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Negotiating A Real Estate Deal: For First-Timers

Whenever you go to buy something, anything, you’re certainly hoping to get the best price for what you get. When  you go to buy a house, this is even more important. 

 

How good are you negotiation skills? In a real estate setting, these imperative skills really get put to the test. Buyers put out an asking price and sellers will push back - the back and forth tug-of-war is all part of the art of skilled negotiation. In any negotiation setting, every party wants the best deal for themselves, but in order for the deal to close, there has to be some sort of a compromise. The opposing parties involved have to meet somewhere and there’s potentially a whole lot of cash at stake. 

 

In a real estate negotiation, there are typically two agents who represents the parties of buyers and sellers. It’s the most basic form of transaction. The seller’s goal is to sell, and the buyer’s is to buy - but a lot of the time it gets a bit murky in between. There’s often a great deal of push back with neither parties wanting to settle. 

 

The real estate dance unfolds the same typically all across the board: The seller puts up a property for sale and viewings are scheduled for interested buyers. There will be a good and expected ratio between window shoppers and serious buyers, but this is all a part of the real estate game. If there’s serious interest from a buyer, the negotiations will begin once the seller receives a written offer from the buyer’s representation, the agent. Negotiations are usually handled and executed buy the agents for the the buyer and seller as they go back and forth in counter-offers. The counter-offers may be communicated via email, signed documents, and sometimes even through mobile and texting (as we have seen in hugely popular television shows like Million Dollar Listing).

 

The objective is simple on paper. There must be full agreement from both parties on the deal’s terms, inclusive of property price, time lines,contingencies, and any additional items and policies that correlate with the property’s transference of owners. People think that a negotiation only happens once or twice, but in reality, there is a constant flow of negotiation until you actually put pen to paper, sign on the dotted line and (thankfully!) close the deal. Buying a home is not so simple as making an initial offer and immediately paying that offer out. How much simpler life would be if that were the case though? Sometimes these negotiations and counter-offers can go back and forth for weeks to months before the seller and buyer are both happy and satisfied.  

 

Here are things that you will have to keep in mind during the negotiation process:

 

Price

What is the magic number? The whole negotiation basically comes down to the price. Buyers and sellers want to negotiate the best deal, the best price possible for them and this can mean polar opposite things for the two parties. Of course, the seller wants to get the highest price paid to them for the property and the buyer wants to pay the least amount possible to own the property. It’s like a balance scale that consists of a pivoted horizontal lever with arms of equal length, the beam, and a weighing pan suspended from each arm. Objects of a certain weight must be placed on both weighing pans to as close to the equilibrium as possible, otherwise the scale will just topple heavily to one side. In a negotiation deal, the final price needs to end up somewhere in the middle for both buyer and seller to be satisfied.

 

Buyers don’t want to over payor price themselves out of a resale in the future and sellers want to ensure that the deal makes sense for them financially and won’t put a whole in their pockets. 

 

Closing Costs

Closing costs are fees paid at the closing of a real estate transaction that are associated with your home purchase and home loan,and can be incurred by either the buyer or the seller. Many of the fees that make up closing costs are negotiable. Closing costs can vary widely based on your property market, such as where you live, the property you buy and the type of loan you choose. Some of the fees that may be included in closing costs are:Application fee, appraisal, attorney fee, escrow fee, courier fee, credit report, home inspection, homeowner’s insurance, property tax, transfer taxes…just to name a handful.

 

Homeowners can negotiate with the seller on who pays these closing fees. It’s really case by case, and sometimes the seller will agree to assume the buyer’s closing fees. 

 

Closing Point/ Closing Date

Closing point/closing date is when the title of the property is transferred from the seller to the buyer. The closing date is set during the negotiation phase and is usually several weeks after the offer is formally accepted. The closing date is one of the many factors that is negotiable during the offer and acceptance of a purchase contract. When making an offer, the buyer will include a closing date and depending on the seller’s circumstances,it may be acceptable or they may counter with terms that work better with their schedule.

 

Sellers may counter your proposed closing date in cases when they may need to move out quickly, they may want to put the date earlier. 

 

There are occasions when (if) the closing date just won’t work for one party, it can mean the collapse of the deal altogether.

Financing Contingency

Financing contingency is a clause in a home purchase and sale agreement that expresses that your offer is contingent on being able to secure financing for the home. Typically, a buyer uses this clause to establish a set period of time to apply for a mortgage and/or close on the loan.

