The National Real Estate Brokers' Bureau has approached the Administrator-General and the Official Receiver, Sigal Yakobi, asking that professional real estate brokers with knowledge and experience be included in receivership proceedings.
Follow Israel Hayom on Facebook and Twitter
Bureau Chairman Itzik Levi and Roee Salzman, co-chair of the Sharon District, wrote a letter to Yakobi warning of the current situation in receivership proceedings, in which no effort is made to maximize the deal for the property owner. "A skilled, professional broker specializing in the subject can use his knowledge and experience to maximize the deal for the owner, who is already in great distress."
The cost of the procedure for the property owner is a 6% fee paid to the receiver (including all expenditures). They requested that brokers who are included in the receivership process, receive a percentage out of the total cost – that is, a 2% brokers' fee out of the 6% paid to the receiver.
"Receivership proceedings in Israel – a critical process that should be conducted with high sensitivity – are historically unjust, causing millions of shekels in damage to creditors and customers," reads the letter.
Levi: "Today, the lawyer managing the receivership process advertises the property in the media and sends representatives to show it to potential buyers. Interested buyers are then invited to submit an offer and begin negotiations before the receiver."
Subscribe to Israel Hayom's daily newsletter and never miss our top stories!
Salzman: "Real estate brokers should be involved in the marketing process. The brokers in question will have licenses from the Ministry of Justice and will be members of the Real Estate Brokers' Bureau, with at least 10 years of experience, management knowledge, and recommendations."
This article might include sponsored and commercial content/marketing information. Israel Hayom is not responsible for its nature or its credibility. The publication of such content or information shall not be considered a recommendation and/or an offer by Israel Hayom to purchase and/or use the services or products mentioned in this article.
