Want to be a successful real estate broker? Become a panwala!

Myriad hues at the Indian panwala - Image: Jameel Ahmad 

We know. The moment you saw that topic, you thought, how bloody true! These days, even panwalas can show you a couple of properties, take you to the owner or his broker and get a property transaction done. But we are not getting there with this one. Dear broker/ builder, we assure you that you are going to be wiser by the time you finish reading this.

We let Kaushik, our leasing man, lead you into the story and then, provide you the real estate success tips alongside. Over to Kaushik then.

The Indian panwala (for people from outside India reading this, a panwala is a point, that could vary from a 250 Sq ft store to a 20 Sq ft wooden platform on the sidewalk where a happy chap sits down all day and sells cigarettes, candies and dishes out betel leaf concoctions. This concoction, known as a paan, is chewed by us Indians with great enthusiasm. Some panwalas have cult followings as well) is a talented marketing dude. This shop is often the daily meeting point for people in the neighbourhod and beyond. "Okay, I know that, but how is this making me a better real estate salesman?" You might wonder. Please read on. . .


Once in a while, post the working lunch, I walk out and buy myself a paan from a particular panwala near the office. It must also be noted here that competition and the fear of it is something that the panwala does not know. Stand at any crossroad in India and you will see 3 to 4 of these paan shops straight away. You would also find some stretches with 8 or 10 of them in a row. Each one selling exactly the same things, at exactly the same price and growing in business volumes each day. The only difference you could find is their affiliation to the cold drink companies. Some will sell Pepsi products and others, Coca Cola produces. And then, there will be some selling everything!

Back to this panwala, each time I would go to him and put in my special request (paans can be made in a million different ways), he would smile at me and inform me that it would be ready in 10 minutes.
Successful real estate sales Tip#1 - To be a successful real estate broker, you have to be a good listener. Home buyers have varied needs. They are buying a 'once in a lifetime' asset in most cases. If you fudge up the requirement brief, it will result in dissatisfaction for your customer and no money in the bank for you. So engross yourself in listening. Don't just listen. Feel.

This 10 minute waiting period I had would be spent in watching the world go by. When you drive or you walk, you are often engrossed in your own self for safe passage. But at the panwala's shop, 10 minutes would mean observing different kinds of people from different walks of life. From labourers without work to bus conductors in a hurry to rich businessmen, I had 10 minutes to absorb, analyse and put so many things in perspective. Sometimes, I even got the hottest property trends and sky rocketing stock market tips. It is another matter that I do not have money for either!
Successful real estate sales Tip#2 - Each day, take some time out to plan. Prepare a 'to do' for the day. The calls you have to make, the site visits you have to confirm and customer queries you have to resolve. Remember this. If you are living in hell, you cannot sell a heavenly dream. So step aside for a while and prepare. That is the key to sales!

10 minutes gone and the paan I had ordered would be served to me, exactly the way I wanted it. However, a 10 minute waiting period is a long time. So, the third time he did this to me, I got a little annoyed and raised my voice.
"Hey, why do you make me wait for 10 minutes? Your hands are not full and it just takes a minute to get a paan finished", I asked him.
"Yes sir, I know it takes just a minute but I give you your 10 minutes of free time. 10 whole minutes when you can step aside and observe the world. 10 minutes of learning, variety and entertainment", he said, adding a genuine laugh.
Man, I was floored. Here was an ordinary panwala who played me, analysed me, generated an internal report on me and sold me what I wanted most. Now, I cross 6 paan shops to reach his. And I even know a bit about the way of life back at his village in Uttar Pradesh. :-)
Successful real estate sales Tip#3 - Engage your prospect. Each prospect is different and unique. So are you. Connect with your prospect. Understand their needs. Understand the fact that each home sale for you involves the most difficult decision making for your customer. Respect that. And when your prospect feels that you understand him and his unique home related needs, you get closer to signing the deal!

My mother once told me that chewing tobacco and smoking are both seriously injurious to health. Bear that in mind.

Cheers!

Related Articles:

1. Everything you need to know to lease a multiplex

2. 11 things that can help you close a real estate sale

3. 17 differences between an average real estate broker and a great real estate broker