Iranian Strikes on Israel Assessing the Impact and Implications.pptx
Final report future infra real estate
1. ACKNOWLEDGEMENT
It was a great opportunity for me to work with Future Infra Pvt Ltd, one of the leading
companies in Real Estate business in Nagpur. I am extremely grateful to those who have shared
their expertise and knowledge with me and without whom the completion of this project would
have been virtually impossible Firstly, I express my sincere gratitude and thank to Mr.
K.Itenkar (Marketing Director), Future Infra Pvt Ltd, Nagpur for whose kindness I have the
precious opportunity of attaining training at Future Infra Pvt Ltd. Under his brilliant untiring
guidance I could complete the project being undertaken on the "The Study of Sales Strategy of
Real Estate Companies in Nagpur City" successfully on time. I would also like to thank the
overwhelming support of all those people that helped me a lot with their suggestions and ideas in
the making of this project report.
I would also like to thank my faculties of “Sinhgad Institute of Management” Specially and Prof
Nilesh Gokhale (Director SIOM), my Project Co-coordinator Prof A. Ramkumar, Class
Coordinator Prof Raju Giri for their constant enthusiastic encouragement and valuable
suggestions, without this project would not have been successfully completed.
I would also like to thank my parents and rest of my family members for being patient and very
supportive always especially during the project study.
Nitesh Shende
Date
Place
1
2. Index
2
Sr No Content Page No
1 Executive Summary
5
2 Business Environment 7
3 Organization Profile 14
4
Outline of The Problem/Task
Undertaken
26
5 Research Methodology 28
6 Data Analysis 34
7
Learning of The Student
Through The Project
50
8
Contribution To The Host
Organization
53
9 References 57
10 Annexure 59
3. Tables
Sr No Table Name Page No
1 Profession of Prospect 35
2
Level of Customer Satisfaction
37
3 Sources of Information For Prospect 39
4 Location Preference of Prospect 40
5 Customer 1st
Priority For Property Document 41
6
Customer Opinion Toward Real Estate Developers Following
Possession Deadlines
43
7
Customer Opinion Towards Govt To Take Steps To Provide House
For Common Man
44
8 Proffered Ways of Dealers For Approaching The Prospect 47
9 Customer Buying Stages From Dealers Point of View 49
10 Sales Stages From Dealers Point of View 50
3
4. PREFACE
Business environment are becoming more and more complex with passage of time. To
understand and deal with such riddle phenomena one needs a lot of energy and knowledge, so
business education has become an evolving science which helps to solve the business problems.
Academics education provides a general knowledge about business decisions and policies.
This internship is an integral part of MBA program provides an opportunity of peeping into real
professional life of the sales prospects. It helps us to evaluate and understand the particle terms
and techniques of that we have studied during the course work.
I was assigned the internship practically consisting of 8 weeks at Future Infra Pvt Ltd Nagpur
In this internship report I have tried my level best of explain each and every aspect of sales
professional working in real estate companies.
4
6. Executive Summary:
The project “Study of sales strategy of real estate companies in Nagpur” is based on the current
industry trends of real estate sector. The major objectives of the project was to “Study The Sales
Process And Customer Behavior Towards Real Estate Investment” for Future Infra Pvt Ltd in
that I have to understand the working of real estate firms, sales process, customer perception,
customer needs and expectation from real estate companies in Nagpur.
The company was yet to meet the marketing to a large number of prospects it was essential to
know the prospects perception exception from the real estate companies in order to formulate
effective sales strategies in future and improve the quality of services to achieve better customer
satisfaction.
The objective of the survey was to do overall study to know customer behavior and sales process
of real estate co. for that I have to understand the customer perception, expectations and did
working analysis of sales process.
The respondents I visited made company possible to measure the satisfaction/ perception of
customer by identify attributes, which gave customer varying degrees of perception. The survey
involved gathering wide info about the company it’s service and customer satisfaction from the
info collected various aspect were identified where the company needs to focus more to improve
the efficiency of sales team of Future Infra Pvt Ltd Company.
The research was conducted through secondary data collected by visiting various sites related to
online property listing and primary data collected through well farmed questionnaire, of which
are detailed analysis was done using various statically analysis tools like SPSS, and MS- excel.
The study was undertaken in Nagpur city during two month. The questionnaire contains various
aspects like their profession, age, contact details and other information. From the secondary data
analysis and extensive analysis of primary data, interpretation is drawn for the questionnaire and
finally concluded. Certain recommendations are also made to customer and the company from
the analysis to help the company achieve their sales target from my project.
