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Join The Smart City Revolution India Realty Congress India Realty Congress ETRealty Business Forum RealtyTV Residential Commercial Retail Hospitality Regulatory Industry Infrastructure Money Matters Allied Industries More #featured_leaderboard img{max-width:inherit;}#featured_leaderboard{text-align:center;}{"@context":"http:\/\/schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https:\/\/realty.economictimes.indiatimes.com","name":"Real Estate News"}},{"@type":"ListItem","position":2,"item":{"@id":"https:\/\/realty.economictimes.indiatimes.com\/latest-news","name":"Latest Real Estate News"}},{"@type":"ListItem","position":3,"item":{"@id":"https:\/\/realty.economictimes.indiatimes.com\/news\/industry","name":"Industry"}},{"@type":"ListItem","position":4,"item":{"@id":"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/100-automatic-route-fdi-for-real-estate-brokerage-can-push-broker-training-services\/62475078","name":"100% automatic route FDI for real estate brokerage can push broker training, services"}}]}Real Estate NewsLatest Real Estate NewsIndustry {"@context":"http:\/\/schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/100-automatic-route-fdi-for-real-estate-brokerage-can-push-broker-training-services\/62475078"},"headline":"100% automatic route FDI for real estate brokerage can push broker training, services","datePublished":"Fri, 12 Jan 2018 16:55:40 +0530","dateModified":"Fri, 12 Jan 2018 17:04:00 +0530","articleBody":"The Cabinet cleared 100% FDI under automatic route for real estate broking services on the grounds that real-estate broking service does not amount to real estate business and is therefore, eligible for 100% FDI.In a post-RERA (Real Estate (Regulation and Development) Act) the fact that all brokers need to register themselves with the RERA authorities has already led to some regulation and structure in the industry.Says Ramesh Nair, CEO and Country Head, JLL India, “the brokerage industry has been scattered and the new policy initiatives are good to structure the businessHe sees the advent of a lot of organised brokerages from the US and Europe entering IndiaWith an acute shortage of industry-ready professionals, he expects a significant growth of the broker training and education industry and predicts that this may soon become a profession of choice for a lot of professionalsThe ground rules established by RERA, more listed developers, building structures of quality and price in defined timelines will lead to listed brokers being able to sell in a regulated fashion“JLL alone employs 10,000 professionalsOpening services for FDI through the automatic route is one way for the government to create more jobs,” he says.For Yatin Sharma, Chief Operating Officer, Re\/Max India, the most important change would be a clarity in financialsHe believes that many more brokerage brands will emerge, some with external affiliations and others through domestic and global consolidationHe believes that the first change that is expected to come into the Indian market is a bump-up in training of brokersAlready Re\/Max India has made at least 80 hours of annual training compulsory for its registered brokersHe expects 6-7000 manhours of training to take place next year in the organisation.Does this mean that the consumers will get better services? Sharma says already the organisation has 48% business from exclusive representation of customersFor instance, if you have a house to sell or want to buy a house, you register with Re\/Max for exclusive representation for a fee, and in 90-95% of cases the transaction is successfully concludedAbout 13-14% of exclusive mandates come from non-resident Indians looking for responsible brokers and advisors.Coming close on the heels of the GST (Goods and Services Tax) the secondary markets have already shown signs of revival, simply because completed property does not attract GST while under-construction primary property doesSharma of Re\/Max feels this FDI move may further strengthen the secondary markets, though no substantive study in the rise of secondary markets has yet been undertaken.Samir Shroff of Coldwell Bankers thinks the move is welcome for real estate brokerage companies, especially for international and organised entities“Large-scale and long-term leasing in large and medium metros will see a big growth, we think.”Structuring of the real estate brokerage business and its transformation into financially compliant and end-user focussed businesses seems to be the thrust of the new lawThe consumer, who had taken centre stage in 2017 as far as primary market policy was concerned, is now being addressed in