 

Dropping the financing contingency will shorten the closing time line and give buyers a leg up when competing with all cash offers.Buyers can do this by having their mortgage fully approved prior to making an offer to the seller, which shows that their finances are in order and they can afford the property. 

 

Home Warranty and Home Repairs

 

A home warranty is something that a buyer can request or a seller can offer in the negotiation. It is a one-year service agreement that covers the repair and replacement of most major home system components and appliances that typically breakdown over time due to normal wear and tear. The protection plan can cover things like air-conditioning, hot water heater, and heaters in the event that these things need repair. 

 

Buyers can also negotiate for home repairs if a home needs a lot of updating. If a home has a lot of wear and tear, with appliances that are broken, cracked ceilings and wall foundations peeling off - a buyer can actually ask for a lower price because the cost to bring the home up-to-date will be costly. However, sellers can also specify that their house is being sold “asis”, which means that they will not make any sort of repairs.

 

Leaseback

 

Leaseback agreement is the leasing of a property that is recently purchased, back to the seller. This can be enticing the the seller and help close the deal faster in certain situations. The seller can continue to use the asset but no longer owns it. 

 

A seller may ask to rent the property for a time after the settlement for whatever personal reasons.

 

Appraisal Contingency

 

Waiving appraisal contingencies can strengthen a buyer’s offer. In today’s competitive real estate market, buyers are doing whatever they can to give themselves a competitive edge to win the deal and one of those strategies involve waiving the appraisal contingency. Sellers know that an appraisal means the possibility that the valuation will be lower than the contracted price, which is why sellers are leaning towards buyers who have removed this contingency.

 

Essentially, when a buyer removes the appraisal contingency in a competitive market, they are promising the seller that the buyer will close the deal whether the appraisal comes in at value or not. This can be very attractive to sellers.

 

Furniture and Appliances

 

Sometimes, a buyer will want to buy all of the furniture in the home as an all-inclusive. This means that the seller can just walk away with a good financial compromise for what’s included when the contract is finalized

 

Appliances like the stove, dishwasher, microwave, and any other built-in appliances may come with the property but depending on theproperty market, people will negotiate which appliances stay and which ones will go.

 

 

Remember, each seller will review the buyer’s offer and react with counters according to their motivation. Knowledge is power in negotiations, so try to find out as much as you can about the other party.Having your agent find out as much as they can about the seller’s selling motivation and needs before writing an offers can make yours shine in a sea of generic offers. It’s so important to have an experience real estate agent who can strengthen your negotiation. Sellers and buyers can both put themselves in advantageous positions through intelligent planning and smart counteroffers.Communicate often with your real estate agent to let him or her know exactly what you want from the negotiation process. 

 

A good real estate agent, with knowledge of the property market and negotiation experiences can make the biggest difference in whether a home purchases is successful or falls apart. Buying a home will probably bd the single largest purchase you will ever make, and you need to find a trusted party negotiating on your behalf.

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Salutation
  • Mr.
  • Mrs.

This data protection information applies to the use of the website https://www.engelvoelkers.com/hongkong/ (hereinafter referred to as “website”) and the Property Search App, a mobile application for property searches (hereinafter referred to as “property app”) and is valid from 25 May 2018.

The following information applies to both the website and the property app, unless expressly stated otherwise.

 

Engel & Völkers VJI Limited in its function of responsible authority (hereinafter also referred to as “Engel & Völkers”) informs its users that

by using the website, personal data about them will be processed, in particular:

●    personal data (e.g. e-mail address, first name, surname, title, address, telephone number – in the following “Data” or “Personal data”) provided by users at the time of registration on the website (e.g. in connection with contact requests and mailing of newsletters);

●    personal data transferred from the user’s internet browser each time the user accesses the website is stored within log files, also known as server logs. This data comprises: IP address (Internet protocol address) of the accessing computer; name of the accessed site; date and time of access; related URL from which the user accesses the site; number of transferred data items; status report of successful access; session ID number.

by using the property app, personal data about them will be processed, in particular:

●    e-mail address, first name, surname, title, address, telephone number provided by users at the time of sending an enquiry;

●    Whenever the app is accessed, the usage data of the respective app user is saved. This data comprises: operating system used and, if applicable, the browser type, current language setting of the smartphone, information about the Internet service provider of the user, name of the retrieved page and, if applicable, the origin page, date and time of retrieval, amount of data transmitted, status report on whether the retrieval was successful, session identification number.

