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Make Money in Real Estate

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How to make more money in real estate broking when the market is undergoing a fundamental shift from unprofessional broking to a high quality professional service.

How to make more money in real estate broking when the market is undergoing a fundamental shift from unprofessional broking to a high quality professional service.

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  • 1. Make More Money in RealEstate BrokingManan Choksi
  • 2. Present Market statistics: Number of brokers in Ahmedabad: Approx. 10,000 active. Number of deals : 10,000-12,000 registrations a month Estimate of primary deals being done by brokers: 50%- 60% (increasing as number deals reduce) 20% of the new projects of India are in Gujarat Investors from all India have invested in Gujarat
  • 3. Next 10 years? Outdoor Media will continue to loose its effectiveness Resale properties will have a great share of transaction in the market Buyers will have a higher Dependence on agents as plethora of options emerge Technology will play a pivotal role in broking Organized broking is the future
  • 4. Next 10 years? Foreign investors investing in India and Indians investing outside the country will increase Proportion of White money in real estate transactions will increase Real Estate broking will followthe foot steps of organizedstock broking
  • 5. Fundamental questions first:
  • 6. What is broking? Broker is a party that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed.
  • 7. What does a buyer want? Inventory Agent time Guidance Saving of his time Quick Closure
  • 8. What does a seller want? More genuine buyers Get best price for his property Liquidate at the earliest Agent’s time Guidance of valuation Relevant buyers consider his property
  • 9. Why a broker cannot satisfy? Getting and retaining best employees Training Advertisement Budget No Surety of Income Limited budget for Running costs Network
  • 10. Why employees don’t stay? Employer gets the lion’s share of income Boss gives little value addition to each deal once the employee becomes experienced Lack of independence Lack of Personal Identity Limited office growth
  • 11. How to increase deals? Give more options to buyers Employ more agents to serve the customer better Use technology to increase the viewers of the property
  • 12. Get access to HNI/NRI clients? Get high quality agents who are experienced qualified and who give better service Get properties which they would prefer:  100% white for NRI  Give a good ROI for HNI Train employees regularly to improve your quality of service Use technology extensively
  • 13. Attract and retain employees? Number of transactions is the key to improving income and motivation of employee Create a brand value of your office Fire low performing employees: key to retain top performing people Continuously recruit
  • 14. Network? Join a network to share inventory and leads Networks help wide geographical presence Can access various segments of buyers and sellers A network gains more trust than an individual broker
  • 15. Technology: How important? Do you use Mobile? Why?
  • 16. 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.
  • 17. 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
  • 18. Technology: How important? Brokers need to:  make quality leaflets to give as handouts to customers  Promptly respond over email If they work in network: Technology is critical for sharing information Smartphone challenge: using apps to search properties
  • 19. Informal sector: thrive orsurvive? Small Stock brokers: on brink of extinction Starts with reluctance to change Later results in reduction in market share In 5 years substantial shift will be seen from the unorganized broking sector to organized broking Then it is too late to change
  • 20. Verious Real estate companyenter in to indian Real estatebroking Business
  • 21.  "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change." — Charles Darwin
  • 22. Which Office isMore Profitable? Manan Choksi
  • 23. Which office is more profitable?More number of property options for customers OR Less number of property options for customers
  • 24. Which office is more profitable? More number of agents OR Less number of agents
  • 25. Which office is more profitable?Top performing agents OR Average agents
  • 26. Which office is more profitable? More trained agents OR Untrained assistants / employees
  • 27. Which office is more profitable? Motivated agents to run after business OR Employees who wait forbusiness to run after them
  • 28. Which office is more profitable?Latest technology to market their properties ORDoesn’t use technology to market their properties
  • 29. Which office is more profitable? A large international network OR A stand alone operation
  • 30. Which office is more profitable? A world renowned brand name ORTries to make its own brand name
  • 31. Which office is more profitable? Agents earn according to their commission earned ORemployees earn fixed salaryirrespective of commission earned
  • 32. Which office survives longer? The fixed salary cost is lower ORThe fixed running cost is higher
  • 33. Which office is more profitable?Is in Business since long OR Just opened
  • 34. Which office is more profitable? Running based on a proven concept globally ORA office started without any proven concept
  • 35. Which office is more profitable?A system driven model ORA person driven model
  • 36. MAKING MORE MONEY IN BROKING THROUGH THE RE/MAX ADVANTAGERE/MAX India
  • 37. Established in Denver, Colorado (USA) in 1973 by – Dave Liniger The only real estate broking company still owned and operated by the original promoterRE/MAX India
  • 38. - Real Estate MaximumsRE/MAX India
  • 39. RE/MAX did house sales of more than $500 bn. If RE/MAX was a company, we would be bigger than WALMARTRE/MAX India
  • 40. GLOBAL RECOGNITIONRE/MAX India
  • 41. BRAND NAME RECOGNITION RE/MAX is #1 The most recognized logo in real estate 43RE/MAX India
  • 42. THE ICON IN THE INDUSTRY 44RE/MAX India
  • 43. TRUST & ASSURANCERE/MAX India
  • 44. A business model working successfully in more than 7000 offices and created millions of entrepreneurs worldwideRE/MAX India
  • 45. Only real estate company to feature in the book “50 Companies That Changed the World” by Howard RothmanRE/MAX India
  • 46. World’s largest Real Estate brokerage franchising network…!RE/MAX India
  • 47. ABILITY TO DO BUSINESS IN MORE THAN 88 COUNTRIESRE/MAX India
  • 48. RE/MAX India
  • 49. Network... 88 Countries 7000+ Offices 100,000+ Agents 20,00,000+ TransactionsRE/MAX India
  • 50. RE/MAXRE/MAX India
  • 51. Network… 23 Regions 135+ Offices 500+ Agents 5 Transactions/dayRE/MAX India
  • 52. EDUCATION & TRAININGRE/MAX India
  • 53. More than 25,000 hours of training in India doneRE/MAX India
  • 54. CONFERENCES & CONVENTIONSRE/MAX India
  • 55. TECHNOLOGYRE/MAX India
  • 56. WWW.REMAX.COM 1 Million Unique Visitors per month World’s largest visited real estate websiteRE/MAX India
  • 57. REFFERALS  Agent to Agent Referrals  Negotiate your own referral rate  Send and receive referrals of buyers and sellersRE/MAX India
  • 58. TOOLS TO GROW YOUR BUSINESSRE/MAX India
  • 59. ACHIEVEMENTS RE/MAX Bangalore Franchise does landmark transactionRE/MAX India
  • 60. ACHIEVEMENTS  Lodha World OneRE/MAX India
  • 61. ACHIEVEMENTS  Godrej townshipRE/MAX India
  • 62. To Know More and Be a Part of a Revolution Book Your AppointmentRE/MAX India

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