Over the last few years, the real estate industry has undergone many changes. These changes happened due to various factors such as RERA, Demonetization, and GST. Currently, Indian real estate is going through a flux which is helping it to transform into a more mature industry. Also, the fact can’t be ignored that it is facing a liquidity crisis and many builders are on the verge of closing down their businesses. Due to the downfall in Indian real estate, it is estimated that only 20-30% of builders will survive this phase. Further, to survive and improve the current situation, builders need to be more customer-oriented where they need to focus more on after-sale services. Going forward, post-sales service will play a crucial role in making a builder successful. Moreover, the customer relationship will be highly valued. Providing property management services and renting support to the buyers will become a must for all the developers.To further understand the insights about the real estate industry, our team of business APAC had recently interviewed with Ratnesh Upadhyay. He is amongst one of the exciting new age real estate industry leaders. Here are some of the extracts.
Lisa Home Solutions: Identifying the Wastage and Defects
Being a leader in the real estate industry, what are the current challenges you are facing? I have seen that the Indian real estate is full of wastage and defects. If you look at any part of the value chain, you will see a lot of wastage. Today, even the last part of the value chain, which is about the sales process and the post-sales services, is in a very bad situation. But today’s developers are waking up to the new changed environment. To overcome these drawbacks, we work closely with builders to help them identify this wastage and defects to enable them to build better products and sell them at higher profits. E,g: We see a lot of lead wastage in the sales process & even in the product design, we see zero or very little involvement of the customer class. At the stage of giving possession, recording defects, and rectifying them is near non-existent. This leads to dissatisfaction and poor customer experience.
A Journey of Problem Solver
What inspired you to start your journey in the Real Estate Industry? Well, I started my career as a software engineer with TechMahindra and worked there for 8 years. Working with TechMahindra helped me gaining a very good exposure to business processes and IT capabilities. While I was in the UK, I worked on the British Telecom project. My journey in real estate started when I and my friends who were staying in the UK were trying to fix the property renting and management problem. A lot of software working professionals had brought properties in Pune and we were facing a lot of problems while trying to rent them and manage them from abroad. As they say, if we see through the eyes of problem solvers, we can tackle the problem with ease. This problem led me to start Lisa Home Solutions to help people like us who were facing similar problems.
Unmatched Services at Best Price
Please tell us something about Lisa Home Solutions.Lisa Home Solutions is a company that was started by software professionals for software professionals. We understood the problem that one faces while dealing with local agents and service providers. Understanding the problem, we have developed a solution for Hassle-free renting. The unique feature about us is that we have built a complete In-house IT solution. We provide 5 service packages that are bundled based on the landlord’s need; From Core Renting Solutions for entry-level investors to Total Investor Solutions for Professional Investors. We provide unmatched services and at the best price.
Real Estate Focused Software Solution
What makes your company unique in the industry?We were amongst the first real estate companies who have developed and launched various real estate focused software solutions. We strive hard to deliver on 3 main fronts: Safety of Asset, Return on Investment & Hassle-free Management. We have developed some industry best-practices to serve our landlords and investors. Here are some of our unique solutions
We are the first online property management company established in 2005.
First to provide an online landlord account.
First to launch a property management app.
Launched realty360 a builder project management platform.
We launched realtycpapp to connect agents on an internal network.
We launched a vendor app for vendors who work for property management work.
First to launch a real estate agent collaboration platform.
We launched a real estate news app
Providing More Jobs and Better Services
Can you please enlighten us with your key roles and responsibilities as the founder of Lisa Home Solutions? As the CEO and Founder of the company, my key responsibility is to go on increasing the profit of the company and keep on improving customer service while improving margins. My other responsibilities are to increase the standard of property management services in Pune by removing the wastages and defects in the sector. We work closely with many real estate agents and even help them to improve their business processes. I believe that if all the stakeholders and players in Indian real estate work towards removing these problems from the real estate industry, we can contribute more towards Indian GDP and provide more jobs and better services to homeowners.
Keeping the Milestone Simple
Please tell us about your team culture of the company and also about your milestone for the year 2020? To begin with my team, I have a team of youngsters who believe in our vision of defect-free and wastage-free Indian Real Estate. I believe we are a bunch of energetic and friendly people who are trying to provide a service that is high quality, prompt, and friendly. Talking about milestones, we believe in keeping your milestone simple. We want to double our profits next year and also add a few more agents in our network ensuing both diversity and growth at the same time.
Quality of Manpower
What are the different challenges you and your company facing right now? How are you planning to overcome them? I believe challenges are part and parcel of every organization and what makes an organization different is how you deal with those challenges. In the service industry, the most common challenge is the quality of manpower. Builders and developers who believe in serving a quality service to its customers and are willing to put extra effort into providing better quality services in order to achieve it will make the difference in the industry. We are planning to overcome this via better training and rewards for the “Customer Champions”
Real Estate: The Biggest Investment Class
To end this insightful interview on a good note, we would like to share any message or suggestion to our readers from your side. I had an amazing time talking about the real estate industry. To end, I would like to say that Indian real estate is going to get better in the coming days. Real estate is still the biggest investment class all over the world. It has been always a decent investment class. Right now the sentiments and confidence are low but this is just a phase since India still has a lot of demand for housing. So if you get a good deal with a reputed developer, go ahead and buy it. Also, if you need assistance in managing and renting your premises, let us know.
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