KnowBroker: The Importance of Brokers in the Real Estate Industry

The Role of Real Estate Brokers & Agents is downplayed these days.

So we at Homes247.in examines the importance of Real Estate Brokers through our Know Broker series.

Indian Real Estate Sector

The Real Estate Industry holds immense promise to the country's economic growth, especially during the current COVID-19 crisis. It holds the key to revitalizing India's position and getting our nation back to track towards becoming one of the top developed countries in the near future.

As India will never have a dearth of home buyers, similarly, the need for commercial spaces and lands are also on a whole new high because of the rapid foreign investment drive. Governmental schemes such as #MAKEININDIA are gaining more traction these days due to the global trust in India and also because of the potential our land holds.

The new avenues of commercial and manufacturing industries that are set to debut in our country also give a huge boost to real estate. And these days will see how real estate brokers and agents become a crucial element in the play of Titans.

Indian Real Estate Brokers and Agents

Who is a Real Estate Broker?

A Real Estate Broker acts as a facilitator or negotiator between two or more parties who wish to buy or sell land or properties like apartments, commercial spaces, or plots.

He or She facilitates the requirements and needs of both the parties and makes sure that each one gets equal value in the transactions. The Real Estate Broker would receive a very nominal percentage of the transaction as a commission.

And in India, as the Realty sector is a huge industry, there are millions of Brokers and Agents across the length and breadth of the country.

Why does a Real Estate Broker matter?

Having a Real Estate Broker or Agent by your side during a property purchase helps you a lot.

1) They can assist you in choosing the right one (they know what to look for)

2) Helps you get exact market rates

3) Helps you counter the tricks of the opposite party

4) Aids with the paperwork and regulations

5) Saves you from Real Estate Scams

However, in this digital age, finding properties you would like to purchase is as easy as having a cup of tea! Thus some mainstream companies are exploiting the opportunity and trying to undermine everything about the broker class.

These firms magnify the negatives of a few within the broker circles and cast it down upon the entire class. Especially targeting the brokerage or the commission they earn and telling the customers that they can save it off.

But if you dig deep into the heart of the matter, you'll find that these companies too follow the brokerage model, and yet they try to wipe out the thousands of independent brokers. Competing with peers is part and parcel in the world as long as it is healthy, but aiming at the scattered brokers across India is inhumane.

The millions of brokers across the country fall into the unorganized sector. Hence they can be easily picked off one by one. Letting brokers go broke means that the families who depend upon them suffer as well. This is unacceptable.

The value a broker brings into a deal is born out of the experience and personalized passion. These qualities will not often be replicated by firms. The knowledge about local markets and scenarios, a real estate broker in India can easily get the right value for you, whereas a firm that follows only data analytics cannot duplicate.

Thinking why to spend a percentage for the brokerage would only do good in the short run. But if you are thinking of the long term perspective, only by having a good real estate broker can you get the greatest value for the asset you are selling or buying! So a negligible percentage is of no consequence.

In an age where going vocal for local is gaining momentum, should we look down on the brokers around us?

So Know Brokers before you say No Broker!

#Knowbroker #vocalforlocal #India #homes247 #thinkhomethinkus