RE/MAX Mumbai Gujarat Maharashtra Newsletter June 2013

MGM NEWSLETTERJune - 2013

RE/MAX MGM Safal Profitaire, Block A, G5, Corporate Road, Opp. Prahladnagar Garden Road, Ahmedabad – 380 015 Phone : +91 99090 66999 Email: [email protected]

Management Speak:Dear Affiliates,

Month of June was full of events and updates in our region. That motivates me to write this section of newsletter.

I welcome all new associates in RE/MAX MGM Region who have joined in the month of June and wish them all the best and would like to tell them to take advantage of Trainings like initial BA Induction training, Online training being imparted every Wednesday and soon we are starting Class room training as demanded

by few of our associates and broker owners.

We have seen one of the worst natural calamities in Uttrakhand in form of heavy rains and floods resulting deaths hundreds of pilgrims and local people. RE/MAX MGM is deeply dis-turbed with this unfortunate event and pays homage to those have lost their lives and wishes speedy recovery to those who are injured. RE/MAX MGM wholeheartedly lauds the efforts by our military forces.

Mr. Sam Chopra, Chairman and founder of RE/MAX India visited two of our regions Pune and Ahmedabad and visited our brokers and discussed growth of RE/MAX network.

RE/MAX MGM is proud to announce that it will be hosting next RRR in Ahmedabad and you all will be intimated the itineraryand other relevant details at an appropriate time

A networking dinner was organized at Rajpath club where over 100 RE/MAX Associates took part and did networking with fellow associates and other brokers and prospects who were invited by various offices to have a feel of power of RE/MAX Network

RE/MAX MGM Congratulates Mr. Anand Choksi, Broker Owner of RE/MAX Advantage who moved into bigger office this month and Mr. Sam Chopra inaugurated new office and graced this occasion. Mr. Sam Chopra also visited new regional office of RE/MAX MGM first time and spent an evening with regional team discussing plan for next RRR which is going to be held in Ahmedabad as mentioned above.

I personally thank all our affiliates who have wished me on my birthday. Birthday wishes from affiliates are one of the most precious gifts for me.

Aashil Patel

Regional Director

RE/MAX Mumbai Gujarat Maharashtra

HigHLigHTS

» Management Speak

» RE/MAX India Chairman’s visit to Re-gional Office

» RE/MAX Advantage opening by Sam Chopra

» New Broker Associates

» Online Training in June

» Broker Owners’ Breakfast Meeting at RO

» BO & BA SPEAKS

» Real Estate Regulator Will Bring Oligop-oly in the Sector

» Why Mumbai real estate rates will con-tinue to be stable

» ShreyaMody’s interview in Estate World Magazine

» Events and Seminars

» Broker Office Activities

RE/MAX Mumbai gujarat Maharashtra

RE/MAX MuMbAi –GujARAt – MAhARAshtRA

Mr. Sam Chopra, Chairman of RE/MAX India visited RE/MAX Gujarat new Head Office.


RE/MAX Mumbai Gujarat Maharashtra registered 7new agents in the month of JUNE2013. RE/MAX MGM congratulates all these Broker Associates for joining RE/MAX and wishes them all the best.

RE/MAX Metro ShaktisinghRao

RE/MAX SYNERGIES Devansh Kothari

RE/MAX REALTY SOLUTIONS Rahul Jain

RE/MAX REALTY SOLUTIONS ParshvaVakharia

RE/MAX Ronisun Realty Sunil Mehta

RE/MAX Ronisun Realty Abhishek A. Khole

RE/MAX Ronisun Realty KishorRustumraoShinde

ONLINE TRAINING IN JUNE 2013

DATE SESSION NAME

5-Jun-13 How to Generate Referrals12-Jun-13 TDS on Immovable Property19-Jun-13 What it makes to be a peak producer?26-Jun-13 Building a dynamic database

Destination RE/MAX :

A seminar called ‘Destination RE/MAX was held at RE/MAX GUJARAT HQ wherein all details of starting and growing the real estate broking business of participants was shared. The participants showed keen interest in joining RE/MAX either as an associate or to start a franchise office.


