Saturday, December 23, 2006

Better Homes finds success in Indian market

Better Homes, Dubai based real estate agent, has reported that they are astonished to see the market reaction in India, after entering into the booming real estate sector in India. Though the Company, with its head office located in Mumbai, India, was initially worried about how well the buyers would accept an international company which would be more expensive than the local agents. They were also apprehensive about how well the property developers would consider the option of selling through an agent rather than selling directly to the buyers.

However, according to Ryan Mahoney, the Managing Director of Better Homes, the company has completed solid three months of business with a few hundred transactions and the overall response has been very positive. He added that though the initial task of convincing the people that a foreign company does not necessarily mean that it is expensive was difficult, they were able to gain confidence of people to a great extent and now the upcoming middle class are contributing more to their business than the high value properties. The company has found the response from developers also to be equally good.

Better Homes is now planning to set up six offices in Mumbai for brokerage services to residential and commercial property in addition to its head office located in Lower Parel. However, the company agrees that when compared to Dubai, it takes longer to receive payment from clients which could at times result in temporary cash flow problems.

Mahoney said that the positive response from Indian market has given enough confidence for further expansion plans and the company is aiming towards being known as a global brand.

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