Challenges
The manual work this trade still runs on, what it costs, and what changes.
Buyer requirements kept in memory
- How it is done today
- Budgets, localities and property types live in the broker's head and a phone notes app.
- Cost or risk
- The right property comes up and nobody remembers which buyer wanted it.
- With Finocket
- Property type, localities, budget, purpose and loan status are fields on the buyer's contact.
Parties to a deal spread across contact lists
- How it is done today
- Buyer, seller, landlord, tenant, builder and co-broker are just phone contacts.
- Cost or risk
- Wrong party billed, and no record of who introduced whom.
- With Finocket
- One contact book with each person tagged by the role they play in the deal.
Site visits not written down
- How it is done today
- Visits arranged by call and remembered.
- Cost or risk
- Missed visits and no trail when a buyer later goes direct.
- With Finocket
- Visits logged against a project from the phone; a booking page takes appointments.
Brokerage agreed verbally
- How it is done today
- The percentage is agreed on a call or WhatsApp and recalled at closing.
- Cost or risk
- Disputes at registration over what was promised.
- With Finocket
- The agreed brokerage percentage sits on the deal and the invoice is raised against it.
Co-broker shares settled on trust
- How it is done today
- Shares agreed by phone; paid out from memory.
- Cost or risk
- Fall-outs with co-brokers and payments made twice or not at all.
- With Finocket
- Co-broker and their share are recorded on the deal.
Brokerage invoices made in Word
- How it is done today
- A template edited by hand, often after the money arrives.
- Cost or risk
- Missing GST details and no running record of what was billed.
- With Finocket
- A GST invoice per deal, with the property and your RERA agent number on it.
TDS deducted by builders never reconciled
- How it is done today
- Receipts arrive net of TDS; the gap is noticed at tax time, if at all.
- Cost or risk
- Credits the broker is owed are missed or argued over.
- With Finocket
- Each brokerage receipt records the TDS the payer deducted.
RERA numbers hunted down at the last minute
- How it is done today
- Project and agent numbers looked up when a document needs them.
- Cost or risk
- Documents go out without them.
- With Finocket
- The project's RERA number is stored on the deal and your agent number on the invoice. Finocket does not verify them.