RE/MAX MgM organizes Broker Owners Meet of gujarat:

The Broker Owners of RE/MAX Gujarat are invited twice in a month at Regional office over a breakfast meet early in the morning to discuss various issues and suggestions to grow the RE/MAX network. The first breakfast meet was organized on June 17th 2013 an all the broker owners attended the same and did a brainstorming on various points.

RE/MAX MGM organized a Networking Dinner at Rajpath Club for all its associates

A networking dinner was organized at Rajpath club where over 100 RE/MAX Associates took part and did networking with fellow associates and other brokers and prospects who were invited by various offices to have a feel of power of RE/MAX Network. A panel discussion of “Collaborate to Succeed” and few team building games played before dinner.


RE/MAX ADVANTAGE, Ahmedabad shifts operations to larger office. Mr. Sam Chopra, Chairman RE/MAX India inaugurates new office. Congratulations to Mr. Anand Choksi.

RE/MAX India Chairman, Sam Chopra visited RE/MAX Pune and met our broker owners and discussed various things with them.

MR. SAM’s visit was uniquely acknowledged by RE/MAX MGM by donating a Thicket of 5 Trees via http://www.grow-trees.com/


BO SPEAKS:

Vivek Singhwal– Broker OwnerRE/MAX HallMark Realty, Ahmedabad

Question: How good is Ahmedabad Market?

The Ahmedabad real estate market trend is changing, market which was previously largely driven by investors, now shift is happening toward serious buyers who need quality homes, whether the requirement is for 2 BHK, 3 BHK or a row house, allotted car parking is major deciding factor along with garden, children play area in the scheme.

No doubt the price may largely depending on area, location, construction quality and upcoming new market. But I would say that Ahmedabad market is now mature i.e. good quality properties options are available both in resale as well as with builders. More buyers are now seeking options from both resale and new properties, and do through comparison in price and available amenities, location, etc. This scenario make Real Estate agent role more important where he needs to explore best options to his clients.

BA SPEAKS:

RavindragawdeBroker Associate, RE/MAX Minerva, Powai, Mumbai

Question: How can builder collaborate with agents more effectively?

Should I open my doors to work with Realtors, or not?Most builders have asked that question, and many have found good reason to build working relationships with the real estate community. For Realtors, selling new homes is easier, is more beneficial in terms of time usage, and pays well. But a lot of Realtors are not familiar with the process. Builders on the other hand have been reluctant to use Realtors, believing that they’ll lose control of the sales process or that the Realtor will come in with their own agenda.

Since you can’t trust what you don’t know, both builders and Realtors should make it a point to learn from each other’s perspective and develop a keen working relationship that can be highly beneficial for both parties.Since times are tough and buyers are few, builders need all the help they can get to find new buyers. So developing relationships with Realtors who can find and steer more buyers your way is important. Why, though, should Realtors give serious attention to selling new homes? One reason is to save time.

When a Realtor brings a qualified buyer to a builder’s sales center, the builder’s sales agent will do the majority of the work of dis-covery, demonstration, selection and closing. They don’t have to complete any paperwork worry about collecting the deposit or even arranging financing since the builder typically has that in place. This is all time saved that the Realtor can use servicing other clients.Another benefit is that builders can be a source of new listings for Realtors. How often is a builder presented with a sales contract contingent on the sale of the buyer’s existing home? That’s when builders benefit from their relationship with Realtors, and the Realtor gets another home to list.


National Webinars

In order to make sure that RE/MAX India continues to make training and up-skilling opportunities available to all its affili-ates across the length and breadth of the country, online training webinars are being conducted on a monthly basis.

• SharingBestPracticesWebinarSeries–2013byMananChoksi, Regional Owner-RE/MAX MGM

• Monthly TechnologyWebinar in English&Hindi forNewJoinees in RE/MAX Network regarding contact management and property listings.

• MonthlyTechnologyWebinarforBO’srelatedtoTRRfillingand auditing, property Listing, Buyer Match and contacts Management.

Walking an Extra mile with Technology

Online “Live Chat” facility has be started on RE/MAX India regional website www.remax.in for Franchise, Property and General Enquiries from visitors.

Our regional website www.remax.in has been optimized for mobile viewers.

