A guide for investors on what you should look for when selecting a Real Estate Agent.
Selecting the right real estate agent can be an invaluable resource for any investor. They act as your eyes and ears to ensure you don’t miss out on the latest opportunities, and they do the hard work behind the scenes so you don’t have to. There are several key traits you should look for when selecting an agent. Many agents claim to work hard but struggle to work smart. Your agent should have expert knowledge of the market, along with a set of skills, which will be highlighted in the following blog article.
Knowledge is Power
The major difference between a good real estate agent and a great one will be their ability not just to put an opportunity in front of you, but to have the knowledge to explain why you should consider the investment. A prime example of this is having good insight into the area where the property is located. A real estate broker should be able to present a strong investment case.
- Capital and rental appreciation potential
- Up-to-date rental and sales valuations
- Current and Future Residential Projects
- Future Resale Potential
- Local development projects which will impact the value of the property
Having this information can help determine the success of your investment, if your agent can give you a good overview, they have made the extra effort in their due diligence which is always a positive sign.
Honesty goes a Long Way
A major factor when selecting an agent to work with is identifying if they have your best interests at heart. The opportunity presented to you has to work in your best interests, and no agent should try to persuade you into making a deal you’re not 100% comfortable with. Taking the time to discuss your investment goals should be the number one priority. An experienced agent will listen carefully to your needs, so they can identify the right path to go down. By having this open discussion first, you are unlikely to be offered deals that do not match your requirements. If property investment agents immediately start discussing projects and prices without taking this first step, they’re putting their welfare over yours. In some cases, you may have an investment in mind that could turn out to be unsuitable for you in the long term. Instead of proceeding with the deal, a credible consultant will highlight the potential pitfalls. They may even be able to find you a similar yet more stable investment opportunity, ensuring your finances are better cared for.
It is important to consider the experience your real estate agent has. Asking them about their experience and track record might sound a little intrusive, but this information will help set them apart from the rest. You want to know when you invest, you are in safe hands. Many agents can sell you a property; that’s the easy part, but finding an agent who will stay around and provide you with extra customer service is not as easy to find. Agents should be able to confidently talk about previous developments they have sold, and highlight how they helped clients in the past. If they have done a good job, they should already have several repeat buyers, who will be happy to share testimonials. If they are unable to provide you with the basics, then you must question if they are the right match for you. If you’re considering investing, you want some reassurance on who you are working with. Knowledge and customer service can only go so far, and it’s the experience factor the agent brings to the table that ensures you invest in the most profitable properties.
Network & Connections
An agent’s connections and network goes a long way in this industry. If an agent is well connected, they are more likely to be up to date with the latest developments in the market, sometimes even before they come to market. Having the inside knowledge before the rest, can put you ahead and in many cases allow you to secure the best deals. It is also important, that an agent is proactive and not reactive. They should be able to give you up-to-date industry news, knowing where the latest emerging hotspots are and any market changes. Go with your instincts; they are normally right. If you feel comfortable and confident your agent will go the extra mile, then there is no reason not to work together.
If you are considering purchasing in the Dubai property market, Knight Knox is a highly trained team of experienced property professionals. We have a consultative approach to the market and have established a market-leading property service, covering every stage of the process. With our experienced team, we have access to some of the very best property deals, creating portfolios for clients around the world. Speak to a member of the team today to start your venture into the thriving Dubai Real Estate world. We specialise in helping investors find success in Dubai and we have many new exciting opportunities to discuss with you. For more information on the market, make sure to read the articles available now on Knight Knox blog page and be sure to follow us on all our social media channels.