[ecis2016.org] Here are some tips for home owners, on how to utilise the services of a broker and for brokers to ensure smooth business throughout the year
Besides the usual service of helping you to zero-in on your dream home, a real estate agent can provide you with many other services, at a cost. It is good to opt for a full-service broker, as this allows you to save time. Moreover, such brokers may have better contacts and may be able to fetch you commendable services at a good price.
You are reading: Allied services that a real estate broker can provide
Gone are the times when buyers and sellers relied on word-of-mouth marketing of a property alone. These days, listing your property online makes your property more visible and helps you reach out to a wider audience. This is one of the services that you can ask your broker to do for you.
The agent need not depend only on his pool of potential buyers but can look out for prospective ones from within or even outside the city. Non-resident Indians (NRIs), for example, usually look out for homes in their native place, to upgrade their lifestyle by the time they come back or even gift a property to their parents. Only word-of-mouth marketing is not enough. If you are not confident about listing your property online and marketing it on other platforms, you could pay your broker slightly more, to avail of these personalised services.
Also read out story on tips for brokers for creating emailers for clients.
Showcasing the property
You can insist on the broker showcasing your property. This can be done through photographs too. Generally, sellers may not be able to click high-quality photos of the property. In these cases, you can always ask your agent to do it for you.
Normally, brokers in India will pitch the property only when buyers approach them. In the face of COVID-19, they can also help you with a professional live tour of your property to a buyer. ‘Open houses’ are a popular concept in the west. It means the broker will go the extra mile to pitch the home to prospective buyers, showcasing the impressive features of the property. List down what you expect from the broker. If it goes beyond the scope of their services, a little expenditure on your part will help you close a deal successfully and faster too.
Services of professional contractors
If you are a seller or buyer, you can always ask your broker to help you out with contacts of trustworthy professionals – carpenters, plumbers, electricians, movers and packers, etc. While most people insist on finding such services themselves, asking your agent to do it, will save you time.
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There is a general mistrust, especially when it comes to such contract services. Brokers must remember that a good referral will always impact your credibility as well and could even be rewarding, in the form of more business. So, avoid pitching your friends or amateurs as professionals, to your client.
Your real estate broker can also walk the extra mile to provide you with documentation (research) of the neighbourhood. If you are someone with an eye for detail, you will definitely want it too. Just like brochures work for a project, brokers can provide you with the report of the locality – pros and cons, upcoming development, price trends, capital appreciation, etc.
Caretaker of the property
When 65-year-old T Shantaraj and his family moved to Kannur, they needed someone to maintain their property in Delhi. At a nominal rate, the Shantaraj family hired the services of the broker, to look after the maintenance of the property, paying the bills, pitching the property to potential tenants and at the right time, helping the family to sell their property too.
Such businesses also ensure steady income for the brokers. At the same time, those of you who stay away from cities where you own a property, can ensure that the property is well maintained, for as long as you hold on to it. You can also confer a limited power of attorney upon the broker, if you trust them, for carrying out transactions that would otherwise require you to be in the city in person.
How much should I pay my broker for extra services like contracting professionals?
There is no set payment but you will need to mutually agree with the charges as quoted by your broker.
In India, how much do brokers usually get paid out of a deal?
Home owners, buyers or tenants and all parties who have hired the services of a broker usually pay 1%-2% of the property cost/rent towards the fees of the broker.
How do I ensure that a broker is good?
Online reviews about the broker and word-of-mouth recommendations, should help you gather some information about the broker.
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