I came out with the conclusion that prospects are willing to invest in real estate and they expect
transparency, reliability and better service from the real estate dealers. This certain facts I
observed during the completion of my entire assignment and research that the company should
implement to improve sales strategies in future.
6
8. Global Trends in Real Estate Sector
As per a report published by Scotia bank dated Aug 14, 2014:
Among the international property markets tracked, the number of countries reporting
declining average real prices on a year-over-year basis outnumbered those reporting price
increases by more than two to one.
Weak consumer confidence, high unemployment and tight credit conditions continue to
weigh heavily on housing demand and pricing.
Housing markets remain weakest in Europe, where sharp fiscal austerity, rising
unemployment and financial sector strains are deepening recessionary conditions
In European countries that are financially sound, there were some tentative signs of
improvement.
The U.S. housing market is showing increasing signs of recovery.
U.S. homeowner affordability, rising rental costs and strengthening household formation
are contributing to the pickup in sales. Lower inventory levels and a falling share of
distressed property sales also have contributed to the stabilization in prices, though
significant differences in local market conditions persist.
An increasing number of cities in China are seeing renewed home price appreciation.
This is being supported by an easing in monetary conditions.
8
9. Introduction to Indian Real Estate Industry
The Indian real estate sector has come a long way and is today one of the fastest growing
markets in the world. It comprises four sub-sectors – housing, retail, hospitality, and commercial.
While housing contributes to five–six percent of India’s gross domestic product (GDP), the
remaining three sub-sectors are also increasing at a fast pace. The total realty market in the
country is expected to touch US$ 180 billion by 2020.
It is currently the fourth largest sector in the country in terms of FDI inflows. Total investment
by private equity (PE) funds in the real estate sector from January–March 2014 was
approximately rs 28 billion (US$ 465.19 million). This is a substantial increase of 28 per cent
compared to the previous quarter and close to 2.5 times the investments during January–March
2013. It contributes about 5 per cent to India’s GDP.
Budget 2014-15 Impact
The real estate sector is the biggest beneficiary of the budget. The budget announced multiple
measures like
Development of 100 smart cities.
Foreign direct investment in realty – especially in low-cost housing.
Tax concessions for Real Estate Investment Trusts (REITs).
Increase in allocation for the National Housing Bank, and allowing slum development as
one of the activities under Corporate Social Responsibility.
These will directly affect the real estate and construction sector positively.
RESULTS
Higher tax-exemption on home loan interest could also help increase demand for houses. These
are much-required measures to the sector, which has been affected by poor demand and high
costs
9
10. Industry Analysis
Qualitative
The various factors which influenced the Real Estate segment were Political, Technological,
Social and Economic factors.
Political Factors: Government’s regulations and policies in
favour of real estate sector.
Heaviest tax imposed on the construction
industry.
FDI experience in Indian real
estate market.
Economic Factors: Controlled Inflation levels.
Low Interest Rates.
Provides further Liquidity
Social Factors: Increase in consumption.
Urbanization.
Increase in per capita income (current
prices).
Rise in demand for quality housing
projects.
Technological Factors: Internet revolution
Media
SWOT Analysis:
10
11. Strength
Employment and training opportunities in the field of construction.
Private sector housing boom and commercial building demands.
Construction of the multi building projects on the feasible locations in the country.
Good structured national network facilitates the boom of construction industry.
Low cost well- educated and skilled labour force is now widely available across the
country.
Sufficient availability of raw material and natural resources in the country is supportive
for the industry.
Real estate development is on high and it is attracting the focus of the industry towards
construction.
Weakness
Chances of Natural disaster are there.
Deadlines in construction projects reduce business efficiency.
Training itself has become a challenge.
Changing skills requirements and an ageing workforce may accentuate the skills gap.
Improve in long-term career prospects is highly required to encourage staff retention and
entrants.
External allocation of large contracts becomes difficult.
Lack of clearly define processes and procedures for construction and its management.
Huge amount of money need to be invested in this industry and inefficiency may lead to
high level of risk.
11
12. Opportunity
Continuous private sector housing boom will create more construction opportunities.
Public sector projects through Public Private Partnerships will bring further opportunities.
Developing supply chain through involvement in large projects is likely to enhance the
chances in construction.
Renewable energy projects will offer opportunities to develop skills and capacity in new
markets.
More flexible training delivery techniques are now available.
Financial supports like loan and insurance and growth in income of prospects is in
support of construction industry.
Historical cultural heritages like the “TAZ MAHAL” encourage and provide a creative
platform for the industry.
