IREF® Real Estate in India - Property Discussion
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Sub-Forums : Real Estate Group Buying

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 Real Estate Group Buying
A unique concept that facilitates buying real estate in a cost effective and efficient manner through the power of group buying. In a group setting, buyers can avoid real estate brokers (save commissions) and negotiate a better/discounted deal with the builder/developer.

How does Group Buying work? Potential buyers connect with one another through a common platform, and form a group. The group then approaches the builder with a couple of orders and negotiates for possible discounts. The builder, sensing a good opportunity to sell a number of his properties, agrees to the discount. Typically, there is negotiation on discount but the discount is higher than what is offered in individual cases.

What are the advantages of Group Buying? As individuals, buyers cannot negotiate for a better deal since it will not make economic sense for developers. The transaction cost with each individual will be high for developers. Also, an individual buyer will not have bargaining power in a market dominated by real estate developers. By coming together and forming a group, the individual buyers can increase their bargaining power and hence will be able to bag a better deal.

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