Vic Viswanath, CEO, Century 21 Paradigm

The increasing industrialisation and urbanisation has given a boost to the real estate sector. This highly unorganised sector is now coming up as the most powerful industry to start a business in. In an interview with FIHL, Vic Viswanath, CEO, Century 21 Paradigm shares the success story of his company.

Ramanjit Kaur (RK): Tell us about the origin of Century 21 and its foray into franchising?

Vic Viswanath (VV): Century 21 is one of the world’s leading real estate sales and brokerage organisations. Formed in Orange County, California in July 1971, Century 21 Real Estate Corporation was the brainchild of Art Bartlett and Marv Fisher. By 1976, the first international master franchise was sold in California. Australia was the sixth international region to be established in May 1989. It was closely followed by Japan, U. K, Northern Ireland, Mexico, New Zealand and India. The organisation has over three decades of experience.

RK: What practices and initiatives have you introduced in Century 21?

VV: Our strength is born out of people with a constant dedication to customer service. We focus on our client’s satisfaction and offer a complete transparency in every transaction.

RK: What is the eligibility criterion for selecting franchisees for your company?

VV: We seek franchisees with the ability to provide professional operations that include training, quality service and integrity. Apart from this, the franchisee must have the financial strength to operate a high quality office.

RK: How many franchisees does Century 21 have and in which all cities?

VV: It has a strong global presence in six continents spread over 64 countries. It has more than 8,000 franchise brokers with over 1, 45,000 sales professionals worldwide. There are seven offices of Century 21 Paradigm, mostly in Delhi and NCR.

RK: What kind of support does Century 21 provides to its franchisees?

VV: We provide our franchisees with a complete support that includes brand building, marketing support, training, real estate industry foresights and motivation.

RK: What is the break even period for a ‘Century 21’ franchisee?

VV: It approximately takes one year for our franchisees to start earning profits.

RK: Any advice for the young entrepreneurs?

VV: For aspiring entrepreneurs, India is one of the best countries to start a new venture in. One must follow ethical business practices and learn to pay bills on time to become a successful entrepreneur.

RK:  Share with us any new venture that your company has entered into?

VV: Presently, we are working on several FDI projects, which involves US based firms and Indian developers.