VUCA on steroids: Realty Sales – KAK

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KAK – Kal Aaj Kal

The interesting thing about Realty sales is that all the participants in the process want to have their cake / KAK and eat it too .

Yes, Kal Aaj Kal .

Of course, the only industry more interesting than Bollywood is Realty. Probably, because it’s life’s basic necessity and each one aspires for a really roof reality.

Realty is also a thrilling roller coaster and adventurous skydiving experience rolled into one.  The land owner, land consolidator, financier, planner, approver, regulator, developer, builder, architect, interior designer, civil contractor, landscaper, MEC, PMC, marketer, Influencer, distributor, seller, buyer, tenant, lawyer, registrar and the characters could be more too. Thank God, there isn’t any Casting Director in this Bake. The execution and elimination are conducted by, usually fair and just Directors.

So, ‘Khosla ka Ghounsla’ was the tip of the iceberg. And , Sanjeev provoked me to attempt ‘ Hounsla bhogya  Ghounsla . ’

 

KAL, Yesterday.

Realty was about plots, society schemes, serpentine queue, forms, Govt auctions, lottery, long wait for allotments etc. More demand, average quality, limited supply, rural to urban migration, joint to nuclear family, staff housing, simple homes and the channels thrived.

The country’s second largest employer’s journey, from infancy to growth, gradually led to improved quality, qualified wealth manager channels, qualified business owners, talented executives, price wars, job creation, entrepreneurs, competitive markets, brand building, advertising, trained direct teams and easier home loans. Thus, upper middle class, NRIs and city investors arrived.

Slowly and surely , the  markets matured , and you witnessed a international bouquet of residential  products , shopping malls, hi tech parking lots, swanky offices, support facility infra , lifestyle enhancers , easy loans, younger buyers, denser vertical developments, charming congregating spaces , and the previous gamblers , and their holding capacity , got tried.

As per the laws of evolution the regulators stepped in. Reformation process in Trishul formation was announced-Demonetization, GST & RERA implementation. We witnessed the Phoenix in Realty resurrection.

The perceived villain turned out to be the hero in the Realty script. Dodo and Dinosaur cried. Crocodile and Tortoise both survived. The diseased and weak, reinvented or perished.

The pitfalls are usually autocratic leadership style , too much sense making or even distributed leadership. An orchestra needs unity of command, mission and vision , else it’s a noisy – stinky fish market.  Yes , the disciplined and committed thrived .

AAJ , today.

No story writer can think of reality show storyline plots, as brilliant as the Realty industry’s journey. So, Enter the Dragon theme.

2020 started with Bats theme and presently battling with Battalion theme. So someone ate Bats. COVID 19 was born.  The pandemic spread around the World Wide Web. The world shut down.

The locked in world saw hurricanes, earthquakes, locust attacks, tragic and mysterious celebrity deaths, COVID tragedies, COVID warriors, border aggression, non-stop continuous breaking news, hopefully from the comfort of their own homes.

Sunrises full of hope and sunsets full of dreams were witnessed too. Quarantine was like valentine if the home and occupants were appropriate, or cancer inducing nicotine if not.

People couldn’t meet, see, buy, but if the offer price was ridiculous, the deal was sealed. If a buyer was needy, they paid and moved in. Tenants decided it’s better to be an owner if the new normal is,

“ Say  Aum . Stay home”.

Locked in, gave lots of time for digital exploration to buyers and creative marketing expression to sellers. The industry leaders got very busy building historical, “Minars of Webinars “. 

During these amazing intellectually charged discussions amongst the brilliant orators, a random musical disturbance of pressure cooker whistle, extra expressive pets or ricochets from loving kids, created a need for more space and upgrade was recognized. Realtors lapped the opportunity. Study room, servant quarter, additional bedroom, home office, additional parking etc. were delicious lollipops. “Upgrade with sweet deals, more interesting than home cooked meals. “

Realty Media continues working overtime at content building, data dissemination, information capturing and hope creation. The most responsible fourth pillar. “Motivating, important faces who never showed up at seminars due to travel time. Now, forever visible live on Google meet, Zoom, WebEx , MS team , FB and even on facetime.  “

Today, is actually the best time to buy, seriously. AAJ 

  • Amazing deals. 
  • Allotment of choice.
  • Joy for family.
  • Wise? Wonder? Why? Wait?

“Rainbow Logic of Seven.
Pot of Gold is Earth, not from Heaven .”

