Home work (HT)
When the rich and famous wish to buy a home, they simply pick up their 24K gold cell phones and call up their real estate consultants. They personally hop in and out of million dollar properties in a Maybach, consultant in tow. Some are quick with “this is what I was looking for” while others take months and even years to sign on the dotted line.
For 32-year-old Anand Narayanan, national director - Residential Agency, Knight Frank India, work means accompanying high net worth 
individuals (HNIs) on their house hunting spree, providing them with ‘a la carte’ services such as information on the new luxury properties in town and abroad, insights into area statistics, quick number crunching on future prospects, and even information on whether the said property proved lucky for its previous owner. An alumni of Institute for Technology and Management, Mumbai, and Loyola College, Chennai, Anand is a busy man all seven days a week. It is, therefore, not surprising that he ends up having breakfast with a well-known businessbaron on Saturday and dinner with another on Sunday to discuss homes. “Most clients one would service are available on weekends, so a working week may sometimes be unstructured or would be up seven days straight,” says Narayanan.
Ask him about why he decided to become a consultant and he tells you that he signed up with this real estate advisory because it gave him an opportunity to work with an array of clients across a wide spectrum of businesses and cater to their diverse needs. “I find this both challenging and intriguing as it requires one to consistently sharpen one’s skills and knowledge.”
Typically, real estate assets comprise 30 to 40 per cent of an HNI client’s wealth portfolio. “And believe me when I say this, when a top corporate honcho or business magnate signs up a large business deal, he may let it happen under the watchful eyes of his senior colleagues at work. But when it comes to picking up a home, he himself will roll up his/her sleeves and walk the mile with you. No wealth manager gets as up close and personal to a HNI as a real estate consultant does.”
Skills required for the job
The primary set of skills that are required in this field are the passion and drive to work with India’s demanding rich. Other skills may be akin to what one may need to have if one were working for a wealth management firm. The job is the same — advise and service HNIs and build a personal rapport with them. One would also consistently need to update oneself on the sector and be aware of the latest market trends as well as future market predictions. “This is very important as clients in the HNI space are very knowledgeable themselves. It is, therefore crucial to keep them enriched with precise and accurate information,” says Narayanan. It is also essential to have strong communication and advertising skills.
Growth prospects
The residential real estate broking sector at present is estimated to be worth about Rs 2,500 crores and is growing at a rate of approximately 20 to 25 per cent per annum. The opportunities in this sector are highly lucrative. So, to be working in this field s a wise decision, he says.
Author: HT Horizons
Date: 25th March, 2010
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