the secondary market business tooThe switch may be slow and many more statuatory interventions may be required before the 10-20% registerd brokers grow to a large majority in the countryBut structured finances will result in more training facilities and organised brokerage houses with whom smaller brokers can get aligned and trained.","keywords":"","url":"https:\/\/realty.economictimes.indiatimes.com\/news\/industry\/100-automatic-route-fdi-for-real-estate-brokerage-can-push-broker-training-services\/62475078","articleSection":null,"description":"In a post-RERA the fact that all brokers need to register themselves with the RERA authorities has already led to some regulation and structure in the industry","author":[{"@type":"Person","name":"E Jayashree Kurup","url":"https:\/\/realty.economictimes.indiatimes.com\/author\/479250581\/e-jayashree-kurup"},{"@type":"Person","name":"ET RealEstate","url":"https:\/\/realty.economictimes.indiatimes.com"}],"publisher":{"@type":"Organization","name":"Magicbricks","logo":{"@type":"ImageObject","url":"https:\/\/st.etb2bimg.com\/Themes\/Release\/images\/responsive\/realty-logo-square-v3-min.jpg","width":60,"height":60}},"image":[{"@type":"ImageObject","url":"https:\/\/etimg.etb2bimg.com\/thumb\/msid-62475078,width-700,resizemode-4\/.jpg","width":700,"height":525},{"@type":"ImageObject","url":"https:\/\/etimg.etb2bimg.com\/thumb\/msid-62475119,width-700,resizemode-4\/.jpg","width":700,"height":525}]} Industry »FDIRERAReal Estate Regulation and development ActJLLDelhi-NCR100% automatic route FDI for real estate brokerage can push broker training, servicesIn a post-RERA the fact that all brokers need to register themselves with the RERA authorities has already led to some regulation and structure in the industryE Jayashree Kurup  |  Magicbricks  |  January 12, 2018, 16:55 IST Newsletter A A The Cabinet cleared 100% FDI under automatic route for real estate broking services on the grounds that real-estate broking service does not amount to real estate business and is therefore, eligible for 100% FDI.In a post-RERA (Real Estate (Regulation and Development) Act) the fact that all brokers need to register themselves with the RERA authorities has already led to some regulation and structure in the industry.Says Ramesh Nair, CEO and Country Head, JLL India, “the brokerage industry has been scattered and the new policy initiatives are good to structure the businessHe sees the advent of a lot of organised brokerages from the US and Europe entering IndiaWith an acute shortage of industry-ready professionals, he expects a significant growth of the broker training and education industry and predicts that this may soon become a profession of choice for a lot of professionalsThe ground rules established by RERA, more listed developers, building structures of quality and price in defined timelines will lead to listed brokers being able to sell in a regulated fashion“JLL alone employs 10,000 professionalsOpening services for FDI through the automatic route is one way for the government to create more jobs,” he says.For Yatin Sharma, Chief Operating Officer, Re/Max India, the most important change would be a clarity in financialsHe believes that many more brokerage brands will emerge, some with external affiliations and others through domestic and global consolidationHe believes that the first change that is expected to come into the Indian market is a bump-up in training of brokersAlready Re/Max India has made at least 80 hours of annual training compulsory for its registered brokersHe expects 6-7000 manhours of training to take place next year in the organisation.Does this mean that the consumers will get better services? Sharma says already the organisation has 48% business from exclusive representation of customersFor instance, if you have a house to sell or want to buy a house, you register with Re/Max for exclusive representation for a fee, and in 90-95% of cases the transaction is successfully concludedAbout 13-14% of exclusive mandates come from non-resident Indians looking for responsible brokers and advisors.Coming close on the heels of the GST (Goods and Services Tax) the secondary markets have already shown signs of revival, simply because completed property does not attract GST while under-construction primary property doesSharma of Re/Max feels this FDI move may further strengthen the secondary markets, though no substantive study in the rise of secondary markets has yet been undertaken.Samir Shroff of Coldwell Bankers thinks the move is welcome for real estate brokerage companies, especially for international and organised entities“Large-scale and long-term leasing in large and medium