After going thru negotiation process thru most of these builders, really wanna know if going thru a broker is the btr option? do they really know how much lower the builder can actually go, which many of us might not be knowing!!

what is the general brokerage they charge for the deal? is it flat or based on valuation of the flat!!

feedback.replies from personal experiences awaited!!!

Regards,

Chinmay
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  • Originally Posted by chinmay686
    After going thru negotiation process thru most of these builders, really wanna know if going thru a broker is the btr option? do they really know how much lower the builder can actually go, which many of us might not be knowing!!

    what is the general brokerage they charge for the deal? is it flat or based on valuation of the flat!!

    feedback.replies from personal experiences awaited!!!

    Regards,

    Chinmay


    the answer depends on the broker.he will try to maximise his gain so offer him a commision based on the amount of discount he gets.but the best thing is to
    enquire around the area and ascertain the prevalent rate then zero in on your choice.
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  • Originally Posted by abk
    the answer depends on the broker.he will try to maximise his gain so offer him a commision based on the amount of discount he gets.but the best thing is to
    enquire around the area and ascertain the prevalent rate then zero in on your choice.


    hey thanks for the reply!!!

    but do they agree to go for a flat amount like say 25K for a 35 lac deal? regd the discount, i m nt too sure how tht can be put across, ut surely a poniter wrth thinking of!!!
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  • My rules when dealing with a dealer:

    1.) Try going to a project first time with an agent/dealer. Always try to visit the project before you go with the agent. The reason is that you don't want to get into a situation where the agent claims that he/she is the first one to show you the flat (which makes them ask their genuine commission at a higher rate).

    2.) While it is ok to give them a budget, be careful. The agent/dealer has no reason to look for your interests. If I have a budget of 40 Lacs and after good negotiation a property could be available for 38L, then you don't want agent trying to pocket that 2L!

    3.) Do not hurry. Be firm and do not take any decision under pressure. Most dangerous one is "Get this deal done, else you won't get the flat of your choice".

    Having said this, I have been searching for a flat for last 1.5 years. Nothing seems to satisfy me! So don't take my opinion on its face value.
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  • Prioritize

    Originally Posted by punebloke
    My rules when dealing with a dealer:

    1.) Try going to a project first time with an agent/dealer. Always try to visit the project before you go with the agent. The reason is that you don't want to get into a situation where the agent claims that he/she is the first one to show you the flat (which makes them ask their genuine commission at a higher rate).

    2.) While it is ok to give them a budget, be careful. The agent/dealer has no reason to look for your interests. If I have a budget of 40 Lacs and after good negotiation a property could be available for 38L, then you don't want agent trying to pocket that 2L!

    3.) Do not hurry. Be firm and do not take any decision under pressure. Most dangerous one is "Get this deal done, else you won't get the flat of your choice".

    Having said this, I have been searching for a flat for last 1.5 years. Nothing seems to satisfy me! So don't take my opinion on its face value.


    General rules:


    1. Brokers r untrained/unknowledgeable .

    2. Main interest is commission than ur requirement or budget.

    3. They r generally pan walla/ kirana / even store.

    So , if u hire a broker first prioritize ur requirement

    MUST HAVE/ CAN HAVE/ BONUS

    c ur budget/ EMI capability,

    then update ur own knowledge abt the area, up coming
    developments and general prices.

    Once ur boots have sufficiently been used, i.e u r loaded then approach

    broker.

    Of course, people use brokers to avoid these things but in practicality

    they trade money instead of effort to get that house.


    Typically it takes few months or even year to buy a property.

    I took abt a year to buy land in my budget and location thro' broker.
    Take heart
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  • Two methods have been successful for me:

    1. Ask your friend to meet/speak with the builder, saying that he is a broker and has a couple of clients. Negotiate and see what commissions is he offering and the lowest rate

    2. First negotiate yourself with the builder and see what is the best price you can get. Now if you are not sure about the price, tell your family member /friends to talk to the brokers and see what is the best price they can get for the project. Then you will know which deal is more beneficial for you.


    Hope that helps!
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  • I am not sure why we need a broker for a new flat ? If you have finalize area then visit project office and try to negociate directly. You may need to pay unnecessary 35 to 50 K to broker and there is no gurantee of getting best deal.He may influence your decision. Almost all builders have tie up woth banks and bank person is always there. Contact him and try to get info abt latest deals from him.
    For resale as data is available with brokers and lot of paper work is necessary brokers may be useful. Try to contact society secretory he may provide you info abt resale flats.
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  • Broker tales!

    Originally Posted by mahesh pune
    I am not sure why we need a broker for a new flat ? If you have finalize area then visit project office and try to negociate directly. You may need to pay unnecessary 35 to 50 K to broker and there is no gurantee of getting best deal.He may influence your decision. Almost all builders have tie up woth banks and bank person is always there. Contact him and try to get info abt latest deals from him.
    For resale as data is available with brokers and lot of paper work is necessary brokers may be useful. Try to contact society secretory he may provide you info abt resale flats.



