If you’re looking for properties either to rent or buy, you must know that it’s a big process. It’s not like buying something from the store. The research, background checks, negotiations, transaction processes, budgeting, etc. are overwhelming, to say the least. You can’t rent or buy property in Thane, Mahim, BKC or any other place in Mumbai, whether it’s residential or commercial without going through it all. Some tips for how to find Real Estate Agent.
However, most people still make the mistake of going at it alone, thinking that they’re going to save money by doing so.
The reason people do that is because they don’t trust real estate agents. And that’s largely due to the fact that they don’t know how to find someone they can trust. Therefore, let’s take a look at the ways you can ensure that you’re hiring the best person to help you with your long-term investment:
Table of Contents
Hire a Professional:
This doesn’t mean someone with experience, per se. You need someone who is associated with a legal and official firm. That will mean that they have an official license that you can check against their ID. You will need this to ensure that there is no shady background to the person you’re hiring.
In places like India, it’s common for almost anyone to play the role of a real estate agent just by referring a few people here and there. You want to avoid making the mistake of trusting someone like that.
Other than that, this will also provide you with the necessary assurance that they’re experienced in what they do. Someone with proper knowledge about the real estate laws and regulations along with market exposure will do the job nicely. Since you’re the authority here, you can reject someone and even look for other firms if you’re not satisfied with their work. You don’t have to pay anyone a dime until the transaction is processed. Use that to your advantage, but don’t waste someone’s hard work though. If they’re putting in the time and coming up with legit offers, you should heed their advice.
Check Their Credentials and Experience:
Real estate agents often have a reputation and credentials that you can check. Don’t be afraid to ask them about their previous dealings and you should definitely contact their previous clientele for testimonials. Unless you have a proper historical background to their dealings and a guarantee about their working experience, don’t hire them. In a market like Mumbai, there’s a huge stock of real estate firms and brokers who are qualified enough to handle your case.
The internet is a great place that provides you with a lot of information. A good firm will not just enlist their agents, but they’ll also describe their specialities and experience in detail. It’s a good practice to keep copies of their legal documents for safety purposes.
Avoid Shady Deals:
If an agent is acting in a strange way, such as engaging in negotiations and keeping you out of the loop, fire them. Some agents have been reported to be trying to keep the seller and the buyer apart. Never engage in a real estate deal without meeting the seller or the landlord for your purchase or rental agreement.
A real estate agent is required to present your statements to the other party just as you tell them. Like lawyers, they can’t change your demand or proposition even if they disagree with it. Similarly, they’re required to tell you everything as the other party has told them. It’s okay to let the broker negotiate on your behalf as long as they’re communicating the terms and conditions adequately. You can sit with the seller/landlord or buyer/tenant and ask them if there’s been any sort of miscommunication.
Confirm What They Say:
Fraudulent or shady agents have the tendency to exaggerate or leave out crucial information about properties. A good agent will keep everything concise but share everything that’s important. You can tell them how you want to be notified and keep a check on their activities and the information they provide. For example, if an agent tells you that one of the 3 BHK flats in Thane is the perfect place for you, visit it yourself. You can ask them about the details about the property and what they found to be lacking. If, upon your visit, you find something off about the property that you asked them outrightly, you’ll know they’re lying. Fire them instantly.