The
Attributes of Today's Best Real Estate Brokers
By Mr. Sukhdeep
Aurora, Chief People Officer - ANAROCK Property Consultants
As
an industry in the midst of major churn, Indian real estate is now headed
towards yet another crossroad. The previous crossroad – the industry shakeup
initiated by the rollout of RERA – necessitated changes in business models and
traditional cash flows of developers. This one will demand newer skill sets and
be all about setting tech-savvy, erudite, professional brokers head and
shoulders above the kind that has dominated the industry so far.
In
terms of career growth, the sky will be the limit for a new breed of brokers
who have taken a conscious call to evolve; to up-skill or perish will be two
choices left to those who have not.
Technology
continues to disrupt a sector that is already en route to
achieving unprecedented transparency levels on the back of the latest policy
changes, and the Indian real estate sector is also gaining greater global
exposure. More than ever before, foreign investors are focusing on the
country's housing industry, along with NRIs who have been exposed to
international standards of doing business. These new dynamics make it
imperative for aspiring and existing residential real estate brokers to operate
with far greater professionalism, polish and technological skills than were
required before.
What
top real estate consultancies now look for
When
it comes to becoming employable in the top-ranked residential consultancies in
India today, aspiring property agents must go beyond being just smartly dressed
- they must also display better 'soft skills', be tech-friendly, and able and
willing to absorb and project a global code of dealing with customers.
Individuals who display these competencies clearly stand the highest chance of
getting hired by top-notch property consultancies firms today.
Cognizant
of the fact that some of the required skills must also be imparted on the
ground, the best property consultancies invest in training their employees by
offering in-house ‘finishing’ courses. These courses are also useful in
identifying high-potential candidates for leadership positions. Meanwhile,
existing employees may be encouraged to take up relevant courses at real estate
accreditation bodies like RICS.
A
new breed of property brokers
Gone
are the days when just anyone with a fire in their belly could call themselves
a real estate broker. As the industry makes rapid strides forward in becoming
more regulated, it is now mandatory for brokers to either have a license to
operate in the industry or bow out. However, a license alone does not make a
good broker. Home buyers and investors in Indian real estate now expect much
more than just basic services from brokers today.
Professionalism
and integrity are the minimum requirement of the best property brokers today.
Integrity, both as a personal quality and a core value of the firm a person
represents, means uncompromising transparency and scrupulous honesty. A broker
of integrity will not inflate prices for any reason, and in fact highlight
opportunities for negotiating lower prices where they exist. Such a broker will
present a client with a full spread of options, offer complete information on
every option and on all aspects of a transaction, and keep the client as the
first and overweening priority.
Integrity
apart, adequate soft skills can also no longer be dispensed with. The Indian
stereotype property agent - crass, hectoring, juggling multiple phones while
communicating in locally-flavoured 'Hinglish' and giving the customer
manipulated facts or outright lies - is a dinosaur in today's market
environment. A high degree of soft skills - which, by definition, are personal
attributes enabling a person to interact effectively and harmoniously with
others - are what define today’s most successful property brokers.
What
do these soft skills actually involve?
· A good dress sense
· A more than basic command
over language (both spoken and written)
· The ability to give clients
undivided attention
· Patience while presenting
all the available options corresponding to the client's exact requirements
· Advanced negotiation skills
· A pleasant demeanor
throughout any interaction, and
· Not least of all,
tech-savviness.
Tech-savviness
as a differentiator
Today,
catering to client's needs involves engaging them in newer ways, primarily via
leveraging technology. For example, the ability to present the merits of
various property options in the company's database via a visually-appealing app
gives a new-age broker a decisive edge over his outdated predecessors. However,
it’s not just about apps and advanced database integration - in today's highly
connected age, the quality of a broker’s personal online presence also matters.
Regardless
of whether we are talking of top-notch real estate consultancies interviewing
candidates or busy investors about to meet an agent, a person's LinkedIn and
Facebook profiles will very likely be inspected well before the first
interaction. It therefore makes more than just basic sense to ensure that such
profiles exist, that they are well articulated and developed, and in every way
possible reflect a high degree of professionalism. Being part of industry
groups on LinkedIn and frequently participating in discussions in a credible
and meaningful manner also adds to a broker’s ‘social clout’, reflecting a
desirable depth of seriousness and knowledgeability of the latest industry
trends.
In
short
With
the fast-evolving expectations of home buyers and investors, it has become
necessary for brokers evolve in tandem into high-grade professionals who are up
to speed on matters of personal presentation, technology and industry trends.
The market forces that define Indian real estate today will definitely also define
the career path of such brokers rise in the coming years - and the country’s
top-rated property consultancies will go all out to hire and retain them.
About the author..
Mr. Sukhdeep Aurora, Chief People Officer - ANAROCK Property Consultants
Media Relations
ANAROCK
Property Consultants Pvt. Ltd.
(Formerly
Jones Lang LaSalle Residential Pvt. Ltd.)
M :
+91 9657129999
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