Remote areas in the country are easily accessible and plenty of land is available in the
country.
Threat
Long term market instability and uncertainty may damage the opportunities and prevent
the expansion of training and development facilities.
Current economic situation may have an adverse impact on construction industry.
Political and security conditions in the region and Late legislative enforcement measures
are always threats to any industry in India.
Infrastructure safety is a challenging task in construction industry.
Competitors Analysis: Competitors
Competitors
Sahara City.
12
13. Pyramid City.
Prozone Palms.
Venkatesh City.
Vastu Vihar.
Mars land Developers.
And few Other.
Competitors’ Strength: Few competitors Sahara city and Pyramid city are into the real estate
business for long time hence they have become the known brands to the prospects.
Few competitors like Pyramid city, Prozone palms, Sahara City and Pyramid City have their site
location closer to the main highway.
Few competitors like mars land developers and others are offering land for slightly low price in
the same geographical area.
Competitors’ Weakness: The project area for Prozone palms, Sahara city and Pyramid city
project is almost half that of Sandesh City township project and the rates are higher with same
amenities.
Land offered is not clear title and doesn’t come with full development and approval hence
slightly cheaper
Construction quality of Prozone Palms and Vastu Vihar projects is not up to the mark.
13
15. PROFILE OF THE ORGANIZATION
Future Infra Pvt. Ltd is one of the leading real estate marketing companies in Nagpur engaged in
offering the clients with effectual residential and commercial real estate services. These
commercial and residential properties are planned and laid out by some of the well-known
builders and real estate tycoons. It is one of the principal marketing companies engaged in
offering best real estate deals to the prospects. The selling is done of the properties that are
planned by some of the reputed organizations and are marketed under well-known brand names.
The main focus remains to give tailor made packages which suits the requirements of our clients
as per his requirements and budgetary constraints. At the same time we ensure that there is a
definite level of assurance and back up available.
Future Infra Pvt. Ltd is a progressive, future-focused, Indian real estate company that is at the
cutting edge of its industry. Its high levels of integrity and dedication have made the company
one of the most respected real estate developers. It is a pioneer in conceiving and executing large
sophisticated real estate projects from concept to completion.
Future Infra Pvt. Ltd is into prime real estate development and property management
coordinating a full spectrum of services including site acquisition, design and development,
construction, marketing and sales.
Future Infra Pvt. Ltd. today, is the name that is associated with quality and reliability and deals in
commercial and residential projects.
Future Infra Pvt. Ltd is involved in number of prestigious projects in Nagpur and is committed to
deliver the projects in time following international construction standards
15
16. Structure of the Organization
During my internship I was working with the marketing department of the organization under the
senior sales manager.
16
17. Current Projects Undertaken By the Company
Currently there are 4 new projects undertaken by the company. These are as follows
Vella hari
Wathoda
Silverpoint
Sandesh city township project
The details of the projects are shown below
Vela hari layout project
17
27. Title: To Study the Sales Strategy of Real Estate Companies In Nagpur City.
Objectives of the project:
To know what prospects think about making investment in real estate sector in Nagpur
city.
To know prospects behavior towards real estate dealers and brokers while purchasing real
estate property.
To know the functioning of sales department of real estate companies in Nagpur, ways of
dealing with the prospects and achieving sales target in Real Estate Company.
Following were the Tasks undertaken
I attended the training provided to me by the organization for initial few days so that I
could work on the task given to me by the company.
I studied the working of the employees’ i.e. sales executives and sales manager in the
organization
I helped the sales executives while dealing with the prospects during site visit in their
work.
I created the individual property listing of the company projects on online real estate web
portal.
I collected the customer data using the different data mining software from the business
listing websites.
I made cold calls to reach out the prospects.
I made use of bulk messaging software to reach out prospects
I made use of bulk mailing to reach the prospects
I assisted the prospects in knowing the property details, features and directions on the
site.
27
29. RESEARCH METHODOLOGY
What is research?
Research can be defined as a scientific and systematic search for pertaining information on a
specific topic. We define research as the systematic design, collection, analysis and reporting of
data and findings relevant to a specific situation facing the company. The main aim of research is
to find out the truth which has not been discovering yet.
Objectives of Research
The project has mainly four objectives-
To know the customer’s perception about real estate investment in Nagpur city.
To know the customer’s expectations from the real estate dealers.
To know the problems faced by the prospects while buying a property.
To study the sales process of real estate companies in Nagpur.