Google Adwords started for “RE/MAX Franchise Development” and “Become an Agent at RE/MAX” for all existing regions.

News from RE/MAX india


With the Union Cabinet approving the Real Estate (Regulation and De-velopment) Bill, the popular view is that it will help property buyers benefit and make the system more transparent. The real purpose of the bill is to give a reliability of the delivery of the project once it is launched. While the bill has its good intentions, precedents show us how such regulations usually eliminate the small builders completely.

Highlights of the bill:

1. All residential projects having units that are more than 4000 sqmts will fall in the ambit of this regulation.

2. All projects to be launched only after all the permissions have been received for the construction of the project.

3. About 70% of all the money collected for the project has to be used only for this project.

4. Projects to be sold on carpet area only.

5. Each state will have a tribunal for redressal of complaints.

In the past India has seen regulators like IRDA, SEBI, TRAI, CCI, RBI, DGCA, ICAI. What each of the regulator has undoubtedly brought in is the required “buyer benefit”. However, a side effect of such a regula-tor’s impact on the market is consolidation. For example, the proposed real estate regulator in the new bill makes it compulsory for all new projects which are more than the size of 4,000 square meters to follow a few rules. Now such a regulation would actually harm the big pro-jects and builders would try to divide projects and do smaller projects only. However, a few factors like cost of construction, cost of marketing and the cost of providing common facilities push builders to do larger projects only. The customer eventually thinks that he should invest his hard earned money in a project which is regulated rather than an ‘un-scrupulous’ builders’ unviable project. This breaks the back of small builders, who survive on a single scheme at a time.

These days in a metro city there is already a lot of consolidation with a few names like Lodha, DLF, Hiranandani, etc. dominating the real estate sales market. Lodha claims sale of Rs. 10,000 crores in the last fiscal which is more than DLF’s sale of Rs. 9,000 crores in the same period. In a Tier 2 city there are lot of local builders operating in se-

lected areas of the city. Usually the local builder association has about 2,000 small and medium builders which are now dormant – due to slow market conditions. The SME segment has already got the burden of lack of reliable brand, inability of having fixed salaried staff and in-ability to invest in modern techniques of construction. When such a builder wants to scale up to large sized projects, he will need to comply with the regulator’s provisions which will deter him further.

We have seen in stock market that eventually all the small and medium sized IPO and brokers are eliminated from the market. It is said that SEBI regulations have closed more brokers than the slow market. So we have a handful of stock broking houses like MotilalOswal, Angel Broking, Share Khan, etc. who own practically the lion’s share of the market. It is said that unless a broking house has 10,000 customers there is no viability to run the operation. Oligopoly is the future of real estate sector, be it a builder or a broker.

The proposed bill has a concept called “registered brokers”. Hence brokers are also going to fall in to the ambit of regulation, which un-til now has been totally out of regulation. Such regulations in other countries have streamlined the entire industry and have brought a lot of transparency. Brokers slowly adapt to the regulated world and start building their own brand. This indirectly regulates the secondary mar-ket also.

Even the CREDAI (Confederation of Real Estate Developers Asso-ciations of India) has ‘strong reservations’ according to the Credai president C Shekhar Reddy. He has expressed his concerns about the License Raj re-entering the real estate world and unnecessary victimi-sation of members. It is important that the Bill maintains equilibrium between the developers and end users. Implementation of this Bill as it is will cause substantial increase in cost to buyers. In the long run the bill has the potential to actually shatter the government’s initiative of ‘housing for all’ at affordable rates.

Right now the cabinet has passed the bill and it is scheduled to be tabled in both the houses in the monsoon session. The bill most prob-ably will get passed uneventfully as officially only the state of Chhattis-garh has opposed it. So the regulator will actually cause ‘irregulations’ as it is not conducive to the small time brokers and is quite lopsided in approach. Oligopoly seems to be imminent.

Real Estate Regulator Will Bring Oligopoly in the Sector – Manan Choksi


Why Mumbai real estate rates will continue to be stable

In the Indian city which has for years carried the unwholesome reputa-tion of being the most over-priced in terms of residential real estate valuations, there is no relief in sight for aspiring home buyers. Over the last four years, property valuations in the financial capital have increased by an average of 66 percent. All ‘expert’ predictions of an imminent correction over the last three years have proved to be wrong.

