How to find the right real estate broker for yourself
Rahul Grover, President-Sales and Operation; SECCPL
One of the biggest mistake home buyers tend to make is not considering a real estate broker that matches the priority list of home purchases. This can drop you into a trap of spending no more than about 30% extra on the final deal. So while homebuyers fixate on getting the best credentials and opinions possible for making every other decision-related to their home, from finding the right mechanic, plumber and even doctor, we do not, however, pick our brokers with such focus.
With the expertise of selling a minimum of a dozen homes annually, a real estate agent is typically your representative to navigate the entire process from start to finish. With the day to day conversation, they are far aware of the sector than we are. As a result, it is crucial to find the right broker to guide one through this journey.
Below are some tips on how to find the right broker for you:
Honesty vs Flattery:
Especially while selling your house, beware of the broker that tells you only what you want to hear. A broker is hired as a representative to work out a maximum reaping deal. In that case, a clear and transparent conversation from the start will create no unrealistic expectations. It is important to have an adept real estate agent who can support you according to your requirements, not coax you into accepting an unsuitable deal.
A Broker with a clear outlook of the sector:
Interview your real estate agent to understand his skillsets. Only on being certain on his knowledge of the sector and the ability to work on parameters that are in line with the current buying or selling, confirm the broker. The good old days of traditional means of dealing with an agent is over. Trusting a representative with sound knowledge and the quality to work in the best interest of both parties is the way to associate.
They should be capable negotiators:
The most important part of the buying or selling process is when you make an offer, as that opens up the floor for negotiation. For this, your broker must have good communication skills. They should be able to haggle with the other party to push the odds in your favour. While picking your broker, ask them about their usual negotiation strategies. If they have none, it does not bode well for you.
Always Ask for and Sign an Agreement
Safeguarding on both ends is imperative. An agreement is a bulletproof manner to evaluate terms and priorities.
They should have a good track record:
It is imperative that your broker has a good track record; this can be checked on the basis of three factors – Credentials, Experience and References. With this, you can be aware of their qualifications, achievements, duration of work, and reviews from past clients. This will help in gauging if the broker is the right one for your needs.
They should keep you in the loop, always:
Market prices for housing change on almost a weekly basis and so do people’s perceptions. As both buying and selling a house is a long-term process, the broker should inform you of any and every change in the situation that occurs as a result of these factors.