  1. Financial – FD interest rates not lucrative and stocks risky. To bridge the gap between FD and cost of unit. Residential rental return expected is approx 2- 2.5 % of cost . FD rate is varying from 3 – 5 % , but net after tax is not attractive anymore . So , gap  is almost erased.  Assume that there would be a min 5-10 % appreciation in the cost of the unit , once the surrounding infrastructure , e.g. DEW new growth corridor is ready. ( Dwarka Expressway) Capital protection and hope for long term appreciation is expected.
  2. Proof – Testimonial on digital  media of residents from various backgrounds , of their safe life post Covid .
  3. Vision – Expand your vision and bridge the gap. Why do you live where you live? Critically analyse what are the things you missed these months ? How can your family be more comfortable even when locked at home  ? Act fast , because prices are rock bottom .
  4. Webinars – The entire family can bond and explore together and all the queries can be answered by an entire qualified professional team of subject matter experts , at one go.
  5. NRI’s Job insecurity. Visa insecurity. Lack of confidence in the medical and social support system. Must have a nest egg befitting your social status in a safe asset with nominal recurring expenses  . Close to the airport, hospital , school etc Close to place of work or malls, is no more part of ‘Location Location Location ’ pitch. Study the deal, negotiate and stitch it.
  6. Shark Category Investors  – Doctors , lawyers , CA ‘s , jewellers, wholesaler, traders in essential goods etc. Avoid wealth depletion in other investment categories and go for Realty legacy categories like plots  . Choose Wealth protection.
  7. Corporate executives – Grab the loan before salary correction . Stop the rent and bite the emi.

“ Wake me up before, you go-go.
Take it up before, builder says no-no. “

Working women 10/10

  1. Freedom from a fussy landlord.
  2. Great retirement plan
  3. Investment psychologically like gold. Tangible asset.
  4. Change your destiny, take a courageous step. Address of Pride.
  5. This is the generation which breaks the son – daughter prejudices.
  6. Life goals- Homeowner before baby comes.
  7. The real StreeDhan
  8. Sach mein – Beti ka Ghar / Maa ka Ghar . Women make the house a home.
  9. Self-respect- Even if you don’t need it or live in it. Own it. Live with a man because you want to, not because you need to. Earn his respect n by the way, earn rent too.
  10. You don’t need to shake trees for magic to happen. Own today. Pay after 2 years. Market is flooded with easy payment plans, directly from Developers, like never ever before.      

Young Adult: Male 10/10

  1. Being responsible is the new cool. You spent your spring – summer in mom’s lap at her place. Let her spend her autumn – winter with pride at what she created in you, and you make her the queen of your home.
  2. Cars, Bikes, Vacations, Spirits, Cigars are old cool. Social distancing times are here. Reality Realty.  Home is most important since you are strumming, singing, painting and more.
  3. Need a home with a proper ‘work from home’ set up. Extra space. Study. Smart lifestyle.
  4. Essential services and a home you own, where the landlord doesn’t throw you or your loved ones out, if illness strikes. 
  5. Quarantine in your home. Keep improving it every day. Paint, rearrange, DIY ideas.
  6. Webinars and VC meetings give you the chance to show your buddies across continents, you’ve arrived.
  7. It’s not important that you topped the class but it’s important that you top in life. Life’s wisdom. Buy a home in your name today.
  8. No wasting money on clothes, accessories etc. You just experienced that, “Organizing is exhausting. Donating is rewarding.” They are pleasures for a few seconds.
  9. Home is a lifetime of joy. Just visualize yourself.  ‘My pad. My pride. ‘
  10. Man, of the house or baby boy still?

 Elderly couples. 10/10

  1. Move closer to where the kids work.
  2. Move closer to where the best hospitals are.
  3. Move closer to the international airport for your kids and grandkids.
  4. Time to invest your time in yourself rather than managing your home. Get rid of the plumber, carpenter, electrician , pet walker woes and landlord problems.
  5. Evening walks , morning jacuzzi dips , terrace yoga and laughter club. You need no stress, dust or safety concerns. Retired from work is not retired from life. Start your cool life.
  6. Relatives visiting , doesn’t mean you die cooking or organising. Entertain from the club . Buy the home you deserve to own , after working so hard for decades .
  7. Parking wars are passé when you own your new modern planned , fully fitted home.
  8. The beauty of witnessing starry nights above and stary lights below. It multiplies when you own your sky and earth. Rekindle the romance in your life by having a “young new home.”  Sometimes, downsize is the right size too. A change of home is all you need to refresh life.
  9. Old homes need loads of upgrades.
     “Buy new. Renew.”
  10. Since holidays are now extremely risky, a new home can be a holiday home and the only change you need to kill boredom. Music room, pooja room, bar, terrace garden.
    “Choose wise. Customize.”

