At some point or the other in an adult’s life, there arises the need for a real estate agent who will help in buying, selling or renting out property. Eugene Bernshtam says horror stories of fraud or incompetent real estate agents abound, hence it is imperative to be sure about how to choose the right real estate agent before engaging in the process.
Tip #1: Choosing an agent with the right set of credentials is really important. This includes checking if they have a valid real estate agent license or enquiring about how many years they have been in this line of business (a minimum of 5 years is a good benchmark). Look, out for any accolades they may have received in the form of awards, commendation etc. on their website or advertisements and most importantly ask for references and contact one of their recent clients to find out about their experiences.
Tip #2: It is important to check whether or not the real estate agent has ample knowledge of the area in which the real estate transaction is to take place. Someone with reliable expertise and recent transaction history in the area of choice will have in-depth knowledge about the pros and cons of each property (price range, range of bargaining, local businesses in the area etc.) that is being shown to the client.
Tip #3: Open Houses are a good way of deciding on whether or not a particular real estate agent is the right one. The way they interact with other potential clients or plan the tour of the house and the information that is provided should be satisfactory. Especially when selling a property, it may be important to note how the property is being shown and described to potential buyers so that the best price is ensured for the seller client.
Tip #4: In case of renting, leasing or buying property for industrial or office purposes, it is crucial to check that the real estate agent in question has experience in dealing with commercial spaces. This coupled with their knowledge of local taxes, municipal and state property laws etc. are important when meeting the needs of an office or industrial space.
Tip #5: As per Gene Bernshtam, sometimes it is difficult to figure out real estate jargon and a lot can be lost in translation between a buyer/seller/renter and the real estate agent. It is vital to ensure that the communication between the two parties is clear and that the real estate agent is able to answer queries, decode difficult information and express clearly the issues of the property to be bought, sold or rented.
One key thing to keep in mind and get settled on very early on in the process is the matter of the agent’s fee or commission. Overall, it must be borne in mind that real estate agents can be a helpful source of deals and bargains in the property arena. They are the people who can make a stressful ordeal like property transactions smooth and hassle-free for clients.