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Overview of Real Estate Sales in Collaboration with Channel Partners/Brokers

In modern times, real estate sales are usually streamlined by the cooperation of various players in the market. And one such association is between real estate developers and channel partners or brokers- this is why in recent years, real estate sales in partnership with brokers and channel partners have achieved enormous popularity in India.

These associations help to bring together purchasers and sellers, allowing them to make informed choices regarding the purchase or sale of real estate properties. Moreover, when this happens, the developers get access to a broader client base, and the channel partners can gain a commission on every deal they facilitate. Keep reading the article below to learn more about the real estate sales process in collaboration with channel partners and brokers.

Advantages of Collaboration between Real Estate Developers and Channel Partners/Brokers

The cooperation between real estate developers and brokers or channel partners presents several advantages to both parties. For developers, channel partners assist them in reaching a wider audience and inducing more sales. In addition, channel partners and brokers greatly comprehend the market and can provide useful insights to developers on customer preferences and trends.

Moreover, for channel partners and brokers, working with real estate developers provides them access to a diverse range of properties to market. They also make a commission on every deal they perform, which can be a considerable source of income. Below are some benefits of buying a property with channel partners or brokers.

  • RERA Approved Properties
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One of the most considerable benefits of working with a channel partner or broker is the guarantee of getting RERA-approved properties. RERA (Real Estate Regulation and Development Act) is a regulatory institution that guarantees transparency and responsibility in the real estate sector. In addition, RERA-approved properties guarantee customers that they are investing in genuine and legal property.

  • Site Visits and Project Demos According to Your Demand
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One of the principal functions of a channel partner or broker is to organize site visits and project demos as per the customer’s demand. These demos and site visits help customers better understand the property’s features. It also allows customers to evaluate the property’s location and proximity to significant amenities such as hospitals, schools, and shopping centers.

  • Discounts and Best Deals
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Brokers and channel partners have access to an extensive  channel partner network of developers and property owners. This network allows them to offer buyers exclusive discounts and the most profitable deals available in the market. These discounts and deals can help customers save substantial funds for real estate sales and marketing.

  • Scouting the Finest Location for You
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Eventually, channel partners and brokers have a vast understanding of the real estate market and can help buyers determine the most suitable location for their investment. They consider aspects such as location preferences, buyer’s budget, and future development prospects to scout the most suitable location for their customers.

  • Offering End-to-End Real Estate Service
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Channel partners and brokers deliver end-to-end real estate marketing services to their customers, like website assistance and access to a real estate broker app. They assist customers with everything from property selection to legal formalities and documentation. This assistance guarantees customers make informed choices and have a hassle-free buying experience.

How do Channel Partners and Brokers Work with Real Estate Developers?

Real estate developers work with brokers and channel partners in numerous ways. They could sign an exclusive contract with a channel partner, which provides the partner with sole rights to market their properties. Furthermore, they could work with considerable channel partners and brokers, letting them compete with each other to market properties. In addition, the role of channel partners and brokers is to perform sales and generate leads for developers.

They employ different marketing strategies to reach potential clients, including social media, digital, and offline marketing. They also arrange events and exhibitions to showcase properties and draw buyers. Once a customer is interested in a real estate property, the broker or channel partner will schedule a site visit and help the customer purchase. They will also support the customer in obtaining legal documentation, financing, and other services required to complete the deal.

Conclusion

In a nutshell, cooperation between real estate developers and channel partners/brokers is essential to real estate sales. It helps both parties and assists in expanding developers’ reach while providing channel partners and brokers with access to an expansive range of properties to market. And with the right association, developers and channel partners/brokers can make a powerful team that can improve sales and earnings in the real estate market.

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Breaking Down the Real Estate Budget 2023

The Union Budget 2023 has drawn up measures of growth and progress that will impact various industries, including the real estate sector. The finance minister presented the fifth Union Budget, announcing the foundations of Amrit Kaal – a 25-year lead-up from 75 years of to 100 years of Independence that was announced last year. The Budget 2023 has set a positive roadmap with a promising growth outlook for the real estate market in India, focusing on urban planning and sustainable growth.

