Evolving role of real estate brokers as consultants and advisors

Online property listing portals have changed the way buyers perceive real estate brokers, agents and consultants. In the current scenario, broker or an agent is generally perceived as someone who is merely introducing both the parties to earn a brokerage. With this perspective in mind, the question of whether brokers are still relevant pops up when buyers are searching for the properties for self- use or investment.


With rapidly advancing technology and media awareness, various platforms are available for buyers as well as sellers to meet directly and conclude transactions. This is also becoming true for sales by developers who are pushing to reach prospective buyers directly. Though this is true to some extent, it has to be clearly understood that the real estate brokers are also changing and becoming value added service providers instead of merely a transaction introducer. On the contrary, the role of consultant has become more relevant because:

  1. Transaction size has become big
  2. Multiple choices are available.
  3. Lack of transparency is still adding to confusion
  4. Legal formalities are increasing
  5. Tax laws are becoming more complex etc.

New age real estate consultant is more than a broker and can be called an Advisor and Consultant who is providing large number of value added services.

As Authorized Channel Partners 

In the case of new property purchase (ready for possession, pre-launch or under construction phase), where option of going directly to the builder is available, it is still prudent for the buyer to go through a broker firm which is an authorized channel partner for that builder and also provides one window service for all real estate transactions. The agency will take care of all kind of issues – legal, taxes, financial or otherwise which may not be available under one umbrella if dealing directly with the developer. They will also be able to present other options with proper comparison keeping in mind your unique requirements.

As One-Stop Service Provider 

Property Consultancy and broker firms, who believe in providing value added services to their clients, invest in hiring experienced professionals from different verticals of real estate to be able to operate as one window service provider. For example, their teams have domain experts from financial, legal, taxation and of course realty background. They help search for properties meeting the buyer’s needs and evaluate the properties for due diligence from financial, legal and realty background to save their clients from frauds and dupers. That is something that neither a fancy listing website nor an individual operating as agent or broker can provide.

As Real Estate Investment Consultant and Advisor

Typically investment by any person are done mainly in financial Instruments like (a) FD, MF, Shares, Insurance (b) Gold (iii) Immovable property for self use or investment.

While monitoring of investments in first two options is easy, it is quite difficult to evaluate real estate portfolio for lack of standard yardstick and professional expertise to monitor. New- age consultancy firms with years of in-house financial expertise and realty expertise are able to monitor, evaluate and advice on this front.

How to find a good real consultant?

Conclusion

Real estate brokers who are evolving with time in the digital era are now focused more on building relationship than merely doing the transaction. They are doing so by assuming the role of consultants and advisors instead of merely connecting two parties willing to engage in buy-sell transaction. Established firms now provide value added services to their clients and this becomes more relevant keeping in mind that they may provide all these services at no extra cost.

About Spacio

Spacio Realtors is a real estate broker and advisory firm in Mumbai, India. The firm’s advisory services are ISO 9001:2008 certified and deals in residential and commercial properties in and around Mumbai. Spacio has a  team of experienced professionals, who are highly skilled in the domain of realty and finance.

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