HARSH REALITY Of India's Real Estate REVEALED By
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- Опубликовано: 28 май 2024
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In RESTLESS’s 17th Episode,
We’ve a second generation real estate advisor and Founder of RK Mumbai Realtors: Ravi Kewalramani, which has done extensive work in the area of purchase and sale of commercial and residential properties that covers areas from Bandra to Andheri in Mumbai, Maharashtra.
Ravi Kewalramani has had the privilege to work for not only television and movie celebrities, but also a few princes and maharajas whose identity he has kept under wraps owing to privacy and security reasons. Today, the social media is abuzz with Ravi and his real estate company's posts, which he keeps uploading regularly, and surprisingly he has also become a social media star having a huge following which has reached more than 470K+ followers on Instagram, and more than 320K+ on RUclips. His simple approach in showcasing properties has won him a massive following, which has helped his company grow further.
0:00 Introduction
01:36 Are real estate brokers trained to be arrogant?
05:38 The concept of 'Tagging' in real estate
07:42 The business model of Real Estate Agents
21:17 Lessons Real Estate Industry teaches you
35:09 Why online real estate platforms are not doing well?
42:54 How is Western real estate market different than India?
56:53 Merits of Real Estate Business
01:02:55 How can someone invest in Real Estate?
01:15:36 Conclusion
• • •
To Gain More Such Insights ⤵︎
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• Playlist
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• • •
Ravi Kewalramani’s
Social Media Handles ⤵︎
Instagram @rkmumbairealtors
/ rkmumbairealtors
LinkedIn: Ravi Kewalramani
/ ravi-kewalramani
• • •
About RESTLESS
There are millions of people who want to build something of their own but are helpless and don’t know where to start. This is why we decided to document the journey of the globe's top 1%, through RESTLESS. On RESTLESS, Ayush Shukla will host the globe’s greatest success stories and document their secrets to success so that YOU don’t ever have to feel helpless.
To Know More,
Follow RESTLESS On ⤵︎
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/ restlssclub
Twitter @RESTLESS_Club
/ restless_club
LinkedIn - RESTLESS
/ restless-club
Spotify - RESTLESS
open.spotify.com/show/7BuMVNS...
• • •
About Ayush Shukla
Ayush Shukla is the founder of Finnet Media, an influencer marketing and talent management agency that manages most of the country's top influencers and is an entrepreneur at heart. He has worked with 250+ creators and 100+ brands including Amazon, CRED, StockGro, IND Money, Slice, etc. Besides this, Ayush is also an Angel investor interested in sectors like FMCG, Fintech, Creator economy etc.
To Know More,
Follow Ayush Shukla On ⤵︎
Instagram @AyushShukl.a
/ ayushshukl.a
Twitter @AyushShukl99
/ ayushshukl99
LinkedIn - AyushShukla99
/ ayushshukla99
RUclips @AyushShuklaRUclips
/ @ayushshuklayoutube
• • •
RESTLESS’s Partners ⤵︎
Bombay Sweet Shop (Gifting Partner)
bombaysweetshop.com/
• • •
#RESTLESS #RealEstate #Rich
![Property Waali Baat-Cheet w/ Ravi Kewalramani [@rk.ravikewalramani] | #1196](http://i.ytimg.com/vi/ASmm8fCH4xY/mqdefault.jpg)
Why we Indians don’t trust ‘brokers’ (from a tenant’s perspective)
1) Brokers unnecessarily hype the rent (like he told an example where ₹95k ask went for ₹1.20L)
2) Since the brokers are not regulated, most of the tier A cities have goons or rogue people working as ‘brokers’
3) Society/Apartment management committee or residents becomes the broker for the same society.
4) Even if you contact the owners directly but some brokers will pressurise to pay brokerage.
5) There’s a repetitive yearly brokerage rule which makes tenancy difficult especially in Mumbai.
Yup I have had experience where brokers have directly ran away with rent which they were supposed to give to the owner. Brokers need to be regulated.
In every industry you will find this type of people, why fingers only to brokers. 😅 big problem is we have no license policy.
becuase we bought property from paan wala watchmen or some local person
A Broker Run behind you, 1 Month for your Requirement ,in the end of month Buyer or Saler or Tenant say
Now i have to wait some time or no budget or Let me discuss with my family and some time say No'
1 or 2 Months wasted time Result 0
@@ansariassociatesrealestate2284
Don’t do business if can’t handle ‘NO’ from a customer.
