In India, the commercial real estate sector is on its evolutionary pathway. The current real estate business in India is projected to be about fourteen billion USD. This business market is witnessing the emergence of professional players and consulting organizations with expertise in real estate. These consultants are acutely encouraging investments in the real estate and improving the infrastructure facilities. In addition, the government is also initiating acute measures to attract global investors and professionalism in real estate. A successful new-age real estate consultants are dealing with certain challenges related to the favorable demographics, increasing purchasing power, the existence of customer friendly banks & housing finance companies.
Stick to the Personality Strengths
Introverts or extroverts, both have the capacity to overcome the challenges of being a successful real estate consultant. Knowing one’s strengths can actually outperform the rest by a large margin. These strengths are the friendly nature, trustworthiness, honesty, determination and so on. Personality skills are the need of the hour for an effective referral-based business. The decent real estate agents need to know when to speak, and when to listen. This will help them to evaluate their respective personalities and then enact their strengths. The finest real estate agents are those who focus on cultivating their clients and serving them to achieve their dreams. They should always stick to their own personalities in order to drive beyond the horizons.
Connecting Every Dot of the Market
Today, the measure of a good real estate agent is marked by the expert knowledge about the market. The present era is providing the clients with the advanced technology, where they can find plenty of information available on the internet. This led the real estate consultants to study the market stats and trends. This will help them to educate their clients about the current market and investments. They should cover every aspect of the market to stay on top and have the smarts to put it all together. They should have a deeper local knowledge for being an expert in a specific area. Knowing the market will help them to make their clients understand the affordability of a certain up-and-coming area.
Consistent Learning and Planning to withstand the Industry
The real estate consultants cannot educate and instruct their clients if they themselves are not educated. They should focus on operations that would help them to learn and be updated on trends and issues in real estate. By studying the existing and increasing mortgage rates, they are helping the clients for their future investments and sales. A basic plan and strategy are needed to invest capital in the technologies and new gadgets to be used. The follow-up process and systems to track and measure your results also play a vital role in the establishment of a successful real estate business organization. Some trials and error with the planning will help a business to run like a well-oiled machine. Continuous practice, study, learning, and planning can help a real estate agent to overcome the industry challenges and attain stability in the competitive industry.
Maximize the Technological Influence
Technology has become an essential entity of the real estate pie. . This technology will help them to keep their organization’s market shares stable in an increasingly internet-driven world. Using the right tools and technology will maximize their impact and save time and capital. Investing in the best CRM system will help them to maintain the bond with past clients, monitor current contacts, and will further lead to attracting future clients. This software technology can help the real estate organization to gauge progress and course-correct their processes. Independent research and analysis states that in the real estate market, the CMR technology had increased revenue by forty-one percent, per sales person and increased productivity by twenty-six percent in 2018.
Patience and Persistence
Even after planning, maximizing the use of technology, it can take several weeks, months or a year to get a satisfying return on the investment. Keeping this in mind, a real estate consultant must remain calm and persistent. Work harder with smart prospecting, right perception and positive response to failure. The ability to face the rejections is the key to establish a successful new-age real estate consultant.
According to some of the property consultants, Indian real estate market is projected to reach 180 billion USD by 2020. The top eight Indian cities will see an additional demand of 2.8 Mn units in the next 5 years, just in the residential property. Further, there would be more than 400 Mn investments in the online real estate startups. The market size of the real estate sector is expected to upsurge at a CAGR of 11.2%. According to a survey, the development in technology will acutely impact the real estate agents in the coming future.
Secrets of Being a Successful New-Age Real Estate Agent
