Is Your Real Estate Agent Trustworthy?

Posted on: 2016-03-21

Today, most home purchase and rentals are done with the help of real estate agents. Having a real estate agent as an intermediator can give convenience and protection to both parties. House owners can sell their house without meeting every single potential buyers (especially important for owners who are living overseas or owners holding a large number of properties).

The purchaser can also make sure that their earnest deposits go into safe hands when the monies are handled by negotiators from registered board, rather than transferring directly to the sellers’ hands.

However, some real estate agents can be ruthless and not fully honest.  And this is your home we are talking about. Once you buy that leaky, haunted, termite infested home your real estate agent sold you, you are going to be stuck with it for some time.

Let’s look at some desirable traits your agent should possess. 

1. Informative and Knowledgeable
The real estate agent should be able to to provide detailed information regarding a  property to you. The agent should also be able to answer your questions when in doubt without convincing you otherwise.

If you are looking for a house, you may ask :

How old is the property and it is on leasehold or freehold?
Is the property furnished and is there any repairs that the buyer has to bear?
How much do you need to pay for maintenance and miscellaneous fees?
What is the reason for sale/rent?
Is the price reasonable as compared to the  general market or do you have more units to show for comparison?
If the agent is not able to answer to you or gives you only rosy answers, you might have reason to have your antennas up.

Additionally, having an agent that is updated about the latest trends in taxation, property market and financing loans would be a plus. You might also wonder if you should rent instead. A good agent will give useful informations on these matter to aid your decision making.

2. Efficient and Punctual
Customer service is everything. If you get an agent that is sloppy, keep looking. Due to low barriers of entry to the real estate agent market, there are part time property agents that are only available on weekends, which might not be in your best interest.

Bear in mind that for good units, time is an important key so you wouldn’t want to waste your time on an agent that is half-hearted.

Having an agent that know the ins and out of the whole process can also help expedite your case quickly.

3. Customer Centered
As a middleman, a good real estate agent should understand the needs from both sides. By nature, the seller would like to sell as high as possible and the the buyer would like to purchase as low as possible. A good real estate agents will not compromise integrity and press on one side just for the sake of closing a deal.

An honest real estate agent should not conceal any defects and problems in the house from potential tenants. 
The same goes for the home owner who deserves to know any details regarding the tenant/buyer such as occupation, nationality, living with family or not, and etc.


Source From: LoanStreet

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