How to deal with the tricks real estate brokers play
Real estate brokers have a shady image in the perceptions of many property buyers. Due to unscrupulous activities and unethical behaviors many buyers have faced from real estate brokers at different places, the buyers often face a torrid time with their property. However, you can save yourself the ordeal by shooting down the common tricks they play during negotiations with these tips. Below are few tips suggested by experts at sulekha properties to deal with real estate brokers, so as to make best advantage from your real estate investments.
- Don’t walk into the Advance money trap
Identify the practices of the real estate broker when it comes to paying up advance fee. Real estate brokers in mumbai ask for up-front money to secure the deal. Common practice is to pay the fee after the closure of the sale and all the services including the promotions are complete.
- Ask for full disclosures on the property
Some brokers in Metro cities across India make a hefty profit by selectively disclosing the information about the listed property. A young buyer may think of the property as a great investment but the history of the house is known only to the broker and the seller. Ensure that the broker is making full disclosure on the property ownership details, Title Deeds, clearance, age of the building and even haunting.
- Ask the neighbors
Do your homework and ask the residents in the neighborhood. In a city like Mumbai, there are many ‘secrets’ that the neighbors can throw a hint about. From water supply to the security levels, brokers in Mumbai often take the easy route and prefer to be “Wall of Silence” on these issues.
- Check out double ending
Brokers work in team, and in hierarchies. Real estate brokers in Mumbai conceal the price of the property in order to gain and share the commissions with the present seller or brokerage agency. Ensure that there is no double ending on the property to avoid additional fee on the unit.
Online real estate marketplaces are replacing traditional brokerage firms. Making use of technology, online real estate portals today are making your property search convenient. Buyers can search for properties anywhere in India by sitting at the comforts of their home or office. They can shortlist their searches based on preferences in budget, location, amenities and many other factors.