The at­tributes of the best real es­tate bro­kers

HT Estates - - FRONT PAGE - Sukhdeep Au­rora ht­es­tates@hin­dus­tan­times.com The au­thor is chief peo­ple of­fi­cer, ANAROCK Prop­erty Con­sul­tants

As an in­dus­try in the midst of ma­jorchurn, In­di­an­realestate is now­head­ed­to­wardsyetan­other cross­road. The pre­vi­ous cross­road– the in­dus­tryshake­upini­ti­ated by the roll­out of RERA – ne­ces­si­tated chan­gesin­busi­ness mod­el­sand­tra­di­tion­al­cash­flows of de­vel­op­ers. This one will de­mand­new­er­skillset­sand­beall about­set­tingtech-savvy, eru­dite, pro­fes­sional bro­kers head and shoul­der­sabovethekindthathas dom­i­nated the in­dus­try so far.

In terms of ca­reer growth, the sky will be the limit for a new breed of bro­kers who­have­taken a con­scious call to evolve; to up-skill or­per­ish­will­bet­wo­choices left to those who have not.

Tech­nol­ogy con­tin­ues to dis­rupt a sec­tor that is al­ready en route to achiev­ing un­prece­dented trans­parency lev­els on the back of the lat­est pol­icy changes, and the In­dian real es­tate sec­tor is also gain­ing greater global ex­po­sure. More than ever be­fore, for­eign in­vestors are­fo­cusin­gonthe­coun­try’s hous­ing in­dus­try, along with NRIs who have been ex­posed to in­ter­na­tional stan­dards of do­ing busi­ness. These new dy­nam­ics make it im­per­a­tive for as­pir­ing and ex­ist­ing res­i­den­tial real es­tate bro­ker­sto­op­er­ate­with­far greater pro­fes­sion­al­ism, pol­ish and tech­no­log­i­cal skills than were re­quired be­fore.

When it comes to be­com­ing em­ploy­ableinthetop-ranke­dres­i­den­tial con­sul­tan­cies in India today, as­pir­ing prop­erty agents must go be­yond be­ing just smartly dressed - they must also dis­play bet­ter ‘soft skills’, betech­friendly, and able and will­ing to ab­sorb and project a global code of deal­ing with cus­tomers. In­di­vid­u­al­swhodis­playthesec­om­pe­ten­cies clearly stand the high­est chance of get­ting hired by top­notch prop­erty con­sul­tan­cies firms today.

Cog­nizantofthe­fact­that­some of the re­quired­skills mustal­sobe im­parted on the ground, the best prop­erty con­sul­tan­cies in­vest in train­ingth­eirem­ploy­ees­by­of­fer­ing in-house ‘fin­ish­ing’ cour­ses. These cour­ses are also use­ful in iden­ti­fy­ing high-po­ten­tial can­di­dates for leadership po­si­tions. Mean­while, ex­ist­ing em­ploy­ees may­been­cour­aged­to­take­uprel­e­vant cour­ses at real es­tate ac­cred­i­ta­tion bod­ies like RICS.

A new breed of prop­erty bro­kers Gon­earethe­dayswhen­just any­one with a fire in their belly could­callthem­selvesarealestate bro­ker. As the in­dus­try makes rapid strides for­ward in be­com­ing­mor­ereg­u­lated, it is now­manda­tory for bro­kers to ei­ther have a li­cense to op­er­ate in the in­dus­try­or­bowout. How­ever, al­i­cense alone does not make a good bro­ker. Home buy­ers and in­vestors in In­dian real es­tate now ex­pect much­morethanjust­ba­sic­ser­vices from bro­kers today.

Pro­fes­sion­al­ism and­in­tegrity arethem­i­ni­mum­re­quire­mentof the best prop­erty bro­kers today. In­tegrity, both­as­aper­son­alqual­ity and a core value of the firm a per­son rep­re­sents, means un­com­pro­mis­ing trans­parency and scrupu­lous hon­esty. A bro- ker of in­tegrity will not in­flate prices for any rea­son, and in fact high­light op­por­tu­ni­ties for ne­go­ti­at­ing lower prices where they ex­ist. Such a bro­ker will present a client with a full spread of op­tions, of­fer com­plete in­for­ma­tion on ev­ery op­tion and on all as­pects of atrans­ac­tion, and­keep the client as the first and over­ween­ing pri­or­ity.

In­tegrity apart, ad­e­quate soft skills can also no longer be dis­pensed with. The In­dian stereo­type prop­erty agent - crass, hec­tor­ing, jug­gling mul­ti­ple phones while com­mu­ni­catingin­lo­cal­lyflavoured ‘Hinglish’ and giv­ing the cus­tomer ma­nip­u­lated facts or out­right lies - is a di­nosaur in today’s mar­ket en­vi­ron­ment. A high de­gree of soft skills - which, by­def­i­ni­tion, areper­son­alat­tributes en­ablin­gaper­son­toin­t­er­act ef­fec­tively and har­mo­niously with oth­ers - are what de­fine today’s most­suc­cess­ful­prop­erty bro­kers.

What do these soft skills ac­tu­ally in­volve? These in­clude a good­dresssense, good­com­mand over lan­guage (both spo­ken and writ­ten), the­abil­ity to give clients un­di­vided at­ten­tion, pa­tience whilep­re­sent­ing all theavail­able op­tions cor­re­spond­ing to the client’s ex­act re­quire­ments, ad­vanced ne­go­ti­a­tion skills and tech-savvi­ness as a dif­fer­en­tia­tor.

Withthe­fast-evolving­ex­pec­ta­tions of home buy­ers and in­vestors, it has be­come nec­es­sary for bro­kers evolve in tan­dem into high-grade­pro­fes­sion­al­swhoare up­tospeedon­mat­ter­sof­per­sonal pre­sen­ta­tion, tech­nol­ogy and in­dus­try trends. The­mar­ket­forces that de­fine In­dian real es­tate today will def­i­nitely also de­fine the ca­reer path of such bro­kers rise in the com­ing years - and the coun­try’stop-rat­ed­prop­er­ty­con­sul­tan­cies will go all out to hire and re­tain them.

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A bro­ker of in­tegrity will not in­flate prices for any rea­son

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