Post-Real Estate Regulation Act, channel partners emerge as vital cog
With the dynamics of the real estate sector changing in post-RERA and GST era, developers are increasingly becoming dependent on channel partners to push sales through innovative ideas. “Channel partners have started adding more value in marketing and sales. They are increasingly acting as adviso
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Mar 21, 2018 5:03 AM
With the dynamics of the real estate sector changing in post-RERA and GST era, developers are increasingly becoming dependent on channel partners to push sales through innovative ideas. “Channel partners have started adding more value in marketing and sales. They are increasingly acting as advisors -- sales professionals than brokers. They are taking more responsibility and are accountable, with their registration under RERA, professional practice is improving fast,” property consultant JLL’s research head Ashutosh Limaye told PTI. Higher rewards Due to their changing roles, developers too are happy rewarding these channel partners higher for the value addition they bring in. Channel partners are agencies which take the complete responsibility of selling realty projects. The selling services are designed but not limited to a pre-agreed duration, for which these channel partners receive a set fees or commission for the services rendered. Business associates Omkar Realtors chief marketing officer Rajat Khandelwal said incentivising channel partners is primarily a strategy based on market and project dynamics. “For us, they are not only channel partners but also our direct business associates, making them a vital link to achieve the targeted sales. Developers understanding their importance offer them healthy incentives from time to time,” he said. Property broker Sai Estates Consultants’ Amit Wadhwani says developers are talking about providing amenities but not many actually talk about the people who sell the inventories once it’s ready. “So, it is going to be important to give larger share of the pie to channel partners. Also, a lot of B-school graduates are joining realty broking firms today or setting up start-ups that are servicing developers in major cities. “Whether it is a commercial broking or residential broking, this is going to be the space for next five to eight years where a lot of youngsters, new talent and technology will play an important role,” Wadhwani said. Hassle-free transactions Emphasising on the role of channel partners, Nahar Group Vice-Chairman Manju Yagnik said engaging a channel partner largely means increasing access to wider audience. “This marketing technique only means the industry is getting more organised, transparent and also more reachable without hassles. Having a channel partner eases the processes of looking for a property a lot and also increases options for customers. We engage with channel partners after extensive diligence and let play an advisory role to customers by guiding them appropriately. “This trend is looking progressive largely with a vision of having to meet the need of the relevant audience by studying sentiments and demands,” he says. Himanshu Kanakia, Managing Director of Kanakia Group said looking at the competition, it is important to incentivise channel partners as they are the first pillars of sales. He said the group incentivise the channel partners with more brokerage, easy payment plans, international holidays, among others, to motivate them to market well.
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