Saturday, 15 December 2012

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

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. 

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