Brokers need to be on top of their game in this ever evolving globalised industry

The real estate industry in India is set for better times in 2017. With the economy already the leading the major economies of the world in terms of fastest growth, this resurgence after a lull period of almost 5 years by one of the mammoths in our country seems to have come at the right time. With an increase in demand for both residential and commercial units and an influx in FDI’s expected, it could be time for the real estate industry to lay out the red carpet once again.

In a period like this, brokers also have a lot to gain…or lose maybe. This is the time for every broker to sharpen their skills sets if they want a large slice of the pie since they are amongst the few entities that do or need to do most of the work on their own. It is equally important to know your work and your work schedule. After all, no one stands to gain if your clients keep calling you throughout the time you are showing another client some property. The following pointers should help any real estate broker conduct his business in a much more efficient manner.

Do your homework properly

It is essential to maintain a strong base and have a good understanding of the latest developments
While not known for sharp dips or lifts, there are enough fluctuations and factors that keep the entire industry on its toes. Real estate customers are generally not the most well informed on certain matters and yet are the most demanding. It helps to be in the knowhow of current issues so that you can promptly answer all the queries of any hapless customer. Apart from this, keeping tabs on the news around helps to know about the best deals and discounts which would be beneficial for customers as well. This said, it is good to do some networking in the circle as well.

The Sphere of Influence (SOI)

This is a different approach to networking and would help build contacts faster

This sort of model involves getting real estate leads from builders and developers in Bangalore and everyone that you know. It could be the local vegetable seller or your batch mate who you last saw years ago in school. The motive behind this is to have as many contacts possible through people you know in as many channels possible. Not only does this give you a base to start some sort of conversation, few people in India would give up on a chance to not help one, but two people that they know.

Technology

It seems to be the answer and go-to thing for almost any and every industry on the planet

This is even more important when you could be a one-man army. Technology as changed the way the world looks at everything and does everything. Our ancestors wouldn’t have probably even thought flying to London would be a possibility, forget about flying to the moon. Having access to the latest in technology would help your job become a whole lot easier since most things would be availed off with a couple of flicks of your fingers.

Image

In today’s world, aesthetics plays a huge role in forming a favourable impression in the eyes of a customer
Imagine walking in to a shop which is dirty and dingy with dust all over the items that are on display with a disinterested shopkeeper. Not the place you would like to be in. Same applies for brokers as well. While you may not have your office in the swankiest location, it does help to give it a neat and attractive look. Brushing up on your appearance and your vocational/ written skills will also help in making a better impression on your next business meeting.

Efficiency is the key

No matter how good your negotiating skills may be, it is ultimately efficient management which will get you to places
You could be the best in your business, but that would not matter to a customer if things kept falling out of schedule. Knowing how to make a business is one thing and knowing how to keep it is another. Chalking out your plan for the day or even week is one of the best ways to keep your customers happy.