metros will see a big growth, we think.”Structuring of the real estate brokerage business and its transformation into financially compliant and end-user focussed businesses seems to be the thrust of the new lawThe consumer, who had taken centre stage in 2017 as far as primary market policy was concerned, is now being addressed in the secondary market business tooThe switch may be slow and many more statuatory interventions may be required before the 10-20% registerd brokers grow to a large majority in the countryBut structured finances will result in more training facilities and organised brokerage houses with whom smaller brokers can get aligned and trained.RELATED 14 biggest real estate milestones in 70 years of independent India Newsletter A A Tags : Industry, FDI, RERA, Real Estate Regulation and development Act, JLL, Delhi-NCR Set request data..................-->  Comment on this Recommended by ColombiaSponsored Stories Subscribe ETRealty Newsletter 100000+ Industry Leaders already read it everyday function callContentWidget2(link) { if(link) { var wgt_html = '; 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} @media screen and (max-width:999px) { .fullWidthWidget{ margin:0 -10px 10px; } } Most Read This WeekThis Month Homebuyers may get IBC reliefThe changes are based on the recommendations of a high-level law committee chaired by Injeti Srinivas, secretary in the ministry of corporate affairsMumbai DP-2034: Aarey spared, salt pan lands to be developedLodha files IPO papers, looks to raise over Rs 5,000 croreMumbai, Bangalore lead residential sales, launches in Q1: ReportBarclays leases 1.1 million sq ft office space in PuneShapoorji Pallonji interested in buying Unitech's arm for Rs 110 croreSC has directed Amicus Curae Pawan Shree Agarwal to publish public notice inviting any objections to sale of unecumbered properties of Unitech and its subsidiariesBombay HC halts possession of any flat in 'Omkar 1973'Piramal Realty fined Rs 50 lakh by MahaRERA for violation of ruleWon’t entertain complaints post flat possesion: MahaRERAMahendra Singh Dhoni sues Amrapali group over Rs 150 crore dues Most Read in IndustryThis WeekThis Month Lodha files IPO papers, looks to raise over Rs 5,000 croreIIFCL tears into Jaypee Infra bid evaluation process, calls for fair reviewIBC, RERA conflict apparent in some bankruptcy proceedings: AssochamOne year of RERA: 14 states still have no portalsMahendra Singh Dhoni sues Amrapali group over Rs 150 crore duesDosti-Suraksha JV to acquire Jaypee Infra for Rs 7,350 croreDubai's Emaar Properties appoints Hadi Badri as MD of India businessJaiprakash Associates deposits Rs 100 crore in Supreme CourtLodha files IPO papers, looks to raise over Rs 5,000 crore Follow ETRealty///SEO FOOTER ›PE investments into real estate up a tad in first 9 months / MahaRERA dismisses investor's plea against builder / Ultratech Cement profit dips by 53% in Q2 2017 / DB Realty to raise stake in DB (BKC) Realtors / Now, register your property online in Noida and Greater Noida / Milestone Capital looks to raise up to Rs 1,000 crore to invest in warehousing / Amazon leases 4.5 lakh sq ft of office space in Chennai / LIC Housing withdraws NCLT plea against DB Realty / Moody's confirms Lodha's B2 rating; outlook stable / Citibank sells Chennai land to TIL Healthcare for Rs 80 croreEditor's Picks ›Tamil Nadu has highest number of green buildings in India: Report / Mahindra Lifespaces' profit grows 175% y-o-y in Q4 FY18 / Dalmia Bharat's takeover of Binani may disrupt cement industry: JC Toshniwal, Wonder Cement / L&T Housing Finance increases its prime lending rate by 15 bps / Indiabulls Real Estate Q4 net profit at Rs 1,648 crore / SC seeks details of co-developers of Amrapali / Centre committed to in-situ redevelopment of slums in Delhi: Housing Minister / Paytm to take-up over 800 seats in GoWork / Essar completes sale of Equinox Business Parks to Brookfield for Rs 2,400 crore / Airtel leases over 50 seats in CoWrks' shared space in BengaluruFeatures ›Trends / IndustrySpeak / City / Careers / Data & Analytics / RealtyTV / New Businesses / Technology / RealtyCheck / Delhi-NCR / Mumbai / Pune / Chennai / Hyderabad / Kolkata / Ahmedabad / Social AnalyticsOther B2B News Sites ›Retail News / Auto News / Health News / Telecom News / Energy News / IT News / Marketing & Advertising News / Technology News / CFO News / IT Security News About Us / Contact Us / Advertise with us / Newsletter / RSS Feeds / Embed ETRealty.com Widgets on your Website / Invite Friends / Enroll Company Employees Privacy Policy / Terms & Conditions / Guest-Post Guidelines / Sitemap / Copyri

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