The Real Estate Broker has probably been the world’s second oldest profession. No prices for guessing the first! Indian civilization lays claim to the earliest planned cities at Harappa and Mohenjodaro in 2600–1900 BC. The quality of municipal town planning suggests the knowledge of urban planning and while it may be debatable, it is highly probable that the earliest brokers existed back then. The Great Indian Broker has only grown from strength to strength since then. India has changed over the years absorbing other cultures and religions into it’s fold making the broker’s job all the more challenging.
The Indian broker has had to deal with people of different cultures and beliefs and has always tailormade solutions accordingly. It is well known that many people prefer to stay in colonies inhabited by similar communities, while others prefer more cosmopolitan surroundings. India is a changing market and the global vs. local divide is best bridged by the man who has grown up witnessing the changes that make this country what it is today. And that is none other than the Indian broker who is trained by the able hand of experience and mentored by his fellow brokers who have gleamed many such pearls of wisdom over the years. To add to the old skool ideology is new age thinking infused by the youth today that is internet savvy and privy to global trends.
Indian Real Estate Market
Since the entry of International Property Consultants (IPC) in India, the market has grown to admit the new players with aplomb much like the old Parsi tale. According to the story when the Parsis landed on the coast of Gujarat, they were asked to return as there was not enough space for more people. At that the moment, the Parsi envoy was said to have asked for a bowl full of milk which depicted the nation and a handful of sugar denoting the Parsis. On adding the sugar to the milk, everyone observed that the milk did not overflow and on the contrary was sweeter to taste. Thus the Parsis convinced the Ruler of Gujarat to allow his people to stay. Similarly the Indian Real Estate Market has embraced the entry of IPCs into their midst.
While the experience of global markets and established processes have helped the IPCs hold their own in the Indian Market, the advantage lies with the Indian broker with his intrinsic knowledge of local cultures and the social fabric. Many IPCs routinely employ the use of local brokers to connect with the market. The Indian broker uses the experience of the local market to match clients with the right solutions to their needs. Most corporate firms both global and local rely on local expertise for their realty requirements. Employing the services of the local broker ensures support to the local industry and commerce. Many brokers today don new avatars and have evolved to use modern technology and tools such as social media and the internet to provide their customers with better service and support.
Partnerships have become the norm today with many local real estate consulting firms forming alliances with global International Property Consultants in order to offer their clients the best opportunities in the local as well as international market. Ever since the growth of the IT/ ITES industry in India, the Great Indian Broker has ridden the wave expertly and adapted to the ever increasing and changing industry. It is important to note that one of the important factors for the rapid growth of the IT industry was the infrastructure; both undeveloped land and fully equipped spaces with logistics support. Thanks to the alert and agile Indian broker who extended his services to support the burgeoning industry with innovation and speed. Looking towards the ever expanding horizon with an eternally vigilant eye on the ground realities that make this versatile nation, is the Great Indian Broker.
Photograph by James Stanfield | Image Copyright 2008 National Geographic Society