Can you rely on property agents for buying property?
Real estate sector has grown tremendously in the last 10 years. During this time, buyers have become more aware about their rights. There has been a spurt in internet services too. In other words, consumers now have a choice to buy a home using property listing websites. Also, new professional set ups, which provide consultancy to invest in a property, have suddenly shot up.
So, how does the old brigade of property agents feature in this new scheme of things? Or to say, do buyers still need their services which are only available at a commission cost? We try to answer some questions looking at advantages and disadvantages of seeking help from a real estate agency.
Why you still need them?
Convenience of in-person consultant services is offered by full-time real estate agents only. They are still an important link between the builder and buyers, if you consider the ground work like finding homes matching your budget and requirement, or contacting seller’s agents. It is a mammoth task to do things on own.
You may feel the there is more transparency between the sellers and buyers dealing directly. However, it still not as smooth as it may appear to be. Many times there is a discord between the seller and the buyer. This makes your case more sensitive. A third-party intervention will help as these are experienced group of people, who have been in the business for a long time.
Similarly, property agents are experienced to prepare contracts and put things in order for you. Real estate agents are your trusted partners. Their business soul and reputation depends upon client recommendations, and they can also be punished legally for cheating the buyers. Spending few extra bucks when you are buying a property worth crore, should not stop you from making a safe investment.
Property agents can be tricky
The property investors have to be proactive and well-informed still. Even if you are relying on a good property agent, it is not recommended to have blind faith especially when a deal of this magnitude is involved. It is good to do your homework. You don’t want to suffer by being misinformed.
One such trick used by a real estate agent is to sell a particular property and talk only about its advantages. In their attempt, an agent is likely to downplay other properties. You don’t want to miss on the best one. Internet will help you in drawing a clear comparison. If you type ‘plots in Yelahanka’, your screen will pop with many options. You can browse through it and shortlist few options to be discussed later.
It is also recommended to do a quality-check on the construction quality. Observe the fittings, the condition of common areas, or the wall condition, to be doubly sure.
Don’t be misled by the online ads given by real estate agents. They only show the beautification of the property. Check the license of the property agent as this sector is dominated by unregulated or unorganized players.
