Build Real Estate Broking Business with Networks
Upcoming SlideShare
Loading in...5
×
 

Build Real Estate Broking Business with Networks

on

  • 623 views

 

Statistics

Views

Total Views
623
Views on SlideShare
623
Embed Views
0

Actions

Likes
0
Downloads
25
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Build Real Estate Broking Business with Networks Build Real Estate Broking Business with Networks Presentation Transcript

  • BUILD REAL ESTATE BROKING BUSINESS WITH NETWORKS!
  • RE/MAX Mumbai Gujarat Maharashtra Agenda: • Introduction to Networks • Networks in Real Estate Broking • How to increase deals? • Difference between Associations and Networks • Technology • What are the new trends in this business? • How will real estate broking look in next 10 years? • The RE/MAX Network
  • RE/MAX Mumbai Gujarat Maharashtra Need of Networks • What is the use of the following : • One telephone • One consumer of electricity • One Fax machine • One Computer without Internet • One Email Address • One user on Facebook • One Airport • One Railway station • Impossible for certain things to sustain without networks
  • RE/MAX Mumbai Gujarat Maharashtra Need of Networks • Limited networks: • EPABX : Intercom • Lan : Local area network • Cable TV vendor‟s own channel • Metro train • Full potential of the network components is not realized unless there is a connection to world wide network.
  • RE/MAX Mumbai Gujarat Maharashtra
  • RE/MAX Mumbai Gujarat Maharashtra What is a business network? • Business networking is a socioeconomic activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities • Examples of successful business network:
  • RE/MAX Mumbai Gujarat Maharashtra Strengths of a network: • Spread of the network: • A wide spread network is stronger : SBI • Takes competition years to build a network as strong • Pepsi v/s Coke • Unparalleled distribution / service • Maruti Suzuki and Tata Motors • Economies of scale • Buying power increases • Reuse of Intellectual Property • Common expenses : • Branding • Training
  • RE/MAX Mumbai Gujarat Maharashtra Behavior of Networks • Takes time to develop • Grows in geometric progression: • Formula: x=y(y-1)/2 • With addition of each node in the network the number of connections increase exponentially • An interlocking network increases the stability of network
  • RE/MAX Mumbai Gujarat Maharashtra Examples of service business networks: • Banks • Stock broking • Travel Agencies • Food and Beverage • Big Four Audit Firms • Pre Schools • Cinema Halls • Hospitals • Real Estate broking
  • RE/MAX Mumbai Gujarat Maharashtra Kinds of Network: • Company owned Company operated (COCO) • SBI • Franchise owned Franchise operated (FOFO) • Restaurants, Stock brokers • Exclusive Dealer network • Automobile companies • Retailer Network • HUL
  • LIVE DEMONSTRATION
  • RE/MAX Mumbai Gujarat Maharashtra Networks in Real Estate broking: Each property is UNIQUE
  • RE/MAX Mumbai Gujarat Maharashtra Networks in Real Estate broking: • Real estate broking is all about addressing unique customers requirements and presenting them with maximum options. • Examples of customer requirements: • I want a North facing flat with a nice view, not far from my office and my children‟s school, in my budget, new construction. • Want a plot in particular scheme and total of the plot number should be 7. • A bungalow required in a particular area with a certain plot size in a decided budget
  • RE/MAX Mumbai Gujarat Maharashtra Networks in Real Estate broking: • It is practically impossible to address to diverse customer requirements in an efficient manner • A customer‟s requirement changes from time to time: • Initially he starts as a tenant • Then owns a property • Moves to a bigger property • Invests in rental property • Invests in a plotting scheme • May do commercial transactions also • For a broker who wants to build and nurture a life long relationship it is difficult or rather impossible to satisfy
  • RE/MAX Mumbai Gujarat Maharashtra Networks in Real Estate broking: • Requirement of the hour is specialization and not generalization • However if you specialize you need to get customers in your segment on a regular basis • You cannot build customer relationships as in real estate needs of the customers keep on changing
  • RE/MAX Mumbai Gujarat Maharashtra How to increase deals? • Give more options to buyers • Employ more agents to serve the customer better • Be part of a network which helps you match buyer and seller requirements
  • RE/MAX Mumbai Gujarat Maharashtra Networking Goals in Events • Passing out business cards • Delivering 15 sec elevator pitch (speech) • Moving on to the next and next and continuously meeting more people • Goal is to ensure people remember you for the specific stuff that you do in your business • “Positive networking is a networking situation in which you expect nothing in return”
  • Difference between associations and networks Associations • Localized • Aim is to protect the interests of member • Usually there no customer oriented differentiation • Mostly not for profit Networks • Widespread • Aim is to do business together • There is a strong value addition to customer • Mostly entrepreneurship driven
