The attributes of the best real estate brokers
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.
A broker of integrity will not inflate prices for any reason