Purpose of processing

Engel & Völkers, as a responsible authority,

processes the personal data of website users for the following purposes:

●    Fulfilment of user’s requests (legal basis is contract performance and the legitimate interest of Engel & Völkers in transferring contact requests within the Engel & Völkers Group to the appropriate company. The above “Engel & Völkers Group” comprises Engel & Völkers AG and its domestic and foreign associated companies in terms of the German Companies Act Sec. 15 ff, and the (master) licensees affiliated with this group of companies. A current listing of these licensees can be obtained here: https://www.engelvoelkers.com/de/unternehmen/standorte/);

●    The forwarding of e-mail newsletters on the company’s own offers and advertising by the company or third parties to the legally permissible extent or based on consent. (Legal basis is the legitimate interest of Engel & Völkers in direct marketing, providing this is in accordance with the data protection and competition rules);

●    Analysis of the website for determining user behaviour. (Legal basis is the legitimate interest of Engel & Völkers in analysing user behaviour on our website for the purpose of continuously improving this or adapting it to the interests of our users);

●    Identification and possible blocking of users who have installed a so-called adblocker and who thereby block advertising. (Legal basis is the legitimate interest of Engel & Völkers of providing users who do not block advertising with wholly or partially web-financed offers);

●    In order to prevent fraudulent activities or misuse on the website or in connection with the website and to observe the legal stipulations for safe websites. (Legal basis is the legitimate interest of Engel & Völkers in remedying errors, guaranteeing system security and identifying impermissible access or access attempts.)

The legal basis for the processing of personal data is GDPR Article 6(1)(a), if the processing is based on consent, Article 6(1)(b) if the basis for processing is a contractual relationship and Article 6(1)(f) if the basis is the legitimate interests of Engel & Völkers.

processes the personal data of property app users for the following purposes:

●      Fulfilment of the requests of the app users (legal basis of the data collection is the consent of the user in accordance with Art. 6(1)(a) EU General Data Protection Regulation (GDPR)). Analysis of the property app to determine usage behaviour (legal basis is the legitimate interest of Engel & Völkers in analysing user behaviour in our property app for the purpose of continuously improving this or adapting it to the interests of our users);

Nature of supply of personal data and consequences of objection

The personal data is voluntarily provided by users. They may freely decide whether to make personal data available to Engel & Völkers and may subsequently withdraw their consent from the processing of personal data which have already been made available. Withdrawal may mean that the Engel & Völkers website is no longer usable.

Processing methods

Users’ personal data may only be processed in case of need and processing will be performed electronically only, in particular by way of: gathering, registration, organisation, storage, consultancy, processing, amendment, selection, extraction, comparison, use, interconnection, access and communication, blocking, deletion and destruction of the data. Processing may be carried out electronically or non-electronically.

Access to data

The personal data is processed by Engel & Völkers and (in respect of individual items) particularly by

●    Employees (permanent employees such as job-holders and independent property consultants) and consultants authorised to administer the website and property app and provide the associated services;

●    Third-party supplier companies (e.g. IT service providers, hosting providers, etc.) to which Engel & Völkers has outsourced processing services as part of a job processing agreement.

Information about the data

As the responsible authority we are able to provide information about your personal data. However, this information may only be given for the following reasons:

·       In the case of fulfilment of legal obligations or obligations arising from regulations and guidelines under national or European laws.

·       For defence in court in the case of a legal dispute.

Disclosure of data

If your query relates to offers from other companies of the Engel & Völkers Group, Engel & Völkers transfers the personal data entered by you in this case to the respective company from the Engel & Völkers Group with your prior consent or on the basis of its legitimate interests.[A10]  Other than this, your personal data will not be disclosed by Engel & Völkers.

Disclosure of data in non-EEA countries

In principle, Engel & Völkers does not transfer personal data to non-EEA countries without your consent. The servers used by Engel & Völkers are located within the European Union.

If your query relates to companies of the Engel & Völkers Group outside the European Union, we communicate your data under your consent.

In cases where personal data is transferred to countries that do not offer the same level of protection as within the European Union and you have not expressly agreed to the transfer of your data to those countries by way of your consent, Engel & Völkers will ensure that certain contractual obligations under applicable data protection law (including the execution of standard contractual clauses approved by the European Commission) are agreed with each service provider, unless Engel & Völkers can invoke other legal grounds for the transfer of personal data.

