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Realtor / Real Estate Agent

Who is a Realtor?

A realtor, also known as a real estate agent, is a person working for clients who want to buy real estate. The broker usually operates on the basis of a licensed broker to represent clients in the owner/government transaction.

What does a Realtor do?

A realtor is of different kinds and their duties as follows:-

  • The seller's representatives, commonly referred to as "listing brokers" or "listing agents", are assigned by the owners to assist in marketing properties for sale and/or rental

  • Buyer's Agents are brokers or salespersons who assist buyers by helping them purchase a property

  • Dual agents help both the buyer and seller in the same transaction. To protect their license to practice, a real estate agent owes both parties fair and honest treatment and must require both parties (seller and buyer) to sign a contract with two agencies

  • Transaction brokers offer buyers and sellers limited representation, but without fiduciary obligations. Transaction brokers only have an intermediary relationship and assist buyers, sellers, or both during the transaction without representing the interests of a party that can then be considered a customer. The support provided is the legal document for an agreement between the buyer and seller about how a particular transfer of ownership will take place

Who can become a Realtor?

Anyone who is above the age of 18 can become a real estate agent.

How to become a Realtor?

  • To be able to be a real estate agent in India, you have to be registered by RERA. Once you are registered with RERA next step is to tie-up with Builders to get the best deals and in-depth knowledge of projects being offered in your area, in most of the cases since you would be new into the business it will be tough to get meetings and collaborations with reputed builders to get exclusive deals.

  • The next part is to generate leads. In general, to generate potential customers, you need to configure a complete business module, such as setting up an office, website and many other channels promoting your work, which you must constantly use to get potential customers, which is both a very tedious and expensive task.

  • Knowledge about new products is very important in this real estate sector. To support this, there are various brokerage associations in each state that you can join. They offer basic real estate training and know-how, as well as illuminate current market conditions. You should find some friends of agents that you can follow at work and see how they make a deal. 

How much does a Realtor make in India?

It is a job that is governed by market forces, so there is no bracket that you can determine your income. Sometimes you may have to work a while without earning a profit and sometimes the profits will be earned by you without much doing.

Who are the major recruiters?

  • Godrej Properties

  • DLF

  • DHFL

  • Oberoi Realty Ltd

  • Indiabulls Real Estate Ltd

  • Omaxe Ltd

  • Ansal Properties and Infrastructure Ltd

  • Prestige Estates Projects Ltd

  • Sobha Ltd

Interesting Facts

About 85% of McDonald’s in 2016 was represented by franchisee-run locations—people who agree to operate individual McDonald’s restaurants with a licensed privilege to the branding. But rather than collect a lot in royalties or sell its franchisees cooking equipment, McDonald’s makes much of its revenue by buying the physical properties and then leasing them to franchisees, often at large mark-ups.