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Builders join Hands, Float National Association
In the first week of March, seven city real estate associations signed bilateral agreements with the newly formed National Association of Realtors – India (NAR- India), which in turn has forged an alliance with National Association of realtors, USA to give itself an international appeal.
NAR-India has also kick-started the process of training estate agents for transnational referrals. While Bangalore hosted the first workshop, come June Pune – which is the largest contingent in NAR-India at 193 members – will host a similar workshop and the next year’s national conference as well. Currently, Pune estate agent Kishen Milaney is the secretary of NAR-India.
“Earlier to make transnational referrals, one needed to either have branch offices or know the client. With an accredited network, we have a list of agents in the other country that the client can be referred to, and get a guaranteed deal,” said Ravi Varma, president elect of NAR-India for next year and current president of the Estate Agents Association of Pune. Under the accreditation of NAR-India, estate agents hope to enjoy the benefits of having multi-city branches and get a guaranteed commission for making referrals.
In a statement, NAR-India has said that it “aims to achieve transparency, accountability, fair dealing, and ethical practices in the industry. Besides providing skills, education and best practices to its members, the NAR India are involved in activities such as market research, dissemination of information, lobbying with government at the local and national level, and conducting conferences and exhibitions.”
Since the launch, Farook Mahmood, the current president of NAR-India and head of the Bangalore chapter, said that there had been many enquiries from agents across the country to join NAR-India. He said that NAR-India would help in extending the business market of city agents across the country. “Local networking will become more important. With more employee mobility among companies within the country, one can refer clients to agents in other cities,” Mahmood said.
As NAR-India is yet to form a corpus, the California based South Asia real Estate Association of America will subsidize the activities of NAR-India for the initial two years. Within the first two years, the association expects to reach out to 15 cities and build a sizeble corpus from over 2000 brokers.
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