Find Real Estate Agents and Homes for Sale


Real Estate News --> South Dakota News

FYI Calendar


OCT. 30 — Yankton High School Indoor Marching Band concert, YHS Main Gym, 7 p.m. OCT. 31 — Macklemore at the University of South Dakota/ Sanford Coyote Sports ... Neb. NOV. 1 — Real Estate at The Slowdown, Omaha, Neb. (This event has been CANCELLED.)


Archived Story

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 = '; setWidgetContSize2(); $('#cont_widgt_hp2').append(wgt_html); } } window.addEventListener("resize", function(e) { var mapElement = document.getElementById("cont_widgt_hp2"); setWidgetContSize2() }); function onContWdgtHp_iframeLoaded2() { $("#cont_widgt_hp2 .preloader_1").hide(); $url = $('#cont_widgt_hp2_iframe').attr('src'); $urldomain = 'http://'+($(').prop('href', $url).prop('hostname')); if($urldomain == base_url) $('#cont_widgt_hp2_iframe').height($('#cont_widgt_hp2_iframe').contents().height()); else if($url.indexOf("ms-widget") !=-1 && $url.indexOf("type=widgetv2") !=-1) $('#cont_widgt_hp2_iframe').height('655px'); try { ga('send', 'event', 'ContentWidgetIframe', 'Loaded',$url, { nonInteraction: true }); } catch(err) { } } function setWidgetContSize2() { } .fullWidthWidget{ margin:0 -20px 20px; } .preloader_1 { position: absolute; z-inde:1; width: 160px; height: 24px; left: 50%; top: 50%; margin: -12px 0 0 -80px; display: block; background: url(https://st.etb2bimg.com/Themes/Release/images/responsive/loader-transparent.gif) no-repeat 0 0; } @media screen and (max-width:999px) { .fullWidthWidget{ margin:0 -10px 10px; } } Most Read This WeekThis Month SC picks next six Amrapali’s projects for completionThe apex court ordered Amrapali to submit the business plan for these projectsEOW registers FIR against Delhi's ABW InfrastructureRelief under GST to be for future residential projects: ReportMumbai: Director of Kunal Developers arrested for cheating Chintan Lifestyle of Rs 101 croreFIR registered against Mahagun Group for constructions in violation of approved layoutShapoorji 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: MahaRERARERA creates a Rs 10,000 crore business for insurance companies Most Read in IndustryThis WeekThis Month Mumbai: Director of Kunal Developers arrested for cheating Chintan Lifestyle of Rs 101 croreValuations of office, retail assets surge on rising investor interestIIFCL tears into Jaypee Infra bid evaluation process, calls for fair reviewIBC, RERA conflict apparent in some bankruptcy proceedings: AssochamMahendra 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 CourtFearing spike in NPAs, NBFCs & HFCs help realtors sell better 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 ›Airtel leases over 50 seats in CoWrks' shared space in Bengaluru / CoWrks leases 1 lakh sq ft shared space in Hyderabad / Mumbai, Bangalore lead residential sales, launches in Q1: Report / CPPIB-Phoenix Mills investment platform buys Bengaluru land parcel for Rs 650 crore / Strengthening urban local bodies is key to India’s economic growth: Housing Minister / Corporate invests heavily on technology to better utilise workplaces: Survey / To successfully operate in low-cost housing, collections of loan instalments is key: DS Tripathi, Aadhar Housing Finance / Bengaluru- preferred city for office expansion in Asia Pacific: Survey / Berger Paints to invest Rs 150 crore to setup plant near Lucknow / EOW registers FIR against Delhi's ABW InfrastructureFeatures ›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

Trending South Dakota News:


  • Legislative Landscape: Seeking Reform
  • Ag land values decline
  • Rail line dedicated in Belle Fourche Industrial Park
  • Rounds to make announcement about US Senate run
  • South Dakota School of Real Estate
  • Chinese interested in South Dakota soybeans, pork
  • Winner, South Dakota Real Estate Lawyers
  • Former SD GOP Gov. Rounds plans to run for US Senate in 2014; Johnson seeking re-election
  • See the 11 men with Orange County ties who made the billionaire's list
  • Law on agricultural property taxes backfiring on homeowners
  • Multimillion-dollar cancer center planned for Pierre
  • Economy Watch: State Unemployment Rates Mostly Stable
  • United Real Estate Solutions opening a new "cafe-style" office in Dakota Dunes
  • Former Coyote great Jeff Nannen dies at age 55
  • Kevin Costner selling land in South Dakota
  • The 10 Best Cities to Develop an Investment Portfolio In
  • How Will Trump’s Regime Impact Commercial Real Estate?
  • Pierre, SD real estate & homes for sale
  • Local real estate team makes it a point to give back to community
  • Jerome Henry Klingfus, 73