Understanding Real Estate Business: How Does an Ideal Real Estate Company Operate? (Part II)

To present to a client how an ideal real estate company in Bangladesh functions, previously we published a post which covered the initial stages when a new project is undertaken from acquiring land to designing structural 3-D modeling. Today we will see the next phases starting from construction to handover to after sales service.

Construction

Perhaps the most crucial phase in the overall process is the construction stage. At first structural elements such as column, footing, beams are placed with meticulous care and planning. This is imperative because the foundation of the building plays an important role in the resilience of the building. Prospective buyers should visit project site in structural stages.

Quality Control

Reputed developer companies employ quality control at every stage to ensure construction is carried out accurately without any violation of rules. Sometimes some developer companies may violate some rules due to negligence or tendency. However, end user should check that the construction is in compliance with BNBC 2006 guideline to avoid future problems.

Construction safety

Construction safety is also of paramount importance during the construction phase. It is important for the Developer Company, landowner, and apartment buyer equally, since if any untoward accidents take place, then everyone is liable legally.

Apartment selling

At this stage, a developer company has already launched the project and price has been set. As an apartment buyer, before signing any agreement, client should go through the Deed of Agreement carefully. If there are a huge number of clauses client should go through all of them to avoid any future problems. Buyers should be aware of issues like apartment cancellation or delay charges they need to pay charges if apartment is cancelled or payment is delayed.

Customer service

When client is buying an apartment, it is important to check customer service of the developer company as it can be foretelling of a lot of problems client might face in the future. A good customer service entails professional advice, proper etiquette, fast response and quick resolving of issues.

Home loan

If client wish to purchase an apartment with loan, the customer service of the developer company can also assist client in the application. For instance, some developer companies have tie-ups with reputed banks to provide easy loan process at low-interest rates.  They can also counsel client if client face problems receiving the loan due to documentation problem or financial insolvency.

Ownership Deed

For apartment buyers, this is a very crucial document to have as client will officially become the apartment owner through apartment registration or Ownership Deed. Client should check the Ownership Deed meticulously to ensure its authenticity. Reputed developer companies can aid client in this service whether client has been provided all the required documents necessary for registration.

Handover

Handover of an apartment is perhaps the most anticipated stage of the home buying process for an apartment buyer. It is a joyful experience and a milestone, when client receive the handover of client apartment, especially if this is client first home.

After sales service

Even after client have received handover of the apartment unit, certain issues can remain incomplete such as formation of Apartment Owner’s Association, checking of utility services and so on. In such cases, it is the duty of the customer service department to handle such issues. However, some developer companies who are only concerned with making a sale can pose a lifelong problem for the purchaser if they ignore the customer’s problems.

To avoid such problems, client should check the developer company’s market reputation, client testimonials etc to make an informed decision.