Bangalore’s luxury boom sees young realtors thriving

Posted on Posted in General News

With the boom in the luxury segment in Bangalore, the market has witnessed a burgeoning of young first time realtors from very diverse backgrounds.

“The high-end and super high-end segment of projects are for the discerning buyers, who know class and quality and believe in the relationship building network alone,” says Ananth K Nayak, Group CFO, Total Biodiversity Development India Ltd. “This has spurred a more globalised and transparent approach to selling these projects. This has resulted in several young talented people from diverse fields entering this business.”

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As it is not a nine-to-five job, several women, especially homemakers, are entering this market.

Take the case of Deepa Narayanan, an expat, who returned to Bangalore a year ago, after a long sojourn in the Silicon Valley. She didn’t want to take on a full time job as she has a four-year old toddler. A chance enquiry by a friend from the US about a luxury project resulted in her taking up the realtor job in real earnest.

“It gives me flexible hours, a good reason to socialise and good money,” says Narayanan. “In India, you don’t really need a license to provide this service plus there are very few people in this segment. So all in all it is a convenient career to have.”

“Nothing spreads faster in this community than the word-of-mouth publicity,” says Madhusudan Dasappa, formerly a program manager with a leading IT MNC and currently a full time celebrity realtor “I did a Rs 5 crore deal a year back in Bangalore, and the client was so pleased with the way I handled it, I am today handling the property investment of his two sons and a brother-in-law.”

So what are the key skills to master to make it in this industry:

Invest in building your brand

“Buyers in this segment have been through the process before and want a luxury experience, and if they don’t think they’ll get it at your community, they’ll go somewhere else,” says Dasappa.  “Thus you need to read the magazines that your clients read, visit the cultural venues where they spend time and understand their complete expectations and above all talk their language.”

Presentation skills

“You need to exude the luxury lifestyle at all levels, in brochure, language, tone, organising client for site visit and follow ups at luxury ambience for discussions,” says Dasappa.  “I once took the client to a high-end home-stay in Coorg to discuss further by letting him know about weekend options, in case he lives in Bangalore.”

Persistence and patience

“It takes about eight to nine months for a deal to come through. To keep their interest, I send personalised videos regularly of each project, at two levels: as a walk through and as a visitor. And follow it up with report on the status of the project,” says Narayanan.

Source: Times of India

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