The Phoenix Project


Recently I have been watching some of the YouTube videos that have been produced by Laura for The Phoenix Project. This lady and her heavily tattooed husband, Anthony, have bought a property in Bulgaria. (Only one and a very cheap one at that.) It is therefore quite absurd for her to be recommending (or criticizing) any property agents anywhere in Bulgaria. Okay, Laura may have had a bad experience with one agent, Ideal Homes, on one occasion. Someone else may have had a very positive experience with the same agent. (In fact, I know several people who have been very pleased with the services they had from Ideal Homes.) More annoyingly, Laura does not say why she thinks that Ideal Homes are not much good. She also fails to face up to the awkward truth that if you buy a property at the bottom end of the market, maybe 10,000 euros or less, then you really cannot expect to get the same level of service and support that someone buying a more expensive property would receive from their agent. That is unrealistic. 


Another little problem that she does not mention is that in Bulgaria there are quite a few property owners who sign agreements with estate agents, so that the only way you can buy that property is through that particular agent. This means that often you must deal with that agent, however bad you might think they might be, if you want to buy that property. Yes, some estate agents in Bulgaria are a bit incompetent, lazy and unhelpful, rather like their cousins in the UK, but at the end of the day it is your decision whether or not to buy this or that property. No one is forcing you to use the services of this or that estate agent. In Bulgaria, some agents will help you to arrange for the electricity and water bills to be sent to you, the new owners, and maybe sort out one or two other problems. However, an estate agent is not there to give you long-term help and advice. 

Another issue that is not discussed in her YouTube videos is that very often estate agents will not cover the whole of Bulgaria, but only a fairly small area. 


My wife and I are big fans of Yantra Homes, but Yantra Homes only cover the Veliko Tarnovo region and that is not much use if you want to buy an apartment in Sofia or something on the Black Sea coast. 


So is it better to avoid agents altogether, as some readers on Laura's YouTube channel have suggested, and instead try to buy directly from the seller? Well, often you can't do that, if the vendor has signed a "closed shop" agreement with an estate agent. Secondly, how are you going to find out about properties that are for sale? Lots of properties are advertised by estate agents, but how do you find out about private sales by vendors? Not so easy. 

Thirdly, estate agents will usually have keys and be able to show you a property that is for sale, even if the vendors are out of the country. If you are a bit short of time, it might not be possible for you to see the property if it is a private sale. 

Fourthly, most estate agents in Bulgaria will be able to drive you to see a property that is for sale. If you really do not know the area and you do not speak Bulgarian, then arranging a viewing and actually finding the property might be just a little bit difficult. No, I do not agree with the rather racist idea that all (or most) Bulgarians see foreigners as cash cows. It is your own decision whether to buy that property or not. You might think it's a wreck and a waste of money: someone else might love that property and think that it is a bargain. If you do not like what is on offer and you think that the price is too high, then my advice would be to smile politely and walk away.


In case, you are wondering, yes, Laura and her husband do make money from their YouTube videos and no, I do not make a penny from this blog. Never have and never will.


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