In an exclusive interview with Realty Plus, Tarun Bhatia, Chairman – National Association of Realtors-India (NAR-INDIA) & Vice-President of North Zone President – Association of Property Professionals, Delhi NCR spoke about his views on role and importance of NAR in the realty sector.
NAR and its initiatives in the recent times
NAR-INDIA was established eight years ago as the apex national level organization of real estate brokers, representing professionals across the length and breadth of the country. Today, spread across 28 member associations in India with an overall reach of over 20,000 brokers, NAR-INDIA continues to maintain international affiliations with IRPF, NAR Global, ICREA, FIABCI, MIPIM, FNAIM, IEA, MIAMI, AMPI, AEGI and AREAA.
At the national level NAR-INDIA has signed bilateral agreements with CREDAI National, NAREDCO, NICMAR, MACCIA and IIRE and has association with the National Housing Bank (NHB) – the country’s housing finance regulator under the Reserve Bank of India, Government of India.
Activities
- Provide access to skills and educational opportunities for real estate professionals
- Create networking opportunities for its members through meetings, networking evenings, events, conferences, seminars and conventions
- Establish bilateral and mutual relationships
- Undertake market research and disseminate information
- Lobby with government at national, state and local levels
- Ensure that every member subscribes to and follows the Code of Ethics
NAR-INDIA aims to elevate the standards of practice of the real estate brokerage business to a global level. Providing meaningful real estate education to all its members is one of its focal points. Keeping this in mind, an ‘Education Committee’ has been created with members from various state associations, to design the methodology of imparting various education programs, develop real estate education standards, conduct various real estate programs and certify real estate professionals based on standardized education programs.
NAR-India commissions independent research to provide information, stimulate debate and promote leading-edge thinking among their members, policymakers and key influencers in business.
Brokers as the integral channel partners for developers
Developers start engaging with brokers as soon as they start planning a realty development/project. They take their inputs at the planning and designing stage of the project. Once they are ready to market the project, the developers engage with brokers to take their viewpoint on the pricing and the different payment plans to be offered to prospective buyers.
They also take inputs on the marketing strategies including the various advertisement mediums to be employed to market a project. The developers depend heavily on the brokers for the initial sales impetus which they require when they launch the sales of a project. From launch till possession, majority sales in a project are contributed by brokers.
