The Pros and Cons of a Real Estate Agent in Prague

Turning to a real estate agent in Prague to find a property can be a worthwhile expense—or a complete disaster. How can you tell when it’s justified and when it’s not? Keep reading to discover all the answers…

Know Yourself and Your Financial Situation

First, you need to decide what you want. And no, we don’t mean “a lovely apartment in Prague’s Old Town, on the top floor of the building,” but something entirely different. For example: what is your budget, how much flexibility do you have, and how much mortgage are you willing to take on?

A realistic view of your financial status will help you understand what you can afford—and equally important, what you can’t. With that in mind, you can begin weighing the pros and cons of working with a real estate agent in Prague.

Buying Property in the Czech Republic Without an Agent

If you’re looking to buy property abroad—and Prague is no exception—the process can get complicated, but it’s not impossible. Most countries allow you to purchase property without needing a real estate agent, but you’ll need to know the local regulations in depth. That means doing your homework (in Czech!) and understanding the market like a local.

You’ll need to find out which similar properties were sold, market trends, financing options, and the procedures required from foreign citizens. In Israel it’s relatively easy thanks to tools like Madlan, but no such tool exists yet in the Czech Republic.

Every deal comes with nuances and legal aspects—which could expose you to beginner mistakes.

Another drawback: there’s a good chance you’ll miss out on properties, as some listings are shared only within real estate agency networks and are not publicly available.

Buying Property in the Czech Republic With an Agent

If you want to save yourself a headache, it might be best to hire an agent. However, you should be aware in advance how the payment works—for example, who pays the agent’s commission and how much it is as a percentage of the deal.

Note: there’s a clear conflict of interest when buying through a real estate agent. If they work on commission, their goal is to close the deal as quickly and at the highest price possible—so they can move on to the next deal. That means minimal effort and time spent on your purchase. The result? You lose out. So even if you choose this path, don’t compromise on getting recommendations. Never work with an agent who can’t show referrals. The low bar for becoming an agent in the Czech Republic means that many unqualified people are offering services. Did you know that you don’t even need a real estate license to work as an agent in the Czech Republic?

Getting the Best of Both Worlds

That’s why the best way to buy property in Prague is a middle-ground approach—work with a senior, experienced agent who can provide recommendations and partners with a local real estate attorney. This way, you’ll enjoy full legal protection via formal contracts, professional handling of paperwork, and avoid conflicts of interest that might work against you.

Looking to purchase real estate in Prague? Get in touch—we’d be happy to share the names of clients who’ve made great deals with us over the past decade.