Ravi’s sir style of working in a country like India is game changer. Very difficult dealing with Desi mentality.
He is a known face in this Industry and if such a person talks like this, not sure why the real estate brokers even exist. 2% brokerage in this digital era for just showing the property, crazy.
It's not that only buyers can give brokers grief. Mine was the opposite experience. I recently sold a small flat in Mumbai. The broker who also earns a commission from the buyer decided to give the buyer my house keys so that he could do some Dussera ceremony in it without my knowledge. It was absurd as the buyer had just made a small token payment. Luckily I found out what happened behind my back. I was advised by my lawyer to take the keys back and change the locks. In the UK, it's against the law to have the same broker represent the buyer and the seller to avoid a conflict of interest. High time some rule of this type is also adopted by the Indian Govt.
Enjoyed listening to this young man. I used to watch his channel for fun because of his impromptu comments and lack of preparedness. Now I know that he is a real man !
Being in the real estate market for 4 years, everything Ravi says aligns well with my experience. It's a wild west and there is no regulating authority to look after this issues.
bro, REAL ESTATE REGULATORY AUTHORITY(RERA) is established under Real Estate (Regulation and Development) Act, 2016 ...is the regulating authority..kindly have full knowledge....I think you meant to say that real estate sector is unorganized, but it is not unregulated.
@@raghav2787 yeah, you got me there. They exist for the name sake.
Hey was a pleasure hearing about your real estate journey so far. Can relate with your experiences and your trials and tribulations very well. I'm a grey haired realtor myself with 30 years experience. Would be nice if we connect and exchange notes. Keep going.
Cheers!
He is giving the vibe of a frustrated salesman who always blames the buyer
True
Mumbai mein aukaat nahin hai ghar lene ki, but still people watch see comment and enquire. Anyone woukd be frustrated
Can you tell me the percentage of ppl who purchase costly dress/shoe in a big shopping mall ??
99% of business in India happens on trust except when Corporates are involved. "No group, no associations" is a common thing across. Heck, even unions don't exist in most manufacturing plants nowadays. If you are complaining about these things, you probably chose the wrong profession. Head back to the US.
Don’t say anything about anyone unless you know them thoroughly. Work with him or in the same field, be the king and then judge. Pls it’s a request. 🙏🙏🙏
Currently in my 6 th year in the real estate Dubai market. Stumbled upon this amazing amazing podcast. It’s so crazy to see the similarities & challenges between the two real estate markets.
Loved every bit of this 🙌
Hey bro how can I get in touch with u I have sone queries regarding Dubai real estate??
Real estate person is very right..he deserved the commission being a professional...This should be well defined and documented in the agreement.
Great interview. Good to hear from Ravi a great personality, who has spent decades together in this industry.
His passion towards his work is truly inspiring.
Every young person who wants to build a career in Real Estate must watch this.
Good Conversation...
Pakka Mumbaikar talk show liked it...
Only mumbaikar acan understand what Ravi is giving glance
Ravi has given lot of practical advice and tips to many entrepreneurs! I initially thought he was a smug but realise he has gone through the grind and build some great principles of doing business!
Practical guide to real-estate ❤
Best podcast I've ever seen about real estate market , thankyou so much for bringing this kind content to us ❤
He's very blunt and transprant very honest there is level of working caliber is a correct word . Amazing Ravi keep up that awesomeness absolutely flawless brother
I dont think these folks add any value and take a cut from both buyer and seller which doesn't make sense. Ideally the buyer shouldn't be paying any commission.
Its time to formalize this industry too and bring it under the regulatory ambit.
Also the whole process should be made transparent with the transaction being managed by lawyers/firms whose responsibility will be to verify titles,kyc, identities, structural checks etc etc. The sale price of all properties should be freely available.
It will eventually happen.
Its shameful that even basic things like these had to left until 70 yrs.
It's already happening, startups like nobroker are trying to solve this problem
@@omanajz Awesome, 👍
@@pv0315 true, I gave Nehru cachu and co a few years to chill before beginning the task of nation building. 😂
Maximum Rs.25000 per deal per side is sufficient as commission to these dalals which is what i feel personally
Right here he is asking for 2% for a 8 crore property which will come 16 lakhs for just showing the property. What value they add for 16 lakhs.
Government should start an escrow system for brokerage. This could be a digital public good like ONDC, UPI, etc.
Hahaha.. was thinking of the same.
