NAME OF THE COMPANY: - INDIABULLS REAL ESTAE LIMITED

SUBMITTED BY:- VINAY GUPTA

SEC:- A

ROLL NO:- 41

Salesperson Name: - Rahul Malhotra

Submitted To:- Monica mam

ID CARD

VISITING CARD

OVERVIEWIndiabulls Real Estate is one of the largest Real Estate Company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development. It has 31 ongoing projects totaling 72.86 million square feet, 2588 acres of SEZ development and additional land bank of 1001.43 acres. Each project bears a stamp of thoughtful solutions and highest quality. The company has partnered with specialists from India and abroad working on various aspects including design, landscaping, engineering and structural strength of each of the developments. It further employs most Advanced construction equipments and technologies that guarantees on time delivery like advanced jump start technology, advanced logistics and vertical transportation systems, wind tunnel engineering as also international quality construction grade steel and the highest strength M70 and M80 concrete. The company has more than 90% of its portfolio in Mumbai, Delhi (NCR) and Chennai markets with Rs. 4,000 crore of land bought through government auctions. The main focus of Indiabulls Real Estate is construction and development of properties, Project management, Investment advisory and construction services. Indiabulls Real Estate has delivered a record 3.3 million sq ft developed space valued at $ 1.75 billion (within 4 years of inception). This is fastest and largest delivery in value terms by any Indian real estate developer in the same time period. It has partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate in the country, is listed on the Mumbai, Luxembourg and Singapore Stock Exchange and has been assigned 'A+' rating.

IN FOCUS

Indiabulls supports Money life Foundation in Empowering Investors"Money life Foundation" in collaboration with Indiabulls, recently organized an 'Investor, Empower Yourself' seminar, which was held at the lush Town & Country Club at New Gurgaon, in the National Capital Region (NCR), on Saturday, 7th May 2011. This was the first occasion for Money life Foundation to venture into

other territories outside Maharashtra. Indiabulls played a major role in helping this event happen successfully.The event witnessed over 300 attendees not only from Gurgaon but also from other parts of National Capital Region (NCR), Delhi, Allahabad, Ludhiana, Chandigarh & other cities from northern region of India. The venue was fully packed with eager & curious investors. "Money life Foundation" expressed its gratitude towards helpful team of Indiabulls led by Mr. Gagan Banga, CEO - Indiabulls Housing Finance Ltd, for making this event such a huge success.

Main Objects Of The CompanyThe main objects to be pursued by the Company on its incorporation are:1. To hold investments in various step-down subsidiaries for investing, acquiring, holding, purchasing or procuring equity shares, debentures, bonds, mortgages, obligations, securities of any kind issued or guaranteed by our Company.2. To provide financial consultancy services; to provide investment advisory services on the internet or otherwise; provide financial consultancy in the area of personal and corporate finance; publish books and CD ROMs and any other information related to the above.3. To conduct the business of sale, purchase, distribution and transfer of shares, debts, instruments and hybrid financial instruments and to perform all related, incidental, ancillary and allied services.4. To conduct depository participant services; to conduct de-materialization and re-materialization of shares; set up depository participant centers at various regions in India and to perform all related, incidental, ancillary and allied services.5. To receive funds, deposits and investments from the public, Government agencies, financial institutions and corporate bodies; grant advances and loans; conduct advisory services related to banking activities, project financing, funding of mergers and acquisition activities; fund management and activities related to money market operations.6. To carry on the business of portfolio management services, investment advisory services; custodial services; asset management services; leasing and hire purchase; mutual fund services and to act as brokers of real estate and financial instruments.7. To carry on the business of financing; provide lease and hire purchase services; to provide consultancy in the area of lease and hire purchase financing.8. To operate mutual funds; receive funds from investors; equity or debt instrument research activity instrument in debt and/or equity instruments.

