Let’s keep it simple and make a list of things that have been said over the years about brokers – what to look for in a broker:
- Get a broker with a verified license – While not an assurance of professionalism, it’s still a better first indicator of a right broker.
- Better if they are part of an office – It makes it easier to report misconduct, and there’s likely a built in network.
- Do the yield test, especially if they are selling you an investment property – Ask them how much you could make in either rents or selling/developing the location. Failure to answer this question might be indicative that they don’t know what they are talking about.
- Ask what they have sold in the recent past, or what they have helped bought – It gives you an idea about what are selling/buying in the area you are targeting.
- Look at their listings – Ask to see this and see how they take pictures, write copy, and market the properties. If they care enough about the properties they are selling, you should be able to get a sense of this from the listings.
That’s a simple list of what we think are vital for brokers.