It is true that going by all known market dynamics, a correction was inevitable. Lack of affordability over an extended period is a known catalyst for downward revisions in any market category, including real estate.

Another globally accepted precursor of a property market correction is a surfeit of unsold inventory. If these two indicators would have held true in Mumbai, the city’s residential real estate market should have corrected three years ago. However…

Ground Reality

Residential property prices in Mumbai have increased steadily after the correction seen post the Lehman debacle. In the period from the second quarter of 2009 to the same quarter in 2013, residential real estate prices in Mumbai have increased by 66 percent. In Thane, the increase has been even higher at 70 percent while Navi Mumbai has seen a staggering escalation of 74 percent.

Even within Mumbai, some locations have crossed the 66 percent av-erage increase in the same period. The Malad–Borivali belt has seen an increase of 85 percent. The cumulative price escalation figures for Mumbai, Thane and Navi Mumbai represent the highest among all cit-ies in India. During the period in question (2Q 2009-2Q 2013), Gur-gaon and Bangalore – undeniably two of the hottest real estate markets in India – saw increases of 52 percent and 46 percent, respectively.

From an end-user’s perspective, Mumbai’s astronomical residential price increase is undoubtedly irrational. Below the surface, however, there are market forces at work which cannot be mitigated.

Escalation triggers

One of the primary reasons for Mumbai’s ‘unreal’ price movements is the limited supply of ‘clear’ land. Other factors at play are the reduction in new launches over a 1.5 year period from 1Q 2011 to 2Q 2012, caused largely by a slowdown in approvals for new projects, and the high interest rate scenario in 2010-2011. In this period, the govern-ment, in its efforts to curb inflation, raised lending rates around 12 times.

Every time this happened, developers’ input costs for their projects rose in tandem. The matter was further compounded by the pressure on developers to give assured return to investors who had bought into

their projects at the pre-launch stage.

Meanwhile, there was a high rate of price volatility in other asset class-es such as equity. This, along with the high cost of debt, brought about a massive liquidity crunch. As a result, developers’ backs were to the wall when it came to purchasing the massively priced land parcels. This limited new project launches. The historical title disputes attached to many of these plots did not help matters much, either.

In the midst of all this came the new development control rules, which caused many projects to come to a grinding halt midway as developers and architects struggled to adapt projects at various stages of develop-ment to a completely new set of mandatory guidelines.

Finally, we need to consider the phenomenon that is, in degree if not in principle, more or less unique to Mumbai – that of developers as well as buyers adopting the dubious philosophy of benchmarking prices in an particular locality based on one or two high-profile transactions or over-hyped launches.

Demand remains steady

Through it all, the demand for investment residential properties and end-user homes in the country’s financial capital has remained stable. The ever-increasing number of second home buyers within the city and the firmly entrenched – and admittedly vindicated – mind-set that real estate prices in Mumbai will never go down will ensure that the stability of Mumbai residential real estate market will continue.


RE/MAX Expands global Reach to More Than 90 Countries

Franchisor Adds to Middle Eastern, Asian, African Footprint

DENVER — After selling master franchise rights to Lebanon, Qatar, Kuwait, and Uganda, RE/MAX has expanded its international reach further into the Middle East, Asia and Africa. These new additions to the network are part of an aggressive global expansion, which brings the RE/MAX Balloon to more than 90 countries — more than any other real estate organization.

Over the past six months alone, RE/MAX has opened doors in 10 countries with more than 370 worldwide franchise sales, and plans to continue furthering its footprint throughout the year.

“Expanding our global footprint brings about many new opportunities,” said Larry Oberly, RE/MAX Vice President, Global Franchise and Business Solutions. “With the opening of RE/MAX offices, our new regions have the opportunity to influence local professional standards as they introduce a high level of customer service.”

Nabil Kamar, Region Owner of RE/MAX Lebanon, is set to develop the largest network of independently owned and operated RE/MAX offices in Lebanon. Kamar is aiming to grow the region into a network of 40 RE/MAX offices over the next five years, and is on point to achieve that goal.

