RE/MAX Realty Review
March, 2016
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From the Chairman’s desk The most awaited revolution in the Real Estate market is finally in action now. The real estate bill passed by both houses of India's federal parliament will be instrumental in paving way for the much needed regulations in the real estate sector. The major agenda of the bill has only been the protection of the customer’s interest and ensure efficiency, transparency and accountability in our sector. Like I have always said that Real Estate Bill is a high priority agenda and we are happy that it has been taken. As rightly quoted by Mr. Naidu that the bill envisages that “What is being committed and promised should be fulfilled and that is the only purpose of this Bill". It will be a regulation and nobody should worry except the “fly-by-night operators”. The Bill will not only regulate the transactions but will also set up a regulatory authority (RERA)to oversee these transactions. With the registration, timely completion and handover of the project becoming mandatory, the buyers will see the project development actually happening but not on papers but in real. RE/MAX has always believed in the HIT philosophy i.e. Honesty, Integrity and Trust and has always worked towards professionalizing the real estate industry. With the passage of the bill the once distant dream for RE/MAX India is shaping into reality thus making it a level playing field for professional players with HIT as its motto.
The real estate sector is going to witness 3 big real estate events this year in the month of August. The National Association of Realtors-India (NAR-INDIA) is hosting its 8th Annual Convention in New Delhi on August 13 & 14, 2016 followed by RE/MAX Asia Pacific 2nd Convention along with the RE/MAX Realty Rendezvous-7 from August 31st – September 2nd in Bangkok, Thailand. We look forward to having you at these events. The 1st quarter of the year saw a lot of positives both in the real sector as a whole and in RE/MAX Network. I could see that our regions, broker owners and associates are moving a step forward and helping each other in growing the business. A great round of applause to the regional owners of RE/MAX West Hyderabad, RE/MAX Southern Karnataka, RE/MAX Gujarat for organizing training sessions and events for the broker Owners and Associates. The mobile app has been introduced by our technology partner GryphTech for our Broker Associates and is now available to be downloaded from Google Playstore and IOS. In the end I would like to say that our time as organized players in the real estate market has come and let us collaborate to succeed and make the financial year 2016-2017 a super successful year for us!
Cheers! Sam Chopra
Content: _____________________________________________________________________________________________________________________________ _____________________________________________________________________________________________________________________________ ________________________
1) From the Chairman’s Desk
2) From the Vice Chairman’s Desk
3) Events to Look Forward to
4) News from RE/MAX India
5) Sales Snapshot
6) News from RARE
7) What's new in social media and Marketing
8) Look who is in Spotlight this time
9) Press Buzz
10) News from Regions and Broker Offices
11) News from RE/MAX LLC
12) RE/MAX Anniversaries
13) Heroes of the month
14) Realty Bytes
15)RE/MAX India welcomes its New Broker Associates
RE/MAXRealty Review
March, 2016
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RE/MAX Realty Review
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From the Vice Chairman’s desk The Real Estate Bill was the need of the hour and is one of the best news in the beginning of the Financial Year 2016-2017. I feel that it will definitely foster a happy alliance between consumers, brokers and developers. The bill will establish state-level authorities called Real Estate Regulatory Authorities (RERAs) and the real estate brokers will have to be registered with RERA at the state level. This would go a long way in bringing about transparency and professionalism in real estate broking and creating a positive perception of brokers in the minds of home buyers. The Bill comes as a welcome move in the right direction and will be a big positive not only for consumers but for brokers and agents as well. In this month’s newsletter we are sharing with you the experience of our Regional Owners from Greater Visakha, Chennai & Punjab of the Regional Owners Management training at the World Headquarters in Denver and R4 Convention in Vegas.
RE/MAX India would be conducting “Train the Trainer” (TTT) program for Regions for which we are inviting trainers from across the Regions to attend TTT and take the knowledge and expertise back to their regions. RE/MAX LLC has also taken one of the their most comprehensive education for Broker Owners and recruiters beyond boundaries by starting a webinar series on “Momentum”. It’s a 8 part bi-weekly webinar series which commenced on 23rd March, 2016 for Broker Owners and recruiters specifically. Hope to see our Broker Owners and recruiters actively participating in the same.
