Finding a new property becomes much easier with the professional assistance of a real estate broker. Reputed brokers in the real estate industry represent their clients to developers and guide them through the purchasing process. Right from choosing the location to finding a property with the desired set of amenities, brokers go a long way in crafting the purchase experience for the buyers.
Now, you might also find professionals working as a real estate channel partner in your city. Apparently, their function might seem to be the same as agents. However, there’s always a difference between the roles and tasks of real estate brokers and channel partners. In this article, we will discuss how real estate brokers and channel partners differ from each other.
Who are real estate channel partners and what do they do?
Competition in the real estate industry has increased manifold in recent years. At the same time, the cost of construction materials and marketing processes has also increased. So, when you examine the financial aspects from the perspective of a developer, they encounter cost constraints.
Besides, as per RERA norms, the developers have to allocate 70% of the funds meant for a particular project to an escrow account. So, they cannot withdraw this fund to manage other associated costs. As a result, they have only 30% of the funds left to work on other priorities like branding, marketing, and sales.
In a large industry like real estate, this little margin falls short of fulfilling the budgetary requirements. This explains why real estate companies seek the assistance of channel partners for marketing and sales support. These are highly experienced professionals who specialize in branding, marketing, and sales. Outsourcing these tasks helps the developers focus on the core tasks of their business. This way, the channel partners are responsible for marketing and sales for the projects.
Real estate buyers also benefit from this business model. Since the project cost doesn’t include the marketing expense, the properties become more affordable.
Here are some of the responsibilities that a top real estate channel partner in India shoulders:
- Publishing advertisements on different media channels
- Carry out digital marketing campaigns
- Organizing exhibitions and roadshows
- Organizing corporate activities
- Offering in-depth consultation
- Putting up hoardings
- Carryout out residential society activities
How are real estate channel partners different from brokers?
Real estate brokers work on a referral basis and their reach is much more limited compared to channel partners. They don’t have an organized operational infrastructure. However, a top real estate broker like 360 Realtors can help you find the most suitable property within your budget.
Channel partners advertise the developer and its projects. property buyers need not shell out any service fee to them. On the other hand, you may have to shell out a small fee to traditional brokers. While channel partners work with a limited number of developers, brokers can offer you more customization options. So, it would be logical to reach out to an established property broker to find your property.
For more information - https://www.360realtors.com/
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