Whenever we plan to buy a property, along with visiting the short-listed projects, we also visit certain real estate agents. Somewhere in the back of our minds, we perceive that the agent will help us in the overall buying procedure. He will suggest to us the properties best suited as per our requirements. He will help with the documentation processes and will safeguard us from any legalities. These are some of the genuine expectations that we carry with ourselves whenever we meet a real estate agent.
But, do we really get all of these from our agents! Do our agents actually work as an advisor to us or they just go for the commissions!
What a Real Estate Agent should do:
- Listen to their customers thoroughly:
The agents should listen to their customers, try to understand their requirements and then suggest the property options best suited as per the requirements.
- Do the fact-check of properties from their end:
The agents, before suggesting any property to their customers, must complete the first round of due diligence from their end itself. They should suggest only those properties to their clients which, they believe, are free from any issue, be it legal or delay in construction or any other issue.
- Manage an After-Sale Service:
Once the deal is struck and the client has got his desired property, the agent must not move away. Instead, he should get involved in the after-sale services and seek regular feedback from his clients. The buyers often face issues with the project once the deal is done. And it is that time when the buyer needs his agent the most.
And what agents do:
Precisely, the real estate agents in India are more focussed on the commissions they get from their clients. They are more interested in selling those projects to their clients on which they get a better commission. They are hardly concerned about the requirements and preferences of their clients.
In fact, a dealer or an agent often sell projects from different developers. Each developer offers a different rate of commission to the agent. Arguably, the developers whose projects struggle to sell in the market, offer a better commission to the agents, to lure them to push their projects before others.
What the customers should do:
Always consult more than one agent. You should not rely on one agent as you never know the project he is suggesting is actually worth investing! Also, you should do cross-checking of the project related facts and details yourself. A self-done due diligence check is always better. And at last, you should be clear with your requirements. Never get influenced by your agents. Stick to your requirements and preferences and ask for projects which suit the conditions.