I would like to welcome all our new Broker Owners and Broker Associates that have joined the network and congratulations to the team of RE/MAX Landmark, Southern Karnataka for being the top recruiter for the month of March and would also like to congratulate Precilla DSouza, Broker Associate, RE/MAX Landmark, Southern With training being one of our major strengths, our Karnataka for being recognized as the top entire focus is on leveraging it. We have been able transactor for the month of March in her very 1st to pull off 5 weekly webinars in the month of March month of joining the RE/MAX system. and seen people actively participating in the same along with a batch of Broker Owners Management In the end, I would like to wish all of you a very Training and Franchise Sales Workshop conducted successful FY 2016-2017 and let’s work together to at the National Headquarters in Gurgaon. The achieve great heights both professionally and month of April will yet again be witnessing a lot of personally! knowledge exchange in terms various trainings conducted by RE/MAX India and RE/MAX LLC. Regards Saloni Chopra
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Events to look forward to in April!
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News from RE/MAX India 3 Big Real Estate Events to look forward to in the month of August The month of August 2016 is going to very eventful for the Real Estate Industry and even more promising for not only the RE/MAX Affiliates but also for the Realtors from across the country and the globe! National Association of Realtors-India (NAR-INDIA) is hosting its 8th Annual Convention in New Delhi on August 13 & 14, 2016. NAR-INDIA has been fashioned not only as a single national level umbrella organization representing the interests of thousands of realtors/brokers operating all over the country, but also an organization which aims to elevate the standards of practice of the real estate brokerage business to a global level where ethics, transparency, accountability, rule of law and good governance prevail.
NAR India’s 8th Annual Convention will soon be followed by the RE/MAX Asia Pacific and RE/MAX India’s Convention. RE/MAX Asia Pacific is hosting its 2nd Convention along with the RE/MAX Realty Rendezvous-7, the annual convention of RE/MAX India in Bangkok, Thailand at The Grand Fourwings Convention Hotel from August 31 to September 2, 2016. The convention will not only bring together realtors from over 30 different countries but will also be a wide spectrum of real estate workshops, career advises and an opportunity for intensive networking!
For any queries w.r.t registration and details of these events, reach us @+91- 7042698807
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The wait is over now‌ The most awaited events of the year, RE/MAX Asia Pacific 2nd Annual Convention and RE/MAX Realty Rendezvous- 7 is around the corner!
STAY TUNED FOR MORE UPDATES ON THE EVENT!
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Sales Snapshot RE/MAX West Hyderabad
The regional team of RE/MAX Hyderabad conducted a Discovery Day at their regional office to explain about the Business Opportunities at different levels with RE/MAX. The event was very well attended and had prospects from varied backgrounds like Charted Accountants, Insurance Agents and Real Estate agents who are already having small set ups. We would like to wish them all the very best! RE/MAX Chandigarh
In the month of March the Regional Team of RE/MAX Chandigarh along with their Broker Owners participated in Franchise and Retail Opportunities Show organized by Franchise India in Chandigarh to meet like-minded prospects looking to expand their Real Estate business with RE/MAX. Meeting a good number of prospects through the show, we are confident that the region will see a good number of affiliates joining them in the coming months!
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News from RARE RE/MAX Academy of Real Estate certifies another batch of Broker Owner and Franchise Sales Team in the month of March! RARE would like to congratulate the Broker Owners and Franchise Sales team from RE/MAX Chennai, RE/MAX Punjab, RE/MAX Lucknow and RE/MAX West Hyderabad on successful completion of Broker Owners Management Training and Franchise Sales Workshop respectively. The attendees also spent some quality time with Mr. Sam Chopra, Chairman & Founder, RE/MAX India.
RE/MAX India wishes the new Broker Owners and Franchise Sales team members all the very best for their journey with RE/MAX!
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Training Feedback from the Broker Owners and Regional Team Member of RE/MAX Chennai Region
Weekly Webinar Series conducted by RE/MAX Academy of Real Estate in the month of March Stay tuned for the weekly webinar series coverin
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What’s new in social media and marketing! Why be tied to your desk when you can manage your real estate business while on the go! With the growing dependency of real estate business on technology, a move by Gryphtech to launch the iList mobile app has come in very supportive for our agents. The app will help the agents to plan and organize their day to day business activities in a more professional and organized manner.
