The Real Estate industry in India ranks second after the Agriculture industry in terms of employment generation and GDP contribution (approx. 6.5%). At present, the Indian Real Estate Market is worth US$40-45billion and is expected to grow at an exponential rate in the coming years, with nearly 55-60% growth in retail real estate, 18-19% growth in residential real estate, and 20-22% in commercial real estate.
Although there are numerous Real Estate firms in India, only a few of them adhere to virtues such as transparency and trust. Agarwal Estates is one of such companies that believes in adding value to their customer’s lives. The company specializes in rental and leasing, buying and selling of all real estate (residential, commercial & land), loans, allied services, contracting, and interior design.
Based in Bangalore, Agarwal Estates is a professionally managed Real Estate firm that offers services in both residential as well as commercial property management, hassle free tenant management for owners, and rental guarantees for selected properties. The company provides services that are based on the unique requirements of its customers.
The company does not believe in advertising and gives credit to customer references for all of its business. Mr. Manoj Agarwal, Founder & Managing Director of Agarwal Estates says “Our customers are those who come to us knowing that they can expect to be served in a transparent and ethical manner and the service comes at a cost. We do not subsidize our services as we’re aware of the value we bring to the table. Those who are looking for a superior quality of service and trustworthy advice prefer us.”
Mr. Manoj Agarwal’s Dream Of Reforming Indian Real Estate
After returning from the US and during his last year in Cisco, Mr. Manoj Agarwal realized that there was a significant trust gap in the real estate market. Having an apartment in the US whilst also being an Indian consumer, he experienced the drastic difference between the two markets, in the terms of the trust factor and quality of service.
Despite being thousands of miles away from the US, he received the committed rent to his apartment on a regular basis. This made him highly aware of the fact that there is a huge contrast in the working and ethics of the two Real Estate markets.
The realization inspired him to launch Agarwal Estates, with the intent to redefine the trust and change the perception of the Indian Real Estate market. To ensure this, he focused on providing completely transparent services, empowering his customers by offering them knowledge, and following a process-driven approach through this company.
Agarwal Estates’ Challenges As A Value-Based Real Estate Company
Being a company that believes in premium trust and long-term relationships with its customers, acquiring the right kind of talent that believed in the same values was the biggest challenge.
For this sole reason, the core team of the company consists of leaders who have a background in medicine, IT, investment, and media, instead of the real estate sector. These leaders have been hired solely for their attitude and ethics towards work. The process-oriented approach of the company combined with its learning culture offers new members all the vital resources that help them gain better understanding and domain knowledge of the market. Owing to such advantages, the members gain a strategic edge over their counterparts in the industry.
Agarwal Estates’ Relentless Commitment Towards Value-Creation
The main reason why Agarwal Estates believes in the concept of zero marketing is because its primary goal is adding value to its clients’ lives. It focuses on developing an eco-system based on complete “transparency” with each of its clients.
To ensure the above goal, the company shares its “KEY-Knowledge Empowers You” with its team; a document exclusively designed to educate the customers at the enquiry stage itself. The motive behind sharing this document is to help the customers take better, informed decisions in accordance with their real estate requirements and transactions.
The team at Agarwal Estates believes in providing advice that is beneficial to the customer, even if it costs them their deal. Mr. Manoj said “This leads to a short-term perceived loss in revenues but builds strong long-term relationships with our customers, who in turn recommend us to their friends and acquaintances.”
The Brand’s Vision For The Future
When asked about the company’s plans for the coming years, Mr. Manoj said “Change is the only constant and the only way to keep pace with it is to continuously learn and evolve. A deep learning culture is imbibed in our team that allows us to not just keep pace with but be ahead of the curve as far as market trends go.”
Mr. Manoj aims to revolutionize India’s real estate market by bringing the focus back to value-creation and ethics. He feels its high time Indian real estate firms shift their priority from mere “paper-chasing” to the fostering of genuine, lasting relations with customers.
Mr. Agarwal’s Advice To Young Entrepreneurs
Advising young entrepreneurs to steer clear of “shortcuts”, Mr. Manoj Agarwal emphasises the importance of patience while building your brand. He says, “Believe in yourself and recognize that it takes time to build a brand and reputation in the market. There are no short cuts.”