In this blog, we will analyze the impact of the Union Budget 2023 on the Indian real estate sector and discuss the favorable measures announced that will benefit the industry.

Key Takeaways from the Real Estate Budget 2023

The Budget 2023 has highlighted several measures that will impact real estate development in India. Experts have given mixed opinions on the budget’s impact, but the favorable measures announced have drawn attention to India’s real estate services industry. The followings are the key takeaways from the budget and their impact on real estate:
  • Economic Boosters
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The Budget 2023 has focused on economic boosters to revive the growth of the Indian real estate sector. It has announced tax relief measures and additional funding for infrastructure development. The budget has also focused on economic boosters, including measures to increase exports, create new jobs, and enhance the startup ecosystem. The budget has announced Rs. 5.54 lakh crore allocation for the infrastructure sector, which is expected to support economic growth and create more business opportunities. These measures are expected to witness real estate growth in India, as it relies heavily on economic growth.

  • Emphasis on Urban Planning in Tier 2 And Tier 3 Cities
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The budget has emphasized urban planning in Tier 2 and Tier 3 cities, boosting real estate development in these areas. The government’s focus on developing these cities will lead to better infrastructure, attracting more investments in the real estate sector.

The government has allocated funds for the development of smart cities, affordable housing schemes, and infrastructural development in these regions. Moreover, the government has increased the allocation for the PMAY-U scheme by almost 66% to Rs 79,000 crores in the Union Budget 2023. This is expected to boost the overall Indian real estate sector and attract more investment.

  • Emphasis on Affordable Housing
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The budget has announced several measures to promote the implementation of affordable housing schemes in India. The Pradhan Mantri Awas Yojana (PMAY) has been extended, and additional funding has been allocated. This affordable housing scheme will provide reasonable housing to millions of Indians. PMAY houses are a crucial aspect of this scheme, and the government has made efforts to ensure the completion of the remaining 1.5 crores of PMAY houses. Therefore, the real estate industry is expected to benefit from the increased demand for affordable housing.

  • Assisting Cities with Municipal Bonds
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The budget has announced that the government will assist cities in issuing municipal bonds to raise funds for infrastructure development in India. The government has increased the limit for the issuance of such bonds significantly. This measure will attract more investment in the Indian real estate sector, as better infrastructure will lead to higher property prices. It would significantly impact the Indian real estate sector, as improved infrastructure will increase demand for real estate in these cities.

  • Update on Infrastructural Development
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The Budget 2023 has allocated additional funds for infrastructure development in India, which is expected to boost the real estate industry. Better roads, airports, and railways will improve connectivity and attract investment in the Indian real estate sector.

The government has allocated Rs 5.54 lakh crore for infrastructure development, which includes Rs. 1.97 lakh crore for the development of National Highways. The use of prop-tech and real estate services will be a crucial factor in developing infrastructure projects, and organizations, such as Beyondwalls, are expected to play a crucial role in this development.

  • Ease of Doing Business
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The budget has announced several measures to ease the process of doing business in India. Simplifying the GST process and other tax reliefs will encourage investment in the Indian real estate sector. The government has announced that the filing of returns will be simplified, and the registration process for new businesses will be made easier.

The government has also proposed reducing the time for obtaining construction permits to fewer days, which will help reduce the time taken for project approvals. Real estate proptech and a  real estate marketing agency like Beyondwalls will be able to provide faster and more efficient services to developers, which will help in improving the ease of doing business in the Indian real estate sector.

Conclusion

The Union Budget 2023 has set an optimistic roadmap for the real estate industry. The favorable measures announced will boost the industry and promote sustainable real estate growth in India. The emphasis on affordable housing and urban planning in Tier 2 and Tier 3 cities is expected to attract more investment in the real estate sector.

The government’s focus on infrastructure development in India and ease of business will also benefit the industry. The Budget 2023 has laid the foundation for the growth and development of the real estate industry in India, which can be enhanced by using real estate sales and marketing.

