Spot the Fraud Real Estate Agent

Dubious real estate agents are mushrooming all over the country and tarnishing the image of real estate professionals who operate with honesty. Instead of calling them all crooked, one needs to identify the genuine, verified players. The task becomes easier if you identify the fraudulent property agents and their scheming ways.

Take undue advantage over the client,decamp with his deposit money,furnish incorrect facts or omit the truth to swing the decision-making process. Manipulate prices to derive excessive profit. A fraudulent agent is prone to indulge in all these.

As clients tend to blindly trust the words of the agent, they never cross-check. When the unfortunate incident occurs, they begin to regret. Watch out for the common symptoms that raise suspicion regarding agents trying to dupe clients.

Fake documents, double mortgage chances, a general power of attorney used to sell to different persons, government land, encroachments, and dubious agreements, are some common ways of cheating clients. Verify each and every aspect and take an informed decision.

Persuasive pitch

Brokers depend on persuasion. They cite an increase in the value of other properties in the locality to create a fear of price rise. They want you to panic and take a quick decision. If your real estate agent adopts this strategy, you have a valid reason to suspect his motive.

If the agent prefers upcoming projects, remember it is mere speculation. Maybe the builder has not even registered the land where he is supposed to construct.

You can get an estimate of prices from property portals and newspaper listings. Contact multiple top-rated brokers or approach a person who has recently purchased a similar property in the locality and seek valuable information before you believe the agent.

Quality check

Real estate agents never disclose the quality of construction. Two similar properties in a locality are in the same price range but one project offers better construction quality and amenities. Visit the site to check the tall claims made by the property agent. Consider yourself lucky that the fraud real estate agent has been exposed at the right time if you find he has hyped it for you.

Distance sale

The dependence on the property agent is higher when buyers and sellers live in different geographic locations and they rely on the intermediary. Deals are closed on the basis of what the agent insists, as the parties do not get to meet in person. It is better to insist on meeting the other party before finalising the deal. If the agent wants to close the deal without the buyer and the seller getting to know each other, something is fishy in the case.

Transparent fees

Real estate agents get a commission based on the value of the deal. You should ask the fee the agent is getting from the other party. If you do not get a clear answer, take it as a warning signal. If he tries to avoid this query, you should become alert. A real estate agent should have no hesitation to answer this clearly as it generates mutual trust. When he knows the real value of the deal, he should reveal the commission he is getting from it.

Online ads

Real estate websites carry misleading listings by agents. Agents often use wrong photos, false specifications, and low prices to grab attention and generate leads. When buyers contact the agent, they are informed that the listed property is unavailable and they can choose from other properties.

Key information

In case your real estate agent is not making full disclosures or not quoting the best price, it is safer to get rid of him. There should be no nasty surprises reserved for the final stage.

Brokers are indispensable in the real estate sector. But you have to be on your guard all the time. He should give a realistic assessment of the market using best professional judgment and ensure that the clients do not suffer any loss on account of their neglect.

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Choosing A Property Manager – Laying A Foundation For Success

Passive income… the ideal of those wishing to supplement their income, and, the cash cow for retirement age people. If only it were easy! One of the prime ways that people try to achieve it is through buying a rental property. However, success or failure can often be the product of one factor, the property manager who is tasked with caring for the nest egg.

So, the question is: How can we ensure that our choice of property manager will address all of our concerns?

Choosing A Property Manager – What To Look For?

No tower is built without a strong foundation, nothing is more true. The same principle applies to hiring a property manager. But, how can we do the due diligence to ensure success?

