Buying a property is a complex task involving many key players, one of whom is a real estate broker. A broker understands your needs and budget and helps you find the best property. Hiring the right broker has many perks, like it saves you from hassles and reduces searching efforts.
You will find hundreds of brokers in the market, but not everyone has the skills to fulfill your needs. So, in this blog, we will discuss tips on finding the right broker for your property purchase. Let’s check out.
How to find the best broker for property purchase
Check the market knowledge
A good broker is one who is familiar with all the market dynamics. He should know everything about the locality where you want to buy a residential flat. Apart from that, he should also see the government regulations, state rules, and market trends. If you know someone who is well-versed in the details, you can proceed with the purchase. Make sure to check whether the broker is licensed and is an NAR (National Association of Realtors) member.
Check for RERA registration
Being a member of NAR is not enough. You also need to check whether the broker has RERA registration. You can ask them for their RERA registration ID, which they get after registering with RERA. Alternatively, you can check all the details on the RERA website. You can enter the registration ID and check the broker’s details.
Check their network and contacts
A trustworthy real estate broker has extended networking with various owners, developers, and other real estate brokers.
Makes you understand realty jargons
A good broker is one who easily decodes real estate jargon and explains its meaning to you. A broker with such skills is easy to deal with and move ahead with legal paper work. Ensure to hire someone who is adept at decoding carpet, super, and built-up area, encumbrance, occupancy certificate, and development permits along with many other technical words.
Check the reviews
Once you’ve shortlisted a broker, check out their reviews from previous clients. It will help you look into the services they got and the experience they had with the broker.
Clarify the brokerage charges
Brokers charge a certain fee for their services. It is recommended to discuss the brokerage charges which usually falls between 1% and 2% of the transaction amount. You can negotiate on their brokerage charges, but be sure to pay more to a well-established and reputed broker.
Look around and compare brokers
Before you finalise a broker, it’s recommended to look around and compare first. Research and shortlist at least a few brokers. Compare their prices and services to find one who appears good for your requirements.
Conclusion
Finding the right real estate broker is a cumbersome task. It requires your time and research skills. But when you get a reliable broker, buying a home or property becomes easier. Follow the tips mentioned earlier to end up with a credible broker for your property search. The right broker will save you from all the hassles of property purchase.