Scope of the Study:
The project undertaken makes me able to improve my professional skill and expertise. It helps in
getting an idea of Real Estate industry and its importance in life. It increases my confidence on
professional ground by dealing with high profile corporate that are very hard to convince. As for as
company’s benefit is concerned, this project helps company to know its market condition and level
of competition. Also it helps in creating awareness to consumers regarding property documents and
in promotion of their services.
In order to accomplish the objectives of the project a survey has been conducted Amongst Prospects
of the real estate market. The survey is based on questionnaire filling method and limited to some
parts of Nagpur and New Nagpur region. The survey is restricted to the information needed to show
legal, technical and financial transparency between project developer and customer.
29
30. Type of Research:
In this project I considered Descriptive Research.
Descriptive research includes surveys and fact finding enquiries of different kinds. The major
purpose of description of the state of affairs as it exists at present. Descriptive research methods
are used when the researcher wants to describe specific behavior as it occurs in the environment.
There are a variety of descriptive research methods available, the nature of the question that
needs to be answered drives which method is used. Traditionally, descriptive research involves
three main categories: observation, case studies, and surveys.
I have used the descriptive research as I want to describe the behavior of the customer toward the
real estate investment and for doing that I have used the survey technique to collect the responses
through questionnaire.
Research Design:
A research design is the arrangement of conditions for collection and analysis of data in a manner
that aims to combine relevance’s to the research purpose with economy in procedure. The design
includes an outline of what the research will do from writing the hypothesis and its operational
implications to the final analysis of data. It helps to tackle the problem of bringing various phases
of research under control. The research design helps to design the decision with respect to:
What type of data is needed?
Where the data could be found?
What period of time study includes?
How much material will be needed?
What technique of gathering data will be adopted?
How will data be analyzed?
30
31. Data Collection Methods:
Primary data are collected through questionnaire method which is design to keep in view
the objective of the study.
Secondary data is collected through internet sources, newspapers, magazines and
published reports by various institutions.
Sample Design:
Study of the geographical area comprising of Nagpur and New Nagpur were undertaken. It has
tried to cover corporate offices of different industries in these regions. Generally I met with the
employees from the Government sector, private sector and entrepreneurs. The sample size
consists of 300 prospects.
Sampling Technique:
Population sampling is the process of taking a subset of subjects that is representative of the
entire population. The sample must have sufficient size to warrant statistical analysis. Sampling
is done usually because it is impossible to test every single individual in the population. It is also
done to save time, money and effort while conducting the research.
Types of Sampling
Non-Probability Sampling
In this type of population sampling, members of the population do not have equal chance of
being selected. Due to this, it is not safe to assume that the sample fully represents the target
31
32. population. It is also possible that the researcher deliberately chose the individuals that will
participate in the study.
Non-probability population sampling method is useful for pilot studies, case studies, qualitative
research, and for hypothesis development. This sampling method is usually employed in studies
that are not interested in the parameters of the entire population. Some researchers prefer this
sampling technique because it is cheap, quick and easy.
Probability Sampling
In probability sampling, every individual in the population have equal chance of being selected
as a subject for the research.
This method guarantees that the selection process is completely randomized and without bias.
The most basic example of probability sampling is listing all the names of the individuals in the
population in separate pieces of paper, and then drawing a number of papers one by one from the
complete collection of names.
The advantage of using probability sampling is the accuracy of the statistical methods after the
experiment. It can also be used to estimate the population parameters since it is representative of
the entire population. It is also a reliable method to eliminate sampling bias.
32
Non-Probability Sampling
Convenience Sampling
Consecutive Sampling
Quota Sampling
Judgmental Sampling
Snowball Sampling
Probability Sampling
Simple Random Sampling
Systematic Sampling
Stratified Sampling
Cluster Sampling
Disproportional Sampling
33. My research was bounded by time, money and workforce and because of these limitations, it was
almost impossible for me to randomly sample the entire population and it became necessary to
employ Non-Probability Sampling technique. In non-probability I used
Convenience Sampling as it is the most common of all sampling techniques. With convenience
sampling, the samples are selected because they were easily accessible to me. Subjects are
chosen simply because they are easy to recruit. This technique is cheapest and least time
consuming.
.
Data Processing:
Daily data was entered into MS-Excel sheets. After the exhaustion of the specified geographical
area this data was analyzed using SPSS (graphical and tabulation techniques).