Whilst there are myriads of factors, 5 essential points must be addressed, and they are:

Point 1 – Don’t maintain the status quo: Perhaps our feeling is that we won’t rock the boat or complicate things, maybe asking the real estate agent if he will also manage the property. However, does an expert in real estate sales qualify someone to care in an ongoing basis, the property that we have bought? Probably not!
Point 2 – Help Them Reach Their Potential: When someone is aware that others in the same industry may be considered, they generally will strive to close the deal by offering incentives. Let the prospective property manager that they are only one of your options, and ask them what they can offer that is superior to their peers.
Point 3 – Due Diligence. People involved with real estate are generally good sales people. NO! I hear you cry… however, it is true. If you base your choice of property manager based upon the sales pitch, disaster could follow. Instead, why not ask for, and check references from others who have used the agent?
Point 4 – The Art of The Deal. Generally, the first position is not always the same as the bottom line. What this means is that you need to push the agent for more concessions, you may be surprised at what a little pressure can get you!
Point 5 – Rental Property Inspections: Don’t make the mistake that we did. We hired a property manager who never inspected the property whilst the tenants were there. As a result, our property was often left with rubbish piled high to the ceiling. How we regret not hiring a property manager who scheduled regular rental property inspections. So, ask the property manager how often they intend to inspect the property and what bond, or deposit they will take from prospective tenants.

Choosing A Property Manager – The Foundation of Success

It might be our tendency to think that the first professional that we meet will know more than us, and, therefore, we will bow to their superior intellect. However, knowledge is not always success. When we are choosing a property manager for our property, due diligence is an absolute must! The foundation of success is knowing WHAT to look for and how to determine whether those standards are met.

The questions listed above are a solid foundation when choosing a professional, although they are not necessarily the exhaustive list of possible options. However, one thing is for sure, asking these questions may well help you sleep better at night, and ensure that you have a rental property that will lay golden eggs for you for many years to come.

Finding Your Ideal Real Estate AGENT

In many areas of the country, those seeking to, either purchase a house, or sell their home, have a wide selection of real estate agents, to choose from. Either fortunately, or not, there is no such thing, as, the perfect agent, for all, or a, one – size – fits – all, approach. Rather, every potential buyer, as well as homeowner, should diligently, examine the possibilities, as well as his personal needs, priorities, goals, etc, and interview potential agents, in order to select and choose, the one, who’s best for you! Since, for most people, their house, represents their single – biggest, financial asset, doesn’t it make sense, to do everything possible, to identify, and select, the right AGENT, for you? With that in mind, this article will attempt to briefly, consider, identify, discuss, and review, using the mnemonic approach, some of these necessities.

1. Attitude; aptitude; articulate; attention: Begin by speaking to, and interviewing, potential agents, and prioritize, the attitude of these individuals! When a positive, can – do, attitude, is combined with a well – developed, relevant, up – to – date, skill – set, and aptitude, and an individual, is able to articulate, in a compelling, motivating, inspiring manner, and maintains his attention, and focus on his clients, you are honing – in, on the best choice, for you!

2. Goals; generate goodwill: Agents must be able to get along, well, with both, their clients, as well as the agents and customers/ clients of other agents, etc. When one shares your goals, and consistently, generates goodwill, you will be better served, and represented!

3. Empathy; energy; excellence; endurance: You need representation by someone, with the utmost degree of genuine empathy, which can only be achieved, when an agent, effectively listens, to your needs and priorities. This enhances his positive energy, and the potential for quality and excellence! However, since there are often, so many variables, and obstacles, from start to finish, examine and select someone, with meaningful endurance, to persist, and prevail!

4. Needs; nuances; neighborhood: Will the specific individual focus on you, and your specific needs, using the set of nuances, needed, to get the desired results? Be certain, your agent possesses local knowledge, and knows, much about your specific neighborhood, etc!

5. Timely; trends: Marketing real estate has evolved, from the days of simply listing a house, and advertising, in the newspaper, etc. Seek an agent, who is aware and prepared for current trends, and will avoid procrastinating, understanding making a deal, often requires timely action!

Buyers and sellers are best served, when they choose, the best AGENT, for them, and their specific needs, and situation! An educated customer/ client, achieves the finest possibilities!