Is It Time to Change Your Real Estate Broker?

You may have been working with the same real estate broker for several years. Surely you've both seen some good times together and he or she may actually have helped you get a little more in many deals in the past. However, it seems that the market is getting harder on you recently and strategies don't seem to work the way they used to. Is it time to change your real estate broker?

Keep Your Broker If:

He remains patient. Brokers and the real estate market in general use terms that may be unfamiliar to you. Your broker should continue to update you with jargons and other details regarding all your transactions. Even though you may have worked together for years, a good broker continues to listen to your questions and provides the right answers.

He doesn't delay. Your broker should get things done when or before you need them. Prequalifications, documentation, appraisals, buyer and seller conditions and estimates should all be prepared prior to the deadline. Keep your broker if he remains competent in responding to the needs of your deals. Time is very crucial especially in the fluctuating real estate market so you should ensure that your broker still grabs opportunities for you whenever possible.

He is on top of things. A good real estate broker shows you all information on all pending, open and closing deals. He is responsible in all his duties and keeps constant contact with clients, agents if you have any and the market. Your broker should be available for you at all times and has full knowledge on all payments, terms, rates and conditions of your deals. When your broker is on top of things, it means that you remain a priority.

Change Your Broker If:

He is keeping secrets. If your broker seems to be doing things his own way without informing you, it is a warning sign that he may be taking matters and making decisions on his own. Remember that your money and assets are on the line and your broker should always act as if it would be his own loss if things didn't turn out right. Change your broker if he withholds any information from you.

He loses legitimacy. Check your real estate broker's license annually to make sure that he is legitimate to do his job. He could be a liability to you in the future when making deals. Some brokers fail to renew their license which in turn would make all transactions under him possibly unscrupulous and void.

He can't sell. It is your broker's responsibility to remain competent in the market. If his old strategies and approaches no longer work and is costing you time and money, do not hesitate to tell him your concerns. Good brokers always update their knowledge and people skills in order to make your investments as profitable as possible.

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