As a leading real estate marketing agency, Beyondwalls is well-equipped to provide innovative solutions and protect developers’ services, helping them navigate these changes and grow their businesses. If you want to leverage the benefits of the Union Budget 2023 and grow your real estate business, reach out to Beyondwalls for a comprehensive range of  real estate sales and marketing solutions today!

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2024 Real Estate Market Outlook: What to Expect from the Coming Year

PropTech experts anticipate that the real estate industry in India, which has been booming since the pandemic, will maintain its upward momentum in the first quarter of 2024.

According to Magicbricks Research on real estate proptech, the residential demand in the top 8 Indian cities is predicted to expand by over 15% YoY by the end of 2022, and the overall picture for 2024 seems promising.

The real estate industry was recovering well after the pandemic but succumbed to the outgoing war that brought about global recession. For Indian real estate, it meant an increase in raw materials and costing, which ultimately increased house pricing, given the developers’ profit margins. This also resulted in an increase in home interest rates. All of this has created a supply and demand gap that will be seen this year.

  • Property Pricing Trends Pune
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Many real estate market developers have held from raising home rates over the past few years due to poor demand. However, rising input costs affect the construction industry, and in 2022, the entire property rate will rise by 5-7%.

The increases in real estate prices will be greater next year, at least by 8%. Some developers believe this may not have as large an impact on demand. Younger generations prefer to own rather than rent homes, and this shift in perspective will benefit real estate businesses.

According to Square Yards research on  proptech solutions, there will be considerable demand for real estate in all tier 1 cities. In Mumbai, Delhi, Noida, Bangalore, Hyderabad, Gurgaon, and Chennai, the residential demand would be influenced by the reopening of offices and increased economic activity.

Due to their rapid infrastructure and real estate technology development, other cities such as Ahmedabad, Lucknow, Kochi, Indore, Agra, Varanasi, and Gwalior are also anticipated to experience strong demand.

Hiring in the real estate market grew 10% in November, both month over month and year over year, indicating that the sector expects better times to come.

  • The Effect of the War on Housing Market Predictions 2024
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Concerns about the rising cost of raw materials in light of the current conflict in Ukraine have been expressed by developers from various Indian metropolises. Due to the fact that the price of steel has increased by more than 120% and the price of cement has increased by about 40% in the previous two years, developers in Maharashtra and Delhi NCR have threatened to halt the building of ongoing residential projects.

According to developers, the price of the building has gone up by at least Rs 500 per square foot. Due to this, residential constructions are unprofitable. Many developers pre-sell their units so they can’t later increase the price. They are now left with no choice but to suspend building until the government steps in. Developers could burden home purchasers further and reduce the desire for homeownership in general if they decide to raise the price of housing units.

Construction expenditures account for 30–40% of the overall cost of a housing unit in real estate. Therefore, every increase has a negative effect on the selling price.

  • Increase in the Rate of Interest
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Interest rates have a big impact on real estate growth in India as well. If you’re considering obtaining a mortgage to purchase a home, it is helpful to utilize a mortgage calculator to analyze interest rates. Changes in interest rates can have a significant impact on a person’s ability to purchase a residential house. This is because mortgage application fees drop when interest rates do, increasing demand for real estate and raising prices.

What Homebuyers Are Feeling about the Industry

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Two years after the pandemic, the country’s real estate market grew in 2022 as customer confidence improved due to record-low lending rates, government initiatives, and discounts provided by builders, according to NoBroker’s annual report.

Investors and homeowners were drawn to the business sector in addition to the residential sector. According to the report, the falling value of the rupee also encouraged non-resident Indians (NRIs) to invest in India.

The demographics and data show that, at 36% and 37%, respectively, persons aged 25 to 49 and over 50 invested the most in property purchases. In 2022, 53% of private sector employees by profession purchased a home.

