How to identify a good real estate agent?
It is a common practise to seek advice from friends, family and relatives while buying property. They all in turn come back with one common advice - the right property according to them is the one that is situated at the most appropriate location. However, each one of them has his own set of brokers and real estate agents. But who should you trust is the biggest problem? You either depend on the advice of your brother, who may have bought three to four properties or your friend, who may be dealing with a number of agents? So are there signs to identify a good real estate agent? The answer is yes. Here’s some advice to identify one such agent.
Who is an agent?
In principle anybody can become a real estate agent. All he needs to do is build his own network of people who are willing to sell his property or rent property. He earns his commission while he brings the buyer and the seller together. The commissions are lower in case of renting. There are separate set of agents who deal into commercial properties. There commission may be highest in the industry.
However, a good agent always protects the interests of his clients- the seller or the owner. But other than this there are some other things that require a mention here.
He does his homework
A good agent is the one who does his homework before dealing with his clients and customers. A well-researched agent would know the exact price and rates offered by developers in his region. If required he should be able to present a comparison between two or several projects at a point.
Some others who are seriously involved with their research constantly keep an update on company’s profit and loss. A study on these factors helps understand if the company has enough capacity to finish the project on time. Moreover, an agent who knows the company well may also know about its promoters and their past record of delivering projects.
A part of their homework also involves knowledge on the site plan and the layout of the building. Often you would come across agents and dealers who would tell you the rate of appreciation in the region depending on internal and external factors. They would also predict the appreciation in future based on these readings. If one believes, these readings hold true if the research is properly done. You can cross check keeping one project in mind and taking a stock of rate movements in that particular project.
If you are satisfied with the studies done by that agent you can pick him for the services.
He serves you well
Once you have given your word and the booking amount, you can go ahead with other payments for the property. However, at various stages of the sale you would require professional help. A good agent is the one who is staying with you till the end. Paper work such as documentation, submission of cheques, depositing the stamp duty, registration of your property or any other legal help would need professional help. A good agent should be able to provide help in all such matters.
He keeps you well-informed
Often it is seen that once the sale is done good agents keep in touch with the buyer (read new owner) for various reasons such as another sale, another investment from the buyer or simply to build his network. A satisfied client would bring other clients to him.
It has been observed that agents also keep a track of prices of the rent property in India. So you can always call him to know the current value of your newly bought property. He should be able to help you with rates and new buyers if you show your interest in selling. Not only this, if you want to rent out your property he would find you a good tenant.
While you take his services through various means and for various purposes, always remember a good agent would always be accessible to you. Try calling him even after you have bought your property!