Real estate is one of the richest industries in the world. Therefore, it is reputed as a real estate industry in developed countries. However, there is a difference of opinion regarding developers or agents who facilitate transactions in real estate in Nepal.
There is only one reason for this – the inability of real estate agents to work professionally.
The profession of a real estate agent can become prestigious in Nepal if you do business in a global way by following the rules and regulations. The number of registered agents working professionally has been increasing day by day.
Highly educated, studying the good practices of the real estate industry around the world, many agents have started working in the Nepali market institutionally.
How to work to be successful in the real estate broker or agent profession? Established brokers have suggested some measures.
Doing business only by registering
There is a lack of definite policies and laws to manage the multi-billion dollar real estate business. Most agents in Nepal are working as real estate agents independently.
As they do business without registering their business and do not pay taxes, on the one hand, the government is losing huge revenue and on the other hand, legal battle will be difficult if investors are hit.
Therefore, you should register your business with the concerned body of the Government of Nepal. In this way, the real estate agent can secure the transaction by providing the right service to his client.
Recently, the number of people working as real estate agents in Nepal has been increasing. The younger generation is also being attracted to this profession.
Now, the number of people doing business in Nepal by setting up a real estate company is gradually increasing, says Bikram Lama, director of Nepal Bhumi Real Estate Agency.
“If technology is used properly, even a small amount of hard work can earn a good income,” he says, “so the younger generation has recently been attracted to real estate agents.”
Young people who have returned to Nepal after gaining experience in this profession from abroad
To maintain transparency
Santosh Pradhan, the manager of Property 360, says that the agent should be transparent about the area, nature, ownership, legal documents, services and market price of the real estate and give the real details to the buyer.
“It is the religion of a good agent to inform the buyer at the outset if there is a legal problem with the real estate he is showing,” says Pradhan. The buyer must be informed. ‘
This will increase trust in the agent and increase the chances of other clients being recommended, says Pradhan. “An agent who is transparent and does not intend to cheat can establish himself as a reliable agent as soon as possible,” he said.
First the consultant, then the only agent
According to Pradhan, it is not good for the agent to forget his position and go for sale or purchase of land as soon as possible in the greed of commission.
“It is the duty of every agent to provide as much information as possible to his client based on the available real estate and budget constraints,” he said.
Many customers worry that the agent will cheat them. To be a successful agent, you need to be a good mentor.
The attitude towards real estate agents in Nepal is negative. Rajesh Shrestha, managing director of Access Real Estate, says that a good consulting agent can change the way the public looks at the profession. “Agents can provide quality service by giving customers the option of maximum asset selection,” he says.
Prasanna Dharel, vice-president of Nepal Real Estate Organization, says that the agent will be successful soon after identifying the needs and capabilities of the real estate buyer and giving advice accordingly.
“You need to study the area you want to buy, the soil, the climate, the settlement development, the service facilities,” says Dharel, who is also the operator of Smart D-State.
“Using the right technology for the right job at the right time reduces operating costs,” says Santosh Pradhan, manager of Property 360 Nepal.
Expanding relationships and networks
Rajesh Shrestha, the operator of Access Real Estate, says that it is not always possible to provide one-to-one service to all the customers who contact him for buying and selling property.
“It is imperative for every agent to expand their network,” he says. In this case, the contact does not have to return. For that, you need to build a good relationship with an experienced agent. ‘
The real estate agent business depends on the network and the relationship. Shrestha, the operator of Access Real Estate, says that he should create a network of businessmen and potential buyers and sellers through his friends and relatives. “Any agent can be successful,” he says.
Shrestha says that if the customer can be satisfied with a good consulting service, the agent can get ample customers from this network. “This way the agent can grow his business,” he says.