RERA & the growing importance of consultants

Not much before the Act
The importance of agents or consultants in an organized real estate market is pivotal. The consultants act as a compact bridge between the buyers and sellers and help in facilitating smooth transactions and thereby equilibrate the market forces evenly. However, the importance of the consultants before the introduction of the revolutionary reform RERA (Real Estate Regulatory Act) has not been so much prominent and given due importance. However, it is matter of fact that around 75% of sales in the primary market are driven by the real estate consultants.

Changed scenario & conducive environment
The introduction of RERA has changed the scenario and strengthened the role of the real estate consultants significantly all over India. The real estate consultants need to register, get verified and certified by the authority in order to facilitate transactions in the market. As the consultants are managed under the RERA provisions, investors and home buyers’ trust have increased immensely and this is also calibrating the market transactions.

Core professionalism and trust
Yes, professionalism and trust are really ingrained to the core post RERA. The consultants are much more responsible now as they will have to disclose all appropriate information to the buyers and adhere with only RERA compliant developers. In a gradual manner, there is complete elimination of fly by night players in the market and only organized market mechanism prevail.

The three drivers for the consultants’ market in the current scenario are accountability, transparency and trust!