Easy Tips to Identify Good Real Estate Brokers

I know you are planning to invest in real estate, as it is the best investment avenue in the present modern world. In fact the real estate market has its own charm always, as there will be property transactions each and every day. Home is a primary requirement of any human being and many are out there in the market looking for great deals.

How can you be assured of getting a great deal?

I know that you know the answer. But I want to emphasize the importance of the real estate brokers. Real estate brokers can make great differences in your investment opportunities.

Distinguishing between good and bad

Many people ask me how to distinguish between a good broker and a bad broker. In fact you also asked the same question earlier, right?

Let me give you some effective tips for you to identify an excellent real estate broker.

o When you are looking for your dream home through a real estate broker, you have to approach a reputed real estate broker. He will gain the reputation only through many years of experiences and his admirable services to the buyers and sellers. He would have facilitated many buyers to get his dream home and for sellers to get good value for the property.

o Next factor to be considered is the experience. You make sure that your broker knows in and out of the real estate market in the locality of your interest. An experienced broker will know the good and bad of the property in that locality. He will know about the local market prices of the properties as well.

o Good real estate brokers will act as negotiators between the seller and buyer. He will never take the role of a spoke person of any one side, especially of the seller. He will be a patient listener to the needs of the buyer as well.

o You have to approach a real estate broker who has many properties listed for sale. Similarly he should have a good client base of sellers and buyers, so that the deal can be easily materialized.

o Good real estate brokers will have strong small group who are ready to serve the customers as and when requirement arises. They will do all processes on behalf of sellers and buyers, including the documentation.

o Good real estate brokers will classify the properties in to number of groups based on location, price tags, facilities and other factors. As a buyer this will help you in narrowing down the search.

o Good real estate brokers will always give good advices on the repairs and modifications required on the property. He will bring the notice of the buyer the disadvantages of the property as well.

You can check with your family members or friends who had dealings with the real estate brokers for a perfect selection. This is a best way to identify a good real estate broker.

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How to Deal With Real Estate Brokers

The real estate industry has experienced so many ups and downs in the past and even until now. But since change is inevitable, the people involved in this sector have risen to the challenges.

The real estate brokers are among the important players in this industry. Around the world today, there are some 1.3 million brokers also called realtors with most of them located in the U.S.

Together with the real estate agents, they assist buyers and sellers in achieving their goals especially in getting the best deal possible. On the behalf of the buyers, the brokers negotiate for the lowest prices they could get while when working on behalf of the sellers, they negotiate for the highest possible price for the property.

These brokers take charge in providing the necessary information about properties for sale, their market value and the documents required in closing the deal. While they may have the same function as that of the real estate agents, brokers are on a higher level as they usually have a license to operate their own business or realty office. They can also rent and manage properties for a certain fee.

The agents, on the other hand, work for and with a broker under a contractual basis. They earn a certain commission from the real estate brokers for every property that they sell. After several years in the industry, though, these agents may choose to obtain a license in order to become a real estate broker themselves.

If you're planning to invest in or sell a property and have not much knowledge on where to start your search, you may want to consult with a real estate broker or agent you know. You can ask for a referral from friends and colleagues if they know of a trusted and well experienced broker in your specific area to help you with your desire to either buy or sell a home.

On your initial consultation, you should inform the broker or agent right away about what type of property you're looking for and the price range you want. You need to tell them as well if you're bent on getting their services from start to finish.

From there, these brokers will then help you look for properties suitable for your needs and budget. They usually obtain listings of homes for sale and then compare them with similar properties that were recently sold in order to figure out the most competitive market value. Financing options may also be offered to you in case you don't have sufficient funds to purchase the property.

Once you are provided with several choices, you may request to personally visit the properties to check their condition and location. A gauge on what makes a good real estate broker or agent is their ability to identify and provide buyers with the most important selling details. These should include the crime rate in the area, accessibility to schools, shops and banks as well as the floor plan of the house.

Keep in mind that you need to be honest about your needs to a real estate broker so they can, in turn, finds the best ways to meet your needs.

For information on real estate brokers, visit http://RealEstateBriefings.com, the blog that provides the latest and greatest on Real Estate.

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The Advantages of Working With Independent Real Estate Brokers

Are large real estate franchises better at selling homes than independent real estate brokerages? Everyone knows that brand recognition is an important part of marketing. Big franchises have large budgets to run advertising on TV and other media, and many of these franchises have been around for decades.

However, independent real estate brokers have gained ground in the market over the last decade, largely thanks to the Internet. Online listings have become a huge factor in buying and selling homes.

Consumer Reports tackled this issue in their September 2008 survey on real estate brokerages. Their survey indicated that there is no difference in satisfaction level from sellers working with independent brokers vs. the major franchises. However, the survey did show that autonomous brokers were more likely, and had more freedom, to lower commission rates when asked.

This information is not all that surprising. Today's real estate market is far different than the market franchises dominated thirty years ago. Over half of the brokerages in the business today are independently owned rather than franchised, according to the 2009 National Association of REALTORS Member Profile. Competition is fierce, buyers are more savvy, and the Internet allows anyone to search the MLS (multiple listing service) of homes to find promising properties in their price range. Much of the legwork that agents used to do has been eliminated.

What might be surprising to learn is that independent real estate brokers, despite their "boutique" image, often offer cost savings over the big-name franchised agencies. Because autonomous firms do not have to split their commission with a franchise, they have more latitude to negotiate and be flexible over commissions and fees. The Consumer Reports survey validates that non-franchised brokerages are competing directly with the franchises by actually lowering commissions far more often than franchise agents do.

