Overall the market sentiments in the country, both domestic and international institutional investors are holding aggressive position on India realty. In Q1 2018, investment into Indian housing industry has crossed over INR 17,000 crores and growing to 15% over the years. This further reinforces the confidence on the long term potential of the sector. As there is a potential bounce back associated with Indian realty, more investors are piling into the sector.
Despite the short term pain induced due to RERA and demonetization, the market is poised for the long term gains due to the policy overhaul. RERA and demonetization have been emboldened steps towards bringing in more structure, organization, and transparency in the market. This is playing a crucial role towards restoring confidence on the market. Many buyers, who have been sitting on the fences, have now started pivoting back to the realty world.
Founded in 2014, 360 Realtors is the largest transactional player in Indian primary residential sales. Till date it has sold over 10,000 individual units, and its accomplishments are yet to be matched in the organized primary residential space. The organization has been bridging the gap by offering unbiased advisory and handholding the client through every step in order to ensure a hassle free and memorable home buying experience.
In a nutshell, 360 Realtors is the pioneer in the professional real estate consulting space, and are greatly credited for bringing in transparency and client centric practices to the Indian real estate canvas. Apart from its real estate transactional and home loan disbursal services, it also offer numerous value added services such as FSI Consulting, Legal Advisory, Vaastu Advisory, and Portfolio Management. Apart from its relentless drive and unrivalled dominance, 360 Realtors is also known for its stellar reputation in Ethics, Honesty, and Reliability. It boasts the lowest cancellation rates in the industry. Around 30-35% of its new clients are generally referred from its previous ones that further testify the strong positioning they hold amongst its client base.
A Serial Entrepreneur of 360 Realtors
An experienced entrepreneur with a demonstrated history of running successful businesses in varied segments, Ankit Kansal is the Co- Founder and Managing Director at 360 Realtors. Kansal has owned and managed numerous businesses pertaining to international trade, turnkey interior design solutions, and export. Initially Kansal was not directly involved into the real estate business but was a strategic investor. The experience helped him to understand the existing gap in the intermediary real estate transaction space as well as the tremendous underlying potential in the primary residential space.
Later in 2014, Kansal started 360 Realtors as an Online to Offline (O2O) model that was the next evolution in property search and buying business. The tech enabled digitized curated marketplace experience was augmented with the help of a powerful ground sales force and property consultants to help buyers assist throughout the home ownership cycle. With 360 realtors, Kansal ideated and actualized the concept of professional real estate consulting that highlighted the importance of customer convenience in Indian realty.
Achievements and Awards
360 Realtors high increase in digits has been a testimony to the exponential growth curves that have traversed in the recent years. It has spread its presence in almost forty cities across nine countries with their sales force of over 750. In order to tap into the lucrative NRI market, it has been relentlessly driving into various international markets such as UAE, Qatar, KSA, Singapore, and much more. Currently the company works with 350+ developers nationwide. Having done more than 10,000+ transactions since inception, it serves a huge family of happy customers and 1000+ employees. In FY 2017-2018, 360 Realtors have crossed the sales of over INR 2,500 Crores.
360 Realtors have achieved 312 % YOY growth in 2017-2018. Testimony to its success is also the fact that the company have been conferred with over 40 real estate awards and industry awards which includes, ‘The Realty India Award’ in May 2017, ‘Brand Impact Award’ in March 2016, and the ‘Real Estate Consultant’ of the year in 2015.
Overcoming the Hurdles by Following the Steep Growth Curves
Due to the unorganized nature of the real estate, it has faced anticipating challenges since the beginning. It also encountered multiple challenges pertaining to human capital acquisition, sourcing the right deal, implementing an effective ERP module, and much more. However, 360 Realtors knew that obstacles would be the foreground to build its ecosystem, business values, and generate opportunities for sustainable growth.