Saving and deleting of data

Engel & Völkers saves personal data for the time necessary for achieving the purposes for which the data was gathered and processed, including any storage period stipulated under the applicable legislation (e.g. retention of bookkeeping vouchers) and in any case for a maximum of 24 months [A11] after the personal data was gathered.

Use of cookies

Use of cookies on the website

In order to improve website browsing, Engel & Völkers uses “cookies”. Cookies are small text files, generally consisting of letters and numbers, stored on the user’s web browser on their PC and containing pseudonymised data. Cookies allow a website to recognise the user’s computer in order to follow searches made on several pages of a website and to identify users who return to a website. Cookies may have technical, analytical or profiling purposes.

The direct and indirect cookies used by Engel & Völkers are summarised here: https://www.engelvoelkers.com/en-de/privacy-policy-ag/doc/ev_cookies_lp.pdf.

The website uses the following technical cookies:

For storing language selection _icl_visitor_lang_js, _icl_current_language, evlocale.For storing selection of measuring units engelundvoelkersconfig.For storing last search requests LAST_SEARCH.For storing the watchlist ID watchlist_id.For storing test reference within AB tests user_ab.For storing references to distributed systems in load balancers BIGipServergroup-rz-webfe-prod.

Engel & Völkers informs users that they may deactivate or remove cookies in their web browser by following the instructions on the following links:

●      Internet Explorer ((https://support.microsoft.com/en-gb/help/17442/windows-internet-explorer-delete-manage-cookies).

●      Mozilla Firefox (https://support.mozilla.org/en-US/kb/delete-cookies-remove-info-websites-stored).

●      Safari (https://support.apple.com/kb/PH19214?viewlocale=en_US&locale=de_DE).

The website also uses analytical cookies set by third-party providers, e.g. Google (see also provisions on use of analysis programs and tracking tools) and Adroll (https://www.adroll.com/de-DE/about) /Privatsphäre) and Haufe (https://de.onlinehelp.umantis.com/index.php/Cookies).

In more detail:

a)       Google Analytics

Engel & Völkers uses the web analytics service Google Analytics from Google Inc. (“Google”) for analysing the use of websites. The information generated by cookies about the use of websites is generally transferred to a Google server in the USA and stored there. Engel & Völkers uses Google Analytics solely with the extension "ga ('set', 'anonymizeIp', true)", in order to ensure that IP addresses are only processed in a shortened version and in order to prevent direct references to individual persons. Google may transfer data to third parties if this is prescribed by law or if third parties process these data on behalf of Google. Google will not publish the IP address of the user in connection with other Google data. Users may at any time prevent the recording and storage of data by Google Analytics, by installing a Google-approved browser plug-in which can be downloaded from the following link: https://tools.google.com/dlpage/gaoptout?hl=de.

b)       Universal Analytics

Engel & Völkers uses the Universal Analytics functions provided by Google. These functions allow Engel & Völkers to record and analyse socio-demographic data about users by means of a Google ID (if available) and by means of cookies generated by Google from advertising contents (DoubleClick). If a Google ID is available, the data controller will be able to record this data across all devices (e.g. if users have both a smartphone and a PC) for analysing visitor flows across all devices. Users may at any time prevent the recording and storage of data by Google Analytics by installing a Google-approved browser plug-in which can be downloaded from the following link: https://tools.google.com/dlpage/gaoptout?hl=de.

This website does not use profiling cookies.

Use of cookies and other tracking in the Property App

Engel & Völkers needs statistical information on the use of the Property App to make it more user-friendly. For this purpose, Engel & Völkers deploys the following analysis tools. The providers of the tools process data, where personal data are processed, as a processor in accordance with the instructions of Engel & Völkers.

To find out which other cookies the Property App uses click here: https://www.engelvoelkers.com/en-de/privacy-policy-ag/doc/ev_cookies_lp.pdf.

Google Analytics

Google Analytics is provided by Google Inc., 1600 Amphitheater Parkway, Mountain View, CA 94043, USA (“Google”). We use Google Analytics with the additional feature offered by Google to anonymise IP addresses: In this case, Google's IP address is usually already shortened within the EU and only in exceptional cases in the US and in any case only saved in abbreviated form. The privacy policy can be viewed here: https://privacy.google.com/businesses/processorterms/

                               

If you want to opt out of Google Analytics tracking, go to your system settings and disable Google Analytics access in the Tracking section of the “Engel & Völkers Property Search” app.