RE/MAX Realty Review
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RE/MAX Realty Review
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Press Buzz
Expert quote by RE/MAX India Chairman, Sam Chopra on the passing of real estate bill and how it will promote the residential real estate and attract foreign investments. Publication: Mail Today
Mr. Sam Chopra on key highlights of the Real estate Bill- Expert quote of RE/MAX India Chairman, Sam Chopra on parking 70% funds in escrow account Building Model Bye laws. Publication: Financial Chronicles
Publication: The Tribune
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Expert Quote by RE/MAX India Chairman, Sam Chopra on Expert quote by RE/MAX Gujarat Regional Owner, Manan Real Estate budget and its road ahead for development Choksi on Smart Cities Publication: Realty & More
Expert Quote by RE/MAX India Chairman, Sam Chopra on real estate bill and its effect on buyers. Publication: Firstpost LINK:http://www.firstpost.com/business/real-estate-bill-amagic-wand-in-the-hand-of-a-buyer-but-more-clarity-needs-toemerge-from-mechanisms-proposed-2671758.html
Publication: Metro Realty & Interiors
Expert Quote by RE/MAX India Chairman, Sam Chopra on Jaitley's proposal to revive housing demands in Metros Publication: Firstpost LINK:http://www.firstpost.com/business/budget-2016-willjaitleys-proposal-revive-housing-demand-in-metros2655438.html
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Expert quote of Sam Chopra on the successful formation Expert quote from RE/MAX India Chairman, Sam Chopra on the Affordable housing of the Real Estate bill. PUBLICATION: Mail Today Publication: The Tribune
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News from Regions RE/MAX North & South Gujarat
RE/MAX Southern Karnataka
The Regional Team of RE/MAX North & South Gujarat organized a training session for all its Broker Owners and Broker Associates. The training session was conducted by a renowned lawyer at Arvind Infrastructure and covered the legal aspects of doing real estate transactions.
Snippets from launch and the first Discovery day of RE/MAX 360* Realty, one of the newly launched office of their region. The regional team completely supported the Office in their launch and shared the agent opportunities with the attendees. RE/MAX India would like to wish the office all the very best!
RE/MAX Madhya Pradesh
RE/MAX India would like to congratulate the team of RE/MAX Realty Services, Bhopal for their official tie up with Mirchandani Group for their project, Shalimar Fortleza wherein the team will be selling and marketing the project. The team also visited the project site to understand the project in detail!
RE/MAX Madhya Pradesh
Thoroughly believing in the fact that learning is an on-going process, RE/MAX Realty Services, Bhopal organized a team session to discuss about the Real Estate Bill. Discussing in detail its importance for real estate agents, buyers and builders and the multiplier effect it will have on Real Estate as whole, the session was very educative as well as motivating.
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News from RE/MAX LLC
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RE/MAX Anniversaries, Broker Offices (March) Name of the Region
Broker Office Name
Broker Owners Name
Number of Years
RE/MAX Navi Mumbai
RE/MAX Estates
Nisreen Hamid
1
RE/MAX Rest of Tamil Nadu
RE/MAX Appu Real Estate
KanniahKandasamyPillai
2
Top Listors for the month of March
Heroes of the month
Top Recruiter for the month of March
#1 Precilla D'Souza RE/MAX Landmark RE/MAX Southern Karnataka
#1 Lawrence Crasta RE/MAX Landmark RE/MAX Southern Karnataka
Top Transcator for the month of March
#1 Mabel Crasto RE/MAX Matrix RE/MAX Mumbai
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Realty Bytes Will the real estate bill hurt brokers? Brokers play a very important role in real estate transactions in India, but they have never been within the ambit of a formal regulatory framework. Though brokers provide an essential service, there is a perception that they do not always handle such transactions professionally. The Real Estate (Regulation and Development) Bill, 2016, which was recently approved by both houses of the Parliament, might, however, change this. The Bill stipulates that all real estate brokers should be registered with state-level Real Estate Regulatory Authorities (RERAs). This would go a long way in bringing about transparency and professionalism in real estate broking and creating a positive perception of brokers in the minds of home buyers. When brokers are registered with RERAs, they are likely to be more accountable to home buyers, which will reduce the trust deficit that exists today between home buyers and brokers. Brokers, too are likely to benefit from this as they market products over which they do not have much control. Brokers cannot ensure that real estate developers stick to their timelines or promises made at the time of selling apartments. But when both the broker and the real estate developer are registered with an authority, brokers can be reasonably sure that the commitments the developer makes are reliable and thus can make the same commitments to the home with more confidence. This, of course, is not a panacea. But this is certainly better than brokers and real estate developers not being answerable