How to check a real estate agent's credentials

How to check a real estate agent's credentialsImage Credit: Supplied

Before making a wise choice for a residential space, you may have to deal with different real estate agents. However, choosing someone who will meet your needs is no walk in the park. Before finding ''the one,'' check the following factors first to assess their capability, experience and expertise:

• Experience – An experienced person knows the latest trends in the real estate market and can guide you in finding the best option. A fresher is also helpful in that he has enough time in his hands to work for you with more concentration and enthusiasm.

• List price to sales price ratio – Have a comparison of the list price to sales price ratios from different agents before selecting one. The right person will negotiate a sales price that is lesser than or near the list price for buyers.

• References – Make sure that you hire a successful property agent. An experienced agent can give you a list of satisfied clients, while a fresher can give you references from his previous employers.

• License – Work with agents who have a valid license provided by the Real Estate Regulatory Agency (RERA). Make sure that he has not faced any disciplinary actions. This will help you make your dealings transparent and safe. Verify the company's registration number as well.

• Specialization – A common trend among real estate agents is to specialize in a particular category. You can get the maximum benefits if you select an agent who is actively engaged in a particular area. Always choose someone with an up-to-date market knowledge.

• Transparency – Ask the agent about transparency in communication, negotiation plans and price listings. Use his problem-solving skills to overcome your challenges and make sure that you will get the best.

Because real estate agents are more familiar with the industry and have a better idea about the market dynamics, do not forget to inquire about options that meet your specific requirements.

Handy Hints:

• Before hiring an agent, ask about his experience, services and service fees

• Ensure that he is RERA certified and that he knows the market dynamics well

• Check his specialization; get references from customers, previous employers

Get the mortgage buyer's guide to purchasing property

Source: Asha Das, Special to Properties

The writer is a freelancer


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