Property Agent

How to choose your property agent, real estate consultant, realtor in Delhi/Gurgaon, India ?

Choosing a Real Estate Agent

Finding the right real estate agent is very important whether you are buying, selling or leasing your property. It's a good idea to speak with a number of agents before you make your decision. You need to be confident that the agent you choose will provide the services you want - at a competitive price - and that they have the necessary skills and experience you require.

How to find an Agent ?

There are several ways to find an agent whether buying, selling or renting your real estate:

• Ask people you know to recommend agents that they have been happy with.
• Real estate agents are listed in the 'Yellow Pages' books under "Real Estate Agents'.
• Local newspapers are often a good source of information about local agents.
• Most real estate agents have their own websites and prominently display their web addresses in their advertisements. Many search engines and portals have directories. Real estate agents can be found using search techniques such as "Delhi property" or "real estate Gurgaon". You could also try searching some of the web sites devoted to Indian property, such as www.ayam.in.
• A list of Real Estate Agents is also available on NAREDCO (National Real Estate Development Council) website.

What kind of Agent do you need ?

Many agents specialize in areas of practice such as residential sales, property management, commercial property and industrial sales, property management, agricultural real estate etc. For instance, you may find a real estate agency that sells residential properties but does not manage residential property. It's important to find an agent who has skills and experience in the location and practice area you need.

What to look for in an Agent ?

When you are choosing an agent, ask if they:

• Have experience in the service you want such as sales, property management, property valuation or negotiations etc.
• Provide details of the fees they charge and the services they would offer you.
• Outline their recommendations about your property.
• Have a good success rate.
• Are clear communicators, who are willing to answer your questions and give you information about what you need to know?

More questions you can ask an Agent

• What experience do you have in real estate?
• What is your area of specialty?
• What fees do you charge? (Remember, you can negotiate with the agent about commissions!)
• Are there any additional charges?
• Who is the person I will be dealing with? Will it be you?
• How will you handle the sale or purchase etc. of my property?
• What kind of agreement do you suggest, if I appoint you as my agent?
• Can you give me the reference of a recent client, so that I can talk about their experience of dealing with you or about your ability?

Working with your Real Estate Agent

Developing a strong working relationship with your agent is helpful for you both. The agent is a professional, who acts for you to achieve the best possible result. Your agent can give you advice based on their experience, current market conditions and the level of interest in your property throughout the period they work for you. Good communication is vital when you are dealing with a real estate agent. You must feel confident that you can communicate easily with your agent and that they are responsive to your concerns.

Buyer's Agent

Unlike real estate agents who represent the person selling a property, a buyer's agent acts exclusively for the buyer. Recently a number of buyer's agents have appeared on the real estate scene offering services to buyers ranging from market research, bidding at auctions and building inspections etc.

Appointing a buyer's agent may appeal to people who don't have the time to attain sufficient knowledge of the market to confidently purchase a property. Fees charged will vary from agent to agent, depending upon the services offered and the services you require. Commissions are open to negotiation. They might operate solely as a buyer's agent or might also operate as real estate agents offering a wider range of services.

Fees

Fees charged by agents vary and are negotiable. The fees charged by agents to sell a property may vary depending on the location and type of property, as well as the services provided by the agent. It's a good idea to ask several agents, what fees they charge and what services they provide, before finalizing your agent. Ask them about other charges you may have to pay. Though 2% of the property price is a norm in several areas in India, but agent must charge a lower fee, if the amount of work and effort involved is low!

Some more Tips to keep in mind:

• Check how long the agent has been operating in the area.
• A good estate agent will answer your telephone and e-mails quickly.
• Although no qualifications are needed to be an estate agent, some do have training (from NAREDCO etc.). Ask if your agent has had any.
• Choose an agent who can invest some money on your behalf - to ensure that you can be transported to the site to inspect the property or by advertising on your behalf.
• Look at how agents advertise their services and how they advertise the properties they are selling or renting.
• The cheapest is not always the best. Compare the services offered, the level of skills and experience, before making any decision.
• If the agent you previously used did a good job, consider using that agent or agency again.
• When you are selling a property, it would be a good idea to attend house inspections and see how the agents deal with prospective customers. This will give you some idea of their approach to their practice.
• Ensure that the agent had enough manpower and resources that will be devoted to you. Avoid one-man outfits that are often sub-agents, who work for some other agents.
• Pay your agent his commissions and due charges as per the market practice or as already agreed upon - to take care of your interest & everlasting relationship!

Remember
You should only negotiate the commission before the initial advances are paid. If you forcibly bargain or pay less afterwards, agents/dealers are smarter than you in extracting through other methodologies, which you may not be even aware off!

Happy Home Hunting!!