How Association Of Real Estate Agents Has Helped Real Estate Agents In India?
Association of Real Estate Agents (AREA) has been incorporated as non-profit organization intent to work for the welfare of the Real Estate Agents and to help and support them in every aspect where they can augment their business through being a member and getting many benefits which will enhance their credential in the market. As per the latest survey report it’s have been found that real estate is one of the largest booming sector and second largest employments providing industry in the world. Where real estate agents are playing a vital role in this industry or we can say that real estate agents are the back bone of this industry.
The main objective of AREA is to bring all the real estate agents under one cluster and get united, maximize their social and business reach, to get more and more business and earn a handsome amount which is their genuine rights. Area will abide its associate members under bylaw which will be accepted and to be obeyed by each and every individual’s member. The main objective of area is to foster such a structure and to make such a system where zero level problem suppose to be arisen, and if it happen then AREA will provide all kind of supports to its associate members such as brokerage, legal ,website and annual return.
Why Association is Important
When a group of people working in a same profession, facing the common problem and every individual have their own working style and follow their own rules and fighting their problem by their own. Then in such condition an association is the only option and way-out to overcome all the odds and bring everything under control and systematic.
Genuine Problems Real Estate Agents are facing in their businesses and their permanent solutions provided by AREA.
Brokerage – Everybody run its business to earn profit or to make money. The earning of a real estate agent is completely dependent on the brokerage which they charge to both the parties individually the buyer and seller. To get the deal done they do a hard work and suppose to show all kind of stuffs to their client which matches their requirements. But once the client got the flat, shop, office or anything which they are looking for they start being negligence to pay them their brokerage charge they start doing dilly- dallying.
Solution – If any of the associate members of AREA will come across such problem, then under those circumstances AREA will take a stand for their associate member. AREA will provide a legal document to its member Agents which will be containing certain points, terms and condition regarding brokerage, and will be mutually signed by both the parties before availing their services. This will assure the agent about their brokerage paid by the clients. If any breach of agreement suppose to be happen in terms of brokerage after getting the deal close then in such condition AREA will take care of that and a legal notice will be serve to the party regarding the brokerage; and AREA will not charge any hidden cost for serving this legal notice to the party; apart from the association registration fee which is supposed to be paid yearly.
Rent Renewal – As per the standard rent agreement the tenure of a rent agreement is valid for eleven months and it should get renew or a fresh agreement suppose to be made after each tenure. But unfortunately once both the parties (Landlord and Tenant) get into an agreement they don’t come for renewal for the next due date. It gets done by them itself with their mutual consent. The estimated data shows that the percentages of such cases are nearly 90% is there. Under such situation a real estate agent carries a big loss every year.
For example:- If a Real estate agent close 10 deal in month @the rate of Rs. 10,000/- brokerage than in a year they are bearing a loss of Rs. 12,00.000/-
Solution – To overcome this big problem and to cover a big loss, AREA will provide a exhaustive prepared terms and conditions to all the associate members which is been prepared to make sure that their renewal l’ll be get done by them if the party is continued in the same premises, flat, shop or offices. All the parties have mutually signed the documents before getting or providing any services.
Website – Though we are living in 21st century and the whole world is running very fast where people don’t have time, everything is being fast and easily accessible and reachable to mankind. People are looking all the services to their door steps. In this fast pace world we have found that most of our real estate agents are running their businesses with a proper individual website. Which day-to-day getting them out from the market and business, because they are not all visible to the most of the real seekers after having good stuff of property.
Solution – To help its associates member AREA is providing a full fledge website to every individual associates member, which will help them to maximize their reach in and around, they will be visible to everyone from any corner of the world. They can Post their unlimited property, maintain their own cliental data, and maximize their reach and business.
The minimum cost to maintain a real estate website for a year, come around Rs. 15,000 to Rs. 20,000/- thousand. But AREA is giving it free to all its associate members in the same amount paid for the association membership fee.
Property Website – To walk along with the time and to full fill the demand of the time almost all the real estate agents are dependent on professionals property website, to list out their property and to get visible in the market, and to availing such services they are paying a good sum to them for listing their own property and using their cliental data base.
Solution – For the help of our members AREA has solved this problem and providing a full fledge property website which will be completely free to all its member and unlimited posting, search and cliental data base will be available for them. This will be maintained and updated by the highly professional people. No charges will be ask from the associate agents as all the services are included in the association registration fee which is payable at one time.
Annual Return – One who are into business and paying their IT returns on time they all will be in the good book of government and they have their own credential in the market. Considering it one of the vital parts to run a successful business AREA is providing a support of Chattered Accountant (C.A.) to all its associate members who will take care of their IT returns every consecutive year. For the said services a bare minimum cost will be chargeable to the members which can be bear by their pockets. This will show their credential and lawfulness in the market and business.
Get to Gather – As there is a very famous saying in the market the more you become visible the more you become recognizable. The real estate business is completely based on networking and accessibility the more your contact, network and visibility will be there the more you get business. Understanding the need of the agents and considering I beneficial for the business AREA has planned such a program where all the associates’ agent will get a chance to augment their network and social contact, as well as their reach to maximize their business and profits.Every year they will be attending 7 meeting, which would be divided as follow-
City Level meeting – 4 times in a year.
State Level meeting – 2 times in a year.
National Level meeting – 1 in a year.
Respect and Recognition
Membership of Recognized National Association.
Membership Identity Card.
Recognition within Industries peers and associates.
Working and Structure of AREA
To run a successful and ethical organization a systematic and structured hierarchy is very essential. It is important for every individual from top to bottom; that they understand their role and responsibility, their work and to whom they have to report.
A standard organizational structure plays a vital role in the organizational growth and to get the things done on time with maintaining complete decorum. Standard organizational structure is a back bone of any successful organization.
Though AREA has been incorporated for the welfare of the real estate agents; keeping our motto and objective in mind we have formed such an organizational structure where it will define role and responsibility of every individuals.
There will be only one committee of board of directors which will be headed by _ numbers of people and they will be sitting in the corporate office of the association which is located in Mumbai.
Initially AREA will start its operation in the thirteen states of India; where a local governing body will be formed. The committee consist of six members who will be responsible for day to day affairs of AREA in that particular region such as; resolving all sorts of local problem with the consent of Board of Directors, maintaining accounts, taking care of local expenses, and organizing local meeting. The complete role and responsibility will be assigned according to their position in the committee.
Business Prospects and an Opportunity to Maximize the Earning
AREA will help its associate members to maximize their earning not only through renting and selling out the flats, plots and shops. But by introducing binomial structure in the association; this binomial structure will provide a tremendous opportunity to all the associate members to earn a good sum by introducing a new agent in the association.
For further details about Membership benefits or any