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Business services 2009-11-06

Cash in on realty boom

Reaching the apex of success is an ambition. The moment you start feeling that you have acquired the highest career goal, you want yourself to get confronted with something new. If you fall under similar category of careerists then you must read below to

By Ramanjit Kaur Feature Writer

Indian real estate industry is developing at 35 per cent and is projected to grow at the rate of 30 per cent annually, over the next decade, expecting foreign investment worth $ 30 billion. This revolution in Indian real estate is a contribution of booming economy, liberalisation of FDI, and favourable demographics. Large numbers of people these days prefer business opportunities to routine jobs as these are not just exciting but good money making machines.

Real estate is one sector which is constantly flourishing and expanding in India. Every year new developments are taking place which is taking real estate to new heights and simultaneously generating more franchise business opportunities. Many top realtors have realised the potential of franchise and this is the reason why they are finding more and more ways to generate best and lucrative real estate franchise opportunities. As Vic Viswanath, CEO, Century 21 Paradigm says, “Franchising is the best way to introduce answerability and commitment in the sector thereby offering better professional services to the clients.”

Benefits of real estate franchise

Real estate franchise opportunities are catching up with the people in India as it provides:

  • Maximum revenue: Real estate involves money in crores, millions and billions, as big industrialists, hoteliers and residential developers are getting the best deals done. Therefore, there are huge margins for the realtors.
  • Healthy contacts:Real estate franchising gives you an opportunity to deal with the elite, bureaucrats, celebrities, VIPS and VVIPS. Thus you can build healthy and strong relationships with big wigs and influential by giving them the best deal.

Word of caution

No doubt real estate franchising is an excellent opportunity, but before you initiate your real estate franchise, it is always advisable to clarify as many doubts, as you can, by asking questions to your franchisor. Also majority of the real estate franchise opportunities depend upon three factors which are:

  • Visibility:It will include the location of your office, marketing and promotion of the brand and recognition of the brand. Before signing a franchise agreement it is recommended to confirm what support and training programmes the franchisor is willing to provide.
  • Profitability: Verify the profitability of the franchisor; you can speak to his other franchisees and know about the profitability trend; also check the list of his franchisee clients.
  • Opportunity: Ascertain the quality and quantity of the opportunity the franchise provides.

Running the franchise

By now, I think the article must have been able to arouse your anxiety to know about how to run a real estate franchise.

All that it takes to start a real estate franchise is:

Financial investment: A real estate franchise business (or real estate brokerage) is not a business where you need hundreds of thousands of dollars of investment to start an operation. It can be a very low cost business, if you commence it methodically and in a structured manner.

Licensed real estate broker: A franchisee needs a licensed real estate broker in the business. You can get your own real estate license. Hiring an outside broker can cost you a set fee per transaction, or a percentage of ongoing fees for his/her compensation.

Office space: Initially it is advisable to start with smaller office and grow gradually.

Technology:Technology is the need of the hour. The web building activities have added value to the real estate franchisees as the idea brings in business through millions of website visitors. As a franchisee, you have to guide these visitors to the appropriate local office for their real estate queries and deals. Thus, internet provides you an opportunity to rope in clients and builds loyalty to the brokerage and franchise brand name.

Networking: After technical proficiency, it is the networking skills that play a significant role in finding buyers and sellers. Even the inter-linked local websites help in developing and growing the brand network by recommending the visitors from one area to another. As a capable real estate franchise owner, you must have your local network that includes investors, developers, consultants, bankers, fund managers, home owners, lawyers, architects, vaastu consultants and many more.

Marketing strategies: In real estate franchise, national branding plays a negligible role as it plays in other franchising businesses. It is the management (brokers and contractors) and local level marketing that helps in establishing a business. As a franchisee, you must have the knowledge to develop a customised marketing plan at the local level. Local level marketing helps the franchisee in presenting a professional image and helps bring in more business (through clients).

A vigilant outlook : In real estate franchising, the franchisee is required to be aware of the latest investment trends, city reports and land prices. One should keep track of stock exchange, have list of properties in one’s area, and maintain a daily account of brokers, contractors and managers. Only a well informed franchisee can succeed in the real estate business.

Franchising is the future of the Indian real state sector. If you have the zeal to transform your precious money and valuable time into profits, the real estate sector has immense potential for you.

In short, anyone who is cashing in on real estate franchise opportunities will be securing his or her future. If you wish to rise high in life then selecting various real estate franchise opportunities available in India is the best choice.

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