Franchised agents typically charge between 4 and 7 percent with the national average at 6 percent for a home listing. Franchises brand themselves as offering more services than independent brokerages, and tout being listed with their extensive referral network as being worth the money. But does paying a higher commission to see your property make sense in today's Internet-driven real estate market?

The Consumer Reports survey looked at the difference in services between an agent that charges a 3 percent fee vs. a 6 percent fee. The variances they found are, overall, fairly negligible. A noticeably higher percentage of the brokers who charge the higher commission rates placed newspaper ads, but, on the other hand, a slightly higher percentage of the homes placed with agents who charge 3 percent sold within the first month. Most of these discounted brokers are, by necessity, non-franchised.

Statistics show that franchised agents don't sell more properties than non-franchised ones. The track record of the individual agent or broker you work with matters far more than the name behind them when it comes to getting results. Finding the right discount independent real estate broker can mean saving thousands on commissions and listing fees while still getting the level of service you need to quickly and effectively sell your home.

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Tips On Comparing Real Estate Brokers

Real estate brokers act primarily as intermediaries, or go-betweens between sellers and buyers of real estate and prime properties, as well finds owners who wish to sell and clients who wish to buy. Real estate agents do not work in exactly the same manner.

The most important attribute of an agent, or broker, is that he/she has deep and well-informed connections to the real estate industry. The broker is expected know the market comprehensively, and provide information on previous sales, current real estate listings, have an effective and workable marketing plan, and at least a number of solid references. It is also imperative to look for a real estate agent that is honest, assertive, and one that fully understands the needs of buyers and sellers.

Real estate brokers and their salespersons in the United States, where they are generally called real estate agents, assist home or property sellers in marketing their assets and selling it for the best possible premium price, and on the best terms.

When acting as a buyer's agent, with a signed or verbal agreement, these individuals assist buyers by helping them purchase property for the lowest possible price under the best terms, and gain a commission after a sale has been concluded. Without a signed agreement however, brokers may assist buyers in the acquisition of property but still represent the seller and the seller's interests. Here's a short comparison of what exactly differs a salesperson, from a licensed broker.

Real estate salesperson:

A person first becomes licensed to become a real estate agent whenever one obtains a real estate salesperson's license from the state in which he/she chooses to practice his craft. For the person to obtain a license, the potential candidate must take specific subjects and required course work, and then must pass a state licensure exam on real estate law and practice. Salespersons should must then be associated with, and act under the authority of a licensed real estate broker

Real estate broker:

After gaining quite a number of years of experience in real estate sales, a salesperson may decide to ramp up and be licensed as a real estate broker. For one to become a full-pledged broker, more course work and a state licensure exam on real estate law must first be passed. When a person obtains a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before, usually referred to as a broker associate or associate broker, or open up his/her own brokerage and hire other salespersons.

How should you choose a good real estate broker?

According to analysts and industry insiders, most home buyers ask friends, relatives, and business associates who have recently bought a house in the area for their recommendations and suggestions. A number of buyers use newspaper advertisements, or simply visit an established realty office.

Some people yet find an agent at an open house. To be sure you find a good agent, interview several real estate brokers from different firms to find out one you're comfortable with. It's like doing comparison shopping. Find out if the agents are familiar with the location you are interested in, how long they have worked in that area, and whether they specialize in a particular type of house or price range.

To be safe, you could try to go with a local broker. They can better serve your needs, are familiar with the local market conditions, knows what the local prices are, and what's hot or not in your community.

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What Exactly Real Estate Brokers Do

Purchasing or selling a property is indeed a big deal. Especially in India the entire realty transaction process is drowned in paper work. Since your home is so dear to you, you would definitely like to take some professional aid while purchasing or selling it. Real estate brokers are certainly the best guide for you during the time of property deal.

Who are Real Estate Brokers

We often use the terms like the realty and the real estate brokers for the same meaning. Well, there is a stark difference between the two. The brokers and the agents do the same type of work yet they differ in status. The brokers are independent business people who have the licence to sell or purchase properties for others. They may also rent or manage property in lieu of a certain amount of fee.

Who are Estate Agents

Agents work with the brokers. Since they don't have license, they work with the brokers. The agents serve the brokers either on permanent or temporary basis. The brokers in return pay them a commission earned by the agents during the property deal.

Let us have a look at the services performed by the real estate brokers.

Real Estate Brokers Services


The brokers go for a search to find authentic ownership of the properties for sale. They also arrange for meetings where the purchaser and the buyer sit together and agree to the transaction details.
They also act as intermediaries between the buyers and sellers during the negotiation of the price range.
They also can take part in the significant role of arranging money from lenders for prospective purchasers.
They may also take up the task of listing and initiating agreements for owners interested in selling their property.

Broker earns double commission if they have managed to sell a property that they themselves have listed.
With the help of a broker you would be able to easily sell or purchase property with best deal possible. Select the right broker after considering his years of experience in the relevant field. Above all try to note how honest is he to you. Clear visibility of the transaction throughout would help you to get a clear idea of the entire work procedure leading to development of mutual trust.

Addi Sharma is a well known author and has been writing content for iTrust Financial Advisors. iTrust is a leading personal finance portal in India providing excellent services in financial planning, real estate India including Noida real estate