UK real estate agent franchise launches in India

Winkworth, franchisor of London’s largest chain of residential estate agents, has announced a new venture into the international residential property market with the signing of a master franchising agreement in India and the opening of a new office in Bangalore.

 

A master franchise for India has been agreed with Narayanan Soundararajan with the aim of seeing Winkworth franchised offices opening across all major cities in India.

Besides the Bangalore office, which is to be opened and financed by Soundararajan this month, two more offices in Chennai and Delhi are planned for 2013 on the same basis.

Soundararajan will manage the Winkworth Indian franchisor offices and, with extensive experience in real estate, is expected to be a great asset to the Winkworth team. Having worked as managing director for the Royal Bank of Scotland in India during his career in investment banking, he also has considerable experience of working with an established and respected brand in a foreign market.

The firm said that the main aim is to create a network of franchises in India based on the UK model of franchised estate agency, with customer service being paramount.

Focused primarily on the domestic Indian housing market, the new franchised offices will work for only one party in each transaction rather than for both sides, marking a departure from the existing practice in India. The franchised offices will also look to build close relationships with respected and credible developers in India that are able to deliver quality products on time.

In collaboration with Winkworth’s UK network, the Indian franchised offices will also be able to offer support and advice to prospective clients looking to buy in the UK, thus making the buying process as simple and stress free as possible. This will also be available to buyers in the UK looking to invest in real estate in India.