Jul 30, 2013

Choose your agent/broker wisely

Agents become extremely important in the growth of real estate market as they are bridge the gap between the buyers and sellers and carry out the transactions real smooth. In midst of a cut throat competition among agents, it becomes extremely puzzling for individuals in dealing with their properties. Right from selection if an agent, to working with him becomes a task. Here are 7 tips in dealing with them.
1. Choosing an agent: An agent must be chosen after conducting a brief online research. Log-on to an online Property website and check for the type of properties listed by the agent. Check for depth and width of property handled. Check the amount of details given with each property; this will give you a good idea regarding the knowledge of the agent.
2. Agent’s track record: Individual going to avail the services of an agent must also analyze his track record and a sound background check must be done on the dealings he has made. He must be a trustworthy person. This can be done by asking for 5-6 references i.e., names of people who have dealt with that agent in the recent past. Please speak with these people. 
3. Area of specialization: Most agents have their area of specialization. Some specialize in residential where as some in commercial property. Some deal in new projects whiles other in secondary market sale. Some in sale of property while other specializes in rentals. Choose the agent whose specialization suits your property requirement.
4. Budget of the project: Some agents take into consideration the budget of the deal. Such agents are either volume agents (who prefer dealing in low value, but high volume of transactions) while some are value agents who are only interested in big deals. Choose one accordingly.
5. Location: Agents work on specific locations. They will have all the knowledge about property in the areas they deal with.
6. Be open: A discussion specifying requirements and preferences has to be done while zeroing down on any one agent. All terms and conditions, and commission related issues must be discussed before hiring one. Not doing these discussion can lead to confusion at a later stage.
         7. Payment: Payment must be done once the deal is finalized
 -Makaan

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