    Seen reports abt bldrs offloading flats at cheaper rates indirectly thro'

    brokers/consultants. c my earlier post for probable reasons.

    Seen news Ads abt the same. So why not c a broker advertising these

    Might save some money apart fm paper work
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  • Originally Posted by Sansei
    Seen reports abt bldrs offloading flats at cheaper rates indirectly thro'

    brokers/consultants. c my earlier post for probable reasons.

    Seen news Ads abt the same. So why not c a broker advertising these

    Might save some money apart fm paper work


    Yes even I saw adds of blokers and agents in websites for new properties. But I think they are for small builders who are saving money on advertisement and do not have good network. Some builders may be giving commision to brokers as sale is down. I am looking at it only from pure finance point that builder want to sell by keeping his profit intact & we want to buy at best possible rate but if broker is going to get 50 K from builder and 50 K from us then how this is possible.
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  • As far as my knowledge the brokers doesn't take anything from buyers, they get the money from builder after booking, but while dealing with broker we should tell them about our total budget instead of per/sq ft rate.

    Banks home loan executive are also having the tie up with the builders....these executives will atleast suggest 2-3 properties when you contact them for home loans... :)

    Now a days builders are trying hard to promote there sales.. through adds, brokers , exhibition and home loan executives.... :)

    i think builders are in more cash crunch now.... time to wait ...
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  • can anyone in Pune can introduce me to a property broker who have the attitude to help the clients? or even know what the client needs?

    discussing such topics are a waste of time and space.
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  • Since we are on the subject of brokers, let me have my thinking. Go for a negotiation with a builder thr' a broker and see how he negotiates. Just survey the area you are willing to have your investment. Negotiate hard alongwith the broker and try to go deep into the negotiation and builder perspectives and needs. Then compare your requirements like budget/area/affordable EMI's and loan factor etc. You yourself go for the negotiation with the builder (same or may be different builder) and see how you have improved in negotiations and technical knowledge of purchasing a land/flat/bunglow etc.

    Negotiate in such a way for 3 to 4 times and you will come to know the trends and technique of a good negotiation.

    Remember - Salesmen always "sells" the flat at his highest rate while buyer always have the last word and he buys at "lowest" possible rate. These are all relative terms person to person. You have to go through negotiation 3 to 4 times and use your contacts to the maximum.

    This is my experience. Next time you go for negotiation, you won't be demanding any deal thr' broker. For this, you really have to have patience and time to know the builders that you are a genuine buyer and not just a freak who has come just for an enquiry.

    Thanks -
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  • Flat deal thru broker (Yes/No) ?

    NO! Never!

    95% of Indian brokers are people, who are doing it either as side business or are not eligible for any occupation. In Delhi, I know a very few broker who are really good and professional, but others (95%) are those looking for some easy money.

    Most of them are untrained and gain experience thru doing business. Their primary objective is COMMISSION/BROKERAGE fee. U can easily compare a real-estate broker with a quake doctor of a village.

    Thats the only reason, this profession is still so immature and non-aligned. If you don't get any other route, then as a last option, take consultancy from brokers.

    Good luck
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  • Originally Posted by udayan.giri
    NO! Never!

    95% of Indian brokers are people, who are doing it either as side business or are not eligible for any occupation. In Delhi, I know a very few broker who are really good and professional, but others (95%) are those looking for some easy money.

    Most of them are untrained and gain experience thru doing business. Their primary objective is COMMISSION/BROKERAGE fee. U can easily compare a real-estate broker with a quake doctor of a village.

    Thats the only reason, this profession is still so immature and non-aligned. If you don't get any other route, then as a last option, take consultancy from brokers.

    Good luck

    I have visited a project Sai Marigold in PS thru a RE agent. The price quted was 2800 psf. however agent told me that we can negotiate it upto 2500-2600.
    Agent will not charge anything from me as they will get a commision from builder.
    So im in question that whether this is 2500psf rate is reasonalble for me?
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  • Broker's Charges

    Brokers normally charge 2% of the flat cost (not sure total cost or agreement cost) if you are purchasing.

    if you are looking a rental property they normally charge 2 months rent.

    For new flat I don't think you should contact broker...but if he can negotiate better than you then you can pay him on the saved amount.
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  • Yes its true.

    Visted a premier project. Price quoted very high on sales desk-5.5k,
    Had fore knowledge of agent price, asked if paid 50% or more cash upfront price came down by more than 1k and will be more NEGO. if u finally decide to buy.

    So friend, ask two + brokers and u get an idea what is the discounted rates available for a particular project.
    If u have bonus in terms of ready cash / group booking / good position
    u add it up at the broker price to bargain for further cut.

    Cheers
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