[ecis2016.org] In this article, we look at the information that buyers frequently seek from their brokers and how agents can be prepared for this
A home buyer’s journey is made fairly simple, if he or she is able to avail of the services of a good broker. In this article, we look at the information that buyers frequently seek from their brokers, before hiring their services.
Information regarding the broker’s RERA registration
With the implementation of the real estate law, it is advisable for home buyers to do business with only those brokers, who are registered under the state’s Real Estate Regulatory Authority (RERA). Therefore, if you are a broker, keep your RERA registration number handy, which any home buyer can use, to look up your details online.
Here is a sample RERA registration certificate for your reference. It has your name, address, terms and conditions and validity of the certificate. If you do not have your certificate, you could directly send across your registration details on the concerned RERA link, as shown in the picture below.
Source: RERA Delhi website
Source: RERA Delhi website
Your expertise in niche transactions and negotiations
If you have been able to sell more as a broker than others operating in the area, it will definitely work in your favour. Home buyers often want to know that they are in safe hands. For this, you need to show them your expertise in handling niche transactions in the past. Ensure that you have sufficient information ready, to prove your expertise in locating properties that match the buyer’s needs; that you are good at obtaining information and inspecting properties before selling it. Home buyers will also like it if the broker can act as a proxy for the buyer during negotiations. Negotiation is one of the toughest parts during the home-buying journey. Your proven expertise in fetching the best deal for the buyer, can make you invaluable as a broker.
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Details about brokerage charges
A real estate agent’s services do not come for free. However, there are some buyers who may not calculate certain charges in advance and this may result in hassles at a later stage. 36-year-old Vineet Tripathi, a broker at Sarvogya, says, “I have been in the brokerage business for a long time now and have often dealt with difficult home buyers who feel that it is the home owner, who will pay the brokerage to the broker. They need to understand that brokers charge a certain percentage of the property cost from both, buyers and sellers. This is how they earn for their livelihood.” As a professional broker, it is better to clarify these terms in advance with the home buyer.
Mode of communication
How you intend to keep in touch with a prospective buyer is important. Most home buyers wish to have a responsive seller, who will provide them with relevant information when it is required. A number of applications and tools have come up in the market for brokers but in the current times, most home buyers prefer WhatsApp, compared to emails or text messages. Your readiness to choose a communication platform that is instant and real-time, conveys your professionalism too. Nevertheless, ensure that you do not end up spamming a potential client. You may also want to connect with potential buyers on Housing Assist.
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Where can I get the RERA registration certificate from?
If you are a promoter, real estate agent or broker, all you need to do is furnish your details in an online/offline form and submit it at the state’s Real Estate Regulatory Authority office. Once your details are verified, your certificate will be issued.
What is the validity of the RERA registration certificate?
The registration is valid for five years and is renewable.
How much commission do real estate agents charge?
Real estate agents charge a certain percentage of the property transaction cost as brokerage from both, buyers and sellers and this is generally in the range of 1%-2%.
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