Lastly, Never Ever Give Your Broker Money Up Front

Category: Finance, Real Estate.

The value of hiring a real estate broker lies in the fact that they can assist you in the process of either buying or selling a house.

Just make sure your broker represents your best interest as there are brokers who represent both the buyer and seller in a transaction. A good broker would know how to get proper financing, prepare your home for inspection and help you until the closing date. The best sources of information on where to find a good real estate broker are your friends and family who recently bought or sold a home. A good indication of a dedicated broker is the one who returns your calls immediately. Ask them to refer you to a broker who is easy to contact. Do steer away from those who can t seem to find the time to call you back, no matter how good their referrals are.

Try to visit open houses in your neighborhoods, as this is also a converging place for agents and brokers. Other sources of information are newspaper ads and the internet. Before establishing any formal business relationship, determine just how much your broker asks for commission. Always make sure that the broker s personality fits your own, as you ll expect to spend a lot of time with him during the whole buying or selling process. This is important as some brokers ask for fees when handling closing documents, apart from the agreed commission. If you can establish faith and trust with your broker, then you know you have found a good one.

Logically, a full- time broker or agent is much preferable to one who just works part- time. A good broker should also make you feel important and treat your transaction as urgent. Scrutinize the training your broker had and whether he s familiar with current trends, especially in using the internet. If you are selling, determine how your broker will market your house and ask for written marketing plan. A technology- savvy broker indicates the willingness to stay on top of his profession. See to it that your broker will get your property featured in several listings. Needless to say, this would facilitate your transaction.

Also, ask your broker if he s willing to offer a commission to the buyer s agent, as there are buyer s agent who only deal with seller s agent willing to give them a commission. Avoid brokers who ask you to sign exclusivity contract for several months. The downside, is when you, of course find a broker who gives less- than- respectable performance. This is only beneficial if manage to find a dedicated broker. Try to ensure that you protect your interests at all times. These professionals earn when your property gets sold, and not a minute less. Lastly, never ever give your broker money up front.

When a broker tries to ask for any remuneration before any work gets done, it s time for you to seek another one.

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