As mentioned in our previous blog, finding a right property could be a time consuming thing especially for the first time home buyers. However, the availability of various transaction mediums can make your property buying a hassle free process.
Developer
Properties could be directly brought from the developers. The benefit of buying directly from the realtor is that the developer can take care of all the paper works & other documentation required. However, buying a property from the developer may limit your choices to just one project or property.
It is advisable to directly consult a developer, only when a detailed due diligence is done on the developer performance and the buyer is assured about the credibility of the developer.
Brokers
In India brokers are one of the most effective platform, when it comes to facilitating realty transactions. In fact major part of the realty space in India is dominated by brokers. The advantage of brokers lie in the fact that they have access to large number of properties & likewise have strong knowledge of the local market nuances. However, paying a brokerage fee is often mandatory and this could come as a disadvantage of having a broker as your medium for transactions.
Also majority of the real estate brokerages in India operates in the unorganized sector & hence many times such brokers or agents lack professional approach.
Online Platform
In recent times, on the backdrop of the rising internet penetration in India, powerful online portals like 99 acres, Square Yards Online Portal, Magic Bricks, Common Floor and Housing etc. are becoming very popular.
These online mediums offer consolidated information of all the possible property options under one common platform and hence have been a boon to the often difficult task of searching for the right property. Empowered with enhanced filter options, they also aid buyers in short listing properties fitting the bill from large databases fine-tuned to individual requirements. For instance, buyers can easily find out a range of properties of specific size, falling within a particular budget and located in a particular area in just a few clicks.
Organized Brokerage
In the recent time India is also observing the emergence of organized real estate brokerage. Companies such as Prop Tiger, Square Yards, India Homes & Investor Clinic are escalating fast. Equipped with a strong customer support, technological support & research coupled with a prolific team of property advisors, such companies are becoming popular with educated clientele who expect a certain degree of professionalism.
Interestingly such platforms also offer value added services such as tax advisory, loan consultation & legal support to offer a hassle free transaction support service. With most of these brokerages, there is no chargeable service apart from what you will pay for the home.
The drawback of such brokerages is that they are primarily focused with Grade A builder & do not operate in the other verticals.
Hybrid Models
The overall real estate transaction space in India is open to new innovation & new models are emerging in the recent time.
One such model has been pioneered by Square Yards which is an integration of an extremely powerful online & offline medium. The real estate advisory offers a technologically advanced platform in the form of portal to search properties, which is complemented with strong task force of property advisors to offer property seekers cutting edge personalized services.
