Mistakes To Avoid While Selecting A Real Estate Adviser

There are many independent ways of getting a great buyer (or seller) but a good real estate agent is a specialist whose expertise can add extra value to your search.
“A good quality real estate agent or consultant is a specialist, someone who has been in the realty business for long and knows the ins-and-outs of recognizing the perfect property for your price,” says Arindham Chaturvedi, a software specialist, who returned to Bangalore after a gap of over a decade. “We had a beautiful non-negotiable list of requirements while it came to buying a property and our consultant was able to meet almost 75 per cent of them. There is no method we could have found our dream home had it not been for him.”
 

So what is the advantage that this professional brings in?
“A great realtor, especially in the luxurious category, will 1st recognize your preferences and then get back to you with a number of choices that fit those needs,” says Vidyut Prabjot, CEO, Luxra Real estate Consultants. “This may take time but when the client/family visits the specific properties, it makes it really worth their while.”
How do you choose a great agent who can get you the right home for the set budget?
Select the broker and not the quoted cost. “Clients often select brokers depending on the prices quoted,” says Krishnappa Arjun Kamath, proprietor, Anirudha Realties Consultant. This is a basic mistake that both sellers and buyers make. “You do not select a boutique depending on the budget, but on the quality of the dresses shown, when it comes to clothes. Similarly, when you choose a broker to buy or sell a property, which is clearly a more expensive venture, it is the high quality of service and alternatives that an agent can provide that should be higher on the top priority list,’’ says Prabjot.
Selecting an agent merely based on the highest/lowest pricing is not realistic.
“The 1st quoted pricing is not at all times the best as rarely does a deal near at the same rate that was quoted initially,” says Kamath. “Too many properties languish for much time in the market merely because some adviser has been overly aggressive in pricing.”
Comparable sales and a thorough understanding of current market trends in the set segment are the best guidelines to arrive at the best price.

Network vs. experience

Individual suggestions are the best brokers to check out first. “A friend who has had a good experience with an agent is one of the perfect reasons why you should checkout his services,’’ says Kamath. “Relying on family connections simply to save on a small percentage spent on the commissions cannot be a brilliant move in the long run.’’

Other points to gauge include:

- How familiar is the broker with the neighborhood and the life-style you are looking for.

- Is the real estate segment you are targeting, within the expertise of the agent?

- Does he have the ability to listen to what you look for?

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