If you want to opt out of tracking Google Analytics on Android, go to the app settings and disable Google Analytics access.

HockeyApp

HockeyApp is provided by Microsoft (Microsoft Corporation, One Microsoft Way, Redmond, WA 98052-6399, USA). We use HockeyApp for error analyses and to improve the property app. If it crashes, the user may agree to submit a crash report to HockeyApp. A crash report includes information about the crash date and time, the affected software module, the operating system and language used, and the device type and IP address. The crash report will only be sent to HockeyApp once this has been specifically approved. The information contained in the crash report may be partially processed in the United States. HockeyApp is a service from Microsoft. Legal information about it can be found here: 

https://azure.microsoft.com/de-de/support/legal/.

The privacy policy can be viewed here: 

https://www.microsoft.com/de-de/privacystatement/OnlineServices/Default.aspx

Crashlytics

Crashlytics is an analysis tool offered and operated by Crashlytics Inc., based in Cambridge, MA, USA. Crashlytics generates crash reports, i.e. reports about malfunctions or failures of the app, where and in which context these have occurred, how many users of the app are affected, etc. Engel & Völkers uses these reports to detect malfunctions or failures to be able to react faster, more purposefully and more efficiently in the interests of the users and to be able to improve the app technically. For this purpose, Crashlytics, together with the user’s Symphony-related app ID, which can be deleted at any time, records data on the crash and on general data of the respective IT environment (in particular on the used device, the mobile service provider and the operating system). If personal or pseudonymous data is included, Crashlytics will delete it within seven days. This information will give Crashlytics and subsequently Engel & Völkers insight into whether and how the app works and is used, especially the malfunctions and failures that occur. Further information is available at try.crashlytics.com/terms/privacy-policy.pdf.

Links to social media pages

This website contains links to the main social media network sites (e.g. Facebook and Twitter). These are not embedded social media plug-ins, but a link through which no personal data is transmitted to the social media operators.

Rights of persons concerned

You have the right to information on the processing of your personal data (for example, the origin of this data, the processing purpose, the modalities of the data processing). Furthermore, on certain conditions, you are entitled, at any time, to object to data processing in the future, to limit it or to demand the deletion of the data. Finally, you can prevent the sending of advertising material or the implementation of market research or commercial communications at any time.

In summary, you have a right to

-       information,

-       correction,

-       deletion (or to be forgotten),

-       limitation of processing,

-       data portability,

-       objection to the processing of your personal data,

-       complaint to the supervisory authorities.

Please note that your right to deletion is subject to certain restrictions. For instance we need not or may not delete any data which we need to retain for a further period under a statutory retention period. Data needed by us for the establishment, exercise or defence of legal claims are also excepted from your right to deletion.

To exercise the above rights and to request information, users may write to the following e-mail address hongkongmmc@engelvoelkers.com[A12]  or postal address Engel & Völkers VJI Limited, [A13] Shop A, 95 Caine Road, Mid Level West, Hong Kong. Similarly, users may at any time withdraw consent to, correct and delete the processing of their data.

Contacts

The responsible authority for processing of data is Engel & Völkers VJI Limited, [A14] Shop A, 95 Caine Road, Mid Level West, Hong Kong. In the event of questions regarding our data processors, we are happy to make a current list of these available to you.

If you have a complaint regarding the way that we process your data, you have the opportunity to submit a complaint to the supervisory authority. This is: 

Free and Hanseatic City of Hamburg

Hamburg’s representative for data protection and freedom of information

Prof. Dr. Johannes Caspar

Kurt-Schumacher-Allee 4, 20097 Hamburg

Mailbox@datenschutz.hamburg.de[A15] 

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  • Mr.
  • Mrs.
Please enter the property information.

This data protection information applies to the use of the website https://www.engelvoelkers.com/hongkong/ (hereinafter referred to as “website”) and the Property Search App, a mobile application for property searches (hereinafter referred to as “property app”) and is valid from 25 May 2018.

The following information applies to both the website and the property app, unless expressly stated otherwise.