33
34. Chapter 6
Data Analysis and Interpretation
(Relevant Charts, Tables,
Graphs, Diagrams etc)
34
35. Frequency Percent
Valid
Percent
Cumulative Percent
Valid private
business
govt.
owner
Both(Pvt+B
S)
Total
Total
258
9
31
1
1
300
300
86.0
3.0
10.3
.3
.3
100.0
100.0
86.0
3.0
10.3
.3
.3
100.0
86.3
89.3
99.7
.3
100.0
Table 1: Profession of prospects
1. Professional background of the prospect
Profession type
Pie chart showing the Profession of prospects I met during survey
35
36. During the survey I visited government and private offices to meet with prospects who can give
me proper response of my questionnaire, I met with total 300 prospects out Of which 10.3% (31)
prospects are doing government services, 86 % (258) prospects are doing private services and 3
% (9) prospects are doing business.
My target was to meet service class prospects because they are educated and they were having
capability of buying house or any experience of buying house or any property.
2. Age of prospects
I met with prospects having different age but generally I choose to meet prospects having age
more than 30 years .Because they have bought house or they are in process of buying any house.
The prospects I have met most prospects belong to age group of 30 to 40 years and contributing
71% and prospects belonging to age group 25 to 30 years having (least) 5.7% prospects are in
age group 41-50 years and more than 40 years are having 22%.
3. Level of prospects satisfaction from marketing information.
36
37. Frequency Percent
Valid
Percent
Cumulative
Percent
Valid Highly satisfied
Satisfied
Neutral
Dissatisfied
Highly dissatisfied
No Response
Total
Total
3
93
64
126
13
1
300
300
1.0
31.0
21.3
42.0
4.3
.3
100.0
100.0
1.0
31.0
21.3
42.0
4.3
.3
100.0
1.3
32.3
53.7
95.7
100.0
.3
Table 2: Satisfaction level of prospects from marketing information provided by real estate companies
Pie chart showing the level of prospects satisfaction
With the help of above pie chat and table it is clear that majority (42%) of prospects are
dissatisfied and very less proportions (1%) of prospects are highly-satisfied with the marketing
information provided by the real estate companies. Many prospects who are satisfied with the
marketing information provided by developer, they were saying that real estate companies do not
37
38. want to share each marketing detail but also some real estate companies does not want to hide
any marketing detail if prospects asking about them. 21.3% prospects are neutral, 31 %
prospects are satisfied and 4.3 % prospects are strongly dissatisfied from the marketing details
provided by the real estate companies.
The reason of this strange result in simple languages is as follows-
Builders do not give complete marketing information in their broacher.
Marketing information provided by real estate developers is condition based.
In the marketing information broacher, developers do not share the negative side of
project.
The paper work is a bit different from that of the actual work.
We can make most of the prospects satisfied by –
Creating awareness about all the marketing details.
By asking the developers to provide each (negative and positive) marketing detail without
any terms and conditions in their broacher.
By making the prospects aware of all the legal and technical documents which are needed
while going to buy a house.
4. Source of information customer prefer while buying/ searching property?
Column chart showing sources of information for prospect
38
39. Area of preference Frequency Percent
Valid
Percent
Cumulative
Percent
Valid New Nagpur
Nagpur
Pune
Mumbai
Others
Delhi
Noida
Total
Total
139
81
49
20
9
1
1
300
300
46.3
27.0
16.3
6.7
3.0
.3
.3
100.0
100.0
46.3
27.0
16.3
6.7
3.0
.3
.3
100.0
46.3
73.3
89.7
96.3
99.3
99.7
100.0
The above Table and chart shows that most of the prospects prefer print media and personal
reference for searching house or property. And other sources like internet, broker, TV & radio,
outdoor advertisement are referred by few prospects.
Many prospects say that search of property through internet is very comfortable because in a
single click they can reach to a number of builders and their projects. They were saying that
mostly internet property web portal shows only marketing detail of projects but if they will show
legal and technical document of project so searching property through internet become more
beneficial.
Some prospects say that print media is better way of searching property because it is easily
available at everywhere any time and also gives information about current status of project with
marketing details.
Many prospects were saying that buying or searching house or property through broker is not
safe because of their dual nature. Generally they make hype of the developers’ project and hide
negative side of the project.
5. Preferred location of prospect
Table 4: Prospects’ preferred location
39
41. Pie chart showing prospects’ priority for property document
From the above we can conclude that before going to buy a house prospect generally look for the
property documents which comes up to 91.3% of the total responses, and then the marketing
details and the past records come.