  • TECHNOLOGY: HOW IMPORTANT? Example of A listing Property with an excellent view over looking a river, sea and a hill. Very upmarket locality. 3 bed room, fully furnished, good wood work. Parking for 2 cars.
  • RE/MAX Mumbai Gujarat Maharashtra Technology: How important? • Buyers require more information e.g.: floor plan, elevation photos, views, amenities etc. • Cost of petrol increases so buyers prefer to see properties over internet and short list rather than visit each and every option • Buyers don‟t have time • Buyers can be outside city or even country. • Buyers want to share information with others
  • RE/MAX Mumbai Gujarat Maharashtra Technology: How important? • As you market your listing across the network technology makes it easier to distribute the information across • Technology is intellectual property cost of which shared in the network • Social Media: A big source to enrich contacts • Offline communications : Key to manage contact in different time zone.
  • RE/MAX Mumbai Gujarat Maharashtra • Send a letter of the business that you do • Inform them about the training that you do • Inform them about the listing that you gather • Inform them about transactions that you do • Ensure they start trusting you as a real estate consultant
  • RE/MAX Mumbai Gujarat Maharashtra Networking Opportunities • Local groups like Estate Agents Association of Pune (EAAP) • NAR – India is organization of organization and provides national level networking opportunities with members of other associations • Referral based organization like BNI • Social work like Lions, Rotary, Education work etc • Remove your mindset to „Sell,Sell,Sell‟ yourself. Remember „Giver‟s gain‟ philosophy • Networking Push/nudge needed for all. Everyone is alone in a new place. All you need to say is a „Hello/Hi‟ • Be ready for Question and Answers on expected situations
  • RE/MAX Mumbai Gujarat Maharashtra What are the new trends in this business? • Role of Media • Resale properties • Dependence on agents as plethora of options emerge • Technology • Foreign investments : both ways • White money
  • RE/MAX Mumbai Gujarat Maharashtra How will real estate broking look in next 10 years? • Earlier stock broking was dominated by Mumbai based firms • Then regional stock exchanges came into existence • NSE Came in to operation : • Technology • Risk Management • Franchising • Research • Customer retention becomes the only important factor in determining your success. • MLS • Exclusive Mandates
  • RE/MAX Mumbai Gujarat Maharashtra Verious Real estate company enter in to indian Real estate broking Business
  • Giving your business the RE/MAX leverage
  • RE/MAX Mumbai Gujarat Maharashtra Established in Denver, Colorado (USA) in 1973 by – Dave Liniger The only international real estate broking company still owned and operated by the original promoter
  • RE/MAX Mumbai Gujarat Maharashtra - Real Estate Maximums
  • RE/MAX Mumbai Gujarat Maharashtra RE/MAX did house sales of more than $400 bn. If RE/MAX was a company, we would be bigger than WALMART
  • GLOBAL RECOGNITION
  • RE/MAX Mumbai Gujarat Maharashtra Brand Name Recognition RE/MAX is #1 The most recognized logo in real estate 32
  • RE/MAX Mumbai Gujarat Maharashtra The ICON in the INDUSTRY 33
  • RE/MAX Mumbai Gujarat Maharashtra Business Model: A business model working successfully in more than 7000 offices and created millions of entrepreneurs worldwide
  • RE/MAX Mumbai Gujarat Maharashtra Only real estate company to feature in the book “50 Companies That Changed the World” by Howard Rothman
  • RE/MAX Mumbai Gujarat Maharashtra World’s largest Real Estate brokerage franchising network…!
  • Ability to do business in more than 88 countries
  • OPERATING IN 105 REGIONS IN 88 COUNTRIES
  • RE/MAX Mumbai Gujarat Maharashtra Network... 88 Countries 7000+ Offices 100,000+ Agents 12,00,000+ Transactions
  • RE/MAX Mumbai Gujarat Maharashtra Power of the network • 1st office : zero transaction in 6 months. 8th office reported 1st transaction in 3 weeks of signing which was within the RE/MAX network. • Builders work in slabs for brokerage • Cooperative office concept: • Offices work together on exclusive tie-up • Joint recruitment efforts • Joint training efforts • Branding activities
  • RE/MAX Mumbai Gujarat Maharashtra Network… 23 Regions 100+ Offices 500+ Agents 8 Transactions/day
  • Education & Training
  • RE/MAX Mumbai Gujarat Maharashtra More than 25,000 hours of training in India done
  • RE/MAX Mumbai Gujarat Maharashtra Conferences & Conventions
  • Technology
  • RE/MAX Mumbai Gujarat Maharashtra www.remax.com 1 Million Unique Visitors per month World‟s largest visited real estate website
  • RE/MAX Mumbai Gujarat Maharashtra Tools To Grow Your Business
  • RE/MAX Mumbai Gujarat Maharashtra Achievements RE/MAX Bangalore Franchise does landmark transaction
  • RE/MAX Mumbai Gujarat Maharashtra Achievements • Lodha World One
  • RE/MAX Mumbai Gujarat Maharashtra Achievements • Godrej township
  • RE/MAX Mumbai Gujarat Maharashtra Thank You