INDIABULLS REAL ESTATE PRODUCTS(Projects)Residential ProjectsIndiabulls Real Estate has a pan-India presence with premium yet affordable housing projects spread across cities of Gurgaon, Ahmedabad, Vizag, Hyderabad and Madurai. Indiabulls Greens in Panvel and Chennai are the Green Living integrated townships initiated by the company.

Commercial ProjectsIndiabulls Real Estate commercial development includes high end commercial projects like One Indiabulls Centre and Indiabulls Finance Centre in Mumbai, Indiabulls Mint an integrated commercial and retail complex at Thane and company's flagship retail offering Mega All at Vadodra, Panvel and Jodhpur.

SEZ ProjectsIndiabulls Real Estate integrated special economic zone developments have been designed to offer world class amenities and cutting edge infrastructure. Indiabulls Technology Park, Gurgaon is dedicated to IT/ITES businesses while Indiabulls Neocity at Nashik is the multi product SEZ. 

INDIABULLS REAL ESTATE CUSTOMERS We majorly focus on salaried class as we sell broker free properties Certain bracket of investors basically operating outside India Age Group – 26 & above

MY OBSERVATION WHEN I WAS WITH REALESTATE SALES PERSON…….

Real estate salesperson  arranges the sale of land, residential properties (such as houses and flats), businesses, factories, shops and farms on behalf of the owners.

He also Arranges Site visits of different clients with his boss by fixing a common slot between his boss and client so that they can manage their other work for the day.

Real estate salespeople often work irregular hours including weekends. This occupation involves a great deal of contact with the public and with associated professionals, such as builders, valuers, solicitors, conveyance’s, and banking and local government personnel.

He also estimate the current market price and suggest a reserve or minimum selling price by preparing a Comparative Market Analysis (CMA)

Real Estate Salesperson list details of land or buildings for sale and arrange the advertising of properties assess buyers' needs and locate properties for their consideration.

He also gives advice on merits of properties and the terms of sale & arrange legal agreements between vendors and buyers with proper knowledge of  finance and insurance.

QUESTIONS Q.1 How do you prepare for a sales call?

A.1 1. Preparation Prior to Sales Call  Research the account prior to the call? Learn something about the person and their business before the meeting? Send an outline of the agenda to the client before the meeting?

2. Qualifying Find out who the decision-makers are by asking "Who else besides yourself

might be involved in the decision-making process?" Ask what process they normally go through when considering a new

vendor? Find out how and why they made the decision for their current product or

service

4. Surveying Ask open-ended questions (who, what, where, when, why, how, how much,

tell me about it, describe for me)? Ask about the corporate structure? Ask about the prospect's role at the company? Ask what's important to them? Ask what's interesting to them and then focus on that? Ask what risks they perceive? Ask how we can help solve their problems?

Q.2 What is required to be done for optimum prospecting?A.2 In real estate basically the simple way is to Find potential property broker which is already operating on a large scale or doing good developers projects. But when the property is broker free then apart from calling Main and potential Leads are generated by carrying the Road show activities in different location. For example :- If we have our projects in Noida then Suitable locations will be patparganj , Mayur vihar , Atta market etc. In these places people will stop and

listen to you rather in west delhi if you put up a canopy people will say I don’t want to go so far. So mixed responses we get.

`Q.3 How do you prepare for Sales presentation? A.3 Firstly they do some Mock presentations by taking his senior to there presentation and evaluate them as per there performance. They also Record there presentation to see where they are lacking before making final sales presentation. After research process is complete they Tailor there presentation to short and concise to make it the best and time efficient. Tailoring the presentation also involves there efforts to create impact on Audience wheather they are premium segment or Mid segment.

Q.4. In what ways Non verbal communication plays a part in sales?A.4 They listen to their customers to discover their needs help them suggest appropriate products or services to meet those needs.

