by Suman Gupta
RERA chief at India’s first National convention for brokers
January 2018: SAI Estate Consultants (SEC) spearheaded India’s first National Convention for brokers in association with CREBAI (Confederation of Real estate brokers association of India) and launched a first-ever application ‘Wajood’ to unite the broker community under a single platform and revolutionize the way broking is approached in the real estate industry. Inaugurated by the Gautam Chaterjee –Maha RERA authority, the motive of the event is to unite the broker community, improve dynamics, assist brokers in their growth, standardize brokerage commission across India and address pain points.
The brainchild of Amit B Wadhwani, Director, SEC; the event witnessed 1500+ brokers coming together along with dignitaries, bureaucrats, celebrities and thought leaders in the industry on the 9th of Jan’18 at Sahara Star, Mumbai. Industry veterans like Amit Wadhwani, Director SAI Estate Consultants , Niranjan Hiranandani – National President NAREDCO, Mayur Shah – President MCHI and government officials came together to address the challenges of brokers post RERA and standardising the broking commission for all brokers.
Amit Wadhwani said, “There have been instances wherein one had to forego as high as 25% of our annual earnings only because developers did not honor the commitment of paying brokerage. The launch of Wajood by SAI Estate Consultants is slated to change the dynamics between the developers and the channel partners and how brokerage business is seen as a whole. Digitalization of the broking community is critical as it has the potential to connect with brokers on the go.”
CREBAI President, Vikkram Mehta, said, “I request the government to approve a minimum 2% brokerage mandatory on sale or purchase of realty throughout India. If the valuation of a property is more, a minimum of 2% should be paid or else it can be in the range of 3-5%.”
Gautam Chaterjee, MahaRERA Chairman commented, “RERA registration comes with the status for brokers in the industry There are above 1 lakh brokers in Maharashtra but only 12,000 are registered. I appeal to all the brokers to register and have that status as it will help you to generate more revenue in future. RERA registration is the license symbol for all brokers, projects and developers.”
SAI Estate Consultants, one of India’s first RERA complaint real estate broker, understands the challenges faced by broker partners on a day-to-day level. Sai Estate Consultants’ association with this event is a natural one as it aims to improve the industry dynamics and assist fellow brokers in their growth. SAI Estate in collaboration with Mumbai cricket club is bringing a cricket series – Mumbai Masters Premier League T20, specially dedicated to Mumbai. The same will be launched on 14th January, 2018.