Are you looking to rent or buy a home, or rent out or sell a home you own? Real estate agents can be helpful with that. Here are some ideas from a reader about how to take the most advantage of your estate agent.
Mapping out a plan
The moment you decide that you would like to buy, sell, rent or let a property, it is a good idea to contact an estate agent. You need to talk to someone familiar with the area you live in or the places you are showing interest in. The cost of doing anything will be primarily based on where you live and how convenient it is for others to access things around the property. Your agent will help you look at how far you are from shopping malls, schools, hospitals, public transport and main roads. They will help you determine the possible costs and all the possible prices you can charge if you are looking to become a landlord. Sitting with them to discuss every pro and con will also give you perspective on whether this is something you want to do or if you will be able to afford it. You do not want to find yourself in a home where you are left with no retirement fund.
Applications and deals
As long as you remember that an estate agent is still a salesperson, you should be fine. Many of them will try little tricks to make it easier for them to get the sale, but the real trick is to stay one step ahead.
The first trick that you need to look at is what exactly you are paying for. Estate agents get paid after the sale is through, so they might want to sugarcoat some information to try and get you to buy or sell faster. Be on the lookout for significant discounts like transfer fees or stamp duties because it could be that the costs have already been added to your repayment total. A paper trail is also substantial to prevent backstepping from happening. A seller or buyer might try and retract a statement, and without proof, you won’t be able to do anything and might find yourself in legal trouble.
Look at everything with a magnifying glass and be on the alert for reversed psychological bidding. If you are not ready to put down an offer on a place, then take your time. Don’t fall for being rushed or dragging into panic buying just so that they can get the job and close the deal. Be on the lookout for properties and homes on your own. There is no harm in getting them to come in to check it out afterwards. They might not send you new leads when they get it, but be sure to contact them for enquiries on new places that either of you might find.