Tuesday, June 5, 2018

Choosing a real estate consultant


Experience:  Taking advice from friends and family about their experience with real estate consultants is one of the best ways to gauge the ground situation. Of course, it is advisable to talk to a few and not just a couple before coming to any conclusion.  A reliable consultant will typically have multiple developers, clients and owners in his/her ambit and chances of getting recommendations about them are always higher. In today’s digital age, a real estate consultant should have his/her presence on the social media

Expertise: A consultant should be able to give a holistic picture about the real estate scenario duly supported by facts and figures. He/she should be well aware of the market dynamics and have sound local knowledge about builder track record, timely projects, locational advantages and proximity to nearby transport facilities. They should also be registered with organisations such as The Confederation of Real Estate Brokers Association of India (CREBAI) , NAR or ACRI.

Education:  A real estate consultant should have a basic degree in graduation if not more. They also should be keen on upgrading their knowledge by attending training programs and other related events organised by certified real estate associations.

Economics: Transparency about brokerage fees is something that should be established from the beginning of the engagement. Beware about the ones who sweet talk or leave it vague. Even if the consultant is known or related, one should insist on keeping the engagement strictly professional to avoid any miscommunication or misinterpretation in the future. There is usually a standard brokerage fee for every location and one needs to ensure that one knows that percentage before closing the deal with the consultant.

Engagement: Last but not at all the least, your real estate consultant’s approach towards fulfilling your requirements holds paramount importance. If you get a sense that they are purely treating this as a transaction, please do a rain check! You are highly prone to making a wrong choice if the consultant doesn’t spend enough time understanding your needs and expectations about the property. They need to be equally involved during both the initiation and closure of the deal. They should commit their participation in easing out your post possession queries and worries.