Maharashtra Real Estate Regulatory Authority (Mahara) has taken a lead over comparable our bodies in different states with the registration of 20,901 initiatives and 19,787 actual property agents.
Gautam Chatterjee, chairman of Maha-Rera, said, “The primary motive at the back of formulating the Rera Act on the central level turned into to create protection for homebuyers who invest their life’s financial savings into buying a home.”
“Maharashtra changed into the first state to implement the Act within u . S .,” Chatterjee said.
He said that because the inception of Maha-Rera, at the least 4,000 projects registered under it was completed successfully without any court cases. “While our projection says that this number will increase to eight,000 within the coming 12 months, we’re similarly dedicated to accomplishing expedited trials at the court cases received,” he stated.
Maha-Rera has garnered the help of builders and developers.
Rajiv Parikh, president, Confederation of Real Estate Developers’ Association of India, (Credai), stated, “Maha-Rera has added area within the real estate industry and the lawsuits from flat customers are nicely addressed with the aid of the government while protecting their primary rights.”
Rohit Gera, coping with the director, Gera Developments, said, “There has been a clear shift amongst builders to focus
on undertaking final touch and to live as much as clients’ guarantees. The superb implementation of the Act in letter and spirit has caused renewed self-belief among homebuyers in the actual estate phase.”
Meanwhile, whilst highlighting a loophole inside the Act, Gera said, “While there were demanding situations for lots ongoing tasks, the regulation, while framed neglected out on putting in the vicinity a transition road map for those initiatives.”One cause is that maximum of the 1 million or so REALTORS have Web websites, and most of these Web web sites have varying amounts of the neighborhood MLS or CIE property information displayed on them. Another reason is that there are many non-real property agent Web sites that still provide real property information, including, for-sale-by using-owner web sites, foreclosure web sites, local and worldwide listing websites, County assessor sites, and valuation and market facts web sites. The flood of real property information to the Internet without a doubt makes the statistics more reachable however additionally extra puzzling and concern to misunderstanding and misuse.
In addition to Internet marketing, listing agents may also help the seller establish a price, hold open houses, keep the seller informed of interested buyers and offers, negotiate the contract and help with closing. When an agent provides all of these services it is referred to as being a full-service listing arrangement. While full-service listing arrangements are the most common type of listing arrangement, they are not the only option anymore.
Changes in the technology behind the real estate business have caused many agents to change the way they do business. In large part, this is due to the instant access most consumers now have to property listings and other real estate information. In addition, the Internet and other technologies have automated much of the marketing and initial searching process for real estate. For example, consumers can view properties online and make inquiries via email. Brokers can use automated programs to send listings to consumers that match their property criteria. So, some agents now limit the services they offer and change their fees accordingly. An agent may offer to advertise the property in the MLS but only provide limited additional services. In the future, some real estate agents may offer services in more of an ala carte fashion.
Because of the volume of real estate information on the Internet, when people hire a real estate agent today they should look at the particular services offered by the agent and the depth of their experience and knowledge in the relevant property sector. It is no longer just about access to property listing information. Buyers and sellers historically found agents by referrals from friends and family. The Internet now provides ways to directly find qualified agents or to research the biography of an agent referred to you offline. One such site, AgentWorld.com, is quickly becoming the LinkedIn or Facebook for real estate agents. On this site, an agent can personalize their profile, start a blog, post photos, and videos and even create a link to their web site for free. Once unique content is added to their profile page the search engines notice!
Some have argued that the Internet makes REALTORS and the MLS less relevant. We believe this will be false in the long run. It may change the role of the agent but will make knowledgeable, qualified, and professional REALTORS more relevant than ever. In fact, the number of real estate agents has risen significantly in recent years. No wonder, the Internet has made local real estate a global business. Besides, Internet or not, the simple fact remains that the purchase of real property is the largest single purchase most people make in their life (or, for many investors, the largest multiple purchases over a lifetime) and they want expert help. As for the MLS, it remains the most reliable source of real estate listing and sold information available and continues to enable efficient marketing of properties. So, what is the function of all the online real estate information?