Friday, March 13, 2015

What To Look For in a Broker

Make sure that you’re in capable hands throughout your real estate transaction. Look for a broker who has the following:


Location-based success.
Experts are fond of this utterance: “location, location, location.” Your broker should know the location through and through. Look for someone with a high success rate in the neighborhood in question, whether you’re moving into this community or selling your home in your ol’ stomping grounds. 

Specialization.
Your broker should, ideally, specialize 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. 

An office address.
Look for a broker who works at a permanent office. It is essential that your broker is easy to contact or find, especially when it is time to settle documentation or any payment disputes. Your broker is still obliged to assist you even after the closing of sale.

Experience.
Your broker should possess ample experience: ask him for his resume, how long he’s been working, his rate of success, and get him to provide you at least three previous clients to serve as references. Inquire after the broker’s efficiency, credibility, and good character. Real estate transactions can get complicated: sometimes, they can take months. You want someone you can rely on, someone you can trust, and whom you can work with, long-term.

A clean record.
Ask your broker for his professional record, or look him up under the regulatory board. Steer clear of anyone with complaints filed against his record or occurences of disciplinary action.

Connections
An experienced broker ought to have connections: professionals to whom he or she can refer you, like a contractor, an interior decorator, or a professional home stager. Before hiring your broker, ask candidates whether they’ll be able to refer you to professionals that you need.

People Skills
This one’s a no-brainer. You need a broker who’s got “people skills” in aces. Look for someone who’s eloquent, someone who knows how to present himself, how to pique someone’s attention; someone professional but also personable. Talk to prospective candidates to see whether they’re good conversationalists. They should be able to make you feel comfortable in their presence. Just as well, you want a broker whom your buyers or sellers will take a liking to: their job is, after all, sales and marketing. Presentation and personality are often key.


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