June 14, 2020

Light the fire inside your soul

By Crea India

A candle can only illuminate its world by allowing itself to be set on fire. Just as a candle is useless until you light it, so is a man useless until the fire inside his soul is lit. A candle in your hand is better than a star in the sky.
Samir Arora
My Dear Realtors,

Stardom comes to you naturally and all of you are Stars in the Sky of Real Estate Skyscrapers. Some shine bigger than others but all of you are the Stars of this Galaxy called Real Estate Industry. Each one of you has learnt that when you light your soul and burn like a candle, you illuminate the world around you. Your associations are are a sum of the light you emit together.

Questions galore in everyone's mind at the moment, when the World and our beloved country India is undergoing a lock down due to the Global Pandemic called COVID-19. I have received many a calls and texts, all seeking advise on one query, " What does the future hold for us ?" and seeking a reply that can comfort all.

I consolidated my thoughts and here are some ( long post warning but should benefit all Realtors and Real Estate Industry Professionals and maybe even Non Industry professionals ) thoughts encapsulated together and I hope it helps.

1. This Too Shall Pass.

Yes, it will bring the difficulties that an Economic downturn Virus brings post a pandemic, but This too shall pass. The first and foremost, in fact the only priority at the moment is to ensure that You and your loved ones remain safe and keep everyone else safe by Staying Home, Washing Hands and taking all precautions being told to us by by the Government Authorities and Medical Professionals. It is the one opportunity in life to serve the Nation and all its Citizens by just staying Home and the one time when all of us must score 100/100 in the test of testing times.

2. Difficult Times bring Opportunities Galore

Businesses and Entrepreneurs have success stories that catapulted them to a growth path post an economic downturn have one common denominator. They were prepared and they smelt the opportunity. This is a golden time to hone your skills, learn and master the art of what you feared. It may be Digital Marketing, Social Media Marketing. AI, Documentation, Real Estate domain knowledge, Marketing skills, New technologies, etc. This is the time to strengthen your domain expertise and add new skills by fighting the demons that were not your domain. Residential Realtors can learn more about Commercial Real Estate and vice versa and Local City Operators can use the time to Network across Cities to be prepared for an all India business or multi city business. Key is, Identify, Learn, Master and Prepare yourself for Tomorrow.

3. Do NOT worry about the Macros. Focus on the Micros

The Financial markets will tumble. The large Corporate will take time to bounce back. There will be Job losses. There will be instability for a bit. In this immediate aftermath period, do not forget, the whole world will align to the new Reality. Our Industry Realty is always aligned to the existing Reality. Rentals will move. End Users will buy Homes as Home post this phase will be the most valued possession. Investors will probably wait it out. The prices will in fact go up as Cost of Construction and Finance will go up. The Sales will be lower for those who do not re orient. The Sales will Zoom for those who are prepared and align to the New Normal. Low value Housing will be high demand. Commercial Real Estate will cool a bit but will align in multi investor pattern. All in All, Every client will know that It will be a good time to Invest. As always, some will miss the boat. Identifying the right property and right client and being an Advisory will be the new Norm. Relationship Marketing will Win, Hands down.

4. Cross Selling via Collaborations and New Domains

Collaborations and Cross selling Products, Projects across Territories will be the new normal. Your Competitor will be your best collaborator. Work on building the ideas and relationship now and devise a strategy to launch yourself across domains already penned earlier. Collaboration, Not Competition is the way forward. Complementing partners across domains with different skill sets and domain specializations will be the Key to Success.

5. Learn Swimming, yet again.

Yes, Learn to Swim in the Economic scenario, yet again. Post the lock down and expected staggered opening of the markets, For the first 3 months, learn to splash and keep afloat by doing Basics. Do not attempt to gun for Olympic Gold straightaway. Identify opportunities, use your learning and build on it. Next 3 months, focus on speed along with the basics by going out to a wider market with a strategy in place. Practice and Learn quickly from the feedback from the Coaches ( Clients ). Implement the changes.
6 months later, Go for the Gold. You will emerge a Champ. A Champ that each one of us in the Industry will be proud of.

As of now focus on the Championship of Life.
Stay Positive but Test Negative at any point of time.
As our Honourable PM said, "Jaan hai to Jahan hai"

All Real Estate Agents/Brokers , Join a city/state Real Estate Association and via the local association join National Association of Realtors-India. Unity is Strength and we all need to be Stronger than ever before. All Realtors of CREA (I) and NAR-INDIA, you are the Pride of the Industry and Together, I am sure, We will overcome.
Samir Arora