What does it take to sell – Real Estate?

It was end of an era. A crowd in thousands was standing outside the auditorium. It was his first public interaction. He was to reveal his story of success, which he has built from nothing. He was the role model for thousand of sales people who were in and out of the building waiting for him to speak. He was the greatest sales person of all time in Real Estate. He started his career selling properties as a broker and within few years he had his own projects. He was Chairman of RnD Empire.

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The auditorium was air tight and when he stepped on the stage the sound of the claps was enough to describe his personality.

 

‘This is my first public interaction and I know many of you have come here to know what secrets I have been holding for over 3 decades for this successful run. I will come to the point straight away. I have just 5 rules which I have been practising all my life. It is nothing you are not aware off but practising them on daily basis is what makes all the difference.

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Persist till you succeed – You did not started work to fail, there is no such word as FAIL. It is only that you have not tasted success so far. Just remember ancient law of averages, you should persist with the knowledge that each failure to sell will increase your chance for success at the next attempt. Consider each obstacle as mere detour to your goal and challenge to your profession and there is no life without challenges.

Have a great network – you cannot work alone in this field. You need links and that too quality links to succeed. Add more people to your network daily, somewhere down the line, person added today will benefit you. Don’t except returns of your investment in people immediately. It is a long investment with sure short return. It will amaze you sometimes how networking alone can bring you great results.

Communicate and Listen – The real estate market is time sensitive, so you must be a person who will let customers know quickly where they stand with their current buying or selling situation so they can move on quickly to another property or potential buyer. Before you communicate make sure you have listened to everything your customer has to say. His requirement should be crystal clear in your mind.

Stop Procrastination – If you receive a lead today, try to convert it to sale today. There is no tomorrow. You never make a new customer tomorrow, it is only today. Only your action determines your value in the market place and your job is to multiply your value and the only way to do it is to multiply you action today, now, immediately.

Use the latest technology – The time has changed, you have to change with it. The traditional sales methods are always good and bring in result but you have to keep pace with the world and technology. Use everything which can bring you more leads – Whatsapp, Linkedin or Quora etc. Just make sure you are not missing on a potential lead because you are not up to date on some technology.

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At last I would only say, the only difference between good and the best sales agent would be THE HABIT. If you are able to make these points your habit, there is no stopping you.’

The crowd present there applauded for long, the leader hoped to inspire many to be the best salesman.

I hope you liked this article.

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This is the time – everything is right about investment in real estate!!

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” -Franklin D. Roosevelt

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If you are thinking about the real estate investment, this is the time for you. Everything is positive about the Real Estate. Those who have been holding on to their purchase decision, because of uncertainties that were prevailing, should now take the decision. There are various factors supporting this contention. First, the property market itself. Many good options are available at reasonable price. You just need to look around in the right direction.

Secondly, Reserve Bank of India is showing direct interest in Real Estate functioning. RBI has begun process of reducing the interest rate for Home loans. The era of soft interest rate has started and is willing to continue in future. We are moving in line with the west where the interest rates for Home loans are very nominal.

Now a regulatory environment is on the anvil with the passage of the new realty bill, the bill contains many provisions that will bring in more transparency in the realty sector. The other major factor going with the above is that Metrological Department has already predicted a good monsoon. Last couple of year monsoon has been below normal falling short by 14 and 12 percentages. This year expectation is above normal. Rainfall is important to cool off the commodity price and thereby the inflation rate.

Other advantages with investors are the number of unsold property in market. There are over more than 2,00,000 lakh unsold properties or houses in the top metropolitans such as Mumbai, Kolkata, Delhi-NCR, Surat etc. The prices are dropping slowly, but not that fast. With these numbers of unsold properties the developers are sweating. There is a great need to sell of those beautiful flats and houses they have a serious need to pay off their bank loans so you are at advantage in making some negotiations.

The Index of Industrial Production (IIP) growth in February was two percentages. Further, the International Monetary Fund, in its latest World Economic outlook has said that India will remain the fastest growing economy in the world with GDP growth of 7.5 percentages in 2016 and 2017.

Other important point is – there is another picture of India, It’s getting huge number of visitors/tourists comparing to its neighbors so investing in hotels, restaurants, short term rentals and property in tourist spots can be a viable option.

Having mentioned all the above points, it my responsibility to mention that we can’t generalize the idea that this is the best time to invest in India. There is still lot of factors one has to consider before investing in India. You have to research well with respect to details like location, affordability, development index of the area etc. It is better to invest in places which are developing rather than the ones which are already developed. I feel the product life cycle or PLC which talks about 4 stages namely growth, development, maturity and decline stages are applicable for real estate investments as well. Choose places which are in growth and development stages depending on when exactly you will be shifting to the location rather than the ones in maturity stage which are bound to decline in future.

Hope we have more investors coming to us after reading the above article. For more such real estate articles follow our blog.

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Real Estate prices will continue to surge – Truth or myth?

The real estate prices have almost doubled in the last decade. Now the question which almost everyone in the sector asking is – Will the price continue to increase? If you ask any layman or home-owner the obvious answer would be – Yes. But my question to everyone giving the answer is – who is going to buy such high priced properties when the incomes are not increasing in the same proportion? If you are assuming the prices are going to double again in the coming decade then you are fooling around with yourself.

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I certainly don’t see this happening and I think this is a voodoo believe. Prices just can’t increase at the same rate for long. You must be thinking – the population is increasing and the land continues to be same? So on what basis I can be so certain. Sometimes I believe you will find more people who will believe in notion that God does not exist than prices will come down ever in the future.

Let me talk on some facts now.

The current world population is around 7.1 billion. If we go by the estimates, the population is expected to be about 9 billion by 2050 which is roughly 25 percentage rise. So the demand of houses is going to rise by 25 percentage approximately. These are very vague stats with many flaws. Let me mention one of them – countries have different land proportion, more land is available in North America compared to India. So lets talk about India only. We are around 1.2 billion in number at present and expected to be around 1.7 billion by 2030. That’s another 500 million to go in 15 years. Put another way, even assuming land supply remains the same, the additional population demanding houses – assuming everyone is earning an income – will be up by only 50 percent.

But then you may ask – The fight is just for the urban land. But I guess you are wrong in thinking this. As mentioned in my last article, the fight is not for the urban land but the facilities and the infrastructure which only is available in cities.

Not let move to different side of argument – Demand and supply. People who believe in theory that land prices will continue to rise has only one point to say – Demand will always going to increase and we are not making any more land. For all those here is my best read :

Ajay Shah of the National Institute of Public Finance and Policy wrote last year in The Economic Times, there is no real shortage of land in India. “If you place 1.2 billion people in four-person homes of 1,000 square feet each, and two workers of the family into office/factory space of 400 square feet, this requires roughly 1 percent of India’s land area assuming an FSI (floor space index) of 1. There is absolutely no shortage of land to house the great Indian population.”

If your city allows an FSI (floor space index) of 1:1 – that is you can build an area equal to the size of land you hold – land will be scarce. If the FSI is doubled, land supply will double – since you can build higher. In places like New York and Singapore, FSIs range upwards of 10. In India, we can double or triple land even in urban areas simply by tinkering with FSI and redeveloping old property even in city centers.

I hope this read gives you some idea if the notion is truth or a myth. Moving forward I will surely going to write some great things that have happened or will happen in this sector for all of us. Stay connected.

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