Why you need brokerage services while buying property
Jan 10, 2014
Source : The Times of India

 

DELHI: While purchasing a property, it always helps to have someone who knows the market inside-out. A genuine property brokerage firm fills in this gap between you and the market. Let’s find out the reasons one should opt for such a firm:

Property transactions are processes and procedural entities. Every transaction is unique in itself even if the transaction is for the same property within a month.

For novice/beginners it is always advised to transact through a brokerage company. Even if you are a seasoned investor it makes sense to approach a brokerage firm as they would obviously have more leads/database for buying/selling in a particular area.

An ethical and experienced brokerage house ensures that the whole experience of property buying is highly satisfying for the buyer as well as the seller.

It is the duty of the brokerage house to obtain the necessary licensing from the local authorities to run their brokerage business. For instance, in Gurgaon, HUDA (Haryana Urban Development Authority) issues the “Property Dealers License”. Only serious brokerage houses would obtain the same, exemplifying long-term vision to stay in the business and not revert to malpractices which might lead to loss of license, penalties and imprisonment.

Brokerage firms need to keep themselves updated with respect to every aspect of the property market such as prices, project information, project licences, floor plan approvals and other major aspects of the project which in turn gives them a better grip over the market. The brokerage firm has to be better equipped in all areas to keep their business in the revenue cycle. This added knowledge gives them an extra edge in the market.

As it is a daily routine for a brokerage house, they know the whole cycle of property buying in terms of legalities and fair pricing. This helps them in drafting the client’s “agreement to sell” in a manner that is perfectly balanced for both the buyer as well as the seller and is also not biased towards any one party.

An experienced brokerage house will always ensure transparency and take responsibility of the whole transaction and its safety, wherever possible.

Further, a brokerage house also helps to cut time, money and energy for the client’s research. In addition, the brokerage house leads/escorts the transaction cycle with the right documentation.

 

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