• Tuesday, Jan 31, 2023
  • Last Update : 10:24 am

Putting a stop to an endless cycle

  • Published at 05:39 pm March 9th, 2020
bproperty issue 21

Any developer who signs a partnership with Bproperty can have access to this vast reservoir of potential buyers and speed up the sale of the properties in their projects

While buying a property is a sizable investment, developing a real estate project is even more so of an investment; because, if the project does not pan out and fails to attract enough buyers to even recover the expenses, the investor may be utterly doomed–conscripted to file for bankruptcy or worse. That is the risk and fear every real estate developer must overcome. As a way to minimize the risks, as well as find a solution to all-too-common financial shortcomings, a vast majority of residential developers rely on the incoming cash flow from selling the forthcoming properties in the project to finance the project itself.

But as history has shown us, betting such as this has not always produced a positive outcome as, more often than not, these results in schedule delays due to a shortage of buyers and/or irregular cash in-flow. This, in turn, has created a negative impression among prospective buyers and dissuades them from investing in such projects — creating a never-ending cycle, resulting in businesses suffering devastating financial crisis, and consumers enduring unimaginable amounts of suffering. But, after so many years of hardship and anguish, there are signs that there might be a way out of this vicious cycle for the developers of the country in the form of Bproperty as with each passing day, the organization becomes more synonymous with the words “Trust, Quality, Excellence and Convenience.”

Ever since Bproperty began its journey in 2016, its goal has been to create a real estate platform for the people where verified properties can be bought and sold, as well as where buyers and sellers can find all forms of real estate related support and services under a single banner — something the property buyers, sellers and developers of the country desperately needed. Bproperty’s emphasis and focus on only dealing with properties that are verified and of the highest quality has garnered them quite a reputation over the years. Furthermore, each and every property they market on their platform is independently verified, by an in-house legal team, so no outside influence is present.

All of these have allowed Bproperty to earn the trust of the people and that is why more and more developers are now coming onboard with the organization with the proposal of marketing their properties. However, as stated previously, not every developer “can” sign a partnership with the property solutions provider, as any interested party must ensure that they can uphold the quality and reputation that Bproperty has worked over the years to build — including handing over properties to buyers in due time — and that is exactly what the developers coming onboard with the organization are doing.

Over 75,000 people on average connect with Bproperty monthly in search of real estate support and services — a big portion of whom are looking to buy apartments. This market segment is almost entirely untapped by the country’s developers as many of them still rely on outdated marketing methods and wait for the consumers to come to them. Any developer who signs a partnership with Bproperty can have access to this vast reservoir of potential buyers and speed up the sale of the properties in their projects. But aside from having the opportunity to market their properties to this vast pool of prospective buyers, which can help the developers end their endless cycle of waiting for incumbent cash flow, there is still another major hurdle that Bproperty can assist in overcoming.

Real estate enthusiasts of Bangladesh have long endured handover delays — which has created the perception that aside from a few developers at the top, no other builder delivers on their promise on time. This has severely limited the business capacity of the developers who have the commitment and ability to honour their schedule but suffer a limited chance to prove their worth. This is having a detrimental effect on the entire industry and creating a sort of monopoly, where other newer or less mentioned developers are having a tough time surviving.

But the same cannot be said about the developers partnered with Bproperty, as the consumers of the brand believe that any organization associated with Bproperty has the means, resources, and the dedication to provide quality products and, more importantly to some extent, the ability to deliver them on time.

Bproperty, at the moment, holds a position of trust among the consumers of real estate. They have the opportunity to bolster the entire industry without compromising the aspects that have helped them achieve the position they are in. Real estate developers, both established and emerging, can align themselves with the property solutions provider to improve their business as well as earn the trust of clients. However, that alignment is possible only if they are capable of adhering to Bproperty’s standards. But seeing the fact that forming such a partnership can enable these developers to rise above this endless cycle of real estate mistrust and failure, such a course of action may just be well worth it.

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