after a couple of months of serious home searching, i have reached the state that is depicted by my 'mood' today - 'confused'.
During this time, I have attended property expos, screened through numerous listing on popular property websites, contacted a few options and met a few property agents through acquaintances. All through the process, i have been inundated with phone calls from all and sundry. of course, i do take some of the blame, coz it was i who gave out my numbers.
Even when you have spelt out your requirements and budget, what i seem to realize, is that most property agents are only pushing their agenda. Now, it is quite understood that the property agent is doing no social service. This is his job, he needs to make money.
If he/she is promoting a particular builder, he would go all out and beautify the project, without talking of the shortfalls. Also, he make not make mention or would focus on the negative points of project that he is not handling. So also, a 'resale specialist/RTM' agent would focus only on these projects.
this seems to be case with both independent agents as well as larger firms.
But obviously, one needs to do their own homework, its hard earned money after all. but some good, transparent and unbiased advice definitely helps. someone who looks at things holistically and gives you the required options.
so, where does one find this advice? (in IREF?)
has anyone had good experience with agents and can refer them?
is there a list of reputed agents?
In general after some time dipping my toes in water I have had to re-align my definition of a good RE broker in India. As a general rule all have no accountability, reliability in terms of information quality and advice, hence as a profession with no entry barriers, this is anyway classed as bad. However 'good' broker in this backdrop means:
- someone who does not steal from you, i.e. does not run away with your cash.
- someone who continues to provide info and response to you even after deal is done
- someone who does not profit by colluding with other parties but is content to be happy with commission only.
- someone who is prepared to put in genuine legwork on your instructions to find information like license status, builder reputation etc
I think its an uphill task to find even above. Your criteria is just too far such as impartial advice, voluntary disclosure of conflicts etc, I will feel lucky to find one who fits even above, although they all claim to.
I am an IT person with decent knowledge of the gurgaon market. I do help some of my friends in making purchasing decisions. I am planning to start a brokerage company some time in the future. I can help you with some impartial advice and maybe finding some options as well as I have decent contacts with brokers. This is not bread and butter for me and being a senior IT person I am very particular about work ethics in whatever I do. I am right now in Bangalore, delivering a session at Deliotte and would be flying back on friday night. Drop me a pm if you need some help. I might not be able to revert before weekend though.
After talking to several brokers came across one broker I felt comforable with. I have done 3 deals in last 11 months with him . 2 resale properties and 1 builder property without going to India. He arranged some color componant for me which i send him later after the deal was done. He deposited the left extra money on my NRO