Brokers in the limelight

Say, “real estate broker” and what comes to mind? A middle-aged man, maybe in a safari suit, holding a bag under his armpit; and a desperate look seems like a common thread too. Today, this ilk of brokers, like the stock brokers are finding it tough to survive, thanks to the onslaught of online websites. Yet, for many of us, it is important to have a “human” element, which is the ubiquitous broker to show us around the house.

There is usually no specified qualification required to become a broker which is why we find people from all walks of life becoming a full-time or part time realty broker, like the LIC agent. And now it looks like the Tata’s are planning to do their bit to give these brokers their share of respect.

Tomorrow is World Brokers day (yes, such a day exists) and Tata Housing Development Company is introducing a social platform for brokers, Bandhan. Its aim is to bring in a standardised and transparent brokerage practice in the largely unorganised five lakh-strong real estate broker community in India. It will be both online as well as offline, and will connect, educate, train and certify the broker community, being set up with the Royal Institution of Chartered Surveyors (RICS). Apart from training, the platform will enable brokers to list the entire secondary market housing stock to be showcased across the country.

Now this is indeed a good thing to happen to the fledgling realty broker community and will be a true yeoman service. But the question remains – are people buying homes?