KAL, Tomorrow.

As the world gradually unlocks in the absence of vaccine and cure, we realize that, life has to move on. A confused and shaken population crawls back to life. Normalcy as we knew it is still evasive. Site visits are happening and closures too.

The important part is to focus on digital marketing tools, virtual experiences, social media analytics, content management, mobile commerce, predictive modelling, reciprocal communication, cyber security, effective virtual communication, team morale and communication. All of this while remaining safe.

Realty will sell on the strength of logic and reasoning, facts and figures, end users and long-term investors. India is a growing economy and market. Committed and responsible builders will thrive long term. Attention to detail and understanding market sentiment will define the leaders. End to end assistance to prospective buyers, beyond expectations, is the need of the hour, rather than the art of pitch.

The most beautiful part of the new ‘Kal ‘is, that it’s a mystery , but our experienced  ‘ Kal ‘ i.e. history , will guide us through the challenges . Aaj is probably short for Aajaa. Come on. Prepare today.

We must welcome with excitement the opportunity to discover our competence and learn new skills too. Being Livid is not an option. Heal yourself and then heal your organization. COVID will soon be Insipid, but only after testing the Timid. Vivid lessons from 2020, will be learnt, remembered and taught.

The cure and vaccine will soon emerge, in our now cleaner, greener and dearer earth. Just like the animals and birds chirped and walked freely during the extended Corona Pandemic lockdown, our investors will cautiously stroll back with their savings and new ideas of earnings. The Indian monsoon brings hope.

The unlock reality will be even more fascinating and dramatic than the lockdown. The costs will go upwards and so will the prices. Fewer new launches, delayed handovers and improved Customer services, will fuel the prices and demand of ready to move and plotted townships. The key will lie in the agility, adaptability and creativity of the leaders.

Who is leading? What is the style?
 Keep reflecting, Keep learning.

The reality of tomorrow’s business environment is that going forward, leaders will probably need Competitive intelligence in one hand and Corporate Warfare in the other.

KAK has one common ingredient: VUCA

From Cold War to COVID War being prepared is the key.

Volatility – Sentiment decides and sways buyer behavior. Interpret and restructure appropriately. Strategic leadership to use change as a catalyst.

Uncertainty – Political and Economic environment dramatically changes plans. Predictability and preparation for unforeseen circumstances.

Complexity – Legislative compliances prohibit new market entrants. Knowledge and expert advice regarding interdependence of variables, will help manoeuvre through the maze with ease.

Ambiguity – Realty being a state subject, laws, rules, taxes and understanding of the local environment across the entire life cycle of development. Additional understanding of availability of raw materials and talent. Cause and effect in-depth study and alternative evaluation. Innovative disruption to tide over.

The developer’s success in product development, sales and eventual completion relies on a thorough understanding of the above.

Professional leaders must exhibit preparedness, intervention, anticipation, flexibility and evolution. To swim through this exponential change, map stakeholders who make a difference.

Realty is dealing with
VUCA on Steroids.

A life lesson and my personal torch in life which ignites my path, this shloka from our timeless epic Mahabharata.

“ Karmanye vadikaraste.
Maafaleshu kadachanam.“

Believe in yourself. Sincerely do dutiful right actions. Focus on strategy, instead of the greed for results.

Stay safe. Stay home.

Dr Ananta is Senior Executive Director at Experion Developers, 100 % FDI real estate developer. She has spear headed challenging assignments of Executive Director -DLF, Chief Executive – Emaar MGF and the Country Head (India & Nepal) as Senior Director – International Business Development, Damac LLC . A TEDx speaker. A Science graduate from Miranda House Delhi , Masters in Literature, Education and Management and a Doctorate in Marketing Management. Digital marketing and social media Analytics from MIT Sloan Executive Education. A trained musician, dancer and author too . Sangeet Prabhakar in Hindustani Classical Vocal and Diploma in Guitar. Crowned Savvy Mrs India Mrs Achiever Gold -2019 . A pageant Queen crowned with 6 titles. Ananta is passionate about the safety and education of children and coaches entrepreneurs and executives.

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