Is your broker the best?

12-Sep-2014    |    Source:    www.mid-day.com

A GOOD broker can make a lot of difference to your home-buying experience. Even for investors, a competent broker makes a world of a difference on how they earn from a property over a period of time. In some cases, a broker doubles up as a property manager.


Here’s a look at what you should consider before hiring a broker.


Reputation

There are countless real estate agencies and brokers in the market. Some of them are in the real estate business to earn some side income besides their regular job. So, before you place your trust in a broker, do a recce on his past credentials. You can talk to people who have availed his services. It’s always better to select someone who is referred to you by a friend or a relative.

Specialisation

It’s always prudent to select someone who has a fixed area of operation — luxury homes, resale, weekend homes, plots, industrial warehouses and so on. A knowledgeable broker will help in buying or selling your property at the right price.

Commission

Brokers fees constitute a part of the transaction. Some of them quote a flat fee while others charge on a percentage basis. Always, consider the fact that a broker will get a commission from the developer or seller as well. In case, you’re dealing with an agent, find out the details of the fee from his agency. At times, people end up paying both the agent and his agency. Never pay money upfront to a broker. Lastly, always read the contract carefully. In some cases, you might have to pay the commission even if you have bought/ sold the house solely with your efforts.


After sales service

Property management is a service that’s now sought- after by NRIs and investors. Many brokers act as property managers who act in the physical absence of the actual owner of the property. They collect rent, pay society dues, manage and generate tenants and look after the place when you are away. They charge extra for such services.

Accreditations

It’s better to find out some things about your broker like what’s the size of his agency, whether he’s a full- time agent or a part- time one and what are the bodies he’s affiliated to. If he has reliable accreditations, it means that he’s a genuine professional.

Size of agency

It’s normal for brokers from bigger agencies to charge high fees.However, there is no guarantee of great success. A smaller broker might just give you more personalised service at a lesser fee.Before you take services from a broker, find out how he will advertise your property or get the best price.

Networking

A broker who has excellent networking will be more helpful as he has inside news that he can use for your benefit. Likewise, contacts with lawyers, advocates is added benefit for you.


Projects You may be interested in

Vijay Estate

Vijay Estate

Neral, Mumbai Beyond Thane

Contact Us

Use the form below to contact us!

Share Property

Property Valuation Form