Tips on how to choose the right Real Estate agent
Are you looking for an apartment to buy or rent out in Kochi? That means you will also need to look out for the right real estate agent. This process is more time-consuming if you are new to the place. To start with you need to know the Builders in Kochi in terms of their work, goodwill, quality, and diversity of projects. Be it completed, ongoing, or the news – you have to have your homework done.
Conduct Your Own Research
Real Estate Agents are good at presenting their clients with a lot of information. Such practices are quite common in the real estate business. As a client looking for flats in Kochi, you should take the time to know more about the property or place they are interested in. They will make claims like “The property value will increase sharply in the immediate future so you have to buy it immediately” or regarding other projects in the nearby area. Instead of absorbing the agent’s words as such, think a little further. You should understand the estimated price of the land, any issues or problems in the nearby places, etc.
Also, it is best not to depend upon a single agent. You can get a better picture and idea by speaking to multiple agents and this will help you make a better choice. Moreover, it is better to visit some property listing websites to understand the prevalent prices in the concerned area. You can make use of websites like 99acres.com and Olx as well. Although there are other such websites available, not all of them are genuine.
Discuss the agent fees
Most of the agents are quite hesitant when it comes to discussing the agent fees in the initial part of the deal. Even if you insist upon it, they will ask to discuss it upon the completion of the deal. This is a tactic for them to command a fee in proportion to the value of the deal. Moreover, it could lead to a lot of disputes down the line as well. So, it is best that all the discussions regarding the agent fees are completed upfront. If you can’t reach an agreement with the agent regarding the fees, it is best that you opt for another agent.
Ask Your friends and family for recommendations
If you are finding a tough time narrowing down a real estate agent, then you can always look to your family and friends regarding their experiences with real estate agents. The real estate sector has always been quite hot in Kerala and someone in your close circle might have been involved in a real estate transaction recently. Also, agents recommended by your friends and relatives are much less likely to charge extra fees from you as they would like to maintain the fruitful relationship they have with their initial clients.
Discuss with the recent clients of the agent
An easy way to determine whether the agent is good for you is to communicate with his recent clients. You can ask questions regarding his capabilities, personality, and behavior. You should also enquire if they faced any issues in the transaction due to the agent and how the agent responded to such issues. Moreover, you can also ask them about the kind of fees the agent expects to receive and whether they were satisfied with the work of the agent ultimately. This will help you to decide whether the agent is a match for you.
Verify the Agent Credentials
It is always a good idea to check the track record of the agent regarding the sales he has done. We recommend choosing an agent with a good reputation. You should ask the agent to give an overview of their apartments in Kochi and the locations they work in. If possible, then ask for references too. A reputed real estate agent will furnish the same with no second thoughts. If the agent has a personal website or social media profile, then you can get a good idea about his previous works and how credible the agent is. Evidence is more important than speech and you should be judging the agent with their work rather than their words. Besides, it is better to avoid agents who do not prefer to meet face-to-face or avoids providing key information regarding the property. You should not rush into any sort of deal if the agents are not providing key details.
Verify the Agent License
This is one thing that most people tend to ignore. In fact, there is a license required for real estate agents in Kerala. They have to register with the real estate regulatory authority (RERA) before conducting any sale. Moreover, you can connect with concerned authorities to see if there are any pending cases or disciplinary proceedings against the agent. We would recommend you have a copy of the agent license. This is because if you run into any issues regarding the sale, the license copy might be a lifesaver.
Decide on the selling strategy
Another important detail is to ensure that you and your agent are on the same page when it comes to strategies to be adopted while selling. You need to decide on the number of showings, whether you will do an open house and the expected price. Moreover, the marketing tactics have to be decided as well.
Understand the scope of the agent
Real Estate Agents deal with two kinds of people-the buyers as well as sellers. The buyers would prefer the price to be lower while the sellers would like to command a price as high as possible. Therefore, you must discuss with the agent to see if he has any allegiance or affiliation with the other party. It is best that the agent is neutral as this would make for a fair transaction. Else, there is a very good chance that the agent sides with the seller to gain a price as high as possible so as to gain a big commission fee.