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 real 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. ’
Realty was about plots, society schemes, serpentine queues, forms, Govt auctions, lotteries, long waits for allotments etc. More demand, average quality, limited supply, rural to urban migration, joint to the 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 an 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. The 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.
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 the Bats theme and presently battling with the 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, and 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, or 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 a pressure cooker whistle, extra expressive pets or ricochets from loving kids, created a need for more space and an 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 in 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 life on Google meet, Zoom, WebEx, MS Teams, FB and even on facetime. “
Today, is the best time to buy, seriously. AAJ
“Rainbow Logic of Seven.
Pot of Gold is Earth, not from Heaven .”
“ Wake me up before, you go-go.
Take it up before, the builder says no-no. “
As the world gradually unlocks in the absence of vaccines and cures, 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 the 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 unlocked 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 on one hand and Corporate Warfare on the other.
From Cold War to COVID War being prepared is the key.
Volatility – Sentiment decides and sways buyer behaviour. Interpret and restructure appropriately. Strategic leadership uses 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 the 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 the 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 rely 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.
A life lesson and my torch in life which ignites my path, this shloka from our timeless epic Mahabharata.
“ Karmanye vadikaraste.
Believe in yourself. Sincerely do dutiful right actions. Focus on strategy, instead of greed for results.
Stay safe. Stay home.