Property buying is a major undertaking and the realty agent is an essential part of the process – unless you are purchasing directly from the builder. The real estate industry is full of misinformation and mis-selling. It is therefore important to find a qualified agent to help you purchase a property. Real estate agents are often the sellers’ agents. This is a common myth. This is false. A good agent can help buyers negotiate a great property deal. We will be sharing some tips to help you choose the right agent for your needs.
Do your research.
Real estate agent in brampton can make impressive sales pitches. Property buyers need to remember that there is a lot of misinformation in the real-estate market. Your agent may inform you that property prices have risen rapidly in the area you are interested in. If you don’t buy now, you might be forced to pay much more. Your agent may inform you of future residential or commercial developments near the property they are trying to sell. Don’t take the information you are told by your agent as gospel. Do your research. You should ask any local home owners about the prevailing rates and escalations in the area where you are interested in buying a property. Look at property listings on popular websites such as magicbricks.com and 99acres.com. These websites have property listings. Be cautious. Some listings may not be genuine. Some listings are just for your attention. You can see the real seller’s listings to get an idea of the current property prices. Don’t rely on one agent. Talking with multiple agents will give you multiple perspectives. You can protect yourself from mis-selling or misinformation by doing your own research.
Verify the license of your agent
Real estate licenses are required in some states. It is important to verify the license of your agent. If there are any complaints or disciplinary proceedings against the agent, you can check with the appropriate authority. This is an important step many property buyers neglect. If you have any problems with your property purchase, you can check your license as a real estate agent and keep a copy.
Verify the credentials of your agent
Real estate advisory is dependent on reputation. Ask your agent for references from clients. It is a good idea to talk with at least two clients. Ask questions about the agent’s integrity, knowledge, and, if possible, the prices of the properties that they have purchased through him or her. You should visit the website of your agent. Websites often give you information about the agent’s credibility. As we have discussed, substance is more important that presentation or form. When looking at the website of your agent, it is important to pay attention to its substance.
Find out for whom your agent works:
Price discovery in real estate markets is not transparent, unlike stocks trading on the share market. Property purchase is a transaction between the seller and buyer. The transaction is facilitated by the real estate agent. The buyer and seller want to sell for the highest possible price. What is the motivation factor for an agent? Your agent may also be working for the seller. His incentive could be convincing you that the house’s price is higher so that he can make a higher commission. It is vital to know who your agent works for. The agent may be available to answer your questions. If you feel that you won’t get an honest answer, then you should ask the seller who their agent is. Property buyers sometimes believe that agents are always motivated to sell the property at a higher cost. This is often false. As a buyer, it is possible to walk away from any transaction that has a high price. It is best for you to have the transaction completed to your satisfaction.
Avoid agents who refuse to meet the seller face-to-face. Before finalizing the deal, it is vital that you meet the seller in person. You may be misled if you don’t meet with the seller. Your agent should arrange a face-to-face meeting with the seller. It is possible that the meeting is delayed because of genuine calendar conflicts. If your agent takes too long to set up a meeting, or if it is delayed multiple times without adequate explanations, then something could be wrong. To close the deal remotely, even if you live in different places, it is important that you meet with the seller, not your agent.
Avoid agents who are reluctant to provide information about the property. Just like with many other transactions, the devil is in the details. Ask as many questions about the property as possible. You should not rush to sign the contract if the agent doesn’t provide enough information about the property and copies of the mortgage documents, or other pertinent documents. Agents sometimes avoid answering questions regarding quality of construction and history of possession delays. If you don’t have all the information, you shouldn’t rush to make a deal.