Skip to main content

There is NO Road in the beginning for real estate agents in Patna

www.buysellrentpatna.in


What makes you enter the real estate business in Patna? Flexible hours, high earnings potential and getting out from behind a desk make a career in real estate in Patna enticing, but the reality is that it is a highly competitive, ruthless field and very much a sink or swim business. It is still not a very respectable profession; yet in evolving social circles of Patna; until and unless you have made it big. The BIG too is limited; if compared to global standards or even country’s standard. It feels we have not really started yet in Patna.

“Competition is so fierce these days in Patna in real estate business”. The irony is that this competition is not among organized business as such but because now everyone in Patna is a real estate agent with their leads and listings. Your milkman, driver, dhobi and even your maid! Professionalism seems an alien in this sector in Patna. In this mayhem the truth remains that 20 percent people are earning 80 percent and 80 percent people involved are earning only 20 percent.

Besides being part of an inherently unorganized and competitive industry, new budding real estate agents have lots of balls to keep in the air. They must learn the business, build their business and sustain themselves in the meantime. Now the question arises how to RISE in this business?

The first rule is to look long term as most people are looking it as quick buck route in Patna right now. Establishing a trusted reputation and developing a clientele are the keys to success in the business in the long run. In other words, building a BRAND based on services and trust.

When we are thinking long term, the biggest challenge is allowing enough time for the business to develop. “Build your business brick by brick with the dream of a great building”; needs to be the mantra and there are so many mistakes to make. You have to get to a point where people have confidence in you, and you have to be able to sustain yourself during that time.

Having realistic expectations is a must for new Realtors in Patna. It's essentially starting your own business, so you need to have some creativity, an entrepreneurial spirit, some business skills and the tenacity to stick with it through the lean times. It is not a business where anyone is going to be looking over your shoulder or telling you what is next. You're really on your own. You have to work really hard and stay focused, and you have to be willing to do things that aren't technically your job. You have to be willing to go the extra mile for your clients.

Reference is the greatest way to build this business in early years. The way to get referrals is:
You set yourself apart by offering good service.
You treat people honestly, fairly and exceptionally well and are available to them.
People remember good buying experiences, and they will refer you to their friends.

The biggest challenge for new Real Estate Agents in Patna is gaining the knowledge that comes with practical work experience, and that just takes time.

Entry into the real estate business in Patna is too easy. Survival in this business; is the real question mark. New property agents, needs to have realistic expectations about how long it take to get their business off the ground. The failure rates are therefore high. 

Comments

Popular posts from this blog

Naubatpur; an ace investment destination for land buyers in Patna

  If you want to put your money somewhere and forget about it, buying land in suburbs of Patna like Naubatpur could be the investment vehicle you’re looking for. Think about it: land is a long-term, tangible asset that  doesn’t  wear out and  doesn’t  depreciate. If you go into investing in land with the intent of holding  the right property for the long-term , it can make a lot more profits than any other investment asset class out there. Buildings can be replaced and demolished, whereas  land is a valuable and finite resource , with only limited quantities available. And Bihar has a population of 15 Crores and per capita income of Biharis are increasing in double digits. Land investing is for the patient, smart investor, someone who is willing to hold for the long-term or pass it on as a legacy. It’s for the investor who is looking ahead for 10 – 15 years. Land is a smart long-term hold, allowing you to win the benefits of rising values. Especially if you buy in an area like Naubat

5 TOP LOCATIONS TO INVEST IN LAND IN PATNA

  How to pick a desirable Investment location in Patna Real Estate? There are a lot of factors that are important when it comes to select a property to invest in Patna real estate. A great location is one of the most important factors. However, finding out whether a property in Patna has qualities that you are interested in and a great location suitable for investment; requires quite a bit of research and even search. It's important to recognize that the locals are an invaluable source of knowledge about any location for investment in Patna real estate . Just mention to someone in a local chai dukaan that you are looking to buy land in the area !! You'll find that people are more than willing to share knowledge and insights about that area. You will be told even about the number of transactions going on in recent times and even tentative prices prevailing in that area in that chai dukaan . Locals can give pointers as to the most profitable locations in Patna real estate.

WHAT IS THE MEANING OF “AFFORDABLE” FOR HOME BUYERS IN PATNA?

A   survey conducted by our company   on 100 flats’ buyers in Patna found that two out of every three homebuyer   in Patna   s ank in more than 50% of his total savings into the down-payment itself for purchase of flat in Patna .  Flats as investment vehicle is never attractive in Patna as rental yields are very low in Patna and property prices in Patna are elevated in many localities. The ‘ideal flat in Patna’ should provide the convenience without the compromises, be affordable and have great resale value. Since this is an elusive dream, home-buyers in Patna should focus on one or two items on their wish-list. It is important to find a good middle-ground between utility and affordability while buying property in Patna .  For a middle class resident of Patna, AFFORDABLE means property in Patna under the Rs 50 lakhs bracket.   Because the AFFORDABILITY measure = Ratio of EMI to Monthly income. A middle class family in Patna earns around Rs 75000/- monthly income ( ear