Real Estate Agents or Brokers as they are typically known exist in one of the most unorganized sectors in our country. While there may be few high end Agencies in every city a typical agent or broker has no fixed set of rules or system to work with. Firstly their importance is highly downplayed as they don’t just help in finding you find a home to buy or rent but also arrange site visits, help with suggestions & negotiations, documentation & more. On trying to understand the challenges faced by them a typical answer would be technology penetration to their system of work. But in reality the actual challenges faced by them are:
All Real Estate Agents & Brokers in India have to mandatorily be registered to the RERA act in their respective states which costs money & has many guidelines to follow that an average broker may not be able to comprehend. Systems that can reduce those costs & simplify the enforcement would be highly beneficial to all the agents.
The next very important challenge for them is getting potential leads to serve. A system that can help them to obtain as many leads as possible from different platforms that are widely used will help. One may point out that everyone uses Facebook & Whatsapp but not all agents are tech savvy to know how to use these platforms in a commercial manner. A platform that can act as an interface to all those social apps to get those leads will be highly beneficial.
The most valuable resource in real estate is a lead. They bring the demand thereby need to be provided with the best of service. But that service is lacking due to mismanagement, inadequate, & more thereby most leads become unused or wasted. Hence a simple, enhanced & dependable service needs to be provided to the leads which the agents or brokers may not be able to deliver.
Every agent has an expertise in terms of providing best options to buyers with respect to an area in a town or a city. But when a buyer's requirement is beyond their expertise, instead of failing to serve them an agent uses his associated agent's assistance for the same. If the other agent is able to meet the buyers need & once the sale is done, there arises a question on sharing the commission. To solve this a system which can formalize the revenue sharing is necessary.
All agents or brokers will not be associated with all types of builders & developers thereby not have many options for their leads. This limitation needs to be addressed by developing a shared platform where they have access to all the best properties with enough inventory to meet the needs of any client.
Say that an Agent has many leads for which some deals were done for prospects. His rightful expectation is to receive the commission for all of them. But not all of them paid the commission faithfully & the agent is left helpless with no returns for the efforts put in. Hence a transparent system needs to be developed where every step from a client initiating the use of the agent’s services to the closure of the deal is recorded & accounted. This will help agents to prevent any revenue leakages.
Hence the challenges faced by real estate agents are discussed. Providing a suitable solution to all of them will be a huge boon in organizing their sector.
In the need of solving this problem a highly advanced technology platform has been developed. That is Ozoprop - India’s first real estate social selling platform. This platform ensures simplicity, lead generation, transparency, payment reliability, trustworthy & more. So download & benefit now!
Susheel Kumar M
An avid reader
Passionate guy with diverse skills