Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

~World Brokers Day commemorated with fraternity committed to being tech-savvy~

June 10, 2015: Amid the mushrooming portals in realty space, the contribution from the brick and mortar real estate broker to sales has rose to 35-40% for the developer’s inventory now compared 2% around 15 years back.

This was shared by panelists held to commemorate the first World Brokers Day on June 9 convened by Realty Redefined, that launched the platform RSquare to provide the first step to take real estate brokers to the next level as consultants and endow them with a sense of recognition and honor upon the brokers community.

The event cheered by a strong audience of broking fraternity also expressed optimistic outlook for the next five years in the otherwise beleaguered realty space.

Delivering his key note address on World Brokers Day, Mr. Boman Irani, Chairman & Managing Director, Rustomjee Group said, “The role of the real estate broker will not cease to exist, but his role will only change in the day to come by way of end to end solution.”

Elaborating the point further, Mr. H L Bagra, President, NAR India said, “India is growing at a fast pace and holds ninth position in terms of real estate development. Hence the broker must look beyond buying and selling and including Registration and Taxation issues too.”

In a country, where buying a house is an important decision for an individual after education and marriage, Mr. Ashwinder Raj Singh, CEO, JLL Residential called for balanced use of technology by focusing on the customer even after the deal.

According to Sumit Jain, Co-founder & CEO, Commonfloor.com, “The real estate broker is currently running around in the market and wasting time. But all this is set to change as he turns tech-savvy.”

Nirav Gosalia, Co-founder & Director, Realty Redefined, said, “Real estate deals are moving from mere transaction broking to customer centric consulting using web-based technology.”

In an era, where the heat on the real estate transaction is marked by changing customer behavior and his expectation, Mr. Gosalia called upon the brokers to build an enterprise and think beyond proprietorship.

“Brokers have remained relevant even in advance economies like US and Europe. The usage of technology through online platforms has only been substantiated by the brick and mortar real estate brokers who capture 30% of the leads from such platforms and successfully executes them”, said the other two Co-founders Mayank Vora and Harish Vora.

The event saw Former Indian Cricketer, Mr. Kapil Dev delivering a motivational speech exclusively for the brokers community. He said, “Be passionate about your job, the results will be amazing. Being honest to the field of work inspite of the obstacles, success will come gradually.”


Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

Real estate brokers contribution in realty sales have grown to 35-40% from 2% in a decade

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