to anyone. This is especially required in residential real estate, where the customer is not always a seasoned investor but an individual home buyer who suffers as a result of huge information asymmetry and lack of transparency. Real estate portals are doing the best they can to make real estate markets more transparent by making information available to home buyers. Such information was not available before real estate websites became popular. The real estate Bill, too, will play its role by ensuring that builders and brokers disclose relevant information in a transparent manner and are held accountable for their claims. A broker as an intermediary deserves to know the status of a piece of land on which a developer is building housing units and the status of various approvals. The broker also deserves to know the site and layout plan and the promised possession date to help home buyers make an informed decision. The real estate Bill, by requiring the developer to file this information with the regulator, protects the broker from inadvertently making false claims to a home buyer. As residential real estate projects often take very long to complete, it is important that the broker and the home buyer have a clear idea of when the units will be up for possession. This will help the industry as a whole because when a buyer is not in the dark and is confident about the timely completion of a development, he or she is more likely to invest their hard earned money in a development. The prolonged slowdown that we are experiencing in residential real estate is in no small measure due to a lack of consumer confidence in developers because of some broken promises in the past. Statelevel RERAs are likely to assure brokers and home buyers that the builder will honor their commitments, which in turn should lead to an increase in consumer confidence and a revival of the market. Brokers too shall be answerable. They will be obliged to sell only registered properties, maintain books of accounts, and comply with other requirements of documentation related to a project. According to the Bill, brokers should register themselves with the authority so long as the area of land developed exceeds 500 square meters. This means that most transactions involving substantial amounts of money will be within the ambit of the law. If a project has real estate agents and brokers marketing the project, as per the Bill, they ought to be mentioned on the RERA website. If the promoter has not registered the project, in compliance with all necessary regulations, real estate agents would not be allowed to facilitate such transactions. The real estate regulatory authority has the right to reject the application of an agent for registration. Moreover, if the regulatory authority notices that brokers violate any norms, they could cancel their registration and punish their transgressions. This would encourage customer centric behavior on the part of brokers. It is however possible that such provisions could be misused at times. But, since the regulatory authority
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part of brokers. It is however possible that such provisions could be misused at times. But, since the regulatory authority is expected to provide a written explanation that is documented, arbitrary behavior will be relatively low. All these are necessary for proper functioning of the residential real estate market. Does this mean that the proposed norms are without its flaws? Of course not. There is nothing in the Bill that spells out minimum qualification, training and licensing requirements for brokers as is the case in most well-functioning and developed real estate markets. This would have further helped to make real estate broking a highly regarded profession and ensured quality service for the consumer. The role of a broker is essential in facilitating a transaction and making the process hassle free for a consumer. By not stipulating certain minimum standards, the Bill has lost an opportunity to keep fly by night operators out of the profession. There is scope for improvements in the Bill, but there is no such thing as a perfect regulatory framework. Let us hope that the government and regulatory authorities see some of the shortcomings in the norms and fix them over time. Having said that, the Bill comes as a welcome move in the right direction and will be a big positive not only for consumers but for brokers and agents as well. SOURCE: http://realty.economictimes.indiatimes.com/realty-check/will-the-real-estate-bill-hurt-brokers/1387
RE/MAX Anniversaries, Broker Associates (March) Name of the Region
Broker Office Name
Associate Name
RE/MAX Delhi NCR
RE/MAX Highrise Realty
Renu Bajaj
RE/MAX Delhi NCR
RE/MAX Solution Specialists
Ravi Kumar Shrivastava
RE/MAX Mumbai
RE/MAX Innovest
Ketan L Vora
RE/MAX Gujarat
RE/MAX Realty Solutions
Hirav Shah
RE/MAX Gujarat
RE/MAX Realty Solutions
Tejas Shah
RE/MAX Gujarat
RE/MAX Realty Solutions
Vicky Jhaveri
RE/MAX India Welcomes its New Broker Associates Name of the Region
Broker Office Name
Associate Name
RE/MAX Southern Karnataka
RE/MAX Landmark
Precilla D’Souza
RE/MAX Southern Karnataka
RE/MAX Landmark
RohanJockim Fernandes
RE/MAX UP Central
RE/MAX Signature Realty
Vikram Bhutani
Navi Mumbai
RE/MAX Estates
Abraham Moses
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