7. Prospects’ opinion for need of regulating body in the real estate
Pie chart showing prospects’ opinion for need of regulating body in real estate
41
42. Frequency Percent
Valid
Percent
Cumulative
Percent
Valid Yes
No
Can't say
Total
Total
107
156
37
300
300
35.7
52.0
12.3
100.0
100.0
35.7
52.0
12.3
100.0
35.7
87.7
100.0
Table 6: prospects’ opinion towards Real Estate developers following possessions deadlines
In this question majority of the prospects have the view that there is a need of some regulatory
body that can continuously monitor real estate sector very few prospects say no and least no of
prospects have no reply.
8. Prospects’ opinion towards real estate developers following possessions deadlines
Pie chart
showing
prospects
opinion towards
possession
deadlines
The answer of
majority was not
in favor. Out of
300
prospects , 156
said ‘no’ to this
comprising of 52% of the whole population whereas 106 said ‘Yes’ and rest were in two minds.
9. Customer’s opinion towards govt. to take necessary steps to provide house for
common man?
42
43. Frequency Percent
Valid Cumulative
Percent Percentage
Valid No
Yes
Can't say
Total
Total
98
148
54
300
300
32.7
49.3
18.0
100.0
100.0
32.7 32.70
49.3 82.0
18.0 100.0
100.0
Table 7: Prospect’s opinion towards govt. to take necessary steps to provide house for common
man
Pie chart showing prospects opinion towards Govt to take necessary steps to provide house for common man
Majority said ‘Yes’ when asked this question and comprised of 49.3% of the total answers, 32%
said No and 18% didn’t knew where to go.
People who said no were of the opinion that government should provide the house to only those
poor people who have lost their house in natural calamities and disaster.
Few people were confused about the definition of common man and who comes under it.
10. Documents prospects’ look before buying house?
43
44. Column chart showing documents customer’s check while buying house
Prospects are now very conscious about property document. They were saying that while buying
or searching property they check property document, but since most of them do not know the all
property document required to check that’s why there is need to create awareness about property
document and builders should show the entire property document to prospects themselves.
44
45. 11. Prospects’ expectations from web portals
Column chart showing customer’s expectation from web portal
The responses to this question were varied
Most of the prospects said they didn’t know.
They wanted Transparency.
They Wanted the Web portal to provide the complete information.
Some said they want the timely information.
Some wanted the Web portal to highlight the full information of the Developer.
Some even wanted all the legalities to be cleared by the Web-portals and then displayed
on it.
12. Problems prospects have faced while dealing with the real estate dealers
Column chart showing problem faced by prospects while dealing with real estate dealers
45
46. Frequency Percent
Valid
Percent
Cumulative
Percent
Valid Bulk mailing
Bulk messaging
Office visits
Cold calling
Canopy
Others
Total
Total
3
93
64
126
13
1
300
300
1.0
31.0
21.3
42.0
4.3
.3
100.0
100.0
1.0
31.0
21.3
42.0
4.3
.3
100.0
1.3
32.3
53.7
95.7
100.0
.3
Table 8: Table showing real estate dealers preferred way of approaching customer
There were varied Responses to this question
Majority said that brokers don’t provide support after receiving the commission.
Some said they don’t provide complete information to the prospects.
There were prospects who said brokers don’t disclose hidden costs.
Brokers make false promises.
Almost all of the prospects wanted that the Developers should show transparency and provide
them with each and every form of information which they wanted
13. Preferred ways of real estate dealers for approaching the prospect for 1st
time.
46
47. Frequency Percent
Valid
Percent
Cumulative
Percent
Valid 12345
12435
54321
51423
Total
Total
300
0
0
0
300
300
100
0
0
0
100
100.0
100
0
0
0
100
100
100
100
100
100
100
100
Table 9: Buying stages of the customer from dealers point of view
Column chart showing real estate dealer’s preferred way of approaching prospect
Majority of employees said that their most preferred way of approaching the customer is
via cold calling.
Some employees said that they prefer to drop message before making a cold call.
Some employees were of the opinion that property cannot be sold via approaching the
customer by messaging or calling hence they prefer visiting the government and private
office during lunch time.
Few employees were of the opinion that they can give the presentation to the customer by
using canopy at important places.
Very few prospects preferred mailing and other technique.
14. The buying stages of the prospects in the order they come first from real estate
dealer’s point of view
1. Recognition of need
2. Search of Property
3. Evaluation of alternative options
4. Final Buying decision
5. Post purchase behavior
47
48. Frequency Percent
Valid
Percent
Cumulative
Percent
Valid 1234567
1243567
5432176
5142376
Total
Total
300
0
0
0
300
300
100
0
0
0
100
100.0
100
0
0
0
100
100
100
100
100
100
100
100
Table 10: Sales stages from dealer’s point of view
Column chart showing buying stages of the customer from dealers point of view
All the employees in the marketing department of the office were knowledgeable about of the
customer buying stages
15. The sales stages in the order they come first while selling a property from real estate
dealer’s point of view?