AbdulAziz Bin HouHou and his wife, BedourHaidar, Region Owners of RE/MAX Kuwait and RE/MAX Qatar, are looking forward to the many opportunities that a strong, international brand has to offer. The pair has already been in discussion with six likely office franchise candidates.

Mohamed and ShamilaKalisa, Region Owners of RE/MAX Uganda, also believe the RE/MAX model is ideal for the current real estate market in their country. Uganda’s economy is booming as oil becomes a major export, and cross-border immigration has resulted in higher de-mand for housing. RE/MAX is the first international real estate franchise to enter Uganda.

The Kalisas, Kamar, HouHou and Haidar all share well-rounded backgrounds in real estate and business management.

“Our goal is to discover innovative entrepreneurs who share the same passion for professionalism and premier customer services that our other outstanding international franchise owners possess,” said Oberly. “These teams radiate that passion and commitment to make RE/MAX a success.”

RE/MAX enhances its international presence with global.remax.com. The website serves as a full-service source for residential, luxury and commercial real estate around the world. In the past year, it has had more than 2.9 million visitors, generated over 20,000 leads in the past sixth months, and can be translated into 36 languages.

RE/MAX Tops List of Most Productive Agents

DENVER – Ranked by most properties sold, RE/MAX residential specialists led all competitors among the top 1,000 real estate agents in the nation.

Published by The Wall Street Journal and REAL Trends, “The Thousand” ranked the top 250 agents and top 250 teams for transaction sides and sales volume. When the 500 transaction standings are combined, RE/MAX agents hold 98 places. That’s nearly one out of five – and more than any other real estate brand in the report, which ranks participating agents based on 2012 production.

“We’re proud of these RE/MAX agents for their outstanding professionalism and commitment,” said RE/MAX CEO Margaret Kelly. “Their dedication to their clients is why – year in and year out – RE/MAX sells more real estate than any other real estate franchise.”

Read More… http://www.remax.com/c/about/news_article/re-max-tops-list-of-most-productive-agents


interview of Ms. ShreyaMody, Broker owner RE/MAX MATRiX, Mumbai in Estate World


RE/MAX MgM Training Calendar for July 2013

◄ Jun 2013 ~ July 2013 ~ Aug 2013 ►

Sun Mon Tue Wed Thu Fri Sat 1

2

3 Online Webinar on Creating Referrals.

4

5

6

7

8

9

10 Online Webinar on working with buyers – the referral way

11

12 What is Means to be a Peak Producer

13 Building a Dynamic Database

14

15 Creating Referrals

16 Working with Buyers - The Referral Way

17 Online Webinar on working with sellers Working with Sellers

18

19

20

21

22

23

24 Online Webinar on setting SMART Goals Setting SMART Goals

25

26

27

28

29

30

31 Online Webinar on Doing The unexpected Extras Doing the Unexpected Extras

Notes: Online Webinar Classroom Training"


RE/MAX MgM participated in FRO in Ahmedabad

RE/MAX MGM participated in FRO 2013 at Hotel Pride, Ahmedabad on June 15th and 16th2013 and generated good number of inquiries. More than 500 people visited RE/MAX stall in 2 days. Regional Owners MR. Manan Choksi and Mr. Aashil Patel along with sales team par-ticipated in the FRO and spread the RE/MAX philosophy amongst the visitors.The FRO 2013 provided a direct opportunity to the investors and principals to come face to face and interact freely.


Manan Choksi on behalf of Udgam School adopted a Municipal school in Ahmedabad.

NAR iNDiA 5th Annual Convention – New Delhi

1000 + top Brokers from across the country are attending the 5th Annual Convention of NAR India. Speaker sessions, networking, enter-tainment, educational courses, referral exchange program and much more is in store. Team RE/MAX MGM is participating with its Regional Owners and Broker Owners.


