What do you suggest is the best medium to buy a property – through a realtor, a developer or an individual?

It depends on the property you are buying and who offers it to you. In case the seller is a realtor, it is best to buy through him after doing a background check on his reputation because he would know what legal checks must be made by you before putting the money on the table. In case a seller is an individual he must hire the services of a good lawyer to do a due diligence on title, etc before you write that cheque. This money spent on due diligence may pinch today and seem unnecessary but in the long run you will realize that this is a wise decision.

Where to search for a broker?

Numerous real estate agencies are listed in the phonebook and on the Internet. Do not pick one randomly. Look for an agent in the area where you are planning to invest.

How to choose a broker?

Besides simplifying your home search, your real estate agent will help market your property, therefore, evaluate the proposals that you get and choose the most profitable one. Also, use caution while you choose.

• Find out as much as possible about the agent before hiring his services. Ask for references. Also, ask family and friends to recommend real estate agents they have worked with.
• Check if the agent is licensed and can work full-time on your real estate needs.
• Ensure that all agreements between your agent and you are in writing.
• Do not pay money upfront to your real estate agent. This could be a loss to you if you don’t buy or sell a property with this agent.

How much brokerage should an authentic broker charge?

If you are planning to buy property from a broker, then you have to pay 0.5 to 2 per cent of the deal value. In lease transactions, the brokerage value is one month’s rental or 8.33 per cent of the deal.