Buying or selling a property is a big decision, and the last thing you want is to end up with an unreliable property dealer. Unfortunately, not all property dealers in Mohali are trustworthy, and falling into the wrong hands can cost you time, money, and peace of mind.
So, how do you separate the professionals from the frauds? Let’s break it down step by step.
1. Check for a Valid License
The first and most crucial step is to ensure that the property dealer is legally registered. In Punjab, property dealers must be registered under the Punjab Real Estate Regulatory Authority (RERA).
How to Verify:
- Ask the dealer for their RERA registration number.
- Cross-check it on the official Punjab RERA website.
- Ensure their license is valid and not expired.
🔍 Real-Life Example:
A friend of mine, Amit, was looking for a 3BHK flat in Mohali’s Sector 70. He found a dealer offering a great deal. However, when he checked RERA’s website, the dealer wasn’t registered! That was a red flag, and he wisely moved on. A few months later, he learned that the same dealer had scammed several buyers.
Lesson? Always verify the license first!
2. Research Their Market Reputation
A well-established property dealer will have a strong reputation in the market. The best way to gauge their credibility is by checking online reviews, testimonials, and social media feedback.
Where to Look:
✔ Google Reviews: Look at ratings and customer feedback.
✔ Facebook & Instagram: Check for client interactions and comments.
✔ Real Estate Portals: Platforms like 99acres and MagicBricks often feature reviews.
🛑 Red Flags:
🚩 Too many negative reviews mentioning fraud or hidden charges.
🚩 No online presence at all – this can mean they are new or avoiding scrutiny.
✅ Pro Tip:
Try to connect with previous clients. Ask them directly about their experience. If a dealer refuses to share references, that’s another warning sign!
3. Verify Office Address and Physical Presence
A genuine property dealer will always have an office where you can meet them in person. Scammers often operate remotely, avoiding face-to-face meetings.
Steps to Confirm:
🔹 Visit their office in person.
🔹 Check for proper branding and business operations.
🔹 Ensure they have staff, documents, and a professional setup.
🏠 Personal Anecdote:
Last year, my cousin Raj was looking for a commercial property in Mohali. He found a dealer online who insisted on meeting only in cafes or over video calls. Raj got suspicious and insisted on visiting the dealer’s office. Guess what? The “office” didn’t exist! That saved him from a potential scam.
Moral of the story? Never trust a dealer who doesn’t have a proper office.
4. Ask for Experience and Past Transactions
Would you trust a doctor who just started practicing? The same logic applies to property dealers. Experience matters!
Questions to Ask:
❓ How long have you been dealing in Mohali real estate?
❓ Can you share details of some recent successful deals?
❓ Do you specialize in residential or commercial properties?
📌 Why This Matters:
An experienced dealer knows market trends, legal procedures, and the best properties. A newbie might still be figuring things out, which could lead to costly mistakes.
💡 Pro Tip:
Look for dealers with at least 5+ years of experience in Mohali’s real estate market.
5. Check for Transparent Dealings
Honest property dealers in Mohali will be upfront about their commission, terms, and any hidden costs. Fraudsters, on the other hand, might trick you with hidden charges.
Signs of a Transparent Dealer:
✔ Provides a written agreement with all terms mentioned.
✔ Clearly states their commission (usually 1-2% of the deal value).
✔ Gives a proper breakdown of all costs involved.
🚩 Warning Signs:
❌ Hesitates to give things in writing.
❌ Asks for an unusually high advance before the deal is finalized.
❌ Adds extra charges at the last minute.
💡 Smart Move:
Before paying anything, get a written contract detailing all charges. If they refuse, walk away!
6. Verify Their Network and Connections
A good property dealer will have strong connections with:
🏛 Banks (for home loans)
📝 Legal Experts (for paperwork)
🏗 Builders & Developers (for better deals)
If a dealer claims to be well-connected but struggles to provide basic legal or financial guidance, they might not be as reliable as they say.
Ask them:
- Which banks do they work with for home loans?
- Can they arrange a meeting with the builder or previous buyers?
- Do they have a legal expert for document verification?
A well-connected dealer can simplify the buying process, while a shady one can complicate it.
7. Trust Your Gut Feeling
Sometimes, all the verification in the world won’t beat your instinct. If something feels off, trust your gut.
🚨 Common Red Flags:
🚩 The dealer rushes you into making a decision.
🚩 They avoid answering direct questions.
🚩 They pressure you to pay an advance without proper documentation.
🗣 Real-Life Experience:
A friend, Neha, was about to finalize a deal for a plot in Mohali. The dealer kept pushing her to make an instant advance payment. Luckily, she hesitated and asked for a day to think. That night, she searched the dealer’s name online and found several fraud complaints. She dodged a bullet!
Lesson? Never rush into a deal. A genuine dealer will give you time.
Final Thoughts
Hiring a trustworthy property dealer in Mohali can make your real estate journey smooth and stress-free. But a wrong choice can lead to financial losses and endless headaches.
Quick Recap – How to Verify a Property Dealer’s Credibility:
✅ Check RERA Registration.
✅ Research Market Reputation.
✅ Verify Office Address.
✅ Ask for Experience & Past Transactions.
✅ Ensure Transparent Dealings.
✅ Check Their Network & Connections.
✅ Trust Your Gut Feeling.
Take your time, do your research, and never hesitate to walk away if something seems off. A little caution today can save you a fortune tomorrow!
🔹 Looking for a verified property dealer in Mohali? Start with thorough research and use the above checklist before making a decision. Happy house hunting! 🏡✨