 

Engel & Völkers VJI Limited in its function of responsible authority (hereinafter also referred to as “Engel & Völkers”) informs its users that

by using the website, personal data about them will be processed, in particular:

●    personal data (e.g. e-mail address, first name, surname, title, address, telephone number – in the following “Data” or “Personal data”) provided by users at the time of registration on the website (e.g. in connection with contact requests and mailing of newsletters);

●    personal data transferred from the user’s internet browser each time the user accesses the website is stored within log files, also known as server logs. This data comprises: IP address (Internet protocol address) of the accessing computer; name of the accessed site; date and time of access; related URL from which the user accesses the site; number of transferred data items; status report of successful access; session ID number.

by using the property app, personal data about them will be processed, in particular:

●    e-mail address, first name, surname, title, address, telephone number provided by users at the time of sending an enquiry;

●    Whenever the app is accessed, the usage data of the respective app user is saved. This data comprises: operating system used and, if applicable, the browser type, current language setting of the smartphone, information about the Internet service provider of the user, name of the retrieved page and, if applicable, the origin page, date and time of retrieval, amount of data transmitted, status report on whether the retrieval was successful, session identification number.

Purpose of processing

Engel & Völkers, as a responsible authority,

processes the personal data of website users for the following purposes:

●    Fulfilment of user’s requests (legal basis is contract performance and the legitimate interest of Engel & Völkers in transferring contact requests within the Engel & Völkers Group to the appropriate company. The above “Engel & Völkers Group” comprises Engel & Völkers AG and its domestic and foreign associated companies in terms of the German Companies Act Sec. 15 ff, and the (master) licensees affiliated with this group of companies. A current listing of these licensees can be obtained here: https://www.engelvoelkers.com/de/unternehmen/standorte/);

●    The forwarding of e-mail newsletters on the company’s own offers and advertising by the company or third parties to the legally permissible extent or based on consent. (Legal basis is the legitimate interest of Engel & Völkers in direct marketing, providing this is in accordance with the data protection and competition rules);

●    Analysis of the website for determining user behaviour. (Legal basis is the legitimate interest of Engel & Völkers in analysing user behaviour on our website for the purpose of continuously improving this or adapting it to the interests of our users);

●    Identification and possible blocking of users who have installed a so-called adblocker and who thereby block advertising. (Legal basis is the legitimate interest of Engel & Völkers of providing users who do not block advertising with wholly or partially web-financed offers);

●    In order to prevent fraudulent activities or misuse on the website or in connection with the website and to observe the legal stipulations for safe websites. (Legal basis is the legitimate interest of Engel & Völkers in remedying errors, guaranteeing system security and identifying impermissible access or access attempts.)

The legal basis for the processing of personal data is GDPR Article 6(1)(a), if the processing is based on consent, Article 6(1)(b) if the basis for processing is a contractual relationship and Article 6(1)(f) if the basis is the legitimate interests of Engel & Völkers.

processes the personal data of property app users for the following purposes:

●      Fulfilment of the requests of the app users (legal basis of the data collection is the consent of the user in accordance with Art. 6(1)(a) EU General Data Protection Regulation (GDPR)). Analysis of the property app to determine usage behaviour (legal basis is the legitimate interest of Engel & Völkers in analysing user behaviour in our property app for the purpose of continuously improving this or adapting it to the interests of our users);

Nature of supply of personal data and consequences of objection

The personal data is voluntarily provided by users. They may freely decide whether to make personal data available to Engel & Völkers and may subsequently withdraw their consent from the processing of personal data which have already been made available. Withdrawal may mean that the Engel & Völkers website is no longer usable.

Processing methods

Users’ personal data may only be processed in case of need and processing will be performed electronically only, in particular by way of: gathering, registration, organisation, storage, consultancy, processing, amendment, selection, extraction, comparison, use, interconnection, access and communication, blocking, deletion and destruction of the data. Processing may be carried out electronically or non-electronically.

Access to data

The personal data is processed by Engel & Völkers and (in respect of individual items) particularly by

●    Employees (permanent employees such as job-holders and independent property consultants) and consultants authorised to administer the website and property app and provide the associated services;

●    Third-party supplier companies (e.g. IT service providers, hosting providers, etc.) to which Engel & Völkers has outsourced processing services as part of a job processing agreement.

Information about the data

As the responsible authority we are able to provide information about your personal data. However, this information may only be given for the following reasons:

·       In the case of fulfilment of legal obligations or obligations arising from regulations and guidelines under national or European laws.

·       For defence in court in the case of a legal dispute.

Disclosure of data

If your query relates to offers from other companies of the Engel & Völkers Group, Engel & Völkers transfers the personal data entered by you in this case to the respective company from the Engel & Völkers Group with your prior consent or on the basis of its legitimate interests.[A10]  Other than this, your personal data will not be disclosed by Engel & Völkers.