When I spoke to salesperson He said that you should:-

focus your full attention on your customer briefly summarizes your understanding of what your customer has said take notes if necessary Note your customer's non-verbal cues - are they eager, reluctant, impatient? Use appropriate, well-timed probing questions and summary confirmation

questions.He suggested some positive and negative examples of non-verbal cues which thet generally notice to modify their sales pitch:

Facial expressions

bad - wrinkling the nose, furrowing the brow or rolling the eyes good - smiling, raised eyebrows, relaxed mouthEye contact

bad - avoiding your customer or looking outside your sales space good - looking back to your customer's face and at your products

Smile

bad - closed, firm or expressionless mouth good - smiling or relaxed mouth

Q.5. How do you Handle Objections?A.5. He said that when they are over with the communication then Objections should be there with the clients otherwise it shows that client has not taken any interest in your project. Basically we need to know that what is bothering him and by listening to objections we pick up some clues so that we can explore it by giving justifications. For ex:- when person is interested in residential flat in noida and after whole conversation he said in a dull voice or he murmers that I can even go to noida extension so at that point don’t explain another property because then he will be confused stick to your points what you have delievered and give some facts figures or show him some newspaper cuttings etc. In real estate we often describe locations by Map which interest the clients that yes he is fully equipped with his facts. One more thing he said was bring the prospect back into the flow of the appointment. If you're in the middle of your presentation when the prospect raises his objection, then once you've answered it quickly summarize what you'd been talking about before you move on.

Q.6. What negotiation strategy was used?A.6. Negotiations can be different at different point because if the prospect is really in need to buy a residential apartment and your pitch is perfect with availing discounts then it’s a win-win situation. Sometimes prospect is very tough to crack as he also carries some information about that region best way to explain is real life incident of salesperson Example:-

Once he met a customer who was really big investor and who was looking to buy a property in Mahagun one of the major developer in real estate operating in noida. When he met that prospect his conversation ended in 7 to 8 minutes and then objections started . Propsect was saying all the amenities what you are offering mahagun is also offering so why should I invest in your project he said that moment you write a cheque property is appreciated by 5 lacs . prospect didn’t believe that . 2nd point he says after writing a cheque and 40% timely payment I will give you gold coin for 1 % of Base sale price by listening to this prospect made a cheque and after all the rewards salesperson still managed to extract his

commission because BSP was 3900 psf(per sq.ft) but after having interaction he started with 4200psf then lowered it down to 4000psf with gold coin scheme and able to make a margin of 100 psf that was his commission.

Here he used SPIN technique

CHALLENGESWhile performing there work with due diligence some of the challenges faced by Real estate salesperson :-

Most of the times when salesperson do the calling he has to bear some of the abusive taunts or sayings from the client. In todays Scenario when you adjust your Sales pitch for selling a property then you should be patient enough to handle the clients as 98% people out there are frustrated with the word P-R-O-P-E-R-T-Y.

He has to choose a location where he can put up a Canopy for some selling benefits as company cost is there and if location is not adequate and if in case u didn’t got any leads then be ready for some salary deduction.

Clients on the other side when fix up some time for meeting and after regular follow ups when that day comes then he says “I am little occupied can we postpone it for next week”. A lot of delays he has to face to get one good LEAD.

At weekends he is not free as he has to visit for cold calling to some location and by evening he has to mail Excel sheet to boss so as to let him know that he is working on weekends also.

Salesperson ‘s time is not fixed as He told me that sometimes when there is monthly target that you have to do 20 meetings in one

month and out of that there should be 8 site visits then if you fail to convert them at last company will Hold your salary and release it when you meet the targets.

CONCLUSIONAfter spending a whole day with Real estate salesperson I came to conclusion that salesman job is very tough. It really requires higher level of patience and short tempered person can’t survive. Apart from this they should have excellent knowledge about their industry, their products and competitor’s product and it is very difficult to convince a customer if the product is Property because it is very difficult to extract some 25 lacs to 1cr or more for investment because when money is invested they want some returns so according to that they prepare facts and figures to make them comfortable that what you have given they are in Safe hands.

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