Broker’s role is more than simply arranging meetings between buyers and sellers. He is the most crucial link in your real estate transaction.
A good broker taps a wide network of brokers, builders and owners in a short time. His familiarity with the neighbourhood properties is phenomenal has the ability to rule out the unsuitable ones. This is major time and cost saving for a potential customer. Brokers have their ear to the ground. Market prices, opportunities within and outside the neighbourhood, reputation of the builder or the owner etc. are intrinsic to the broker’s service.
A trusted broker helps you to evaluate the property by knowing and understanding the pros and cons of the property being considered. Broker helps in evaluating the overall quality of construction and amenities. A broker does this every day hence his insight will be valuable, penetrating and very useful.
In India, buying and selling tends to be an emotional issue. A broker, understanding the nuances of the psychologies of the involved persons constructs a deal which is mutually fair and acceptable. Without a broker, this is almost impossible as the egos of the negotiating parties can hinder the deal.
Brokers are well versed with the required legal documentation. Transactions invariably encounter bottle necks which the brokers can easily handle.
In India, there is no regulatory body for brokers. Referrals is the route through which brokers are contacted and their reputation evaluated. If the broker has been in the business for long, then he is not a fly by night operator. Post transaction, should there be problems, broker can be contacted to sort out the issues.
Brokers, by law, are required to collect and deposit service tax. Brokers, who do this, establish their credentials.
Sale charges: 2 % of the deal value from either side – a total of 4 %.
Rental charges: 1 months rental from each side for every three years of lease.
For your successful house locate through a broker, please help him to understand your requirements. The better the broker understands what you want, the more effective his services will be.