Future of Real Estate Broking

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Future of Real Estate Broking

  1. 1. The future of real estate broking Manaan Choksi, Regional Director, RE/MAX
  2. 2. Agenda • History of the Broking Industry • Industry snapshot / Present status • Outside trends • The Future of real estate broking • Profitable broker office • The RE/MAX Concept
  3. 3. • People dealt with real estate themselves • “Dalal Maaf” • Hardship to the end user • Real estate transactions were the realm of the rich • Number of transactions much less than today • One property 10 broker trying to sell History of the Industry:
  4. 4. • Government has no regulation : not even specific indirect tax. • No useful implementation of technology • No training / education in the industry • Highly localized • No Goodwill creation of brokers • Limited Networks History of the Industry:
  5. 5. Present Status of the Industry
  6. 6. Industry Snapshot • 60% of a persons Net worth is in Real estate • 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) • Investors from all India have invested in Gujarat
  7. 7. Industry Snapshot • With Tata Nano, Ford, Peugeot setting up plants in Gujarat, real estate is going to be in demand • Migration of people to cities is set to grow: 70% of India still stays in villages. • Gujarat’s GDP is growing faster than the rest of India since 3 or more years. • 3 of the top 100 growing cities in world are in Gujarat
  8. 8. 8 Present Status of the Industry • As the market expands dependence on a real estate agent has become necessary • “Dalal Maaf” to “Dalal Aavo” • Hardship has reduced to the end user • Real estate transactions has penetrated to middle class • Number of transactions growing
  9. 9. Present Status of the Industry • Government has started thinking of regulation • Service tax has been imposed • Some implementation of technology • No training / education in the industry • Mostly localized : Customers widespread • A few brokers have Goodwill • Limited Networks • One property 100 trying to sell and 3 people sharing commision 9
  10. 10. Outside trends: • MLS : 1883 in USA: • In the late 1800s, real estate brokers regularly gathered at the offices of their local associations to share information about properties they were trying to sell. They agreed to compensate other brokers who helped sell those properties, and the first MLS was born, based on a fundamental principle that's unique to organized real estate: Help me sell my inventory and I'll help you sell yours
  11. 11. Outside Trends: • Technology: – Internet Penetration has increased – 3G : Mobile internet – iPad: Mobile internet + Computing – Property Portals
  12. 12. Outside Trends: • Regulation: – Builders regulation – Brokers regulation: • Licensing • Exam • Continuous education – Enforcement of brokerage contract
  13. 13. Outside Trends: • Blue Ocean / Red Ocean – Blue Ocean where all companies are profitable and market is calm – Red Ocean is where all are bleeding and companies are closing / new are entering – Competition v/s oligopoly – Telecom Industry : even after mobile number portability, Airtel able to raise charges
  14. 14. Outside Trends: • Transparency – Past prices of same property – Past deals in vicinity / same class – Confidence in broker that they have not kept a margin
  15. 15. Outside trends: • Stock broking :Earlier it was dominated by Mumbai based firms • Then regional stock exchanges • NSE Came in to operation : – Technology – Risk Management – Franchising – Research • Customer retention becomes the only important factor in determining your success.
  16. 16. Verious Real estate company enter in to indian Real estate broking Business
  17. 17. The Future of real estate broking
  18. 18. The Future of real estate broking • People dealt with real estate only through agents • “Dalal Joyiyej” • Easy to end user • Real estate transacted by every class • Number of transactions grows exponentially • Each broker selling only one property
  19. 19. The Future of real estate broking • Regulations will change • A lot of implementation of technology • Continuous training • Glocal Real estate broker • Strong Goodwill creation of brokers • Wide Networks
  20. 20. WHAT MAKES A PROFITABLE BUSINESS?
  21. 21. Which business is more profitable? More number of property options for customers OR Less number of property options for customers
