Real Estate Agents – How to Deal With Them

A real estate agent is a ’salesman’, who has to help you buy/ sell a house and who earns a commission for the same. One thing you have to understand is that it is the commission and only the commission that the agent is interested in. So, learn how to deal with them:

i.    Never tell your agent that you are in a hurry to buy/sell the house.

ii.   Spend time choosing your agent.

iii.  You can and you should choose at least 5- 6 real estate agents.

iv.   You don’t have to pay them anything till they help you clinch a deal. So, don’t pay out any advances/up front money.

v.   Don’t sign any contracts with your real estate agents.

vi.   Speak to your friends or relatives and ask them to refer you to their preferred real estate agent.

vii.  Never believe anything your agent tells you. You have to check it yourself.

Let me give you an example. Recently, I was looking at a resale property at Malad East, Mumbai, and I discovered the plaster on the walls were peeling. I pointed it out to the agent and asked him, if there is water leakage in the walls of the building?

The real estate agent laughed it off saying, “It is only a two year building and I can assure you there is no such problem here…”

In a few minutes, me, my husband and the agent got into the lift to leave, while I noticed another lady in the lift with us. Here is how our conversation went:

Me: Hi.

Lady : Hi.

Me: Do you live here?

Lady: I used to. Not anymore though.

Me: Sold your house?

Lady: Yes. Thankfully!

Me: Why? What happened?

Lady: The building leaks so badly. It is a nightmare!

Me: Nodded the head sympathetically at the lady and glared at the agent.

The Agent gave a sheepish grin!

So, having an agent only helps you to locate the house easily. But, checking upon the house rests only on you. You can never – ever – blame your agent if something goes wrong!

Do you have any disastrous stories like this to share with the readers?

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