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Are Brokers Necessary in real Estate Deals?

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Are Brokers Necessary in real Estate Deals?

Last updated: November 24 2011
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  • Are Brokers Necessary in real Estate Deals?

    This I am writing based on my personal experience & inputs received from my other friend's experience. One should eliminate all mediators while buying an under construction property and deal directly with builder. We are not here to discuss any specific example or anything. But its better we buy directly through builder w/o involving any mediator. This will give more money to the builder as he has no need to pay any commission to anyone. A decent builder will give good quality when he has good cash flow. Also, paper work is reduced which otherwise a builder has to maintain. More, the staff requirement will also reduce. For a salaried person who is always involved in office work from 9AM to 7PM has no time to run after the mediator to give him the rest discounted money. These mediators don't understand how tight budget a MIG person has and how difficult it has been to manage. I don't say all such people are not good, but my experience has not been very good. I talked to my few friends, they also facing same problem. It was to be a great deal if we all would had purchased in the same project & would had done a group booking. I'll advice buy directly through builder. Little costly, let it be. But you avoid unnecessary tension and pay more attention to your family & work. What is the use that you don't get paid the money which you were supposed to and somebody else is enjoying the profits who should not be in the picture at all.
  • #2

    #2

    Re : Are Brokers Necessary in real Estate Deals?

    Work with good broker who provides good service even if he is sharing less commission than others. Or else deal directly with builder. The problem comes when we overlook everything else and only look at the commission that broker is promising to share.

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    • #3

      #3

      Re : Are Brokers Necessary in real Estate Deals?

      Quite agree .

      Often, greed leads to tension/unnecessary hassles .


      Originally posted by vinaybhatia View Post
      Work with good broker who provides good service even if he is sharing less commission than others. Or else deal directly with builder. The problem comes when we overlook everything else and only look at the commission that broker is promising to share.
      Please read IREF rules | FAQ's

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      • #4

        #4

        Re : Are Brokers Necessary in real Estate Deals?

        Originally posted by MANOJa View Post
        Quite agree .

        Often, greed leads to tension/unnecessary hassles .
        Normally a good broker would not work in less then 1% scenario , I have seen a lot of ppl on this forum also who are asking if they have got the pass back from their respective brokers or not ?

        If you want services , then leave them some money so that they also feel like providing services....

        Normally what i have seen is if you want a very good location in a prroject , broker promises you that location but with a little less discount.

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        • #5

          #5

          Re : Are Brokers Necessary in real Estate Deals?

          No broker in my opinion. Let them earn your money...

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          • #6

            #6

            Re : Are Brokers Necessary in real Estate Deals?

            Many times, in our quest to earn maximum discounts, we tend to squeeze the Brokers to a breaking point & maybe, this leads to most problems .

            Above is true for Brokers who would be wanting to operate in an fair & healthy manner, but such Brokers r far & few & most operate in a deceitful mode & r corrupt to the core .


            Originally posted by amit.bhalla View Post
            Normally a good broker would not work in less then 1% scenario , I have seen a lot of ppl on this forum also who are asking if they have got the pass back from their respective brokers or not ?

            If you want services , then leave them some money so that they also feel like providing services....

            Normally what i have seen is if you want a very good location in a prroject , broker promises you that location but with a little less discount.
            Please read IREF rules | FAQ's

            Comment

            • #7

              #7

              Re : Are Brokers Necessary in real Estate Deals?

              Broker or no broker

              Its better to buy directly from builder, as you would not like to experiment in searching a good broker.

              There are brokers corporatised a little like allcheckdeals.

              Otherwise better to avoid unnecessary hassle.

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              • #8

                #8

                Re : Are Brokers Necessary in real Estate Deals?

                I think its better to go through broker may be a big one rather than directly dealing with builder. in any case property would be allotted by builder only. Its just that one can get some discounts while going through broker... something is better than nothing... either 1% or 2 %.. at least some discount would be there... either adjusted in BSP or through cash/credit note...

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