Avoid the Top 5 Mistakes Made By Real Estate Agents

With the complicated process of buying a property in India, people often take the services of professional real estate agents to assist them in getting the best option they can get in the market. After all, who better to assist you in your dream property search but someone who gets paid to know the real estate market?

Unfortunately, instead of being the steady help property searchers need to connect with developers and property sellers, some real estate agents become the very reason why their clients do not get the best deal. 

While not always intentional, there are some real estate professional acts that may not be in the best interest of the buyer. If you are in the market for a property like a flat in Gurgaon by Unitech, it might be prudent for you not to only research the properties but also the real estate agent that you will choose to assist you.

 
5 Real Estate Agent Red Flags

1. Taking more than they can handle. Since a lot of the earnings of real estate agents depend largely on how much they can sell, they take on as many clients as they can. Unfortunately, by taking on too many potential buyers, they are no longer able to give the ample time and effort each one receives. As a result, they often just match their clients with what they know is available. Is that the best deal in the market? Not always.

2. Taking advantage of what is convenient for the buyers and sellers. As a regular person, you just want to get the whole process over with so you put your trust in your real estate agent to get you the best deal in the market. Your real estate agent needs to come through and get your new flat for you in record time. Unfortunately, some real estate agents use these situations to get more from both the buyer and the seller. If the seller does not care about how much the agent sells the property for as long as he gets the price he wants, and the buyer does not care enough to investigate if he is paying fair market price, the real estate agent is free to dictate the price – and usually it is one where he gets the biggest profit.

3. Being too gimmicky. You have to remember that real estate agents by nature are still salesmen. And like salesmen in other fields, they tend to embellish the details and oversell. Not that what they are saying is not real, but you have to learn to separate what is true and what is fluff.  But a client who has no idea about the difference between one property and another may tend to take every word the real estate agent says as 100 percent fact.

4. Insisting that he takes care of everything. Another red flag you should be wary of are real estate agents who insist on you not involving yourself in most, if not all, the steps in the property buying process. While that can be really appealing because it is convenient, the less involved the client is the more they are susceptible to being taken advantage of.

5. False price quote. Unfortunately, there are real estate agents who intentionally mislead clients by giving them false quotes to pad the commission they will be getting. This is to keep the client in the dark that they might be paying above market value.

 Picking the right real estate agent

These red flags might have scared you in getting a real estate agent. However, not all agents are like these and they do make a lot of things easier not only for the buyer but the seller as well. Their knowledge of the market and their familiarity with the complicated process of buying properties is very valuable. It is just a matter of picking the agent who is not just after the quick buck but will also be looking out for you.

Here are some things to look for when choosing the right real estate agent:

1. Experience. You want someone who has been in the industry for a while; someone who has experience in different types of transactions, specifically those that are similar to your current buying situation.

2. References. A good sign that a real estate agent will take care of your needs is when they are being referred by other satisfied buyers. If their needs were taken cared of during their dealings with the agent, chances are that they will also take care of you when you deal with them.

3. Knowledge of the area. If you are going to choose an agent, you want someone who knows the area where you want to buy a property in. It is not only about the price but the little details like proximity to key locations like school or business districts.

 
Be Involved
Make sure that when you choose a real estate agent, you don’t leave everything to him. Make sure to do your own research as well and involve yourself in every step of the buying process.