1. Approach the customer
2. Get an appointment
3. Visit the prospect and give the demonstration
4. Take the prospect on site visit and explain the features
5. Take the prospect opinion and review
6. Make negotiations
7. Final deal
48
49. Column chart showing sales stages from dealers point of view
All the employees in the marketing department were aware of the sales stages as it was the
standard procedure in the office and training was also provided on it.
49
51. My Learning from Summer Internship Project
1st
Week: In the first week I came to know about the different real estate destination, their
growth and investment opportunities in real estate sector in Nagpur in Nagpur city. I come to
know about the structure of sales department in real estate companies. I also come to know about
the different projects and development going to take place in nearby future new Nagpur.
2nd
Week: in the second: In second week I learned about different ways that real estate dealers
use to approach the prospects. I learnt to construct and deliver cold calling script. I also learnt to
create and maintain the contact list of prospects while working with real estate companies.
3rd
Week: In third week I came to know about the different property listing websites and to
create free and paid ads on these web sites. I learnt to effectively communicate and give the
demonstration of the property after getting customer appointment.
4th
Week: In 4th
week I learnt to make use of data mining tools to intelligently extract the data
from business listing websites. I also learnt to make use of bulk messaging software to send the
customized messages.
5th
Week: In 5th
I learnt to invite quotation from the land dealers and developers for the new
project.
6th
Week: In 6th
week I learnt about the sales and expansion strategy adopted by different real
estate companies in Nagpur through colleagues in the company from their past experiences
7th
and 8th
Week: I learnt to surrender the follow-up of the customer
51
52. Skills learnt from the internship
Technical skills
Professional mailing using Microsoft outlook express
Data mining tools like Fminer, web data extractor and helium scrapper.
Bulk messaging tool like sms caster and bulk sms sender
Cold calling
Data Analysis using SPSS and MS excel
MS office
General skills
Communication skills
Selling and Negotiation skills
Presentation and Demonstration skills
Objection handling of the prospects
Organizing skills.
Co-ordination and Teamwork
52
54. My contribution to the organization
I visited 10 government offices and gave the demonstration of the real estate project
undertaken by the company.
I contributed the data collected via data mining tool which can last up to next 4-5 months
for approaching prospects via cold calling and office visits.
I contributed 12-15 prospects under follow-up to the organization to achieve the sales
target.
My contribution toward lead generation
I have added 3-4 part time sales executives to the organization.
I sold 2 residential properties and completed my sales target for internship project.
Findings:
Most of the prospects are dissatisfied from the real estate marketing information provided
by the real estate companies, but very few prospects are strongly dissatisfied.
89% prospects are checking legal status of construction while buying/searching a house.
70.7% prospects want to check details of booking before buying or searching house.
Most of the prospects have chosen Print Media & Brokers as a source of information
while buying or searching for a property.
54
55. Prospects that have chosen internet, print media, brokers, and personal reference as a
source of information for searching house or property are more satisfied compare to the
other sources of information.
Most of the prospects chose information related to the property documents as their first
preference compared to the marketing details of the project, past record of builder and
new policies of govt. related to real estate sector.
Most of the prospects wanted the government to make policies in terms of legal, technical
and financial aspects which could create transparency in real estate sector.
Most of the prospects know only the names of few property documents and they check
only these documents while searching a property
Recommendations
Recommendation to customer
Prospects should check all the legal and technical documents and not only the marketing
details of the builders/project, before buying or searching house.
Prospects should go through all the terms and conditions of the project developed.
Customer should be aware of the government’s policy related to real estate.
Customer should visits the company’s website to know the profile of the builder and
developer
55
56. Recommendation to Project Developer (Builder and Brokers)
On the basis of my findings, I have made certain recommendations as follows
First and foremost, the database generated through the project should be put to effective
use through continuous follow-ups to the potential prospects.
Company should provide information according to prospects’ need and necessity and for
that they can open daily polling on their web portal.
Company should not always try to attract the new prospects only, but should also take
feedbacks from existing once, and try to remove their problems and learn from their
experience.
Builders should show their legal and technical documents to the prospects, to make them
satisfied because most of the prospects want to check it and this also helps in creating a
unique identity of the developers.
