Top 5 Things Where Real Estate Brokers Hide From Property Buyers

Finding a broker or an agent to buy or sell your home is difficult. Here are 5 things they won't tell you:

1. Their commissions are negotiable:

When you engage a broker to look for a home for you or sell your home, they will discuss their commission beforehand and once you agree, they will not back down from the price quoted. You should know that their commissions are not written in stone, they are negotiable, it depends on how needy you seem. If you are well informed and maintain a firm stand on the price, they will leave room for negotiation more often than not.

2. Prices are going down i.e Market is bad:

Their job is to create demand. So if the market is bad, your house might not sell. And probably not a good time to buy a house that is under construction and long way away from completion. Do your research before you hire a broker, who tells you otherwise, because irrespective of the market condition, they get their commission. But for you, being a long term commitment, it shouldn't turn out ugly.

3. It's a bad investment:

A broker might not tell you it's a bad investment. You can judge by the current demand, social infrastructure developments nearby, transportation facilities, location, builder, quality of construction, facilities in the neighborhood. Check the current rate per sq.ft for that location to be sure of your decision. Always ask for approval numbers, so you know they have received all due panchayat or government approvals.

4. Builder is offering discount:

If a builder is offering discount, you might not get to know through the agent as that will bring down their commission. It is better to enquire with the builder directly for any such offers or discounts. If they are willing to give you a better deal, then you can bypass the broker.

5. There is no buyer for this property:

If you are selling your home, the broker might not tell you that there are no buyers at the moment. It is a sign that you should wait it out till you get a good buyer who can give you a good price. If a buyer offers a lesser price than you quoted, you might not get to know of them as that means lesser commission. You need a buyer who can meet you more than half way and would take care of the property & its maintenance without much transfer of ownership dispute.

About Metroplots:

Metroplots is an online real estate portal connecting people with properties in Chennai, apartments in Bangalore, Mumbai, etc., offering free site visits, homeloans, expert advice.

Muddassir Ahmed writes for Videojet Technologies - a world-class leader in marking and coding Industry. For more info, visit http://www.videojet.in