8 Reasons why you should hire a property dealer:
Most home buyers, especially inexperienced first-time homebuyers, think that if they make a property deal with the seller directly without a mediator, this will save them money. Well looks like a great idea; however, this is not the case mostly. You may save some money today, but may end up coughing up a larger amount of money later on post-sale.
If you have a fever, you know that you have to take paracetamol, but why do you still go to a doctor?
Following are the reasons why you must always buy a property through an experienced and well-informed property agent only.
Suppose you have decided to buy a brand-new house for your family in a residential project or a builder’s property. In that case, you must know the builder’s previous track record and reputation in the real estate market. If you have enough time and resources, you can investigate on your own.
Be careful not to get deceived by flashy advertisements and PR exercises by the builder’s marketing team. They can be misleading, and at times would not give you the actual picture.
An experienced property dealer is in the market for so many years and he has more frequent interactions within the real estate fraternity than you can have, so he can give you a more accurate picture about builders and their track records. A knowledgeable property agent will always help you with the correct decision.
Finding the 3 BHK flat for your family can be quite an ordeal given the number of choices in the market, and since you are just a weekend property hunter, an experienced property agent cut out the task for you.
The property agents have greater access to properties, and they know which property will suit your requirement.
They can shortlist the properties for you to go and take a tour of instead of you trying to find a needle in the haystack.
A skilled real estate agent will be able to spot potential problems in a home. The agent will conduct a thorough home inspection and observe the house from their perspective. Your agent can negotiate if there are areas that need improvement. Negotiations can include having the seller fix the problem as part of the agreement or lowering the price to allow future renovations.
These problems can go unnoticed, or you may not get the result you want. A reliable property dealer can be your saving grace in negotiating what you want and what you deserve.
Paperwork in LOI/ EOI, the builder-buyer agreement, is a major part of the home sale process. An experienced property agent makes your life much easier. He will take care of preparing the contracts and documents. His primary job is to be in the market day in and day out. An experienced property dealer has contacts. He can make you go through the process easier than you yourself chasing after the official formalities, not to forget the after-sale paperwork.
You can negotiate a deal without a property agent through the sales representative in the project who is an employee there, thinking that this will save you the agent’s fee. Well, property dealing requires long-term personal one-to-one rapport between buyer and seller. Remember, a sales representative is only an employee. He may find a new job and leave the company at any time after you have bought the property in a residential project. This could be a problem for you.
Now, what will you do for all the after-sales work and disputes – if any? What if the builder defaults in giving you possession on time?
There can be numerous issues, which may be frustrating for you. It is always a good idea to get the deal done through an experienced real estate broker who will also provide you after-sales assistance and help you with resolving the disputes.
Experienced real estate agents know the market very well.
They will have a lot of experience evaluating the property’s real value against what the builder is quoting.
They will help you find the best listings for you at the right price. They can help you avoid listings that are unlikely to provide what you need, which will save you both time and money.
It can be exciting to purchase a home, but it can also be overwhelming and emotional. You can rely on a real estate agent to guide you through every step. A real estate agent will accompany you at every home viewing to help you understand the pros and cons of each design.
You don’t want any surprises in the last hours of the process before your home becomes yours. You do not want that your house is still not ready because the plumber could not finish the work on time or maybe the kitchen sink is still leaking. There can be potential delay in your possession because of document errors, last-minute requests, etc. A professional realtor will be able to see potential problems from miles away and help you overcome them or find solutions before it’s too late.
If you are prepared to do all the ordeal yourself, choose the right home at the right price and the right location, do all the paperwork and handle all the expected disputes or confusions yourself without a mediator, then it is your choice. It is, however, recommended always to have a mediator between buyer and seller. You may think that for the time being, you saved money by removing the property agent from in between, but in the longer run, you may end up spending more money and time than you saved by not hiring the services of an agent.
We thank Mr. Gurpreet Singh and Mr. Sandeep Kambhoj of The Home Corporation for their valuable inputs. The Home Corporation is a reputed and well-known real estate agency in Zirakpur, Punjab.
A property agent acts as a mediator between the parties and helps them reach an agreement. The mediator ensures that property transactions are smooth. A real estate agent can help you not only find the right property but also handle any property disputes after and during the sale.
Ensure that RERA has approved your real estate agent. RERA makes real estate brokerage professional. Secondly, look for an experienced agent. An experienced agent can offer valuable guidance and knowledge about the local market.
Real estate agents who violate the RERA rules may be subject to suspension and penalties of Rs.10,000 per day up to 5% of the approximate cost of the project and even jail time.