Sales Trends and Housing Market Prices in the Hottest Micro Market

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  1. Bengaluru: Whitefield, Electronic City, Krishnarajapura Sarjapur Road, Hennur-Kempegowda Airport Road
  2. Chennai: Madipakkam, Perambur, Ambattur, OMR, Pallikaranai
  3. Delhi-NCR: Golf Course Extension, Dwarka Expressway, Sector 150 Noida, Indirapuram, Dwarka
  4. Hyderabad: Kukatpally, Miyapur,,Kondapur, Gachibowli, Kokapet Narsinghi
  5. Mumbai: Thane West, Kharghar, Panvel, Malad West, Dombivli
  6. Pune: Wakad, Hinjewadi, Hadapsar, Kharadi, Baner

The real estate market was expected to grow through 2023, according to the graph on people’s attitudes toward home ownership in urban areas. It offers a fantastic restart for the industry, but in 2024, it will be essential to determine how much it will last.

Conclusion

Real estate demand and supply can be challenging to balance. More saleable assets require time, labor, and effort to create. It’s not always possible, and even when it is, the supply might not be able to keep up with rising customer demand, as was the case during the 2021 housing market boom.

The customer can determine the ideal time to buy or sell a property by understanding the fundamental economic principle of supply and demand. Brokers and digital marketing for real estate in India can better anticipate and respond to these forces by being aware of them.

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Real Estate Sales

Top 4 Advantages of Having Strong Channel Partners

When it comes to business expansion in real estate, there are several steps that you can take in 2023- some of these include hiring more staff, outsourcing work to other businesses, or collaborating with a BPO provider call support. An alternative choice is having a channel partner- a company or real estate broker platform that aids in promoting and selling your goods or services.

In the realtor business, partnerships and real estate sales are essential. Having strong channel partners will not only help you access resources and networks easily but also boost your business by improving your business’s visibility in the market.

Read on to explore how your company can grow to new heights with the support of channel partners and  real estate marketing.

  • They Help by Sharing Sales Responsibilities
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Channel partner networks can assist you in establishing contact with potential new clients who may not be familiar with your company. They can aid in spreading the word about your company to a huge new audience by informing their clients about your goods or services. Even after a customer has signed a contract with you, your partners can still sell them better properties and projects since they keep ongoing ties with their contacts. It’s a present that never runs out.

  • They Help in Filtering Out the Right Prospects & Increasing Conversion Rates
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Your lead conversion rate can also be raised with the aid of channel partners. When you collaborate with a business, they frequently have a sales team of their own that can promote your goods or services to their clients. This can be very advantageous if you sell a complicated good or service.

You can generate more leads with the assistance of some  channel partner networks that offer lead-creation services. You may improve the number of high-quality leads you have access to by using these services. As a consequence, you’ll be able to close more sales, which will help your company expand more quickly.

  • They Help You with Expanding Brand Awareness through New Channels
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The ability to increase brand recognition is one of the key advantages of working with a channel partner. When you partner with another company, you essentially form a team to market your goods or services. This implies that your brand and your products will be known to their customers. Channel Partners can also assist you in expanding your market reach.

You can easily and rapidly increase your reach without putting in more effort by collaborating with a business that already has a presence in these markets. A good internet presence is crucial in the commercial world of today. Your online presence can be improved by channel partners who advertise your goods and services on their websites and social media pages.

  • You Can Use One Broker Network to Sell All Projects
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Each lead is completely identified when you try to sell directly through channel partner networks or  real estate broker apps. The potential clients already have a source of reference through someone they know and trust when you sell your projects through a partner program. As a result, they are more likely to trust your brand, which should increase your conversion rate.

Building closer connections and utilizing a single, unified broker app with your clients is another fantastic advantage of working with channel partners. When you collaborate with a business, they are more likely to help you sell your goods or services to their clients. It implies you will have the chance to establish rapport with these clients and give them the greatest possible experience.

Conclusion

The five advantages discussed above convey how and why working with channel partner networks is beneficial in today’s world. Companies that cultivate strong relationships with their channel partners benefit from a wide range of advantages, such as greater customer insights, improved efficiency in operations, an increased ability to respond quickly to changing markets, and many more.