Builders woo brokers with foreign tours | mumbai | Hindustan Times
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Builders woo brokers with foreign tours

mumbai Updated: Dec 16, 2010 02:34 IST
Naresh Kamath

Faced with a drastic decline in the real estate market, builders in the city are wooing real estate brokers to help boost sales.

Real estate brokers — who were, till recently, a largely ignored breed — are being offered a host of incentives. Offers include foreign junkets, higher brokerage and expensive gifts like high-end cars.

“We were ignored during the peak season, but now, when the market is down, these builders are desperately seeking our help,” said Yeshwant Dalal, president of Estate Agents Association of India, the apex body of real estate brokers.

Some high-profile builders like DB Realty, Parinee Developers, Hicon, Lodha and Kanakia Spaces have even hosted swanky parties at five-star hotels to announce projects to brokers.

Kanakia has increased brokerage to 2% from 1% (of the total flat cost) while the lease rent brokerage has also been doubled.

Lodha has announced that brokers who get a five-flat deal will be eligible for a holiday in Hawaii. Similarly, DB Realty has offered three packages.

Lucky brokers, depending on the business they bring in, will get a fully-paid family holiday in Malaysia, United States or a world tour.