A lot of property buyers, as they decide to go in for a purchase, decide consciously to exclude real estate agents from the entire process, so as to save on precious money, which has to be paid by way of commission. This sometimes backfires as they end up dealing with unscrupulous people who take advantage of their naivety and cheat them of their hard earned money. Real estate agents or brokers as a valuable part of the entire process provided you use them judiciously.
It will be wise to recall incidents in the past of people who have taken the help of agents to finalize a deal. They shall tell you that the money paid as brokerage fees has been worth it, as they have got good deals and been able to live a peaceful life afterwards, as they have faced no issues regards that purchase. Need less to say, not all agents are sincere and honest. There are cheats among these too, those who resort to unfair means to earn a fast buck. It is therefore advisable to have a screening process for real estate agents as well, before you decide to choose one.
A few factors that can be help you in finalizing a real estate agent are:
1. Reputation of the agent: The goodwill earned by an agent and his reputation in the open market carries a lot of weight. You can gauge his honesty by asking for a list of his clients and then proceeding to cross verify with them about his work ethics. This gives you valuable insight into his business.
2. Status: The status of an agent can be measured by the location of his office or by the type of staff employed. A well organized set up indicates that he has worked favorable deals and has been fairly successful. Such people can help you as they have contacts to clinch good and fair deals.
3. Contacts: As you personally meet an agent, it will be wise to check with him about the availability of a legal back up for your transactions. A competent legal team will help you finish all formalities without any mistakes.
4. Deals Offered: Ensure that the agent is offering you commission rates which are on par with the market rates. Some agents offer lower rates to lure customers, in which case, it is always a good option to scrutiny the workings of such a broker.
Like in every other aspect of property purchase, this is also an important point which needs to be scrutinized to the maximum. A simple tactic is to do your homework well in advance and keep your facts ready, so as to speed up the process.