First Position – SudipKinariwala Second Position – Prashant Mehta

Third Position – Dixit Shah

RESULT OF DESigN CENTER COMPETiTiON:


Hot Properties of the Month for Sale /Rent

3BHK 2250 Sq.Ft. + 1230 Sq.Ft Terrace, PENTHOUSE, Low rise building, Unfurnished , for SALE , Thaltej, Ahmedabad

Price : Rs. 1.15 Cr. Contact RE/MAX METRO SudipKinariwala : 9825077799

HTTp://WWW.REMAX.IN/505004029-137

1500 Sq.Ft Fully Furnished office for RENT, Nr Mahalaxmi cross road, at Paldi, Ahmedabad in a new building, with all new furniture.

RENT :Rs. 76,500 per month. Contact RE/MAX METRO Shyamal Bhatt : 7600054001


Excellent 3 bhk Flat on 1st floor near Mansi Circle, Vastrapur, Ahmedabad

- Semi –Furnished Allotted car parking Gas pipeline Newly Renovated Society - 24 hr. water - 24 hr. security Garden Area

Negotiable price Rs.65 lacs. Contact:- RE/MAX Revolution Mobile No- 9227 400500


3 BHK Fully furnished Pent House for sale in near Himalaya Mall,Gurukul, Ahmedabad

-Fully Furnished with A/c Installed-Children Play Area and Garden -Ample parking Space-24 Hrs Water & Security

NEGOTIABLE pRIcE RS.68 LAcS.cONTAcT:-RE/MAX REVOLUTION MOBILE NO- 9227 400500

1000 Sq.Ft. Fully furnished Office for RENT on Corporate Road, Prahladnagar, Ahmedabad,

RENT :Rs. 47,000 ( including all).

Contact RE/MAX METRO Aja Shah : 9687274881


3 BHK, 502 Sq.Yds Fully Furnished BUNGALOW on RENT Near Vish-wabharti School. Thaltej, Ahmedabad,

RENT :Rs. 65,000. For more details please contact

RE/MAX METRO Amish Vyas : 9924128343



Hot Properties of the Month for Sale /Rent

3 BHK Fully Furnished flat for sale in Posh Locality of Bodakdev. Ahmedabad.

-24 Hrs Water Supply -24 Hrs Security Garden & Children Play Area -Ample Parking Space -Well Maintained Society Servant Quarters in Basement

Negotiable Price Rs. 1 CR.Contact:-RE/MAX REVOLUTION Mobile No- 9227 400500


4BHK Fully furnished Bungalow with private garden, multiple cars park-ing with separate entry. For SALE, at Prahladnagar. Ahmedabad.

Price :Rs. 7.5 Cr. For more detail contact Chintan Parikh : 7600010530


Bungalow for sale in Breach Candy, Omer Park, Mumbai

About Bungalow:

• 1080sq.yardbungalow3storybungalow6RoomsMarbleflooring • ModularKitchen2balconiesAllottedParkingCeilingHeight11ft

Contact Mr. Jay Shah, RE/MAX Connections, M: +91 9821050375

HTTp://REMAX.IN/517016001-1

2 BHK Furnished Flat On Sale in Juhu, Near Amitabh Bachchan’s House, Mumbai

• FullyfurnishedflatLocatedinaprimeareaJuhu • FurnitureinallBedrooms*MarbleFlooring • ModularKitchen3Bathrooms*2Bedrooms • Lowrisescheme*Allottedparking* • CeilingHeight11ft*Situatedinpeacefullocation

Contact Mr. Jay Shah, RE/MAX Connections, M: +91 9821050375


1320 sqyard plot for sale @ SindhuBhavan Road, Ahmedabad

Exclusive residential plotting scheme, with 24 hour security, club house, garden,

Location:- Very near to S.P.Ring Road, SindhuBhavan Road.

Contact :RE/MAX REALTY SOLUTIONS: ParshvaVakharia+91-9825767574



RE/MAX MGM Safal Profitaire, Block A, G5, Corportate Road, Opp. Prahladnagar Garden Road, Ahmedabad – 380 015 Phone : +91 99090 66999 Email: [email protected] NOBODY IN THE WORLD SELLS MORE REAL ESTATE THAN RE/MAX

Please send us your reviews about this month’s newsletter. Feel free to give your suggestions and we will incorporate the same in coming newsletter. Send your suggestions to [email protected]

Photo gallery

RE/MAX MGM creates posters for various awareness day and are posted on RE/MAX MGM FB page