When you think of buying a new house or apartment, you usually need help from a person who knows fully how the process of buying and selling a property. It is precisely there comes into play the figure of the real estate agent.

A real estate broker is an individual or institution that organizes transactions between a buyer and a seller for a commission when the transaction is executed. That is, it is the agent acting as a broker or intermediary between a buyer and a seller, usually charging a commission and becoming director of the agreement. Besides this, is responsible for advising and counseling on issues related to the business.

Now, how do you know if the real estate agent that you chose is good or not? In this guide, you will get five tips for choosing the right person.

Real Estate Brokers – Gogetit Highlights

* A real estate broker is used mainly when you are planning to sell or rent your property. Working with them is completely optional, but definitely facilitates the process of buying and selling.

* To choose a good broker, you should consider certain factors or very important aspects.

* Find a good real estate agent is not so easy. It is recommended that you consider critically whether the person is the right person for the job because they do not want to lose money because someone does not know how to manage your property.

Why do you need real estate agent? Working with agents of real estate professionals, can save you a lot of headaches by having an agent interfacing between the user and the buyer or tenant (for example, you don’t have to be the one to receive calls from interested buyers or tenants, or inspection organization, etc.).

Therefore, you may want to consider working with a real estate agent to help you navigate the process and eventually find a buyer or tenant for your property.

Here are five things you must consider before hiring an agent:

1. Local Experience

Local experience is key because the real estate markets change from one city to another with differences, even within the city or in the slums on the outskirts. So, you have to know the area covering the real estate broker to determine if you have local knowledge of the property market, where your property.

One way to do this is by contacting an agent and ask what areas before covering without revealing where your property is.

An additional advantage of working with an agent who has local knowledge of an area, is that they have the most informed opinion about the true monetary value of your property, and can help avoid a situation in which your property is sold below its real price or its opposite extreme: staying too long in the market without a buyer because its price is above the value of similar properties in the area.

2. Years in Business

We recommend you work only with real estate professionals. It will be more professional, but you may be charged a higher rate. Asked how long the agent has been actively selling or renting properties. The more experience, the better. Specifically, you need a broker who is experienced in the sale or rental of properties in the area where your property is located.

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3. Read comments or recommendations

If a real estate broker has experience, he or she will have customers who have served in the past. Ask the agent you want to see the comments or recommendations from previous customers. Similarly, you want to know what the selling price of the property each time and each property was on the market before it was sold.

4. Test Agent

A professional agent will be aware of most (if not all) of the available properties within the area he or she covers. It is normal that operators know about other properties that are available in your area. You can try the local experience of the agent conversation on a property that recently sold, and thus know what is in the same area as their property. If the agent recognizes the property and you can give a few details, then you can safely assume that the broker knows your area.

5. Fees Breakdown

Live agents commission which is a percentage of the price of a property when it is sold or rented. That is, they make money only when they are able to sell or rent a property. And you must talk about this from the beginning with the broker. Ask your agent to give you a breakdown of what he or she will charge you to close. If you think there is a great demand for your type of property, you will have some bargaining power to negotiate reduced commission. However, you have to be careful not to negotiate too much, so it is recommended the broker for optimal results. If an agent charges below normal commission rate, it may be an indicator of a possible negotiation of poor quality of the agent.

Take a look at the top 10 ranking of most influential real estate brokers, based on an analysis made by Gogetit.

Interested in Panama Real Estate? We invite you to visit www.gogetit.com.pa, the fastest, most reliable and social way to find your property in Panama.

Silvia Merida Pellicer
Gogetit Content Manager. Author of important reviews for Gogetit News, “The #1 Source for real estate news in Panama.”
Specialized in the search and analysis of the most important news about real estate in Panama.

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