The year was 2012. The financial crisis of 2007-2008, also known as the Global Financial Crises, was long forgotten. Indian real estate markets were booming. Investors were queuing up to lap all the inventory that the Developer fraternity was offering. The Developers, the Investors and the Realtors/Brokers were all doing fine.
However, as a Realtor, I felt something was missing for the Realtor/ Broker community. The realtor community was a highly fragmented one with intense competition. There were highly educated professional realtors in the sector and there were fly by night operators too. Consumers tend to trust the advice of realtors at face value, and subsequently if they realise that they have been misinformed by one, they tend to paint the entire realtor community with the same brush.
“The rise or fall, success or failure of your dreams is largely dependent on the association you build yourself around.”
I felt back then, that we needed a platform for realtors. A platform for professionals to come together, to network, to promote the real estate sector, to upgrade our skills, to share knowledge, to share best practices, to learn from each other’s experiences, to support each other, and to represent our interest with the Government, the Developers, the Clients and the other stakeholders.
In July 2012, an industry veteran introduced me to the National Association of Realtors – India (NAR-INDIA). He encouraged me to join the association so that like minded professionals can work together for the benefit of the profession. I became a member of NAR-INDIA in 2012 and the journey has been nothing short of amazing. Let me introduce NAR-INDIA.
About National Association of Realtors – India (NAR India)
The National Association of Realtors – India, also known as NAR-INDIA, is a national organisation of real estate brokers, known as realtors, created to promote the real estate profession and foster professional behaviour in its members. The association has its own code of ethics to which it requires its members to adhere.
NAR India was founded in 2008 with a handful of members, and as of 2020, it has over 50,000 direct and associate members, spread over 42 associations in 35 cities in 16 states in the country. It was formed with the support of National Association of REALTORS®, United States. The National Association of REALTORS® is America’s largest trade association, representing 1.4 million members, including NAR’s institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict code of ethics.
Members of NAR-INDIA, known as realtors, have access to a variety of benefits and tools designed to enhance their real estate businesses. NAR-INDIA also works to promote home ownership, and lobbies to protect the interest of realtors and the real estate industry at the government level. Its mission is “to help its members become more profitable and successful,” by “influencing and shaping the real estate industry”; and “developing standards for efficient and ethical real estate business practices.”
NAR-INDIA is the apex organisation of realtors in India which aims to enlighten Indian realtors and train them to imbibe and adhere to international best practices which in turn inspires confidence in investors and consumers. The core focus Is to elevate the standards of practice of the real estate brokerage business to a global level by promoting ethics, transparency, accountability and respect for rule of law and good governance.
Who Can Join
Any real estate agent in good standing can join one of the 42 associations of NAR-INDIA. Members of local associations are automatically given membership of NAR-INDIA. Annual NAR-INDIA membership dues of only Rs.1,000 plus GST are billed through the members’ local associations.
NAR-INDIA members receive a variety of benefits, business tools, real estate market data, research and statistics, educational opportunities and discount programs geared towards helping real estate professionals succeed in business. A member has access to certain benefits, business tools, real estate market data, educational opportunities and discount programs.
The use of the realtor trademark has been made available by NAR- INDIA to those members who have taken the International Realtor Membership of National Association of REALTORS®, United States. Did you know the term REALTOR® is a registered mark of the NATIONAL ASSOCIATION OF REALTORS® and can only be used by members of the REALTOR® organisation?
The formation of NAR-INDIA has helped the Real Estate Sector in many ways. Some of these are:
- It is a one-point contact for communication and redressal, if any for all stakeholders like CREDAI, NAREDCO, Ministry of Housing & Urban Affairs, RERA Authorities and various National & State Government Departments. Feedback on the rollout of new policies can also be taken from NAR-INDIA.
- Policy regarding the marketing arm of the real estate industry can be discussed with and inputs taken from one trade body.
