The real estate industry is growing at a rapid rate, and even with this unprecedented growth in the real estate ecosystem, the industry is filled with challenges. Whether it's the high competition in the market or regulatory challenges, the journey is not smooth. Mandate players are real estate professionals who exclusively manage property listings for developers and play a major role. They work as a bridge between property sellers and buyers, and in this process, they face plenty of obstacles that hamper their growth path. By identifying the common problems, we can navigate through the complexities of the real estate industry.

Common Challenges Faced by Mandate Players

Miscommunication and Misunderstanding:

Miscommunication is a very common issue in the real estate industry. This often leads to misunderstandings, unmet expectations, and a breakdown of trust, whether intentional or accidental. It can severely damage the mandate players’ credibility and harm client relationships. Clear, transparent communication is essential for building trust and ensuring client satisfaction.

Complexity of Open Mandates:

Managing multiple agents under open mandates can be particularly challenging. This approach often leads to fierce competition, which can result in agents undercutting prices to secure deals. This not only compromises the property's perceived value but can also lead to inconsistent messaging and branding, confusing potential buyers.

Lack of data and analytics

In this era, data is the biggest weapon for any real estate player. Without utilizing real-time data, players struggle to develop effective marketing strategies, accurately value properties, and track market trends. This lack of data can lead to missed opportunities and less competitive positioning in the market.

Commission Disputes

Commission structures are a common source of disputes in real estate. Disagreements over commissions can strain relationships between mandate players, agents, and clients, potentially disrupting the sales process. Clear agreements and transparent communication are crucial to avoid these conflicts and maintain professional relationships.

The gap in client expectations

Mandate players handle multiple clients at a time, and all at once can be really troublesome at a time. Mandate players often fail to live up to the high expectations of the client, whether it is failing to provide a seamless transaction experience or a quick and transparent customer experience.

Technology Adoption

The real estate sector is increasingly adopting new technologies, from virtual tours to AI models and data analytics. However, traditional mandate players may resist adopting these technologies, fearing change or lacking the skills to use them effectively. Embracing technology is crucial for staying relevant and competitive in the modern real estate landscape.
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Relata, a leading proptech solution provider, offers a suite of products designed to address the unique challenges faced by mandate players. Relata has engineered a range of products to enhance transparent communication processes, provide comprehensive data analytics, and streamline operational processes. Ultimately, helping the mandate players become more efficient.

Relata's Solutions to Overcome Challenges

Enhanced Communication: Relata's Visualization Suite is built to increase transparency and accelerate the sales process. With world-class rendering and 360-degree tours, homebuyers will be able to see the real estate project as it is, therefore reducing the chance of miscommunication and ensuring transparent and efficient communication between agents and clients, reducing the risk of miscommunication and misrepresentation.
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Data Analytics: Our advanced analytics suite provides real-time data, helping mandate players make informed decisions, optimize marketing strategies, and accurately value properties.

Client Satisfaction: Relata solutions include AI models like Reiya to provide 24x7 service to clients and operational optimization solutions like our lead management suite.

Mandate players in real estate face a range of challenges, from market fluctuations and regulatory compliance to technology adoption and client management. With the help of technology, overcoming these obstacles becomes easier. Relata's solutions are designed to empower mandate players, providing the tools they need to enhance their operations, improve client satisfaction, and stay competitive. Book a quick demo with us today to manage your mandated operations and navigate the complexities of the real estate market with confidence.

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