How to tell if your estate agent is a fraud

There’s nothing more worrying than finding out that the estate agent, whom you have just handed over all your housing documents, is not genuine. When it comes to buying your dream home you want a knowledgeable person with years of experience. These days the real estate market is facing a different type of fraud due to the large transactions. Fake real estate agents keep a close an eye on strong parties who are going to be dealing with large sums of money. To avoid such scammers, it’s important for every client to know the credibility of a real estate agent. Consider the following when hiring an estate agent.

Low Commission Rate

 Real estate is associated not only with time but also with finance. We know that expenses and the agent’s salary are taken from the commission from the client. In this field, one thing has been concluded. A specialist who wants to make money honestly will require a high commission for their services. A high commission would be between 1.5% and 3% of the transaction amount. A fraud estate ages will know all the tricks and tactics to attract customers. Most of the time you will be offered suspicious commission rates. For those who are asking for a commission that is less than 1% – it depicts an agent is new to the business, which can also lead to problems when buying or selling real estate.

Having original Client Passport Information

Let’s be clear, real estate agents don’t need the original of a client’s passport. Clients don’t need to hand over all the passport details and if your real estate agent asks for these then there might be something suspicious going on. Having this document in hand, an agent can perform various types of fraud, only ever hand over a copy and never the original. If you are hiring an experienced person then you’ll see they will have the proper source of property management. Property management in SoHo has been seen in a handful of fraudster estate agents recently.

No Office Space

An experienced real estate agent will have an office space where they will conduct most of their meeting and interviews with clients, but agents with no office will trigger numerous questions. If they are the only one to deal with clients, then they should have a small office at the minimum. Having no other employees in the office would also leave a suspicious impact. This can also be a sign of fraudster.

 These three reasons can be a sign of a fraudulent real estate agent. We recommend you hire professional experts from renown companies such as Davis Brown.

How do Property Management Companies assist Landlords?

As a landlord, you’ll surely prefer earning maximum income from the rental property. However, you might not be able doing tenant screening, marketing the property, and completing the maintenance tasks alone as the plate of landlords usually remains full. So, for reducing the burden from your shoulders, property Management Company can prove a great option. Whether it is about the leasing documentation, a collection of rent, or finding a high-paying tenant, the companies handle everything perfectly. Well, there are unlimited reasons that reveal the importance of professional property management services. Have a look at a few!

  • Tenant Screening by Professionals!

Tenant screening is an important stage for renting out the property and the landlords often strive hard for finding a high-paying tenant but the professionals know the tactics of screening. It means that landlords can share the burden for better concentration on other key tasks by simply outsourcing this work to professional property managers. The tenants selected by professionals basically:

  • Pay high rent
  • Ensure timely payment
  • Stay for a long period
  • Values your terms and conditions   

        Documentation of Agreement!

Landlords usually make lease and rental agreements with their clients and such types of contracts require some familiarity with legal rules and regulations too. The property managers complete the documentation under the light of laws that means, the landlords do not face any sort of legal problems and all the contracts are finalized in a smooth way. More on, even if it is about the termination of the lease contract, evictions, or inspections, the experts assist in this regard too.

  • No more Long Vacancy Cycle!

The long vacancy cycle simply means that landlords lose a significant amount every month. However, when you choose a professional person for effective property management in Soho, the high tenant turnover can be controlled. These experts basically make sure that your rental property always has a tenant. It means, your worries of low rental income will be wiped away and regular cash flow will become possible.

  • Maintenance and Marketing!

Effective marketing means applying various tactics and experts are obviously familiar with such things. They market your property for attracting high-paying tenants only. The enticing pictures of the property and eye-catchy lines really capture the attention of tenants however the professional managers play various tactics for giving a prominent position to your property in the town.

More on, the managers do all the necessary maintenance on a timely basis and deal with the visitors in a professional way. The landlords do not need to spare time from a busy schedule just for dealing with every visitor because the managers handle all tasks efficiently.