Things you should ask your real estate broker

What you need and want from your real estate broker is very important and it depends on different real estate experiences. If you have already sold a property before, you would know the whole process and might have a strong opinion on what price would be for a particular property, and if you want a broker, you will be more partner than a mentor. 

You will find a broker who is an expert in the market, who will help you negotiate find an appropriate contract, and answer questions along the way.

Start asking your network to friends, family, and neighbors for good recommendations and find a real estate platform online. As the internet is booming, recommendations online like on social media, etc. can work best for a good network. Referrals work the best for the lifeblood of a good real estate broker. They are likely to know your area well and have pretty good insights into local pricing and marketing strategy.

Once you have got some brokers in mind, call them and meet them individually. You can start asking them these “9 Questions” which can give you yes or no answers. By asking these questions, you can know who the best broker for you is by collecting more professional guidance about the local market, pricing, etc. The following 9 questions are as follows:

Related Topic: Why should you use a broker? (Benefits) 

How long would it take for the property to sell?

Real estate brokers in India don’t have any magic, but they should give some estimate on what they expect, based on the local market. They should also explain the pricing details and the offers provided. 

 

How long are you in this real estate market?

A broker doesn’t have to be in the market for 20 years to be experienced in this area but a broker has to start it somewhere. But with a significant track record of over 4 years should be considered as a broker or other team member with the experience they can point unto who be offering significant guidance and advice.

 

What would be the best price that you can sell the property for, given the location and condition?

Each broker has written a competitive market analysis and being an owner you would want to go through some thoughtful analysis of your property and upgrades.

When your broker advises you that the price is considerably higher than usual, then don’t assume that’s who you should go with. Some brokers would increase the price guidelines to get the listing. A property that is overpriced at the beginning will usually end up selling for less than it would have been if priced right at the start.

Related Topic: How to avoid scams in Real Estate? (Buying/selling properties) 

Does he work part-time or full-time?

A broker working full time would be considered more accessible

 

What marketing strategy does he have in selling the property?

Marketing for a property would require more than just putting a sign in the yard and listing the MLS. You would require lots of photographs and good ones among them. Apart from photography, look over their marketing materials for other homes, are the pictures appealing enough, or is the description riddled with misspellings? Online listing can also help to sell the property. Homes with more photos and videos get more attention online.

 

How long would the listing last?

If you sign in with a particular broker and things don’t work out, you would want to know how long you are committed to working with the broker. Make sure that you are clear enough on how long your contract would last.

 

How many properties has your broker sold in the last 12 months and what was the price range?

Someone who has made a killing selling starter homes and may not be right if you have got a high-end home to sell and vice versa.

 

What is the best way to contact you?

You would want a broker who is available via text, phone, and email. They should tell you the best mode for them. You would want them to be available 24x7, but there is a rest time even for real estate brokers. Ask them what is the convenient time for them to communicate and be in touch.

 

Ask them to walk through the selling process

As a client, you have the right to know about the selling process and importantly, the broker explains things in a way for you to understand.