In US escrow system is there
Back in the 80s he purchased it for 50K in Juhu. The best salaries at the time of was Rs.100 to 150. So if you adjust the inflation, the value is pretty much same. I am not saying the decision was wrong to buy those properties but my point is, 50K then to spend back then was similar to spendinf 10-20 Crores
6% is the highest. It’s between 4-6%. Also the agents to split the total commission to 50/50 between smaller’s agent and buyer’s agent (if there is a buyer’s agent involved). All agents again pay some % to their broker.
The most frustrating part is even after paying broker the lease aggreement is 11 months. Which means more than a months of rent is paid on brolerage. Its sad. There is no long term lease like other countries
Ravi's voice is amazing.
Really insightful video.Would love to see such more podcasts in future.And would also like to appreciate Ravi sir’s efforts in building his business in a such disciplined and loyal way.
Very Real, educating and helpful person.. Mr. RK !! You took out time to do this podcast without any returns... Hats off to you.
Great video! Although you could have asked him about frauds and disputes in Real Estate that he has seen over the years. That is also a major setback why people hesitate to enter into this feel. Anyways amazing podcast!!
Podcast chalu karde bohot chalega
I am not an real estate agent but a buyer and I listened till that doctor's story. He was just trying to save some money which he earned by his hard work and he was doing it right in my opinion. I would do the same and I know 99% of Indians will do the same. We go to multiple shops before buying anything.
Indeed, it is a prevalent issue in our country-lack of integrity.
Consider the scenario of dedicating an entire month to work diligently at your current job or business, only to be denied the rightful remuneration for your efforts because your employer is trying to save his hard earned money!
Going to multiple shops is not equivalent to purchasing a property through an estate agent who offers kickbacks instead of staying loyal to the agent who initially introduced you to the project and assisted in narrowing down your options based on a thorough understanding of your specific requirements.
@Snehal Kolambe bhai no real estate agent is loyal to his customers, first thing they say is 5 other people are ready to final this by tomorrow, so book this property today itself. Otherwise, you will loose it.
@@youtubeaddict3041
I appreciate your perspective. It appears that a significant number of real estate agents resort to time-tested strategies, such as fostering a sense of urgency or eliciting fear of missing out (FOMO). These tactics may be employed in response to their inability to offer unique or superior professional services, hence their reliance on such overused methods that nonetheless remain effective. When I previously mentioned a lack of integrity, I intended for it to encompass both parties, including the agents themselves.
indeed we go to multiple shops before buying anything but if you get an experience where one shopkeeper is honest and and upfront then we still stay and buy from that shop even if it costs a bit more for sake of sincerity and genuine attitude. after one such experience it someone again coz for cheaper deal then there is definitely lack of integrity and respect.
@mackisbrocklesnar bro property is not something that someone buys frequently, it's once or twice a lifetime or maybe little more. Tell me one thing if one customer is giving you 7 crore and other customer is giving you 8 crore so to whom will you sell the property? All integrity will be gone when you see the comission.
@rkmumbairealtors I loved the way you addressed Dhakka, Dhokka and Dua. Became your FAN
Ravi sir's points are bang on. I too have returned back to India and with my father's support started Dunamis Lifespace, a real estate developer company. Had no idea how the industry worked, but God has been kind and our hard work paid off. We are developing multiple residential and commercial buildings at the moment. Wish everyone the best. Hope the industry becomes highly organised, transparent and ethical.
ethical ? are u sane ?? so much money to be made and you want to talk ethics ? learn some thing about ethics and not just ethics itself lol
Great attitude man. He is so clear and proud of his work. No one can stop you from being successful
This is called toxic attitude!! Talks a lot abt the industry, unlike USA, where folks have education and class both to be a realtor :)
Ravi is the guru! A big fan ❤
Two inspiration in single frame🔥
Watched only for Ravi bhai, Thanks Restless
Definitely property platforms helps in deciding multiple options at one go
He is frustrated which absolutely valid. When you do for your bread and butter and you still need to work for lot of fake deals. Its not easy to not to have frustration which is part of the business
A customer has full right to enquire and do his own research properly before buying anything especially a property/asset which is obviously expensive. He is spending crores, he isn’t obligated to give u a deal just because you are trying to close the sale. If his loss happens in that property due to some reason, would u take the responsibility to cover his losses? You aren’t a businessman if you can’t understand a customer and want to close a deal forcefully where he isn’t fully satisfied.
