Tuesday, November 4, 2014

How do you choose a broker?

So you’re in the market hoping to buy or sell property. You’re looking for someone to help you out. You turn to brokers, of course: but you’re not quite sure what to look for in a broker, either. Just as with buying property, selecting a broker should be made with some thought. Here are a few things to consider:

Experience and Legitimacy

Choose a broker with a few years of experience under their belt. Check with the local regulatory body for the broker’s license. See to it that the broker’s record is clean – that is, without incidence of 
complaint or, worse yet, disciplinary action.

Specialization

Select an agent that specializes in the market or price range that suits you. A broker that’s steeped within that demographic will tend to have a larger client base at your disposal. A portfolio within that field should also attest to his or her skills in navigating that particular market. 

Knowledge of location

Ideally, your broker should also prove familiar with the location of the property. The neighborhood is crucial, and the broker should be well-equipped to sell it or provide you, the buyer, with pertinent, up to date, and useful information regarding the area.

Compatibility

Go with someone you find personable. Someone who’s easy to get along with, though no less efficient or professional. Trading real estate is often a big decision; a complex, stressful process to boot. You’ll want someone you can be on good terms with. Just as well, you want a broker whom your buyers or sellers will take a liking to: it is, after all, sales and marketing. Presentation and personality are often key.

Representation

Your agent should bear your best interests in mind. Don’t look to a broker who’s representing both buyer and seller. You’ll need someone who can secure a great bargain on your behalf, as a buyer; or someone who can snag top sum on your property for sale.

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