What Do You Get For Your Broker's Commission?

Whether you're buying a house or renting a high-demand apartment in a big city, your broker's commission can add several thousand dollars to your final costs. While it's understandable to want to save as much money as possible, many people don't understand how much theirreal estate agent is doing for them. Here's what you get in exchange for your broker's commission.

Avoiding Scams

With many housing listings now online, a new scam has grown in recent years. You respond to an ad and meet the lister at the property. You might get a tour of the apartment building but not be allowed to see the actual unit because "the previous tenants are still living there." Or maybe you even do get a tour of the inside.

Everything looks good, so you put down your deposit and get ready to move in. The problem? When you come back on your move-in day, the real owners are back from vacation, and the person you gave your deposit to is nowhere to be found.

A reputable, licensed broker has the tools to find out who really owns a property and the insurance to cover you if you ever do get scammed.

Saving Time

When you're working full-time, it can be a huge burden to go around looking at apartments or houses. This leads many people to make a rushed decision they might regret later.

A broker helps narrow down the list of available homes to match your needs. Many are now offering Skype or Snapchat tours so that instead of taking half a day off from work, you only need to step away from your desk for ten minutes.

The bonus of these live tours over posted photos or videos is that you can ask questions and ask the broker to move around. This avoids those camera tricks that make a tiny closet look like a huge living room.

Help With the Paperwork

Whether you're buying or renting, you'll need to complete a lot of paperwork before you move in. Because people move so little and often to different areas, they're rarely familiar with the paperwork required in each location.

Your broker will help walk you through the process so you understand what's going on. They'll also be able to tell you what's normal and when the buyer or landlord is making unusual demands.

To learn more about what a broker can do for you, contact a local real estate agent today.