Investing In Property Criteria To Follow In Selection Of Real Estate Agent
One of the most lucrative options of investment nowadays is property, but investing in property can lead to your downfall if one hasnt done enough research on the on-going trends in the industry. With our work, hectic schedules and personal commitments, it is hard to get about gathering the required information about properties and also to understand the procedure of the entire transaction. For this reason, we hire an expert at this work, a real estate agent. But here also one has to make a little effort to ensure that they select the right person for the job. Lets look at a few points to keep in mind while going through the process of selecting a real estate agent:
The Rule of Three
When hunting for a good real estate agent remember to at least interview three of them before narrowing down your selection to a particular one. This should be done even if you believe you have found the perfect candidate at first attempt. The reason for this is that there is a good chance that a crucial point that you might have missed out on might come up in your meeting with the second or third candidate. Also, this can help give you a scale or reference point to make comparison. Each one of the agents would have something different to add and you need to find the one that will help you add on profits from your property.
Qualifications and Certifications
The next thing that you must check is the qualifications and certifications that particular agent has completed. Many times they give you their business cards with a long list of abbreviations for their qualifications, but it is your responsibility to check these. A good example of this is e-Pro, this is a simple designation that only means that the agent has sound knowledge of the computer. The higher the certification and it acknowledgment by the government helps you validate the knowledge and expertise of the agent.
Experience and Rule of Two
The more experienced an agent is the more knowledge he has of the local market, the trends in the property prices, recent developments and future prospects of the property. In property management, wisdom is king and that is why it would be appropriate to select an agent that has at least two years of experience to back his skills.
Can Negotiate for You
The real estate agent can be an ill-qualified novice, but if he has the skill of negotiation then nothing can stop him from succeeding in getting you the right property at the right price. One should always check the negotiation skills of the agent by either trying to make him role play a situation for you or asking him to sell you something like a pencil or a pen. This helps you get an idea on how quick he is to react to particular challenges in buying and selling and how well and confidently he can portray himself.
Ask the agents for referrals of his previous clients, contact them and get their feedback. Also when searching for real estate agent it is best that your first point of reference should be your friends and family. If they have successfully gained from a particular agent then that agent should be on your list of prospective candidates.
Investing in property is a tough ordeal but it can be simplified if you have selected an experienced and qualified real estate agent with excellent negotiation skill and a good track record to help you in your selection.
by: arika rastogi