- At the local level, it is easy to roll out promotional campaigns, incentives, etc. to launch new products and gain instant visibility and acceptance from the market.
- Being part of the Central RERA Advisory Council & lobbying at Central and State Government level has given us both, direct and indirect benefits. Inclusion of the clause of acceptance to pay brokerage at the time of signing of the agreement in the model agreement as suggested by MAHARERA, and being part of the reconciliation body are 2 cases that make the point.
The benefits of formation of NAR-INDIA to the Realtors community has been immense. Some are being highlighted below:
- It has provided a great platform for multi-city broking solutions to clients.
- Excellent forum for networking & forming relationships across the country to enhance individual company performances.
- NAR-INDIA members are exposed to training and knowledge up- gradation on a continuous basis about best practices in our profession.
- The REMET test and other certificates offered on completion of training programs like the recent ones with RICS not only increase knowledge but also enhances the credibility of NAR-INDIA members.
- Following its code of ethics separates its members from the rest of the realtor fraternity. Following protocols enhances the members ability to do intercity transactions with colleagues.
- NAR-INDIA is shortly introducing real estate courses and certifications for members to upgrade their skills through learning and development. All these courses will be developed by Indian Institute of Real Estate (IIRE) which is NAR-INDIA’s own educational wing.
- NAR-INDIA in collaboration with RICS has also introduced an online real estate certification course which will up-skill & upgrade its realtor members. RICS is the world’s leading professional body for qualifications and standards in land, property, infrastructure and construction.
- There are numerous benefits because of our association with International associations like NAR-US, IEA Singapore etc. Because of our association with NAR-US, in addition to the powerful worldwide REALTOR® network, NAR-INDIA members receive a number of valuable business tools to help differentiate them from other real estate agents, including:
Business & Global Networking
- Profile on Find a REALTOR® Directory
- International REALTOR® Referral Contract form
- Registration discount for the REALTORS® Conference & Expo
- Exclusive REALTOR®-only social media groups
Marketing & Brand Awareness
- Use of the REALTOR® logo and trademark
- NAR member card
- New REALTOR® press release
- Website “badge”
- E-news subscriptions
Education, Research, & Data
- Discounts on NAR education
- NAR research
- REALTORS® Property Resource (RPR®)
- eBooks from NAR’s virtual library
- EBSCO’s collection of over 5,000 industry-related journals, newspapers, and magazines
- REALTORS® Content Resource, offering sharable content only available to REALTORS®
- NAR-INDIA has also signed an MOU with IEA, Singapore. The MOU has been signed to promote a high standard of practice and the enforcement of professionalism in the real estate industry in both countries and to seek business opportunities for members of both associations.
- NAR-INDIA is a part of the RERA Panel constituted by Ministry of Housing, Govt. of India and it makes sure that our voice is heard. NAR- INDIA advocates for federal policy initiatives that strengthen the ability of members to do business. It has been consistently lobbying for policy initiatives that promote and protect the members business and the Real Estate Industry.
- During Covid-19 times, NAR-INDIA realised that one doesn’t need to meet to communicate and acted to see that it’s members benefit in this unexpected downtime. India has been in a lockdown since March 25, 2020 and we have started opening in phases. In this lockdown period, NAR-INDIA and its various associations has organised more than 80 webinars and training sessions for the benefit of their members. The topics ranged from Force Majeure, Real Estate Trends Post COVID-19, NAR-INDIA – RICS Training Program on Valuation Methods and Techniques, Yoga of Emotions, Industrial Real Estate, Commercial Real Estate, Retail Real Estate, Digital Marketing, Taxation, REITs, Fractional Ownership, Branding for Realtors, Key to Wellness and fulfilment etc.
