Boris Pavlov, founder of Flat Manager and Flatimo, reveals serious problems in the real estate market in Bulgaria. According to a study the young entrepreneur cites, 38% of real estate listings on sites like Imot.bg are fake or duplicates, and some brokers use so-called "ad hooks" to attract potential customers with fake offers. Often these listings show prettier pictures or more attractive prices than reality in order to trick people into contacting the brokers. The problem is compounded by the lack of regulation and double commissions taken by both the buyer and the seller, creating a conflict of interest.
Pavlov notes that with traditional agencies, brokers often lead unnecessary inspections because they don't provide enough details about the properties in advance. This results in wasted time for buyers and tenants.
To address these issues, Boris' team created the innovative digital real estate broker - "Flatimo". Flatimo provides complete property information, including exact address and real photos, reducing the need for multiple viewings and making the process more efficient. The platform is innovative for Bulgaria, offering 100% real and verified real estate listings, no commissions for home seekers and no broker involvement. This concept aims to solve the problem of fake listings by providing transparency and making it easier to find a suitable property.
