Property Mandates – A Must for the Patna Real Estate Sector

If you are looking to Buy / Sell / Rent a Property in Patna – Do it through a Property Mandate!

What is property mandate? A mandate is an agreement between a Seller/Buyer/Home Seeker and the Real Estate Agent(s) regarding finding or marketing of a property, seeking potential buyers / sellers / tenants or landlords and completing the necessary paper work and legal formalities.

Property Mandate

Giving a Property Mandate would serve several advantages to you in Patna while it will also maintain a customer loyalty factor for your Real estate agent in Patna. A few advantages of carrying out a Real Estate Transaction in Patna by issuing a Mandate are: -

1. High Motivation for the Agent

As only one real estate agent is given responsibility to transact your property his/her reputation, and that of his agency will be on the line, so he/she will likely be highly motivated to go the extra mile and achieve results.

2. More Advertising and Marketing by the Agent

The agent in the same way, will feel obliged and probably will spend three or four times the usual budget on advertising your inventory / requirement on various platforms.

3. Quick Result and More Transparency

If the property or requirement is correctly priced, the transaction takes place quicker than those of properties without a mandate. It is also easier for the potential buyer / seller / landlord to develop trust as the mandated agent has a sense of loyalty from you and hence would be patient and transparent with your demands and expectations. In numerous cases, transactions do not mature due to untrue information provided by real estate agents in Patna about the property.

4. No Price War – The biggest reason for transaction failure

With mandates, a single selling price is agreed at the outset and there is no chance of rival agents starting a price war. Mandates encourage buyers to compete on price and do not give a chance to other agents to spoil the property’s price in the market, which is often the case in Patna property market. Sellers/Buyers in Patna often suffer due to lower/higher false pricing projected by various realtors on real estate platforms of a property for sale.

5. Transparent Commission

A mandate clearly defines the commission that will be charged by the real estate agent in Patna for particular transaction. This is highly advantageous as you know exactly what you would be paying as the agent’s service fee post completion of the transaction.

Keeping all the above points in mind, we highly recommend you to only transact real estate with professional and licensed real estate agents in Patna through signing a property mandate with them.

Naubatpur; an ace investment destination for land buyers in Patna

If you want to put your money somewhere and forget about it, buying land in suburbs of Patna like Naubatpur could be the investment vehicle you’re looking for. Think about it: land is a long-term, tangible asset that doesn’t wear out and doesn’t depreciate. If you go into investing in land with the intent of holding the right property for the long-term , it can make a lot more profits than any other investment asset class out there. Buildings can be replaced and demolished, whereas land is a valuable and finite resource , with only limited quantities available. And Bihar has a population of 15 Crores and per capita income of Biharis are increasing in double digits. Land investing is for the patient, smart investor, someone who is willing to hold for the long-term or pass it on as a legacy. It’s for the investor who is looking ahead for 10 – 15 years. Land is a smart long-term hold, allowing you to win the benefits of rising values. Especially if you buy in an area like Naubat

5 TOP LOCATIONS TO INVEST IN LAND IN PATNA

How to pick a desirable Investment location in Patna Real Estate? There are a lot of factors that are important when it comes to select a property to invest in Patna real estate. A great location is one of the most important factors. However, finding out whether a property in Patna has qualities that you are interested in and a great location suitable for investment; requires quite a bit of research and even search. It's important to recognize that the locals are an invaluable source of knowledge about any location for investment in Patna real estate . Just mention to someone in a local chai dukaan that you are looking to buy land in the area !! You'll find that people are more than willing to share knowledge and insights about that area. You will be told even about the number of transactions going on in recent times and even tentative prices prevailing in that area in that chai dukaan . Locals can give pointers as to the most profitable locations in Patna real estate.

Land Prices in Patna and Patna Real Estate.

Buy Land in Patna It is the rising price of land in Patna that keeps the price of real estate in Patna always increasing because the land price is the most important price factor in the real estate price in Patna. But at the same time land prices in Patna are also dependent or better say partially dependent on real estate developments in Patna. With rising real estate developments the land prices too head northwards. This very symbiotic relationship between land prices in Patna and development in Patna real estate is major cause of real estate bubbles in Patna. Yes, it is interesting to decipher whether it is high prices of houses in Patna that makes the land prices in Patna higher or is it high land prices that makes buying a house in Patna exorbitant. The price of property in Patna is made of material cost, labour cost, intangibles like location & brand, marketing and administration costs (for builders and developers in Patna), registration & stamp duty cost, tax

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