Last year just before the onslaught of the pandemic, I decided to rent a place closer to my office.
It was mid-February, I wanted to cut down on the daily commute.
In the first week of March, I found a broker and paid the brokerage. I was supposed to shift by mid-March.
The following week, everything came to a standstill. Pune was worst hit.
WFH was declared and I was forced to drop my decision of shifting.
I demanded my brokerage, citing the obvious.
The broker was not rude, but a difficult conversation was imminent.
After a series of follow-ups, I received 50% of the brokerage back.
A few weeks back, the same broker called me, asking whether I need a home for rent.
We had a short conversation but I might seek out his help again.
The bottom line is that brokers are here to stay.
They are the glue between supply and demand.
Neither supply nor demand want to have those difficult conversations.
The supply and the demand have their egos and values to protect.
The broker is like a matchmaker with all the databases of inventory and locations. Thick skin and experience to handle difficult conversations is their forte.
A platfrom cannont replicate the tacit knowledge and behaviours that brokers have on offer. Not yet.
That’s where we pay a premium the “Brokerage”
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