These principle apply to every business.. Especially the doctor wala story resonated with me
Man just his voice is so good just look at host voice and ravis voice you see a stark difference i can hear him on the laptop speaker loud and clear but for the host i need a heaphone
Love from NZ❤ Good podcast. Can relate to what he is saying. We are into real estate and we do face some similar kind of issues. Lot of love. Keep on growing.
Would be interested to know more insights on these three:
1. Your qualification process on HNIs and middle class clients.
2. Your business model/process/strategy in metro and non-metro cities.
3. Is it a good bait to buy or rent (not rent out) a property at this time given that several "influencers" via social media says to go for rent?
I am real estate agent from mumbai and i am agree with ravi sir indian government gives some protection on behalf of agent there is rera registration and everything and they charge money for that's certification something around 18000 but there is no protection giving someone is talking about this things i am so glad🙏
Ravi has great presentation skill, lets your visualize the property.
A very true perspective of the real estate world in Mumbai & Developed Nations !
Rera has recently come up with a circular in Jan 23. Now it's compulsory for real estate consultant have to pass a exam and obtain Competency certificate for selling properties.
In India??
@@miketakhar7296yes
rera is toothless body
The title is serious “CLICKBAIT”
I really like his videos.. I pray to god that you will never get cheated in your business.. more power to you RK
Lovely interview..a eye opner into the real estate brokers life.wishing the Guest success always.
Real estate in India is an overrated investment. Rental yields are less than 3% here. Some people have a bias towards real estate or gold or any other asset class but one should remember having a well diversified portfolio is better.
Yet again one more guy with numbers which don't make sense in India.....
Cause only black works in most real estate!!
Bro incase you don't know you have to add TIME STAMP'S in description compulsorly. It makes audience experience better and convinent.
Yes very much
As a Brokerb.this is the experience and pain we all have....... Thank you Ravi Bhai
This is one of the best podcast on Real Estate Industry.
Really nice and very honest interview
Like the guy telling all difficult and telling really how to deal with bogus people ❤
Nice episode. Few inputs though, kindly increase the voice quality and picture as well. Video looks blurry lacking detail, also the voice of the host is too low, while rendering the video try to increase they output volume.
As customer , i saw many real estate agents who earns money easily because customers are not vigilant . but some customers , treats its sabji market , you should pull them below or real market value rather inflated price as much as you can , you will get the best deal, but do due diligence before you decide.
Great Content. Please sort out the editing for giving a better experience.
I am a real estate agent and i am glad this is the first video on real estate agent business , thank you so much 🙏
anybody interested near Mumbai bhiwandi Kalyan ke near land ki requirement hai to I will show you best land available land Mumbai nasik highway and also near samruddhi highway circle
Awesome Video Ravi
Lot of valuable insight into the world of Realtors and how this profession flourishes against all odds. A very noble profession we are all in and yet get treated badly sometimes - but it takes all kind of people to make this world 😃
Yes. Real-estate is a good investment.
Real-estate agents are connecting buyer and seller to complete the deal.
Very informative and well structured interview.
I think the approach followed by Mr Ravi is okay with top notch clients but protocols somehow trespass in case of middle income group reality requirements.
What I would like to learn from him is how he survived real estate mkts being so un regulated and sometimes unethical..
DO NOT USE "BENEATH ME" EVER!!!
why are you screaming?
Lgta hai ye wahi Doc hai 🤣
Paise Udata nahi hai 👍🏻👍🏻👌👌 It’s generational 👏
deserves a subscribe, waiting for knowledgeable content like this. all the best
Really Nice podcast Packed with a lot of information RK is a great guy.
My big inspiration in this category ❤❤ i started my channel watching after Ravi Bhai
this real estate agents seems to have alot of knowledge & Experience we neeed more videos
Same experience..i tried real estate for 2 years...
Is the video of only 10 seconds?? Have opened the link given on authors linkedin still the entire video is not visible. What is the reason and is anybody else facing this issue?
It's a 1 hour 16 mins video.
@@Aah292 hey no I can see only 10-11 secs of video. Few others in the comments are also facing this issue
Loved it . Nice session.
Ravi is awesome have been watching his videos desperately the way he goes indepth of the property while showing as if he is owns it the pros and cons of the product .
Totally interested in real-estate. Going to the UK for studies-cum-earnings in pound. Hope the app would be ready soon so that my portfolio don't only hold equity but real-estate too
Very nice conversation.
