More than 95% of all transactions in real estate India are done by real estate brokers.
Technology has developed by leaps and bounds in the last few years and amidst this euphoria and information overflow, people often pose a pertinent question in the context of real estate-“Can’t there be a website which will give virtual tours and cut out the real estate agents? The answer is ‘NO’. It is similar to asking why one needs a doctor when there is MRI scan.
Even with the availability of the huge amount of online resources, the experience that a real estate agent brings to the table is invaluable. This is because real estate is essentially an offline process and even though information gathering can be done online, other important tasks like visiting the site, negotiations with the seller or buyer, as the case may be, and the required paperwork needs to be done offline.
Values brought by real estate brokers to a deal–
From the viewpoint of rental and resale, getting the property listed online is only the first step. The process often stretches for months and can get really cumbersome for the owners.
The services of a real estate agent becomes paramount in such critical juncture – he can guide the customers through the intricacies of the transaction, and bring both parties to the same page and finish off the required paper work. Read about facebook marketing tips for real estate marketers.
Convenience of buyers and sellers:
Thus, the first and foremost reason for hiring a real estate agent is convenience. His area of expertise is to liaise between buyers and sellers. He (she) will have access to other properties listed by other agents and knows what needs to be done to get a deal together. On the other hand, if an individual buyer or seller doesn’t want to part with the commission, he(she) will have to go for property hunting himself, forgoing the leisure of the weekends, and skipping other equally important commitments.
Sellers might have to entertain people who would book an appointment and never turn up, or people who will collect all sorts of information and then decline to finalize the deal. Not employing an agent is therefore a ‘penny wise, pound foolish’ decision, unnecessarily welcoming stress and wasting one’s valuable time.
Knowledge of Real Estate Market:
The second most compelling reason to hire an agent is his knowledge- about the locality (insider information) and about the market. The agent’s knowledge can help in choosing the most appropriate locations based on access to essential amenities like schools and hospitals or potential problems in a property like shortage of water or a lousy neighborhood. He (she) is a seasoned player and will know the market trends and appropriate price points to aid in better closure of the deal.
Negotiation involved in deal:
Real estate agents also have higher success rates in negotiating a favorable deal. Not every buyer or seller can be a skilled negotiator, which calls for employing a professional. An agent can assist tremendously by negotiating for the buyer or seller in tough transactions and streamlining the entire process. The duty of an agent is to present the client’s case in the best possible light and hold client information confidential from competing interests. If the situation demands he can also play the role of the bad guy in a transaction, thereby preventing bad blood between the buyer and the seller.
Agents also aid in tackling the paperwork and red-tapes by providing the finer blue print, and thus reducing hassles. They also have contacts with other auxiliary service providers like landscapers, contractors, and other agents which might be required to ensure the property is in sell able shape or legal counselors and interior designers if the need arises. Moreover, acquisition of an agent also signals seriousness of a customer, which is duly reciprocated by the other party.
However, not all real estate agents are equally efficient. Many customers suffer because of unprofessional, pseudo-agents. Often it so happens that people who are jobless choose to be a broker without proper knowledge of the profession or the market, and act only for their personal interests. Read how to improve images of real estate brokers in India
At Regrob.com, we take extra care in weeding out such nuisance and partnering with only professional agents, thereby providing customer satisfaction and an amazing experience. After all, it is not every day that you buy your house.
Agents take tremendous interest in joining us, because we employ the best practices in the industry and with the aid of technology, provide them with an opportunity for unparalleled growth.
Why should real estate agents join Regrob?
Before the internet revolution- in the days prior to WhatsApp, Facebook and other social networking media, real estate agents thrived on information arbitrage. They had access to information which others didn’t. However, the world has taken a 180 degree turn since then, and access to information can no longer be the selling point for any business, and it certainly is not the reason why a customer would turn up to an agent.
With information being available fairly and widely and many owners listing their properties online, the competition for the real estate agents has become fierce and cut throat. In addition, the number of real estate agents has also risen manifold. As a result, the earnings of the agents have dipped.
This is a wake up call and the agents must realize that the rules of the game has changed; and those who fail to adapt according to the new setup will surely lose business.
This is where Regrob.com comes into picture. It provides the partner agents a platform to meet the prospective buyers and sellers, and also with other fellow agents. They don’t have to spend time developing the business, and instead can focus on serving the customers better and not searching for them. They also get access to a customer database and support teams- people to take calls from new customers and to help with the paperwork.
Individual agents also lag behind in exploiting the benefits of technology. Apart from using WhatsApp to update the customers, they don’t really use other tools for efficient conduct of business mainly because these tools are expensive and it is almost impossible to breakeven in the short term.
Regrob’s main vision is to delight the customers through a fusion of on-field expertise and advanced technology and it will help in facilitating such CRM tools to its partner agents, which will help improve their productivity. Similarly, inventory management and other marketing applications can go a long way in sustaining the productivity, thus developing competitive advantage over other agents.
Furthermore, training sessions and learning material provided by Regrob will help enhance the skillsets of the agents. This will help them understand the market better, and in turn will enable them to serve the customers better, and grow side-by-side with Regrob.