The registered real estate consultants in Mumbai have been the backbone for city realty market. These agents have played a key role in redefining the market what was once on the verge of collapse post the 2008 recession. However, the active role played by these consultants coupled with the rise of online real estate portals such as Housing.com has resulted in:
- Increased retail participation
- Better liquidity
- Improved growth prospects in this sector
- More jobs being created
- Better return on investment
- Excellent marketing platform
- Better transparency, etc.
Here are some prominent features of registered real estate agent or brokers in Mumbai –
Serves wide segment of people
The agents here have a very challenging task of serving people at all levels, looking for accommodation within varied budget sizes. While, it is a well-documented fact that Mumbai is home to some of the richest and mightiest in the country and houses several sky scrapers, bungalows and villas, it is also well known that it has the highest number of slums in India. The percentage of people living here below poverty line is immense and therefore the challenges encountered by the property brokers in Mumbai are also unique. These people not only have to cater to the needs of middle class and high income group but also have to look after the lower middle class segment and those living below poverty line in order to ensure home for all.
Have to encounter several glitches
There are many credible listed property consultants in Mumbai and other neighboring cities who have dedicated their life in the service of people living here. The exclusive list of such agents along with several others is available on Housing.com, world’s fastest growing property website that facilitates buying, selling and renting of all kinds of realty assets. Having said this, there are thousands of unverified realty agents at all nook and corners of Mumbai who have been instrumental in getting the bad name to agent fraternity. These people have committed several frauds including:
- Promising one flat to multiple owners
- Running away with the down payment money of home buyers
- Getting the booking done on the flat that has already been sold
- Selling the property that is under litigation, etc.
As a result, innocent home buyers are embroiled in court cases across the state of Maharashtra running form pillar to post to get their cases disposed of. This is easier said than done since most of the court matters in India, including Mumbai take on an average more than 3 years to get resolved. This is also true for consumer forums which have been formed with the sole purpose of quick dispute resolution. However, the large number of cases filed against property developers and builders for want of possession, execution of sale deed, etc. has meant that there is a huge backlog in these courts and the cases are taking longer than expected to get resolved. Nonetheless, the evolution of web portals in the form of Housing.com has made sure that people across the country now have access to authenticated and verified realty agents.