PH Real Estate - What You Should Look for in a Broker

Buying real estate properties is no joke. You can lose money and investments by a flick of a finger. Therefore, it’s crucial that you should select the best broker in town. How can you do that?

Let’s start with an exercise. I’ll give you 3 personality traits of brokers and you select the best one for you. Obviously, your choice may not agree with mine but that can be debated on and discussed. I will discuss mine and you can either agree or disagree.

Let’s assume that you live in a big town – but not a city. So, you may know majority of the people in your community.

 

Here are the 3 choices of brokers you can choose from:
Broker #1
He’s 35, single, handsome and accommodating. He appears to be friendly and entertaining (he sings and dances too). You have heard some of his co-workers joke about how he was a constant patron at the nearby casino. At times, you have seen him being sweet to various women. He has been with the company for 10 years now.

Broker #2
She’s 28, married, with one child. She’s pretty and charming. She has a winsome smile for all her clients. Her husband works at the local supermarket. They are often seen going to church together. She has been with the company for 6 years.

Broker #3
He’s 50 years old, witty and hardworking. His children are all married now and he lives alone in his luxurious apartment. He prefers to stay home and read books. He rarely socializes, but is ready to help any time his neighbors ask for his assistance. He has been with the company for 25 years. Among the 3 brokers, who would you choose?

Of course, it’s unfair to judge them solely from these descriptions but let’s assume, at face value, that these are the characteristics that you have to choose from. For me, I would choose broker #3. Why? Because he has the longest years of service. This indicates that he have more experience than the other two, and thus, is more reliable. He appears dedicated to help others too. Hence, he would be willing to help his buyer in purchasing his dream house.

Furthermore, broker #1 may be addicted to gambling and women. The gambling may be hearsay, but since you have witnessed him with women in romantic moods, it could be justified to say he’s playing the field. As for broker #2, she seems capable too. She lives commendably and is, apparently, happy with her family. If broker #3 is not there, I would choose her.

Did my choice match yours? If not, then we may have focused on a different trait. I have focused on the years of service because we’re talking about competency in their work as brokers. The other traits, such as good looks can be considered but they are not the most important.

Anyway, you have chosen the broker that’s suitable for you, and that’s what’s important. To help you more in this task, here’s a compilation of the traits that you should look for in a broker.

What you should look for in a broker

Broker’s license
This is the first aspect that you must look for when choosing a broker. Is the broker legitimate and licensed to perform the job? You have to ask for his credentials. You can also go online and research if his name is included in the roster of licensed brokers.

Referred brokers are the best because they have a vote of confidence by their previous clients. You can ask your family and friends if they happen to know a reliable broker.

Years of experience
How many years did the person work as a broker? It’s believed that a person with more experience is better than one without experience. Albeit this is not always true, nevertheless, it can be a significant criterion that you can use in choosing your broker.

Integrity
Is the broker honest, sincere, reliable and efficient in his transactions? You can surf online and read reviews from his previous clients. Customers’ reviews are often used to determine a person’s integrity, competency and reliability.

The reviews must be 80% and above, or 4 stars. If the average of the reviews is lower than that, it means the broker is not efficient.

Availability
The availability of the broker is important, as well. You will have to tour the property a few times and if he isn’t available during your free time, then that would be incompetence on his part. He should make it a point that when you’re available, he’s available too. If the broker cannot escort you personally, another competent staff must be ready to take his place. Don’t do business with a broker who doesn’t respect your time.

Support staff
He must have support staff members who are friendly and accommodating. You may have numerous questions that you want answered, and it would be great to have someone to answer your questions promptly and attend to your calls.

Types of clients
What types of clients does the broker have? You can determine if the broker is the right fit for you by learning about this information. Look for a broker who has been dealing with the type of service that you require.

In relation to this, you can inquire how many clients the broker attends to. If there are too many clients, he wouldn’t be able to focus on you. Opt for a broker, who has fewer clients to attend to. It would be superb if he could deal with you alone.

Rapport
Do you have rapport with the broker? This is a vital aspect to consider too because you couldn’t work well with a person whom you dislike. Search for a broker that you can easily talk to and get along with.

Wouldn’t it be stressful to deal with a person you dislike when buying a house. Thus, select a broker whom you can share a joke or two, or someone who can understand your concerns, and your expectations.

Conclusion
Use the list above to choose a broker that suits your preferences. It’s you who would be working with him, so it’s your right to do so.

The two important things to consider when selecting a broker are: the broker must be licensed, and he must be honest. Good luck on your real estate journey. Ciao!

Tags:    Important Points While Looking For a Broker