Realtors India, a body working towards training of brokers and bringing in global standards to the industry.
POWER TO THE BROKER
“It is almost impossible to eliminate brokers and more so in the resale segment.” says Ashok Badiani, a broker from south Mumbai. “The portals and sales teams cannot match our services. In India, buyers need personalised service, right from finding the place till performing the pooja while moving in.”
Given the fact that for a home buyer, the home is the most significant investment, one cannot discount the value a broker brings with his knowledge of the market and procedures. “You may know the provisions of the Income Tax Act. Yet most of us utilise the services of a professional to file our returns. The same is the utility of a broker,” says Chopra.
“The work of a realtor is very tedious,” says Shridhar Malwe, a broker from central Mumbai. “Once a brief is given, the broker runs around to identify a range of suitable options. He will visit all the sites, and arranges the meeting between the buyer and the seller, negotiates on behalf of the client. He also arranges to get the copies of documents for verification and in many cases, arranges the meeting between the office bearers of the society and the buyer.”
“Brokers offer a host of ‘hand holding’ services for documentation and ‘walkthrough’ the officialdom for closing the transaction paperwork,” adds Rao.
Portals may have their advantages in marketing when seen from a developer’s perspective, and in information aggregation, but brokers are not to be discounted for their intimate knowledge of the situation on the ground. “Does a portal display problems about a locality? In tier-II and tier-III towns, very few would go on a portal since here even a dhaabaa owner and a paanwala could be working as the part-time brokers. The trust and transparency levels in these cases are very high since the person is very well known to you and helps you as a broker as well,” says Sushila Verma, who has operations in Pune and the hill station of Lonavla.
This has been acknowledged by portals themselves.