We have put together a checklist that helps to identify a competent broker.
Professional real estate agents know their market. They provide information about prices, rents and market developments. They are available in advance with expertise in the valuation of the property. Furthermore, they know the supply and demand of the respective real estate segment and provide buyers and sellers with transparent information about the real estate business.
Competent brokers have extensive training and many years of practical experience. Every professional broker WILL therefore be able to show references from his previous activities – i.e. be able to refer to successfully brokered properties and satisfied customers. In order to find out how the broker’s previous customers rate his services, the new customer can obtain their addresses and inquire with them.
Advice Without Time Pressure
A reputable broker is willing to take his time with his customers and not just fob them off with a few addresses. He WILL never work towards concluding a contract under time pressure but allow the customer to examine the offer in detail. An alarm signal for customers are claims by the broker that the right buyer or seller is already on the file and that the successful sale is only a matter of form. A reputable broker will not object to the fluctuation limit of external help, for example an expert or lawyer. In addition, he will never transfer property without an appointment for a viewing.
A professional broker talks intensively with the customer about his personal wishes and needs as well as his economic situation before he makes a first suggestion. He will take all objections of the customer seriously and warn him of risks. Under no circumstances will he demand advance payments.
Reputable brokers know the fair market price for a property and can also justify it. They warn customers not to offer their house or property too expensively. Because when customers advertise their property at an unrealistically high price, it quickly becomes a slow seller. In order to be able to sell the property at all later on, the price often has to be lowered well below what could realistically have been asked at the beginning.
A reputable real estate agent is an advisor who does not pretend to anyone that a purchase or sale wish can be fulfilled quickly and easily. He will examine in detail where any problems exist or could arise and will help to solve them. In the case of condominiums, for example, complicated facts are sometimes hidden in declarations of division or special usage rights.
If you want to sell or buy a property, you should have a precise description of how the agent intends to proceed and what activities he is planning in detail. A good broker is able to give an accurate picture of the state of the market. He will clearly state his task, the possible periods of time for the completion of all formalities and the expected effort.