Real estate transactions tend to be hectic and stressful. They are not only complex and layered, but can also sap the energy of even the seasoned pros for the enormity and steps involved. And when you plan to go alone for some reason, even the thought of facing the entire process might make you jittery at the outset. After all, buying or selling a property without any professional help can be a long and confusing journey with hiccups along the way.
However, everything can flow smooth and all the hassles can go away when a broker is involved in a property deal. They are licensed professionals with relevant education, experience and aptitude for handling real estate deals. More importantly, a broker knows the property laws inside out and understands the market well. So, they can help you make the entire process hassle-free.
But yes, not all real estate brokers are created equal. While some are indeed skilled and experienced, chances are you might bump into someone who lacks the kind of expertize and temperament needed for property deals. Maybe, they may not be suitable for your property deal at all. So, it does not harm to do some research before hiring the right broker for your property investment journey.
In this post, 5 key things have been discussed that you – as a property investor – should know before hiring a real estate broker.
And those things are –
1. Always consider the experience above anything else
Good real estate deals happen for both buyers and sellers when the entire process involves an experienced broker. Such an agent ensures that a property deal abides by the laws and regulations of the market. They have the knowledge of the buyers as well as seller’s rights in a transaction. In most cases, such agents have probably already been involved in hundreds of successful real estate deals and maybe also enjoy a good reputation in the market. And any agent that makes all this possible can only be someone who has at least five to ten years of market experience with formal training and some real estate courses under their belt.
2. Prefer a broker based on their knowledge of the neighbourhoods
Location is always a huge factor in the matters of getting premium value with a property for sale in Québec. In fact, the real value of any piece of real estate asset entirely relies on the area they are located in. If the neighbourhood you eye for a property has access to all the amenities and services, and is located close to the city, chances are your property will be more valuable. For that reason, it makes sense to hire a broker based on their knowledge of the area where you intend to invest. When the broker knows the neighbourhood inside out, understand the market trends and is aware of the potential of future growth etc. they can surely help you find a good property.
3. Know the number of clients they have worked with
A good real estate broker is never short on work. They are always busy with one client or another. You can also expect them to be consistent with getting the business, no matter whether the market is up or down. Plus, such brokers often enjoy a fine rapport with clients as well. So, you’d ideally want to work with an agent who has helped a big number of people like you in realizing their property dreams. You’d wish to hire a broker who is a thorough professional and a go-getter who gets the deal done, almost always. To find such an agent, make sure you ask them how many clients they have helped this year.
4. Understand the kind of approach they adopt to property deals
Every real estate agent you will meet in the market with have their unique quirks and methods to madness. You should not expect them all to follow a similar philosophy to work. While some will adopt an integrated approach where they keep the client in loop at each step of the way, others might prefer to play the game entire differently. While some might be good with marketing the property, you can expect others to be great at negotiations. While some will be great at providing help with the buying process, others might be more suited to selling. So, once you understand their method and style of work, it can always become easy to hire the best from the lot.
5. Seek information on the fees or commission charged
You should expect real estate brokers to come in all flavours when it comes to fees and commission. In the market, don’t expect a one-size-fit philosophy as far as the fees and charges of brokers are concerned. It’s quite natural for the fees to vary depending on the type of services offered and the brokerages. But yes, you should always prefer to get an ideal of the total cost you may have to incur on availing their services. Whether the commission will be a flat fee or a percentage of the sale price, whether they will charge advertising fee for your property or a fixed amount as marketing, all this should be known well before taking them on board.
Investing in a real estate broker is a decision that always pays rich dividends. Whether you plan to buy or sell a property, it’s the job of the broker to make sure everything turns out as hassle and risk-free as you would ideally prefer. So, choose the right person and enjoy an easy ride with your property deal.