- The NAR-INDIA Annual Convention is one of the most anticipated real estate events every year. The convention brings realtors, developers, investors, and other stakeholders in the real estate industry, from India and around the world together to interact, learn and create meaningful business connections with each other. The convention gives every participating individual and organisation the perfect stage to forge reliable business associations, form business strategies and troubleshoot with experts to make their business a more profitable and successful one. The Convention also provides the ideal opportunity for developers to showcase their work to realtors and investors. Likewise, it also gives realtors and investors a chance to obtain accurate information about the latest projects and investment opportunities of developers from across the country. The learning and interactive sessions that are held over the 2-day convention provides every participant a better perspective of the growth and future of the real estate industry.
- The recent roll out of NAR-INDIA’s market intelligence report called ‘Raw & Real’ and newsletter, will help members to be better informed and stay connected with each other. NAR-INDIA is also working on to provide a host of research reports, which attempts to predict future sales trends. Others are local market reports, which analyse a host of data, and a confidence index. NAR India’s close to 50,000+ members have their ears to the ground and feet on the street. Thanks to them and their deployment of expert teams to collect and analyse information, NAR India is now on its way to develop a robust database and will be able to use advanced analytics to forecast very accurate numbers and trends, and thereby decipher market trends across different real estate asset classes in the country.
- NAR-INDIA annually updates its strategic plan to reflect the challenges and opportunities that the association and the real estate industry expect to confront during the next three to five years.
- Recently, NAR-INDIA and CREDAI Action Committee have joined hands in promoting the Petition to the Government of India, Prime Minister’s Office, Urban Housing Ministry and the Finance Ministry to REVIVE REAL ESTATE to REVIVE ECONOMY. The Joint Action Committee is gunning for 1 lakh signatures on the Petition and create a movement from this momentum that will benefit the Home & Property Buyers, Developers, Real Estate Brokers/ Agents & Realtors and all ancillary associated Industries like Architects, Interior Designers, Banking Mortgage and Loan companies, Funds, Steel & Cement Suppliers etc. The two prime demands of Real Estate Brokers that are long pending have been incorporated in the petition – One Nation, One License under RERA for all Real Estate Brokers and GST on brokerage rationalisation from 18% to 5%. One can sign the petition by clicking the following link – Click Here
- NAR-INDIA fully embraces perspectives from all walks of life — regardless of race, ethnicity, gender, religion, age, socioeconomic status, political affiliation or any other qualities by which we may define ourselves.
My journey with NAR-INDIA over the last 8 years has been incredible, to say the least. I have had the opportunity to interact with thousands of real estate professionals from all corners of the country and from around the world. Each one of them have their respective perspectives and practices, and interactions with them has helped me to learn and grow as a realtor and as an individual.
NAR-INDIA has given me the benefit of a collective voice to lobby for realtor benefits with all stakeholders including the Government, RERA authorities, the Developers and the Corporates. It has provided a platform to network and learn best practices from various communities. It has given me access to some of the best formats available for running a brokerage business. And through annual conferences and continuing education courses, I have been able to polish my skills and improve the chances of success in this highly competitive industry.
NAR-INDIA has also given me the opportunities to showcase the Indian Real Estate Market to the world. I was invited to speak on the Global Day Presentations at the NAR Realtors Conference at San Francisco, US in November 2019 along with representatives of China, Philippines, Japan, Thailand, Malaysia, Korea and Australia.
During the current lockdown, I have represented NAR-INDIA and have showcased the Indian Real Estate Market Webinars with Associations from the US, Singapore, Thailand, China, Vietnam, Philippines, Cambodia, Indonesia, Japan, Korea, Malaysia and Taiwan. These representations open a world of networking opportunities for you and make you realise that the world is a big marketplace with immense potential for global transactions.
Words fail me, as I list out the immense benefits that I have enjoyed because of joining an association like NAR-INDIA. As you serve your clients, NAR-INDIA exists to support its members. Nowhere else can you join a premier trade association that truly represents the interests of the real estate professional.
Join us and become involved in shaping your future and the future of the realtor profession and the real estate industry.
To know more or to join NAR-INDIA, please feel free to connect with our General Manager – Ms. Ekta Jain at email@example.com