Group Buying Real Estate: Everybody Wins..
Group buying is an interesting new
trend that is garnering attention from everyone who has any stake in the real
estate market.
In this model, groups of buyers
approach developers either directly or through agent representation to
negotiate scale-based bargains which would be impossible individual home buyers
to achieve. It works - and it in fact has special pertinence in the festive
season.
For Buyers..!
Property buyers have been waiting
for real estate prices to come down for quite some time now, and the fact that
it is now a buyer’s market is ensuring that developers offer better deals,
bigger discounts and a host of freebies.
Groups of friends, family and
colleagues or even of like-minded strangers who are interested in the same project
are in a beneficial position when it comes to cumulative bargaining power.
For Developers / Builders..!
Group buying is beneficial for
developers too, as most of the big players are sitting on huge unsold
inventories.
Instead of approaching individual potential buyers at huge
dedicated marketing costs, it makes eminent sense for them to negotiate with
groups of buyers and strike a deal that brings in substantial amounts of
much-needed liquidity immediately.
The Festival Season
Impact
 |
| Ashwinder Raj Singh, JLL India |
Seeking to cash in on the upbeat
consumer spirit during the festive season, real estate developers are already
active with discounts and freebies.
While selling real estate in bulk is
definitely a route developers will seek to encourage and promote throughout the
year, the concept of group discounts dovetails very logically with the
incentives-driven festive ethos.
Bulk buying of real estate is being
pursued not only by buyer groups but also real estate brokerages, which
represent such groups and can often negotiate the best possible deals.
In fact,
even fund houses looking for investments in real estate have considerable
interest in this platform.
It is always profitable to invest in an under
construction project so as to obtain the most competitive prices and sell off
these holdings at a later date for healthy profits. In other words, group
buying of real estate is, in today’s market environment, a proposition where
everybody wins.
About the author
Mr. Ashwinder Raj Singh is CEO at (Residential Services) at JLL India.jpg
For media contact
Arun
Chitnis
Head
– Corporate Communications & Media Relations
JLL
India
Pune
411001.
Tel:
(020) 30930441 Fax: (020) 40196101
Mob:
+91 9657129999
Twitter: @JLLIndia
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