Following the steep growth curves, it required quality human capital at an unprecedented pace. To manage the same, it has kept no stone unturned in developing an organizational culture that was backed by merit driven growth, transparency, and state of the art training facilities. It also encouraged higher studies and certifications for its workforce, a practice nearly unheard in the realty space. Consequently, today 360 Realtors is boasted as one of the lowest attrition rates in industry.
At the technology front when it started off to get an integrated ERP, that can incorporate sales, marketing, operations, and CRM functions. To overcome this, it has created the solution in house.
Cutting Edge Real Estate Consulting Services
Although real estate advisory is a highly competitive space, it is fragmented as the market has been mostly dominated by small and unprofessional brokers. As an organized entity it is bringing the concept of professional real estate consulting in practice. The cornerstone offerings involve the cutting edge technologies and exhaustive analytics to help buyers identify the right properties as per their requirements.
360 Realtors technology nucleus is augmented with the massive on ground sales force and a prolific CRM team. Its sales force help individual clients with site visits, property evaluation, mapping of requirements, zero down on the final property, and negotiation etc. Likewise, CRM team helps in offering transactional and post purchase sales to offer a hassle free experience to the client.
Developer Due Diligence:
It is very cognizant of the developers that it partner with. It has a stringent selection process in place which it keeps reviewing from time to time. It also works with the reputed developers, who are customer centric, known for timely delivery, and keeps its promise of quality delivery. Likewise, it partner for saleable projects that have strong underlying demand due to location, developer’s credibility, payment plan or combination of all.
Unbiased data driven consultation:
Unbiased insights and data driven advisory is the cornerstone of 360 Realtors consulting process. To enable its clients to take the right decision, it captures innumerable data points including developer’s credibility, developer’s track record, location analysis, supply-demand dynamics, capital appreciation projection, rental returns, amenity check, infrastructure potential, and much more. Through the use of powerful algorithms along with the attractive and user friendly interface, it enables users to retrieve projects that best fit in to their requirements.
On ground sales team:
360 Realtors powerful ground presence compliments its technological expertise and brings in the required human touch that is essential for high involvement investment such as real estate. With every individual client a dedicated relationship manager & sales force is assigned that can help with the property search, identification, and final selection. The process requires iterations of brainstorming, client requirement mapping, and site visits to eventually zero down to the best-fit property. A dedicated support in the form of a relationship managers, that are seasoned real experts streamlines and smoothens the overall sales process and offers a convenient experience to the buyers.
360 degree transactional support through tech enabled CRM:
Global Response Centre (GRC) leverages some of the most cutting edge technologies, which are used to effectively map a client’s experience with them from first interaction. Every interaction with a client is mapped to ensure timely engagement with respective departmental representatives like pre-sales, customer support, site/developer representative, etc. This is crucial in nurturing trust between them and the home buyers, and can blossom into lifelong association.
Advising the Young Entrepreneurs
Ankit mentions “Firstly, as a young entrepreneur, a person should have clarity in terms of what exactly he is trying to solve. In the entire ecosystem of his proposed industry, as a person he should also know how and where does he fit in, along with what exact value addition he is going to introduce.”
Secondly, Ankit suggests his budding entrepreneurs to take special focus on building the right business practices and value system. And to give additional weight to integrity, ethics, and client focus. According to him, a strong customer centric approach needs to be ingrained into the entire operational cycle. There will be hiccups and uncertainties, but Ankit advises to embrace them with advantage which can go a long way in cementing their unique positioning and help them stand apart from their peers.
Unfolding the Future of 360 Realtors
In an evolving industry dynamics, 360 Realtors will continue to consolidate its leadership role as a front runner in embracing latest technologies, innovations, marketing strategies, and business practices. It will set a benchmark for higher integrity and honesty in individual deals, be it with developers or end users.
360 Realtors solid fundamentals and stronghold in business will also help them to become a thought leader in the industry. So far the industry lacks a credible thought leader who can talk on behalf of numerous stakeholders involved- developers, contractors, end users, intermediaries etc. It also wishes to bridge the existing void and play a constructive role towards the welfare and progress of the entire industry.