Disclosure of data in non-EEA countries

In principle, Engel & Völkers does not transfer personal data to non-EEA countries without your consent. The servers used by Engel & Völkers are located within the European Union.

If your query relates to companies of the Engel & Völkers Group outside the European Union, we communicate your data under your consent.

In cases where personal data is transferred to countries that do not offer the same level of protection as within the European Union and you have not expressly agreed to the transfer of your data to those countries by way of your consent, Engel & Völkers will ensure that certain contractual obligations under applicable data protection law (including the execution of standard contractual clauses approved by the European Commission) are agreed with each service provider, unless Engel & Völkers can invoke other legal grounds for the transfer of personal data.

Saving and deleting of data

Engel & Völkers saves personal data for the time necessary for achieving the purposes for which the data was gathered and processed, including any storage period stipulated under the applicable legislation (e.g. retention of bookkeeping vouchers) and in any case for a maximum of 24 months [A11] after the personal data was gathered.

Use of cookies

Use of cookies on the website

In order to improve website browsing, Engel & Völkers uses “cookies”. Cookies are small text files, generally consisting of letters and numbers, stored on the user’s web browser on their PC and containing pseudonymised data. Cookies allow a website to recognise the user’s computer in order to follow searches made on several pages of a website and to identify users who return to a website. Cookies may have technical, analytical or profiling purposes.

The direct and indirect cookies used by Engel & Völkers are summarised here: https://www.engelvoelkers.com/en-de/privacy-policy-ag/doc/ev_cookies_lp.pdf.

The website uses the following technical cookies:

For storing language selection _icl_visitor_lang_js, _icl_current_language, evlocale.For storing selection of measuring units engelundvoelkersconfig.For storing last search requests LAST_SEARCH.For storing the watchlist ID watchlist_id.For storing test reference within AB tests user_ab.For storing references to distributed systems in load balancers BIGipServergroup-rz-webfe-prod.

Engel & Völkers informs users that they may deactivate or remove cookies in their web browser by following the instructions on the following links:

●      Internet Explorer ((https://support.microsoft.com/en-gb/help/17442/windows-internet-explorer-delete-manage-cookies).

●      Mozilla Firefox (https://support.mozilla.org/en-US/kb/delete-cookies-remove-info-websites-stored).

●      Safari (https://support.apple.com/kb/PH19214?viewlocale=en_US&locale=de_DE).

The website also uses analytical cookies set by third-party providers, e.g. Google (see also provisions on use of analysis programs and tracking tools) and Adroll (https://www.adroll.com/de-DE/about) /Privatsphäre) and Haufe (https://de.onlinehelp.umantis.com/index.php/Cookies).

In more detail:

a)       Google Analytics

Engel & Völkers uses the web analytics service Google Analytics from Google Inc. (“Google”) for analysing the use of websites. The information generated by cookies about the use of websites is generally transferred to a Google server in the USA and stored there. Engel & Völkers uses Google Analytics solely with the extension "ga ('set', 'anonymizeIp', true)", in order to ensure that IP addresses are only processed in a shortened version and in order to prevent direct references to individual persons. Google may transfer data to third parties if this is prescribed by law or if third parties process these data on behalf of Google. Google will not publish the IP address of the user in connection with other Google data. Users may at any time prevent the recording and storage of data by Google Analytics, by installing a Google-approved browser plug-in which can be downloaded from the following link: https://tools.google.com/dlpage/gaoptout?hl=de.

b)       Universal Analytics

Engel & Völkers uses the Universal Analytics functions provided by Google. These functions allow Engel & Völkers to record and analyse socio-demographic data about users by means of a Google ID (if available) and by means of cookies generated by Google from advertising contents (DoubleClick). If a Google ID is available, the data controller will be able to record this data across all devices (e.g. if users have both a smartphone and a PC) for analysing visitor flows across all devices. Users may at any time prevent the recording and storage of data by Google Analytics by installing a Google-approved browser plug-in which can be downloaded from the following link: https://tools.google.com/dlpage/gaoptout?hl=de.

This website does not use profiling cookies.

Use of cookies and other tracking in the Property App

Engel & Völkers needs statistical information on the use of the Property App to make it more user-friendly. For this purpose, Engel & Völkers deploys the following analysis tools. The providers of the tools process data, where personal data are processed, as a processor in accordance with the instructions of Engel & Völkers.

