CREBAI & Sai Estate Consultants hold 1st NatCon for brokers in Mumbai

The Confederation of Real Estate Broker’s Association of India (CREBAI) in association with Sai Estate Consultants held its 1^stnational convention in Mumbai today. The event was held to unite the broker community and address the concerns and challenges faced by them. The event was attended by Shri Gautam Chaterjee, RERA Authority and Chairman, MahaRERA. He talked about the importance of RERA registrations for the real estate brokers and consultants. He expressed his happiness that Maharashtra had the highest number of RERA registrations by the developers as well as the brokers. The event witnessed huge number of 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. The event was then addressed by Mr. Amit Wadhwani, Managing Director, Sai Estate Consultants. He launched a mobile application named ‘WAJOOD’ for the real estate brokers. “The Wajood application will be an identity for the real estate brokers and consultants,” said Amit Wadhwani. This will be a platform for the brokers to simplify their business problems that they face day to day like lack of clear land titles, speculation in land and real estate prices, clarity on brokerage amount and many more, he said. Amit Wadhwani spoke about the change of strategies of the real estate brokers after RERA came into force and the difficulties faced by them. Answering to a question, Amit told Realty Plus, “The sales strategy today is the RERA registration number. It is not about how many options that you show but it is about the right option that you show. Understanding psychologies, training quality practices, getting certifications will be further looked for. Once the RERA is properly understood, we will see many things getting clear. RERA has infused a little bit of fear in the mind of developer fraternity and avoids them doing anything wrong.” When asked about his statement on the problems of funding faced by the brokers, he said, “It is a ripple effect. Brokers have not really maintained their books of accounts, not paid the taxes all the time and this probably has made the case. But, I feel that the brokers are now getting organised. The private equity funds must look broking as a creative form of business and provide a seed capital. Real estate is a very large sector and the highest aggregator of revenue for the state in the form of stamp duty. Hence, there must be some sort of funding given to the real estate sector.”