Why And How Does Reputation Build Trust Among Consumers? Real Estate Investment

Why And How Does Reputation Build Trust Among Consumers?

  • 22 August 2019

The decision to purchase a house is one of the most important ones, financially and even emotionally, that a buyer makes. The next step is to find a suitable property in terms of house type, locality, amenities etc. that gels with the budget. Then comes the most crucial part – choosing the right brand, builder and project. Many times family, friends, brokers might have differing views on whether the buyer should opt for a reputed business with a long presence in the market or a relatively newer one who is offering a price cut. This is a personal choice that a buyer will ultimately make. But there is a reason that the top brands in the real estate sector have gained that reputation.

So why should you opt for top real estate developers when investing in a home?

Long Term Trust

One of the foremost reasons that the top brands reach that position is because they have built not just houses over the years but also a reliable rapport with their buyers that trusts them with their hard earned money. This trust is developed, not just because their name is plastered on large hoardings across the city, but because they have delivered on their promise to their buyers (e.g. sold quality products on time). Respecting the buyer is the foundation of their success.
You might have seen projects getting sold out as soon as they are announced by some top builders in Pune. This is because the customers trust them to deliver and are confident of investing their money in a project that is still on paper.

Accountability and Transparency

Buying a house means a huge financial investment. This investment cannot be placed with just any real estate developer. Opting for well-known real estate developers also means that your money is in secure hands. These companies follow established rules and regulations while dealing with their customers. These top brands have a reputation to protect and make sure that their customers always get the best deals such as offering the prevailing selling rate, no hidden costs (such as extra parking fees), surety that the project is developed on non-disputed, clear title land, payment schedules as per stage completion, furnishing the OC certificate on time among others.

Timely Project Completion

A company becomes a top real estate brand when they ensure customer satisfaction. Nothing convinces a customer of the company’s reliability as delivery of the completed project in the stipulated time frame as it is related to their EMI cycle. The fact that the builder could adhere to the timelines means that their company is in sound financial state and run efficiently, further bolstering their reputation. Many small time builders struggle to deliver projects on time due to varied factors, financial, structural or others, putting a burden on the customer and eroding their trust in the real estate companies.

Construction Quality & Amenities

Another plus of choosing a reputed builder is that, in most cases at least, the good construction quality is assured. The quality of construction forms the backbone of any residential project as it guarantees longevity and sustainability of the building. In addition to the superior construction, top real estate developers also offer multiple modern amenities under a single roof.

It is quite common for major real estate companies in Pune to offer a variety of amenities such as club house, gym, jogging track, tennis courts, badminton courts, Amphitheatre, full generator back up, water filtration units, rain water harvesting etc. These facilities are another incentive given by the builder to attract potential buyers. But it is mutually beneficial for both the builder and the customer – the builder widens their customer base whereas the buyer gets a host of features at walking distance, in the very complex that they will live.

RERA Implementation

All the reputed real estate companies are registered under RERA. This makes them accountable to follow the rules and regulations – there is less chance of foul play, more transparency in pricing, flexible payment options, timely project completion etc. And this is a fact that they want their buyers to be aware of as it enhances their reputation and trustworthiness in the eyes of the buyer.

Easy Home Loan Approvals

When you choose to buy a home with an established builder, your home loan sanction from the bank also becomes easier (many big builders have tie-ups with banks to facilitate as compared to getting your loan passed when buying from an unknown builder. The lending institutions are more assured of the background, reputation and financial viability of the company in case of a well known brand.

Higher ROI

Choosing a property from a known real estate developer will also mean that it will give more return on investment in the future. Selling a property from a reputed builder, that is known to be in a good location, offers good construction quality, amenities, better connectivity to other city areas etc. is bound to hike the sales price making the property a prized possession. That could be one of the reasons that some projects from real estate developers in Pune command top price in the resale market.

Finally, purchasing your dream home is a once in a lifetime decision, so before booking a property, it is advisable to do some research on the builder (financial solvency, completed projects, buyer feedback etc.), compare projects from other developers and then make an informed choice.

A top real estate company in Pune is Mahindra Lifespaces, who are offering 2 BHK flats in Pimpri Chinchwad. A reputed brand all over India, Mahindra Lifespaces have 2 top class projects in the highly favored location of Pimpri – Mahindra Centralis and Mahindra Antheia. Customers interested in buying flats in Pune can choose from 1 & 2 BHK modern homes in Centralis or premium 2.5 & 3 BHK flats in Antheia.

 

References:

1. India Bulls Real Estate – Why you should buy a home from a reputed real estate developer

2. Merlin Projects – Advantages of purchasing a property developed by a reputed developer

3. Vakil Housing – Why investing in a brand name matters in real estate



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