8 Vital Tips for Real Estate Agents and Property Brokers
As a realtor, you need to know vital tips for real estate agents that will help you succeed in the industry by selling genuine properties. Selling a clean or genuine property is more important than merely showing a property for sale to the buyer. To know and to show a property for sale or rent to the prospective customer is lighter than the authenticity of the asset itself.
8 Tips on How to Succeed as a Real Estate Agent:-
1. As a broker, get involved in the due diligence process. Your commission should come at a fee. Spare time and investigate a property after realizing that a buyer is getting serious with it.
2. Advise your buyer that he/she should involve you in the due diligence process so that you have an in put rather than relying on his lawyer whose report is at times not concrete. This is because, when a property transaction goes bad, a Broker is among those arrested for connivance in the fraud even when he may be innocent. Move with the buyer throughout the process and show him that you care about the safety of his money.
3. Do not be so much desperate for commission. Tell your buyer that you would not be responsible for any liabilities in case he doesn’t involve you in the property authentication process, as you advice can avert a possible fraud if sensed.
4. Spare time and learn the property purchase process and how a full due diligence is done beyond a mere Search Report from the land registry. A knowledgeable Broker can save millions of an ignorant buyer from loss.
5. In any transaction, you can work with fellow agents but always strive to know the seller. You may over trust agents who are either ignorant or have ill intentions of conning and you end up a victim of arrest.
6. Desist from a deal that’s too good to be true. Some of those deals are the most expensive in a long run.
7. On a seemingly nice deal, urgency and intellect should be applied concurrently.
8. Where necessary, take images of your sellers, buyers plus brokers involved in the transaction because you might need their facial identities at some point when things go bad. Ensure the phone camera has no flash so that they are not aware.
These tips are coming at a time when cases of property fraud are increasing in Uganda and brokers are falling victims of imprisonment. But some are ignorant whereas others are conscious of the frauds. Get warned and move with your eyes open. Every person you meet, think of of fraud until everything moves on well. A failed property sale where you earn nothing is far better than a successful fraudulent transaction where you earn commission but end up in detention. When every realtor takes these Vital Tips for Real Estate Agents serious, the property industry will be got rid of fraudsters.
Also read about how to protect your property against trespass and fraudulent activities on it.