CONCLUSION
Now a day’s prospects that go for buying a house have become more aware about what they
should look for and the information they should seek, and are more concerned about the selection
of the right type of house for them. But majority of the prospects are still unaware of the
documents which they should look for before going to buying a house. Here I have collected the
perception and analyzed the expectations of the general public as a whole. The conclusion thus is
that prospects need to be more aware of all the documents, the total legalities, and collect as
much as information from the builders, and then only they can do their investment with a free
mind. Thus because of the above reasons there is a need to create awareness among the prospects
as well as project developers to give the prospects the complete information and educate
prospects is appreciated in this regard.
56
58. Referred Books:
Kothari C.R. - “Research Methodology” New Delhi Tata McGraw Hill In (95-102).
Kotler Phillip –“Marketing management “analysis, planning implementation and control.
Schiffman Leon G. & Kanuk Leslie Lazar, - "Consumer Behavior", Prentice Hall of India
“6th edition.
Kotler Phillip – Marketing Management: A South Asian Perspective.
Stephan Schiffman - The Ultimate Book of Sales Techniques.
Referred Websites:
www.futureinfrangp.com
www.indianrealestateforum.com
www.propertywala.com
www.buisnessstanderd.com
www.Justdial.com
www.click.in
www.yellowpages.co.in/
www.clickindia.com/
www.99acres.com/
58
60. Data Collection Tools
The data collection tools used during the project to extract the customer data from the web sites
are given below
Fminer
Web data extractor
The messaging tools used during this project for sending the bulk messages to the customer are
given below
Bulk SMS sender
SMS Caster
The website referred for online data extraction in these project are given below
Just Dial
Quickr Nagpur
Olx Nagpur
Nagpur yellow Pages
Click India Nagpur
The tools used for data analysis and interpretations are given below
SPSS
MS excel
60
61. QUESTIONAIRES
Name:
Age:
Profession:
a) Govt
b) Pvt
c) Business
Contact No:
1. Rank the following detail according to their importance at the time of purchasing
a) Property documents
b) Marketing details of builder
c) past record
2. Tick the options which match your preferable location?
a) Nagpur
b) New Nagpur
c) Pune
d) Mumbai
e) NCR
f) Noida
g) Other
3. For the above chosen option how much are you willing to pay?
(Amount in Rs)
4. Do you think real estate developers give possession timely?
61
62. a) Yes
b) No
5. How much are you satisfied from real estate marketing information provided by real
estate companies?
a) Highly Satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly Dissatisfied
6. What source of information do you prefer while buying for a property?
(You can check multiple options)
a) Print Media
b) T.V and Radio
c) Internet
d) Outdoor Add
e) Personal References
f) Broker
7. Do you think real estate web portal bridges the information gap between real estate
developers and customer?
a) Yes
b) No
8. What all documents you checked before buying a house?
(You can check multiple options)
a) Link chain ownership document.
b) Registry
c) Map approval doc.
d) Khasara No
62
63. e) Sale deed
f) Paper shows approval from government authority
g) Paper of agreement between buyer and seller
h) No objection certificate (N.O.C.)
i) Release Letter
j) Payment receipts
k) Power of attorney of land
9. What are your Expectations from the web portal?
(You can check multiple options)
a) Web Portal should provide transparency.
b) Web portal should provide the complete information.
c) Web portal should highlight the full information of the Developer
d) All the legalities should cleared by the Web-portals and then display property on it.
10. Should govt. of India take necessary steps to provide house to the common man?
a) Yes
b) No
c) Can’t Say
11. What problems have you faced while dealing with the real estate dealers?
(You can select multiple options)
a) Brokers don’t provide support after receiving the commission.
b) Brokers don't provide complete information to the customer
c) Brokers don’t disclose hidden cost
d) Brokers make false promises
12. What is your preferred ways of approaching the customer for the 1st
time?
a) Cold calling
63
64. b) Bulk messaging
c) Bulk mailing
d) Office visit
e) Canopy
f) Other
13. Arrange the buying stages of the prospects in the order they come first while investing in
Real estate?
1. Recognition of need
2. Search of Property
3. Evaluation of alternative options
4. Final Buying decision
5. Post purchase behavior
a) 12345
b) 12435
c) 54321
d) 51423
14. Arrange the sales stages in the order they come first while selling a property?
1. Approach the customer
2. Get an appointment
3. Visit the customer and give the demonstration
4. Take the customer on site visit and explain the features
5. Take the customer opinion and review
6. Make negotiations
7. Final deal
a) 1234567
b) 1243567
c) 5432176
d) 5142376
64
