Broking evolving as Advisors
One of the leading real estate consultancy and advisory firms, B Kandhari Properties based in Mumbai deals with all aspects of real estate services. Vijay B Kandhari –Director, Marketing & Business Development told Realty Plus the relevance of broking sector and the key factors impacting the discipline nowadays.
Right from buying, selling and leasing of – bespoke homes and luxury offices, commercial or retail spaces to open plots, TDRs and redevelopment of old societies, the company provides expertise to the clients in all the segments. From a small beginning, today the firm offers property solutions to developers, brokers, investors and the end users. The clientele of the company includes HNIS and Ultra HNIS, domestic and overseas investors, movie and sports personalities, major retail brands, leading developers, SRA developers, diamond merchants and finance companies
We have a legacy of more than three decades of real estate consultancy and at every step have aimed at not only providing property solutions but also build relationship of trust.
Broker as a channel partner for developers
The role and importance of a broker cannot be denied. The company or the individual can provide local expertise, brings the domain experience, networking proficiency, documentation capabilities as well as access to property options and the ability to find the right fit.
Brokers, by definition connect two parties by enhancing value on both sides. But off late what is happening is that the brokers are became just an information provider. With internet and other mediums becoming popular, the value of information has gone down and brokers who survived by just providing information about a property are losing business. The individuals and corporate who add value to the developer as well as the buyer have kept their role relevant in the transaction. We can re-tag this as- ‘easy money brokers go out of businesses.
The changes witnessed over the years in the broking sector
Things have become more systematic, organised, transparent and committed. With the introduction of Real estate Regulatory Bill, policies and procedure will be streamlined for all – brokers, customers and developers.All parties involved in the real estate market will be more dedicated, responsible, answerable and approachable. The regulations will also ensure that only licensed businesses and performers will survive. Policies and procedure will be streamlined for all, Brokers, Customers and Developers.
The Mumbai property market
Buyers are more confident in buying ready to move in properties or properties that are on the verge of completion than investing in pre launches or under construction projects. Customers don’t mind paying a premium price for quality properties developed by a well-known developer with a brand image.
With a steady economic growth, Mumbai’s commercial market is witnessing a revival. Start-up friendly policies from the government haveled to increase in demand for commercial spaces in business hubs like Andheri East, BKC, Goregaon and Lower parel. Offices with fair price have shown a continuous demand in the overall commercial market.