Purchasing or selling property is a crucial financial decision due to the scale of financial transactions involved in the real estate sector. Whether you are purchasing property for personal use or as an investment, making an informed decision at the right time can do wonders. A real estate agent is an integral part of the process. Choose the best real estate agent in your area to ensure you get all the help you can!
Previously, we gave you five reasons why your real estate agent is your best friend, and now, we bring you a seven-step guide through the process of finding yourself the best real estate agent in town.
Table of Contents
Seven-step guide to choosing the best Real Estate agent:
1. Education
Pakistan has recently witnessed well-educated & qualified young entrepreneurs choosing to pursue a career in real estate. This bears good news for people looking for real estate agents that are well-versed with the dynamics of modern-day business.
An educated realtor will add structure to the process of buying or selling property and will provide their clients with clear and concise financial data using modern tools like excel, Google Sheets, etc. In fact, agencies are also looking for more sophisticated tools and systems to keep clients well-informed about their portfolios.
Moreover, a well-educated real estate agent is also familiar with modern marketing techniques, communication strategies & portfolio management skills that will strengthen the support they can offer you. When you choose an agent or company to work with, make sure they have a solid educational background and can align their knowledge of business ethics with their practice.
2. Experience
They say that experience is the best teacher. Experience is a significant trait to look for in a real estate agent. An experienced agent has learned his way around the market by getting things done first-handedly. They can assess the geographic constraints of a property, analyze altering market trends, verify facts and make critical decisions suited to your best interest. Moreover, their experience also gives them a degree over everyone else as they are familiar with the technicalities of transfer processes, hidden charges, and after-transaction services!
However, when you assess how experienced a real estate agent or company is, it is also crucial to ensure that they are experienced in areas relevant to your interest! For instance, you connect with an excellent real estate agent that has helped people buy their dream houses, however, you are looking to buy a shop. You must find yourself a real estate agent that has expertise in the particular area and is experienced in buying and selling commercial shops in residential areas, malls, etc.
3. Portfolio
Request the agent or company of your interest to share their portfolio with you. It includes their previous and existing clients, the number of ongoing projects, housing societies and commercial projects they have frequently worked with, etc.
Your real estate agent’s portfolio will help you identify the type of clients they usually cater to and the niche they mostly work with.
Furthermore, authorised real estate agents provide you with maximum insight, latest news and protect your interests in the best way possible. Always look for authorized agents especially when considering new projects because authorized agents have their personal stakes invested in the project which ensures that you will get excellent after-sales service.
4. Client Relationship
Before choosing an agent or company for your Real Estate investment, carefully scrutinize the reputation of the concerned party. What people, especially previous customers, say about a Real Estate agent or agency reflects their relationship with their clients. In our personal opinion, this is the most crucial factor you need to consider.
Your concerned agent or company can have all the right things but if they are unable to maintain healthy relationships with their clients, they will do no good to you! In short, your consultant should make you feel comfortable. The ability to make clients feel secure and satisfy their concerns is what makes a Real Estate agent exceptional at his job!
5. After-Sale Services
It is important to understand that a real estate agent or company is not just there to help you find the best deal but also to offer after-sale services that you may need at any point in time. Don’t go for an agent just because he quoted you the lowest price, well-reputed agencies deserve to be paid for their services, vast network and after-sale services.
What would you need from an after-sale? Well, a good agent will help you find a buyer when you plan to resell. Moreover, he will provide you honest advice rather than ripping you off of your lack of market knowledge.
In short, a good real estate agent will help you through the transfer processes and documentation while ensuring that the process is as smooth and speedy as possible. Furthermore, he will provide you the best after-sale services to keep you well-informed about your investment.
6. Long-term commitment
When you choose a real estate agent or company for yourself, you need to assess whether they are in business for the long run. When you consider a person or agency, it is important to identify that real estate is their main niche and not just a “side business” or “hobby”. A great way to assess this is by analyzing the commitment they have to their business.
Ask yourself the following things; Do they have an office? Do they have a team? Do they have an online presence? How committed are they to becoming a brand? A person or company that wants to thrive in the real estate industry of Pakistan is likely to take all necessary measures to establish themselves as a trusted brand.
7. Make sure they are Real!
When anything sounds too good to be true, it probably is! So when your Real Estate agent is full of promises and does not offer you an honest and balanced insight, you need to think again!
A good Real Estate agent is truly real! (pun intended). They will share a complete picture with you, including any geographic concerns, structural limitations, hidden charges, expected delays, etc.
What not to do when you choose a real estate agent? Worry about the cost!
Cost is one reason why most people shy away from opting for a Real Estate agent at all and try to get things done by that friend, who knows someone who knows someone that knows about property! Well, that just might work for some, however, in most cases, it can be disastrous!
An agent or company that has spent their valuable time and energy working and gaining invaluable experience will charge for their service. The standard commission in Pakistan is 1% of the total price of a property, however, it is subject to change with varying agents, companies and projects.
The best real estate agent might seem expensive but the returns on your investment will surely make it worthwhile. They will guide you through every tiny detail of the process and make you think of things you may have completely missed!
So, What are the Top 7 Things to Consider when choosing a Real Estate Agent?
Good real estate agents can be a game-changer in your investment so spend all the time you need to look for the best one available in your area!
The seven factors summarized below can provide you a great checklist while choosing a real estate agent or company:
- Education
- Experience
- Portfolio
- Client Relationship
- After-Sale Services
- Long-term commitment
- Make sure they are Real!
Carefully choosing your agent will save you from any hassle in the later stages of buying or selling property. If you want to learn more about why you should invest in real estate, read here!
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