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Indian Real Estate News : Ludhiana
Choosing a good real estate agent who fits your luxury
Source: The Times of India Jul 23, 2014
There are several independent ways of getting a good buyer (or seller) but a good real estate agent is a professional whose expertise can add extra value to your search.

"A good real estate agent or consultant is a professional, someone who has been in the realty business for long and knows the ins-and-outs of identifying the best property for your price," says Arindham Chaturvedi, a software professional, who returned to Bangalore after a gap of over a decade. "We had a pretty non-negotiable list of requirements when it came to buying a home and our consultant was able to meet almost 70 per cent of them. There is no way we could have found our dream home had it not been for him."

So what is the advantage that this professional brings in?

"A good realtor, especially in the luxury category, will first understand your requirements and then get back to you with a variety of choices that fit those needs," says Vidyut Prabjot, CEO, Luxra Property Consultants. "This may take time but when the client/family visits the targeted properties, it makes it really worth their while."

How do you select a good agent who can get you the right home for the set budget?

Choose the broker and not the quoted price. "Clients often choose agents based on the prices quoted," says Krishnappa Arjun Kamath, proprietor, Anirudha Realties Consultant. This is a basic mistake that both sellers and buyers make. "You do not select a boutique depending on the price range, but on the quality of the dresses displayed, when it comes to clothes. Similarly, when selecting an agent to buy or sell a residence, which is clearly a more expensive venture, it is the quality of service and options that an agent can provide that should be high on the priority list," says Prabjot.

Choosing an agent merely based on the highest/lowest price is not realistic.

"The first quoted price is not always the best as rarely does a deal close at the same rate that was quoted initially," says Kamath. "Too many properties languish for too long in the market merely because some agent has been overly aggressive in pricing."

Comparable sales and a thorough understanding of current market trends in the set segment are the best guidelines to arrive at the best price.

Network vs experience
Personal recommendations are the best agents to check out first. "A friend who has had a good experience with an agent is one of the best reasons why you should checkout his service," says Kamath. "Relying on family connections simply to save on a small percentage spent on the commission can not be a smart move in the long run."

Other points to gauge include:
How familiar is the agent with the neighbourhood and the lifestyle you are looking for.
Is the property segment you are targeting, within the specialization of the agent?
Does he have the ability to listen to what you want.

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