Before you go out into the market to make your next big real estate purchase, make sure you are reaching out to the right person to help you make that investment. There are certain important qualities that you should look for while evaluating a real estate agent or agency and listed here are some basic points to evaluate. A competent real estate agent/agency :
i) Is one that understands your requirements before even suggesting a property and is able to present clearly and impartially all available options that meet your needs. It should not tell you that every offer is the best.
ii) Has seasoned experts who have exhaustive knowledge about the local market, general market practices, rules, regulations and legal aspects and who share all this information willingly and succinctly.
iii) Should do all it can to get you the best deal possible – even if it means a lower or deferred commission – by pointing out to you the pros and cons of every option to help you make a better decision.
iv) Should maintain confidentiality, network with other agents/agencies for your requirement and keep your costs down.
v) Gives advice on the risks involved in every offer before you, informs you of the available risk mitigation strategies and helps you with the paperwork.
vi) Is professional, aggressively follows up on a mandate and adheres to all expected processes.
vii) Handholds you throughout life by servicing your needs, year after year.
viii) Should listen to you, behave ethically and not try to rush you into a decision.
The Search Methodology
Follow these steps and checklist while short-listing and selecting your real estate mentor in India :
i) Check the real estate agent/agency’s background, review their track record and if need be, get references from past clients.
ii) Evaluate their knowledge of the real estate market and its offerings as well as their willingness to go the extra mile for you.
iii) Eliminate all prospective advisors who attempt to push you into a deal to make a fast buck or suggest unlawful shortcuts to legal procedures.
iv) When considering a real estate advisor, be clear on what you require of them. If you are not sure, use his expertise and experience to identify and crystallize your objectives – are you looking for an ideally located and appointed home for actual use, or are you more interested in investment potential?
v) Referrals from family, friends and colleagues are great sources for finding the right advisor. In the absence of such referrals, you can launch an initial search through web listings. Interview at least two or three advisors in person and establish the agency’s local expertise and database depth before you take a decision.
vi) Finally, clarify all aspects of the fees and ensure that these are in line with current market benchmarks.
Your choice of a real estate advisor has a direct bearing on the number of options you will have, the quality of information and the final price. By choosing the right advisor, you can save time and effort in finding the perfect home at the right price, at the right time and at the right place or selling your property at the best price possible.
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