. Eventually, she found what seemed like the ideal apartment in Athens’ northern suburbs. “The owner and I agreed on the price, and I left the agent to handle the tenancy agreement. I even paid a deposit,” she tells Kathimerini.
Just as she thought the ordeal was finally over, a phone call changed everything. According to the agent, the owner had canceled the agreement after another prospective tenant offered two years’ rent upfront and was chosen instead, despite the prior deal. “Beyond being unethical, this was completely unprofessional conduct from the agent handling the mediation,” she says.
The housing crisis has affected not only those navigating the maze of finding accommodations, but also the way Greece’s real estate sector operates. Kathimerini investigated common practices in the loosely regulated brokerage market – a sector which, as even industry representatives acknowledge, lacks clear rules, creating labyrinthine property searches and negotiations.
Brokers
Asked to describe a typical workday, Vassilis Giakoumidis, a broker at his family’s real estate firm, says the job revolves around two main tasks: meeting property owners to inspect homes for sale or rent, and meeting prospective buyers or tenants.