Ravi Bhai daddo mazo aayo tawahkhe podcast main disi kare. Love you Ravi bhai😊
Really this man is genuine nice to see the podcast superb experience 👍
Tough job..i wonder why there are no contracts to protect brokers
India mein Har koi real estate agent hai. Ye video mein se ek RUclips shorts banao bhai. Waiting for such a long time
A customer should have the free will to approach anyone. Why he should stick with 1 guy or broker when there are many out there? That person is spending his hard-earned money and should approach anyone or investigate as he would like. This guy's statement describes his own personality. He is just after his commission, that's what he care's about.
If a customer goes to purchase a car, he can visit multiple showrooms of different companies or even of the same company.
He might get different offers or discounts. In the end, it would be his final decision to select a particular car from a certain company. Other salesmen can whine about their job to describe things to a customer.
true. He is just showing his arrogance
Ravi is a gem.Loved the podcast
If someone is faced by non serious buyers plus who cant afford such properties is a still
Big headache and waste of resources and energy.....
very informative
Knowledgeable podcast .and this guy is very clear on his thoughts. hats off to his knowledge abt real estate
Great insights alot to learn🤗thankyou sir
This guy is saying 101% truth. Hope all people coming on RUclips learn from him
Very well said that its a harsh truth the way these unprofessional and untrained people show the property and tag themselves real estate agent literally sometimes client gets frustrated 😠
Very very great informative video..💕✨❣️💯🖤
Nobroker disrupted the indian mindset. Hear their tagline "brokerage kyun dena " listen it and embed it in your mind. The moment u meet a agent u will say " wont pay brokerage" . This has spiralled down where owner side commission has gone down.
Not every owner is looking for "sole mandate ". Those days are gone where " samosa waale uncle " used to run this business. Unfortunately the old ways are still being continued.
It's a surprise for me, I watched this video till the end, without get bored. Informative video , have good experience in real estate 👍
Glad you liked it.☺️
Good stuff...
Also he should mention the bargaining that a broker does for a client, it’s more than commission that a client has to pay
Some issue with the video. Only a 10s part is uploaded.
Yes exactly. I wonder how so many people are commenting that they have seen the entire 1hr 16 mins of the video
I think the author has taken the video down due to excessive controversies.
@@tarashri Its now Fixed :)
Fixed
@59:32 The gem information 💎
In short, time has come to do the document the terms between brokers and client/developers.
Podcast is good, Host need to speak a bit louder, I had trouble understanding
Why are the conversations edited bro, poora dikha ne me kya jata hai??
This is very nice explanation…
If our panwala etc can sell real estate ... what the problem with this.
Direct money is involved in property commission unlike other businesses
If I talk with the watchman I'm beneath you ?
If you are just taking advantage of the information you have, just because the market is unregulated and their's information asymmetry and duping people of their lifelong savings. You are beneath me !!
I agree.
Yeah, logic is like heads I win, tail you lose. Anyway who is looking for a certificate from a dalal. In sensible countries, comission is only paid by the seller, not the buyer. Why should a buyer pay commission to a dalal who is representing a seller ?
You know it's so easy to wipe off these dalals, these middlemen who are sucking the lifeblood from the economy and the blood of these poor first time home buyers.
All it needs is a simple open source AI based aggregation platform. It's so easy to build in today's day. But the only thing that is putting food on the table of these Dalals is the huge Black money circulation in Real Estate. Had it been regulated a lot of these so called luxury and premium segments would have simply shut down !
I understand that this guy might have had a hard life, with his dad dying early and all. But what he's saying and the way he's saying is simply obnoxious. He has no empathy or sympathy for his clients who might have saved every penny throughout their entire life to buy that piece of property. He might try to put up that fake classy accent of his, but clearly he lacks proper education and decency.
And even if he was referring to commercial property client's of his. It's still a horrible way to deal with your clients.
FAct is ... people dont think brokers add as much value to deal as they demand brokerage. Hence some of the issues. you can justify what they do its worth bla bla but thats not how clients perceive it.
बहोत फाडू इंटरव्यू था पर रियली in-depth knowledge wala है।
Sir, Why Andheri to Bandra ? Why not western suburbs?
Real Estate brokers are Builder centric people. They'll quote the prices including their own brokerage and the price that is best suits builder as well. In my Opinion, paying a broker for a property of your liking is in the arena of the rich one's. Middle class people like me would definitely prefer researching and reaching out to the builder or the firm to get the best possible deal for the both.