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Choosing a real estate broker is a key element in a successful real estate transaction. The largest single financial transaction that a family makes is often the purchase or sale of the family home. The importance of that real estate transaction cannot be minimized. The assistance of a competent real estate broker can go a long way towards making this most significant purchase a smooth and happy one. Deciding how to proceed when you decide to buy or sell real property should be a result of careful consideration.
Choosing a real estate broker is a subjective process. Certain criteria should be established in your search for a broker to assist you in achieving your goals for any real estate transaction. Consider your own real estate knowledge and experience and what type of transaction (raw ground, condominium, time share interest, etc.) you contemplate when deciding which real estate broker can best serve your needs. For instance, your own lack of practical experience can be offset by a broker’s specialized experience in certain types of transactions. If you have experience in single family home purchases, you might be comfortable with a broker with general residential knowledge and experience rather than a specialization.
It is good practice to interview more than one broker when you do not have the advantage of a successful track record with a broker or when a different or more complex type of transaction is intended. Friends and neighbors are a good starting point for recommendations both pro and con for individual licensees. One good or bad report on a licensee is only the first step in sizing up potential brokerage assistance. You should follow up with more opinions whenever possible.
Always remember that brokerage fees are negotiable between you and the licensee!
Check to see if a broker is licensed and whether or not there is a record of discipline.
Information on whether or not a company or an individual is licensed, as well as information on whether or not a disciplinary record is available, can be obtained by using the Division of Real Estate website