  22. 22. Which business is more profitable? A well trained agent OR Untrained assistants / employees
  23. 23. Which business is more profitable? Latest technology to market their properties OR Doesn’t use technology to market their properties
  24. 24. Which business is more profitable? A large international network OR A stand alone operation
  25. 25. Which business survives longer? With lower fixed cost OR When fixed running cost is high
  26. 26. Which business is more profitable? Is in Business since long OR Just opened
  27. 27. Which business is more profitable? Running based on a proven concept globally OR A office started without any proven concept
  28. 28. Which business is more profitable? A system driven model OR A person driven model
  29. 29. RE/MAX India GIVING YOUR BUSINESS THE RE/MAX LEVERAGE
  30. 30. REFLECTIONS OF GREATNESS RE/MAX India Established in Denver, Colorado (USA) in 1973 by – Dave Liniger The only internation real estate broking company still owned and operated by the original promoter
  31. 31. REFLECTIONS OF GREATNESS RE/MAX India - Real Estate Maximums
  32. 32. REFLECTIONS OF GREATNESS RE/MAX India RE/MAX did house sales of more than $500 bn. If RE/MAX was a company, we would be bigger than WALMART
  33. 33. RE/MAX India GLOBAL RECOGNITION
  34. 34. REFLECTIONS OF GREATNESS RE/MAX India BRAND NAME RECOGNITION RE/MAX is #1 The most recognized logo in real estate 34
  35. 35. REFLECTIONS OF GREATNESS RE/MAX India THE ICON IN THE INDUSTRY 35
  36. 36. REFLECTIONS OF GREATNESS RE/MAX India Business Model: A business model working successfully in more than 7000 offices and created millions of entrepreneurs worldwide
  37. 37. REFLECTIONS OF GREATNESS RE/MAX India Only real estate company to feature in the book “50 Companies That Changed the World” by Howard Rothman
  38. 38. REFLECTIONS OF GREATNESS RE/MAX India World’s largest Real Estate brokerage franchising network…!
  39. 39. RE/MAX India ABILITY TO DO BUSINESS IN MORE THAN 88 COUNTRIES
  40. 40. OPERATING IN 105 REGIONS IN 88 COUNTRIES
  41. 41. REFLECTIONS OF GREATNESS RE/MAX India Network... 88 Countries 7000+ Offices 100,000+ Agents 20,00,000+ Transactions
  42. 42. REFLECTIONS OF GREATNESS RE/MAX India Network… 23 Regions 135+ Offices 500+ Agents 5 Transactions/day
  43. 43. RE/MAX India EDUCATION & TRAINING
  44. 44. REFLECTIONS OF GREATNESS RE/MAX India More than 25,000 hours of training in India done
  45. 45. REFLECTIONS OF GREATNESS RE/MAX India CONFERENCES & CONVENTIONS
  46. 46. RE/MAX India TECHNOLOGY
  47. 47. REFLECTIONS OF GREATNESS RE/MAX India WWW.REMAX.COM 1 Million Unique Visitors per month World’s largest visited real estate website
  48. 48. REFLECTIONS OF GREATNESS RE/MAX India TOOLS TO GROW YOUR BUSINESS
  49. 49. REFLECTIONS OF GREATNESS RE/MAX India OFFICES IN AHMEDABAD 1 Mr. Vivek Parikh Satellite RE/MAX Metro 2 Mr.Nishant Makhija Vastrapur RE/MAX Real Estate Services 3 Mr. Charanjeet Singh Bopal RE/MAX Aad Realty 4 Mr. Anand Choksi Satellite RE/MAX Advantage 5 Mr. Ankit Patel Memnagar RE/MAX Castlemore Realty 6 Mr.Tushar Gandhi S.G. Highway RE/MAX Vintron Gold 7 Mr. Chetan Parikh Ellisbridge RE/MAX Milkatz 8 Mr. Nikul Patel Sardar Patel RE/MAX Achievers 9 Mr. Manish Shah Maninagar RE/MAX Real Estate Experts 10 Mr. Nirav Vakharia/Mr. Harit Parikh Stadium RE/MAX REALTY SOLUTIONS 11 Mr. Manan And Chintan Patel Bodakdev RE/MAX Mann Realty 12 Mr. Ojas Khanderia Gurukul RE/MAX Redux Realty
  50. 50. REFLECTIONS OF GREATNESS RE/MAX India BROKER OWNERS OF AHMEDABAD
  51. 51. REFLECTIONS OF GREATNESS RE/MAX India BROKER ASSOCIATES OF AHMEDABAD
  52. 52. REFLECTIONS OF GREATNESS RE/MAX India ACHIEVEMENTS RE/MAX Bangalore Franchise does landmark transaction
  53. 53. REFLECTIONS OF GREATNESS RE/MAX India ACHIEVEMENTS  Lodha New Cuffe Parade
  54. 54. REFLECTIONS OF GREATNESS RE/MAX India ACHIEVEMENTS  Godrej township
  55. 55. REFLECTIONS OF GREATNESS RE/MAX India HOW TO JOIN RE/MAX ?  There are two options to be a part of the revolution in real estate broking:  If you have an office or if you plan to buy one: join as a Broker Office (BO) : Talk to Mr. Devansh Kothari for appointment : 9879167987  If you want to work as a Broker Associate with a BO then please talk to Ms. Salma Khatoon for appointment: 9909066999

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