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.
