A nationwide realtor network of lawyers, called ÜgyvédHázak, is entering the domestic real estate market as a new player with 23 offices and seven locations, according to a press release sent to the Budapest Business Journal.
ÜgyvédHázak says that approximately 150,000 real estate transactions are made each year on the national level, with almost all of them involving a lawyer. However, the press release says that lawyers are not only able to help with the contracting work and title registration.
Among other benefits, ÜgyvédHázak notes that their lawyers are also available for real estate brokerage services and their engagement typically involves lower fees than the commissions of the well-known Hungarian real estate networks. Their activity is subject to mandatory professional, ethical and data protection rules and is supervised by the chambers of attorneys to protect clients, too.
Lawyers also have liability insurance in relation to realtor activity. In addition, lawyers are entitled to handle money deposits under controlled, transparent and legal conditions.
As of January 2020, lawyers are required to undergo continuous training, which includes not only legal knowledge in real estate brokerage, but also knowledge related to technical characteristics of real estate, real estate photography and the latest marketing tools.
The quickly expanding network aims to provide realtor lawyers in every larger or smaller Hungarian city.
" Lawyers are also entitled to handle financial escrows in a lawful and supervised manner in real estate transactions," explains György Zalavári, founder of ÜgyvédHázak.