Qualify your Broker

A few years ago, I read an article "If you find a Good Broker, Marry him.” The article highlighted the fact that there was a dearth of Good Brokers. It’s easy to point out the negatives of any Industry, besides, which industry is absolutely clean or clear of any issues? Be it the noblest and the most respected medical or the financial and accounting or for that matter, the legal profession, all of them have their share of problems. There are as many tainted Brokers and Builders as there are professionals from the above industries, unfortunately, since the Real Estate Industry is not organized and involves huge moolah, it attracts all the attention.

My question to all these people complaining about unprofessional-ism in the Real Estate Sector, do you guys discuss your medical problems, or your taxation or legal matters with anyone and everyone? No, we enroll a professional. We take references, check their credentials and only then open up to discuss our problems but when it comes to Real Estate, we would like to discuss the issues with anyone and everyone, be it the local baniya or for that matter the building watchman.
We feel Real Estate is only about that introduction to the potential buyer and seller, after which the Agent has no further role.

A good Real Estate Agent is like a conductor of a symphony, coordinating with the different players to make a successful transaction a reality. At different points in the process, the Real Estate Agent is a Salesperson, an Advocate, an Analyst, a Business Manager, a Consultant, a Negotiator, and a Marketer.
Unfortunately, Real Estate has no entry barriers, attracting anyone and everyone to the Industry from the roadside Paanwala to the so-called qualified financial consultant. Today everyone from the building manager to the society secretary, from the property owners cousin to his personal assistant, all of them want their piece of pie for providing information about a potential Seller to the Buyer. They trade Real Estate information, there is no service being provided.

So how do you Identify or Qualify a Real Estate Agent? One must look for the following qualities:

1. Knowledge of the Industry: Knowledge is power, having up-to-date information on the current Real Estate trends and the inventory in the local market.

2. A network of connections: A good real estate agent will have a vast Network of Contacts including other real estate agents and brokers, potential buyers and sellers, and all the other players in the real estate industry such as leading advocates, tax consultants, and mortgage loan advisors.

3. Use of Technology: Technology plays an important role in Real Estate Marketing, so be it the website or the Real Estate Portals or for that matter the Social Media, a good Real Estate Agent should be able to use all these channels effectively to market his inventory.

4. Attention to detail: A good Real Estate Agent is attentive to the unique needs of his clients. He is organized, follows up aggressively with leads, communicates well, and pays attention to the needs of his clients.

5. Problem solver mindset: A good Real Estate Agent comes up with creative solutions to problems or issues, knows how to properly showcase a house to make it more marketable and develop creative listings to attract the right buyers.

6. Honesty and integrity: Most important, a good Real Estate Agent should have great work ethics, a professional reputation and must practice high ethical standards.

In conclusion, a good Real Estate Agent is that friend or guide who is well connected with his ears on the ground. He is a location expert, able to identify and offers opportunities and has the relevant knowledge of the Industry along with updated information on all the statutory compliances. He has the temperament and skill to negotiate the best price and smoothly close the transaction, pampering the egos of both the buyer and the seller.