Ways of Choosing the Right Broker for Selling Property

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Real Estate Agent

Purchase and sale through the internet, has become the most common option nowadays. Similarly in recent times for selling a house or any property people have a normal tendency of depending on online services. However, selling of property through brokers has its own benefits and advantages. So even after the numerous online options, sale in real estate through brokers are always wiser.

While selling a property, a detailed analysis of the locality and other factors are required. Some sellers do not have much time to do the homework; in fact, most of the sellers do not have the proper know-how to do the job. In a circumstance like this, relying on a broker is wiser. They have the expertise and experience in finding out the right buyer, the price negotiation limits and other paperwork.

Following are a few steps to select the right broker --

Step 1: References and Recommendations from Others
There is always a starting point for any job. The search should begin from the people belonging from the close circle like family members, friends, known neighbours or colleagues, who are most trusted. In case of any house belonging to housing society, the society office can also help. Any area-based broker, who has an established local network, can do the best job in searching out a prospective buyer.

Again, as said in the very beginning another way of searching brokers is the digital platform, where one wound finds a number of Real Estate Agent, from trustworthy links.

Step 2: Know the Experience of the Brokers
After making a list of brokers, interviewing them is necessary. Know about their previous clients whom they have worked for. Then again, contact their clients and ask for reviewing the broker, this way one might double-check the background of a broker and shortlist them.

A broker should be selected on the basis of his experience first hand. Then try to know more about how much the broker possess knowledge of the market, the pricing and negotiation skills and also the process of registration thoroughly.

It is always good to have a clear knowledge of a person whom you’re appointing to give the responsibility of selling your property. Therefore collect concrete answers about the following facts from the broker:

  • The number of years he has spent in this business.
  • The area/city/neighbourhood they generally deal in.
  • The types of residential properties he has dealt with, like plots, apartments or villas.
  • Ask about some of his previous works and how he finds a prospective buyer.
  • Strategies he would use to sell your property.

Step 3: Rate the Broker’s Market Price Knowledge
The right broker will have a detailed knowledge of the latest price trends amidst the demand and supply situation of the localized real estate market.

Enquire the broker about the price the seller should set for his property. Ask for an idea of the time the property should be sold, whether the present time is good or not, how long it might take to complete the whole selling deal etc.

The broker should be able to give a proper justification of the price set for the property in view of the current buyer demand in the locality. Judge the broker on his ability to tell about the increase in the price of the property, if there is any improvement of transportation and connectivity within 200 to 300 meters of the property.

Step 4: License and charges
A broker should be registered under either of the respective State Real Estate Regulatory Authority, National Association of Realtors or Association of Certified Realtors of India (ACRI). Any registered broker is more trustworthy and with added credibility.

In the final step, ask the broker his charges for the service he would render. The charges of different brokers generally differ from 1% to 4%. Go for the one who would deliver more service at a lower rate.

Try to contact at least three to four brokers before taking the final decision and discuss all the matters clearly before entering into business with him.

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  • Admin

    Teesta Networks

    03 June, 2021 at 1:24 pm

    Very informative blogs, this has actually some useful information to take into consideration.

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  • Admin

    Nikhil Gattu

    27 May, 2021 at 2:07 pm

    Thank you for the blog it is very unique and understandable.

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  • Admin

    Buniyad Real Estate

    27 May, 2021 at 4:17 pm

    Thanks for sharing these informative blogs.

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