George’s notes: this article was first published in the (new defunct) Delaware Property Times back in July 1984. If you would like a series of scanned articles from that periodical, email me at email@example.com and I will send you a link to the zipped folder on Dropbox.
Since buying a house involves a huge investment in terms of finances, it would be a good idea for you to hire a reliable real estate agent who can make sure that you get your property transactions done in a completely hassle-free manner.
Real estate agents happen to play a very important role in various kinds of property dealings. For starters, these experts work as middlemen between sellers and buyers, and help with every stage of the process. Other than that, they play a vital role in the world of real estate since they are the ones who introduce potential tenants and buyers to the property owners to begin with. This, of course, is not limited to real estate deals in Delaware only.
The majority of the services that real estate agents offer are done in exchange of commissions that are based on a percentage of the overall sale amount or rental fee – typically 2% here in Malaysia. (Note that this is on top of the legal and administrative fees – see here). A lot of the time, service charges are paid after the completion of a property transaction, as well. If you need help choosing a reliable real estate agent, then here are several traits that you should look for:
Good real estate agents should know how to evaluate the client’s requirements and budget, as well as analyze the property’s potential value in the future. Aside from that, they should give relevant suggestions that will help both investors and property owners in the long run, as well. I have personally met with one-size-fits-all kind of realtor – very prevalent here in Malaysia. Some brokers claim to be experts in properties around the Kuala Lumpur City Center for example, but when asked about specific developments here (OneKL, Park Seven, Marc Residence – where I am living now, or St Regis), they often struggle to come up with good answers.
Good agents should know everything there is to know about buying properties, selling properties and everything else regarding the real estate market, in general. They should know what the different kinds of properties are like, for example, and should be in the know when it comes to the latest trends in value in certain areas. If you want to engage with a real estate broker who claims to specialize in Malaysia properties for example, then make sure he knows about all the hot spots in the Klang Valley area, especially Mont Kiara, KLCC, Bangsar, Segambut, Puchong or Petaling Jaya. Nowadays, it’s quite easy to be aware of new real estate developments with the emergence of online property portals. In Malaysia, for example, MetroSherpa.com is a neat tool you can use when searching for real estate in boom areas in Malaysia.
- Proper Knowledge on Real Estate Laws
Experienced real estate agents should be able to help you out if you need any help regarding local property laws, regulations and rules related to buying and selling properties. If any problems arise, they should also have the ability to help you deal with them, while taking care of any other obligatory procedures and documents needed at the same time. That’s why I took the effort to read up on real estate laws when I was actively practicing in order to protect my clients. Now I am here in Malaysia, I frequently go to this site to learn about Malaysia property law.
Naturally, you will want to make sure that you get along well with your real estate agent of choice, too. To ensure that you do, make it a point to choose one who respects you, understands you, has faith in you and has all of the aforementioned skills to boot.
Aside from that, professional real estate agents should work hard to stay on good terms with you, help you reach your goals through their services, and still stay in touch with you even after your deal is over. If you can find all of these traits in a real estate agent, then you shouldn’t have any trouble closing a deal anymore. I still stay in touch with my previous clients, and they frequently solicit my opinion about property investments (in Malaysia where I am now based).
In A Nutshell…
Generally speaking, when choosing a competent and reliable real estate agent, you should also make sure that they have a good reputation, great communication skills and excellent negotiation abilities. As such, you have to make it a point to set some time aside to do proper research, so you can find a trusted agent that can help you out significantly in the long run.