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6 Tips to Select a Right Broker

CommonFloor

The services of a professional and experienced agent can be of immense help to you in your property buying endeavours. Purchasing a property through a real estate agent means incurring an additional cost - roughly, a small percentage of the purchase price for the agent's service. Therefore, research thoroughly and interview a few agents before you finalise the one with whom you are confident to deal with. For starters, you must know that an exceptional agent is not only experienced in the real estate arena, but also knows to walk the tightrope and balance optimism - realism and diplomacy - brutal honesty. Needless to say, they should be willing to help you with all the general as well as legal aspects that are associated with property buying. Given below is a step by step guide that will help you find the right real estate agent. 1. Find good prospects To identify qualified and experienced real estate agents, you can ask for referrals from neighbours, friends and family members and local neighbourhood. Alternatively, you can use Internet search tools as well as explore the search options that are available on popular real estate websites. 2. Agents who are familiar with the localities as well the local language It is highly recommended that you hire the services of an agent who is intimately and ardently familiar with the localities that interest you as a property buyer. An ideal real estate agent is one who is fluent in the local language as well as is fluent in common languages such as Hindi and English. 3. Ask tough questions Ask prospective agents the techniques or methods they will use to find suitable properties for you. You can also ask the prospects for a quick yet comprehensive real estate market analysis in the specific locality and the details of the recent purchases facilitated by that agent in that particular area, so that you have clarity on what you can expect from that agent. Also check how frequently you can expect updates from that agent. 4. Check if he is working for any developer/developers Very often, real estate agents work for some developers and hence recommend or show properties from only those. It is best to check in the beginning as you do not want to get stuck with an agent who has a very limited scope in terms of properties. However, most real estate brokers are middlemen who take commission from the buyer as well as the developer. 5. Check reputation and license Once you are comfortable with the experience and knowledge of the prospective agent, the next step is to check his/her reputation and business license. Ask for referrals from previous customers of the agent to check reputation and also ensure that the agent holds a legal license to run the real estate consultation service. 6. Confirm the brokerage or consultation fee Last but not the least, check the brokerage charged by the agent and hire his/her services only if you are comfortable paying that much commission. More often than not, real estate agents try and skip this question so that they can charge exorbitantly after the deal is fixed. However, as an informed and educated buyer, you must have clarity on this aspect before you hire the services of an agent. Once you have the answers to all the above questions, and if you are confident that the hired broker or agent can help you with a speedy and suitable purchase, then you can go ahead and sign the agreement.