A larger platform

Bilateral agreements in realty open up business opportunities and facilitate transfer of knowledge between member associations

(from left) Assen Makedonov, Vice-President, Central European Real Estate Association; Kirkor Ajderhanyan (International President of FNAIM); Irfan Razack, CMD, Prestige Group; Dominique Causse of the French Consulate with wife; and Farook Mahmood, Founder President-NAR, at the Hyderabad convention.

The National Association of Realtors-India Chapter (NAR-India) has signed two bilateral agreements – one with CREDAI National and one with Miami Association of Realtors.

The agreements are for cooperation in business and technical education. “This opens up business opportunities and facilitates transfer of knowledge between the associations,” says Farook Mahmood, Founder President, NAR-India, and CMD, Silverline Realty.

For recognition

Many prominent developers across the country prefer to deal through realtors who are members of trade bodies such as NAR-India. A bilateral agreement between these trade bodies gives the members a larger platform and gets them recognition with more developers. In these times such memberships help realtors reach out to a global clientele.

“There are many Indian nationals living in the U.S. The tie-up with the Miami association helps our realtors reach out to prospective clients – both homebuyers based there and looking for an option here, and corporates planning to set up base in India. The agreement gives the realtors the platform to deal with large industry players there,” says Farook.

Rental demands

There are many expats from the U.S. living in India who would be looking for a property in the U.S.

Also, there are many Indians going abroad on job assignments who look for rental accommodations for their stay.

This tie-up makes it possible for realtors in Miami to tap such prospective clients here.

“This bilateral agreement will promote more property deals as it is possible to reach out to a well-segmented target group in specific markets. There is a great need for property everywhere in the world. The property market in the U.S. just doesn't seem to be in the pink right now, and perhaps, is a signal to sell projects in India”, explains Farook.

FNAIM appoints local advisor

The French real estate federation – FNAIM – has appointed Farook Mahmood , as International Advisor of the federation. The announcement was made at the NAR-India convention held recently at Hyderabad.

“I plan to open up the realty market here to French companies and investors in a large way over the next few years. There is a great potential waiting to be tapped here. The French market has not really been explored by Indian investors,” says Farook.

There are many French companies in India across many sectors and many more will be coming in over the next few years. The increasing trade between these two nations will entail more property deals.

“The French companies will be looking at large commercial spaces, as well as residential accommodation for their staff. This opens up opportunities for realtors here. I will look at bringing in more investors from France as property here yields high returns when compared to realty there,” adds Farook.