2. Real estate brokers:
2.1 Land brokerage:
They assist property owners, businesses and investors buy and sell all above four types of properties. Brokers are of two kinds who work for seller and buyers or for both.
It is a complex and multi-faceted niche in the business of real estate. Unlike most improved property, land value analysis is complicated by the multitude of uses to which a given tract might be put. The land broker will have knowledge about local land ordinances, zoning and environmental issues. Land brokerage is a highly specialized niche in the real estate business.
Seller’s brokers: They help find buyers through their professional contacts. Brokers’ tasks include: • Find a buyer for their land • Price their land competitively and sell their land within a specific time frame:Using comparative listings of recently sold properties, they can help you spruce up your property so it will look its best to customers. • Negotiate and deal with buyers: They assist in negotiations with the buyer, helping you get the highest price possible. • Help with paperwork, inspections and preparing for settlement.
There are 4 types of land transactions: • • • •
Farm lands. Undeveloped tracts of land. Land in transition & early development stages. Plots.
“The Indian Real Estate Brokerage market is unorganised, fragmented; while there are no published figures, we estimate that there are ~2,00,000 brokers across the top 10 cities of the country”, says Times Of India.
Buyer’s brokers: They provide above similar services for the property purchaser/ buyer. They know the local market. That means they can find a property that meets your most important criteria. They also compare prices which allows them to guide you to areas that are affordable. Buyers’ agents negotiate for you, pointing out reasons why the seller should accept a lower price. They help with the legalities of the process, including title search, inspection and financing. 4