To find out which other cookies the Property App uses click here: https://www.engelvoelkers.com/en-de/privacy-policy-ag/doc/ev_cookies_lp.pdf.

Google Analytics

Google Analytics is provided by Google Inc., 1600 Amphitheater Parkway, Mountain View, CA 94043, USA (“Google”). We use Google Analytics with the additional feature offered by Google to anonymise IP addresses: In this case, Google's IP address is usually already shortened within the EU and only in exceptional cases in the US and in any case only saved in abbreviated form. The privacy policy can be viewed here: https://privacy.google.com/businesses/processorterms/

                               

If you want to opt out of Google Analytics tracking, go to your system settings and disable Google Analytics access in the Tracking section of the “Engel & Völkers Property Search” app.

If you want to opt out of tracking Google Analytics on Android, go to the app settings and disable Google Analytics access.

HockeyApp

HockeyApp is provided by Microsoft (Microsoft Corporation, One Microsoft Way, Redmond, WA 98052-6399, USA). We use HockeyApp for error analyses and to improve the property app. If it crashes, the user may agree to submit a crash report to HockeyApp. A crash report includes information about the crash date and time, the affected software module, the operating system and language used, and the device type and IP address. The crash report will only be sent to HockeyApp once this has been specifically approved. The information contained in the crash report may be partially processed in the United States. HockeyApp is a service from Microsoft. Legal information about it can be found here: 

https://azure.microsoft.com/de-de/support/legal/.

The privacy policy can be viewed here: 

https://www.microsoft.com/de-de/privacystatement/OnlineServices/Default.aspx

Crashlytics

Crashlytics is an analysis tool offered and operated by Crashlytics Inc., based in Cambridge, MA, USA. Crashlytics generates crash reports, i.e. reports about malfunctions or failures of the app, where and in which context these have occurred, how many users of the app are affected, etc. Engel & Völkers uses these reports to detect malfunctions or failures to be able to react faster, more purposefully and more efficiently in the interests of the users and to be able to improve the app technically. For this purpose, Crashlytics, together with the user’s Symphony-related app ID, which can be deleted at any time, records data on the crash and on general data of the respective IT environment (in particular on the used device, the mobile service provider and the operating system). If personal or pseudonymous data is included, Crashlytics will delete it within seven days. This information will give Crashlytics and subsequently Engel & Völkers insight into whether and how the app works and is used, especially the malfunctions and failures that occur. Further information is available at try.crashlytics.com/terms/privacy-policy.pdf.

Links to social media pages

This website contains links to the main social media network sites (e.g. Facebook and Twitter). These are not embedded social media plug-ins, but a link through which no personal data is transmitted to the social media operators.

Rights of persons concerned

You have the right to information on the processing of your personal data (for example, the origin of this data, the processing purpose, the modalities of the data processing). Furthermore, on certain conditions, you are entitled, at any time, to object to data processing in the future, to limit it or to demand the deletion of the data. Finally, you can prevent the sending of advertising material or the implementation of market research or commercial communications at any time.

In summary, you have a right to

-       information,

-       correction,

-       deletion (or to be forgotten),

-       limitation of processing,

-       data portability,

-       objection to the processing of your personal data,

-       complaint to the supervisory authorities.

Please note that your right to deletion is subject to certain restrictions. For instance we need not or may not delete any data which we need to retain for a further period under a statutory retention period. Data needed by us for the establishment, exercise or defence of legal claims are also excepted from your right to deletion.

To exercise the above rights and to request information, users may write to the following e-mail address hongkongmmc@engelvoelkers.com[A12]  or postal address Engel & Völkers VJI Limited, [A13] Shop A, 95 Caine Road, Mid Level West, Hong Kong. Similarly, users may at any time withdraw consent to, correct and delete the processing of their data.

Contacts

The responsible authority for processing of data is Engel & Völkers VJI Limited, [A14] Shop A, 95 Caine Road, Mid Level West, Hong Kong. In the event of questions regarding our data processors, we are happy to make a current list of these available to you.

If you have a complaint regarding the way that we process your data, you have the opportunity to submit a complaint to the supervisory authority. This is: 

Free and Hanseatic City of Hamburg

Hamburg’s representative for data protection and freedom of information

Prof. Dr. Johannes Caspar

Kurt-Schumacher-Allee 4, 20097 Hamburg

Mailbox@datenschutz.hamburg.de[A15] 

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