Gynelle Alves

When it comes to buying stocks at the stock exchange, people resort to using brokers, yet when it comes to buying a house, some are hesitant to take on the services of a real estate agent. While there are a few bad apples in every profession, more often than not, a real estate broker is there to help you make a well-informed decision that is best for you. Here are the top 10 reasons why you should hire a broker:

* Large database: If you had time at your disposal, it would perhaps be possible for you to go through the classifieds looking for homes that are listed for sale. Even if you did, chances are that you still won't be able to come across as many properties that a real estate broker has on his roster. Besides, many homes never really appear in the 'open' market and are sold through brokers.

When it comes to a variety of homes in different areas, suiting your budget and meeting your specifications, a broker will have more for you to choose from and save you the time and effort of a possibly fruitless search.

* Access to the property: Very often homes that are for sale are locked up with the keys placed at the broker's disposal. Even in the case when the seller is residing in the home, it is easier to get an appointment through a broker who will allow you complete access to the house for viewing and inspection at a time convenient to you.

Gynelle Alves

* In-depth knowledge: This is the case with every profession, a person who is qualified and pursues it for a living knows his subject matter totally. Good real estate brokers are fully conversant with the market, they are aware of any changes in laws and taxation policies and are better able to guide you when it comes to the nitty-gritty of such transactions.

* Highlights of the area: Ask a broker questions about the area you are considering and chances are he will be able to give you a complete low down on the grocery markets, malls, schools, medical facilities and communication routes in the area.

* Clear your doubts: Your agent will know whether a certain property you like is clear of any claims or not.
Make sure you question the broker about the title and conveyance deed before you make the final purchase. S/He will know if there are any litigations going on over the property. But be sure you consult an advocate before you buy any type of property.

* Assistance with loans: Along with having a list of properties for sale, real estate brokers also have tie-ups with institutions who can offer home loans. They can help you decide which loan best meets your needs.
You can also approach your broker to help you get a pre-approval estimate, which will form the basis of your budget.

* Help with negotiations: When you have finally decided on your dream home, the final negotiations can be tricky. This is when the broker's expertise can come into play to ensure a smooth transition of the deal.
At such times, it would also not be amiss to hire a lawyer to go through the agreement and read the fine print!

* Recommend other professionals: Very often when you are purchasing a previously owned property or even a new home, some changes in the interiors may be in order. You may want your bathrooms and kitchen refurbished. In such instances too, the brokers have contacts with other interior decor and civil work professionals, which saves you a lot of trouble.
A word of caution though, the broker may get kickbacks from those he recommends, so beware!

* Resale value of the property: If you wish to ride the real estate wave and buy property as an investment, then it's best to consult with a broker regarding the future prospects of an area. With their knowledge and experience of the markets and development plans for the areas they have on their rosters, they are best suited to guide you.

* The seller's friend: For a home seller, the broker can become your new best friend. They will advertise and list your property, advise you on the perfect pricing for your home, organise and co-ordinate viewing and inspection sessions for buyers and help you with the final negotiations.
It essentially goes to prove that by asking for a two per cent fee of the final transaction, the real estate broker is taking a load off your head.

Get the best from your broker
If you find a broker you trust and are comfortable with, that's half the battle won. Just use the following tips to get the best from your broker:
* Make a list of all your requirements and present it to the broker who can then shortlist properties as per your specifications
* Insist on a detailed property inspection. If the broker can provide a professional structural report of the premises, even better
* Ask as many questions about the property and the area as possible
* Avoid choosing a broker who also represents the seller as this could result in a clash of interest
* Never reveal to a broker how high you are willing to go to purchase a property

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