Amit wanted to sell his apartment in Mumbai and approached a real estate agent. His dealer took more than six months and was still unable to sell the property. All he did was create confusion with the buyer regarding the possession and the dates of moving in. In the end, he took all the profits from the sale as his fees and commission.
Real estate investment involves a huge amount of money and if one is trapped with a double-dealing agent, the chances of losses and misfortune are amplified considerably. Though all agents are not bad and deceitful, there might be some unscrupulous elements who can put the deal at risk. Finding a good agent and following his/her guidance can be the best move to get rid of any kind of risks involved. The question is how to get the best out of your property agent
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Realty is one of the booming sectors and plays an important part in shaping the economy. Property dealers play a vital role as the middlemen and help in cracking the most lucrative and money-spinning deal for the seller. There are certain aspects of the realtors that should be known.
The experience of the real estate agent is key to cracking the deal. The more an agent is experienced in the field of selling property, the more will be his level of efficiency and professionalism.
The agent should possess complete knowledge of the location and the demographic features in the vicinity. Learning more about the area of specialisation of the agent can help in building trust.
The relationship of a real estate agent and the seller is based on mutual trust and respect. However, remaining in the position of power is an intelligent approach for dealing with an agent.
The seller should always keep an authoritative attitude. Saying I Need to Sell My Property will make one seem needy to the agent, who may, in turn, exploit the seller.
When dealing with property dealers, it is essential to sign a sellers broker agreement. It is also essential to disclose all your expectations to the agent.
Agents often create a trap by asking people to sign some documents. It is crucial to avoid signing papers that one has no knowledge about.
Selling a property involves making huge profits by cracking a deal at a much higher price. The real estate agents make their livelihood from commission against profits. In order to make a good margin, you ought to appreciate the property rates and negotiate the brokers commission.
Offer to reduce the workload of the agent in lieu of reduced commission. To gain an upper hand in the negotiations, consider selling the property in off season.
One should also try working with various dealers. Hiring the same agent for further selling and buying might provide an unfair advantage on negotiations. Offering multiple listing to the same agent might reduce the commission by a certain percentage.
While finalising from options, choosing the agent with a wide market reach helps in vending the property at competitive prices. Agents with wide network can help in getting more information about prospective buyers, finding the perfect match for your demands.
Selling a property involves a lot of paperwork, including the agreement of sale, development agreement, certificate of title, transfer deed, power of attorney, release deed and many others. If one isnt familiar with the documentation process, hiring a real estate agent might do the trick and help in striking a good deal.
As realty deals involve huge sums, it is vital to be vigilant at every step. Agents might be able to guard sellers from unscrupulous customers by reading all the documents and clauses and having clarity on the cooling-off period.
To ensure proper security and avoid illegal demurrals, the agent should be allowed to work with utmost secrecy. Good brokers will maintain privacy and will deal with legal issues beforehand.
The list of benefits that the real estate agents brings in is endless and it is the sellers responsibility to make the best selection. Keeping in mind these points and choosing a good agent will provide desired results.
The writer is CEO of BankBazaar.com