Opinions can be of little value when the supplier benefits from the opinion. Whether it is a Stock broker, Life insurance agent or Real estate broker recommending an investment the compensation paid is usually a percentage of the transaction called a commission. The strength of the advice may be weak. The age old saying, No one works for free is true and rational individuals would not ask for free advice from a knowledgeable source. The client is advised to consider the motive for a purchase or sell recommendation by the agent. Seeking advice from qualified individuals will require some research:
- Contact Past clients of the agent, what was the outcome of recommendations
- A Review of the Agents finances will determine the need for the agent to make a deal today
- What is their Education level. How relevant is the education to the field they are working in
- A Trustworthy agent can also suggest individuals within their own industry that can speak to their qualifications
An agent who can freely discuss the disadvantages along with the advantages of any recommendation that they make may be qualified to assist in the decision making process. Beware of any recommendation that comes with a rosy outlook with few if any downsides as it may very well be coming from someone who has identified you as their next car payment.
In today's world, we all find ourselves needing the advice and services that others provide. A Stock broker suggests the purchase of a newly released stock issue but neglects to buy the same stock for their own account, or the Real estate broker that speaks of excellent opportunities to invest in rental income properties but has not purchased any for their own portfolio. Most people like to do business with people who believe enough in the product that they sell to own the stuff themselves. Articles can be found in newsprint or the internet คอนโด กรุงเทพ speaking to the unbelievable opportunities in land, homes or commercial properties by authors who have never invested a penny in the market. How is it possible that these individuals could counsel others in matters they know nothing about? The consumer should be diligent in qualifying the individuals that they rely upon for counsel. Not all advisors are cut from the same cloth. An individual that is licensed to practice real estate may be ideal in residential sales but may be ignorant in commercial building transactions. Even more so, agents who have not practiced in matters of land, with years of experience should be avoided. This is an area of real estate practice that is complicated, sophisticated, and demanding. An agent should be able to point to transactions in recent history that qualifies them to assist you with your needs.
The risks of receiving poor counsel is reduced when a qualified broker is hired to assist in the decision making process. A counselor that charges a flat fee for services, paid in advance and not tied to any particular investment strategy can be retained to render a neutral opinion. While the Real Estate industry does not have a standard for consulting services, a broker with decades of experience may be substituted nicely. In any case, question any advice that is tied to compensation.
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