Today in big cities, real estate brokers are more professional. Essentially, there are two types of brokers available. One is the more common type who operates on an individual level. He is a property agent who has some properties to let and allows people to rent it. Most of these types handle residential rental properties. The properties are in their own names or they handle for some party for a certain fee. The rent is usually fixed depending on the area and the apartment and involves a fixed deposit to be paid also. At a time, such a broker can handle as many premises they can have tenants. They get a fixed fee of 2% for their efforts.
Some of them work in tandem with brokers of other areas to make more money incase they get tenants. These brokers have existed for years together in the market. They also do other odd jobs, as only brokerage does not give a lucrative income. Such brokers do not even come under any association. However, for all practical purposes cities do have associations, which have members. In Mumbai, the real estate agents and brokers association has more than 300 members. These members have a card, which helps them to have a bonafide business. In case of disputes, the association helps the broker or the party depending on who needs them the most.