Mover and Shaker of Real Estate
Nikhil Ballal
Buying a house is one of the most major decision for everyone. Not that it involves a huge financial onus but also symbolises sense of achievement, ownership, stability, happiness and of course togetherness. And in this process of buying, the person who has become a name to reckon with is Mr. Amit Wadhwani. In a crystal-clear and thought provoking interview he reveals the nuances and nitty-gritty’s of buying a home to Nikhil Ballal, executive editor of KYT.
Having started his career as a flight cabin crew, he has soared at a new high where seldom anyone working in this sector has reached in so short time. How did he attain this altitude? was the most natural question we posed at the beginning of the interview. Mr Wadhwani’s answer was crystal clear. He attributed his success to the wings of sincerity and hard work. Serving only 300 odd travellers in air-ship didn’t excite him much; he wanted to fly higher than that. So, he quit a lucrative job and embarked upon a journey where his co-passenger was Mr. Passion!
Today at the age of 32, he basks in glory as premier of real estate industry of Mumbai. He has accomplished dreams of more than 50,000 home seekers and plans to come up with his IPO in 2020. Mr. Wadhwani is busting with confidence and this one more ambitious dream is apparently very well in his reach.
The beginning
Mr. Amit’s Sai Estate consultants had a very humble beginning in late 2000. He started off as a small time broker in Chembur area. “Only assets which I had then were an I20 Hyundai car which was bought on EMI and a Bluetooth device”, admits Mr. Amit. “As I risked to leave a job of monthly salary of one lakh my first target was to attain that figure every month”, adds Mr. Amit.
Unique style of functioning
Observers in the industry are unanimous over Mr. Wadhwani’s style of functioning which they feel is very professional and helps create a win-win situation for the buyer as well as the developer. His command over English gives him a cutting edge to break the ice with his customers and perhaps that is the reason why even in the days of recession, Sai estate consultants is going great guns.
“The broker-builder relations have always been there and the buyers heavily depend on those who give them a deal that suits their pockets. We identified the unexplored areas giving more prominence to the buyers view point as we always believe that customer is the king. Having gained confidence of the buyers who is more quick in making his calculations than us, the decision making process becomes more easy with the transparency that we managed to keep”, notes Mr. Wadhwani.
He added after all it is a question of big and hard money involved and one must respect the sentiments of the buyer in the process.
Having imbibed all the qualities of the service oriented vocation that he was at the outset of his career, they helped him to strike a chord with his customers immediately. A small example of providing a piece of tissue paper to wipe off the inks smeared on the thumb during the process of registration could bring a smile on the face of customer. Mr. Wadhwani is careful about finer points of his trade which has helped him win their hearts and consolidate his position.
Customer is the king!
“For us each customer is different varying on different counts that go in the process of buying a house. The customer needs, budget, risk taking aptitude, social status, psychological perceptions, family backgrounds etc vary from person to person and we at Sai Estate consultants give lot of prominence to these aspects which eventually freeze the deal. It is a long drawn process and we do not rush to the final decision before all the queries are looked into. The customer finally gets a feeling that they are confiding with someone who is really near and worthy of trusting” explained Mr. Wadhwani. Also good rapport with his sub-brokers is the key to his success.
Scope of Work
We are more interested in consumers than developers. Currently, 54 developers are associated with us and we are marketing 308 projects in MMR region. We give value added services to consumers and are currently selling 1000 units every month”, shares Mr. Amit. He further says that we have come across so many home seekers that there may be hardly any problem or query for which our team has no solution! For us customer security tops our priority therefore all our properties are RERA verified”, beams Mr.Amit.
Employees are backbone
“In 2012, we were a team of only 25 today we are a team of about 200 which also comprises IITians and IIM grads. We have roped in the services of the best people from the industry. Former CMO of giant wealth Management Company is heading our operations as CEO. Our employees are from different backgrounds having brought along with them the nuances of various trades which ultimately help us in understanding the customers effectively. Our team is tirelessly working to assist home buyers to meet their requirements and at best prices” tells Mr. Amit.
Sai Estate Consultants strongly promotes affordable housing. Mr. Wadhwani believes that a home is an ultimate dream and symbol of achievement for the buyer. Selling property to the genuine buyer than an investor interests Mr. Wadhwani more.
Current Market Scenario
When asked about today’s reality market scenario, he says that we have to accept that there is a correction. Every market has a correction; be it gold, stock market or any other market. One who accepts this realty business is good for him. If gold or stock can go up and down then why can’t real estate after all it is also a commodity. Some people say market is slow but according to us that is not the real picture. “If the market is slow then how we are able to sell 250 units a week”, questions Mr. Amit. He actually paints a rosy picture when everyone is crying over the adversities.
“I strongly believe you can never sell real estate to anyone. It is not a jacket, saree or shoes that one will buy easily. A genuine buyer will buy a home anyhow. The skill lies in giving him the best options. Actual need cannot be leveraged from the investment point of view. They are two different issues and have to be clearly understood while negotiating with customers”, opined Mr. Wadhwani.
“But believe me real estate doesn’t require aggressive marketing or constant follow ups. It always works on pull and not push factor”, states Mr. Amit.
Success Mantra
His success mantra is- Watch what you eat, drink and talk. Discipline normally is illusive in the real estate business keeping deadlines and living up to the commitments are seldom given importance. Mr. Wadhwani has changed this scenario by himself leading from the front.
Think local act Global
With world becoming a global village, the real estate business has acquired a huge canvas with international players making their presence felt. Hence, Sai Estate Consultants too has plans for a global reach. Mr. Amit Wadhwani`s vision in that direction will chart a way to reach over 30 destinations spread over different continents. Impeccable is the only word which will describe this `real`life hero.