The Indian real estate market is expected to reach $180 billion by 2020, which makes it very attractive for you to be active in real estate from India. How to become a successful estate leader and how to do it in India, by Kalinga Keshari Rath.
Let us now take a look at how we step by step get into this type of real estate business. Before we discuss setting up a real estate company, let me first share some facts and figures about the real estate market that can help you develop and better understand a strategy for your business. As you gain importance, you need to start your real estate business in India, and you can start it as soon as possible in the next few months.
With RERA 2016, you now need to be registered and verified to facilitate real estate transactions. REMI has developed a program to create a network of agents who are the main intermediaries in a real estate transaction. This 30-hour part-time program is designed in conjunction with world-leading industry associations such as the Real Estate Council of India (RECI) and the National Association of Realtors (NAR).
In order to secure a job as a broker in India, you must undergo the appropriate training and certification and register for a certification program. While brokers conduct their business under their own license, brokers work under the supervision of a licensed broker or broker – agent agent.
Brokers make their money mainly from commissions based on successful transactions and a small percentage from the sale of the property to the buyer.
Read the article titles and links to see how the market and business have changed and how you can only work successfully with buyers. Covering the entire market, not just the first few months, is crucial to a broker’s career. A new agent doesn’t need to make a list to survive until you hear from them, and if you don’t make a list, you won’t stay in the real estate business for long.
Regardless of location, the real estate industry is a price sensitive sector and it is therefore important for anyone who deals with buyers to be aware of the current market conditions in their area of interest.
Another important point is that it is very difficult to predict the exact demand and hence the oversupply of commercial property. As the economy shrinks and growth shrinks, developers ignore the development of commercial real estate. The economy is recovering and vacancy rates are beginning to fall, but the scarce supply of commercial real estate is once again driving up rents.
Commercial real estate tends to have periodic development cycles, and as a result, it is sometimes said that there will be periods of oversupply. And there will be a period of tight supply.
When it comes to the abundance of shopping centres, we have seen a huge increase in the number of shopping centres in India in recent years. As there is a demand for retail space, developers have stepped in and created an oversupply in shopping malls across India.
When local property developers and investors sense vacancy falling and rents rising, they believe more development may be feasible.
As a result, developers are beginning to analyse the market to see if additional land, when developed, can be rented at a profit. There may be a clear need for additional space, but the development potential is not there if developers hurry to deliver it to competitors in the market. Although many competing developers sense an opportunity at the same time, they cannot start development at once to meet demand.
We cannot see an oversupply of space because it is difficult to predict actual demand, especially in a market with such a large number of different types of buildings.
Rising vacancy rates and falling rents are driving developers to develop commercial real estate. As far as investments are concerned, the market is geared to a limited space. In the past, my career has gone to great heights and has yielded considerable profits, but not in the present.
Kalinga Keshari Rath | The Leading Builder of BBSR
Becoming an estate agent in India is a turning point in anyone’s career unless you make the right start. In essence, employment of brokers and estate agents is expected to increase by 11% by 2022. Although you will need to take several steps when becoming an estate agent, you will need to undergo a considerable amount of education and training.
Unqualified people become real estate agents and brokers, which causes numerous problems for customers. Although most of us have at least had bad experiences with incompetent brokers in India, the job of an estate agent may not seem very attractive.
The buyer looks at the property and looks on The agent analyses the work and looks for the best possible price for his property.
Kalinga Keshari Rath | The Real Estate Business Tycoon