Ravi Karandeekar's Pune Real Estate Market News Blog: ‘In the future, it will be unusual for buyers to pay a commission’

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Friday, June 22, 2007

‘In the future, it will be unusual for buyers to pay a commission’

With the growth of real estate market in India, a host of MNCs are making their presence felt in India. Not only are international players present in financing, architecture, construction, and commercial space development; many are now entering the retail business of real estate—the business of brokering sale and rental of commercial as well as residential property. This business is the most fragmented and unorganised in the real estate space. L J Hooker, a multinational brokering firm, is one of the few organised players to enter this market. In a discussion with our correspondent , principal, L J Hooker, India Ramneek Bakshi, talks about the company’s plans in India and some of the changes that his company hopes to institute in the way we in India trade our property........‘In the future, it will be unusual for buyers to pay a commission’