Real Estate: interview with Chetan D Narain
Are there takers for careers in real estate?
I think yes…everyone has been a witness to the boom. But that alone does not guarantee a growth-oriented career. This is a career option for life and property will never go out of style. It is a requirement, a necessity and hence the career potential is high.
What is the typical profile of someone wanting to work in the industry?
We see more young aspirants coming in. But I also know of a chartered accountant couple that took our 'Principles and Practices of Real Estate' course at the age of 60 and joined the real estate brokerage business. The profile varies from hospitality, airline, retail, event management, call centre folks and other professionals who are able to see bigger opportunities in this business.
What are the growth opportunities in the industry?
In brokerage sales, depending on how the package is structured, one can enjoy the pride that comes with running one's own business. 'Associates' are perceived as independent entrepreneurs. This earns the respect of industry peers and other professionals in the community. Most importantly, it generates an intense internal pride which comes from making your own way.
What can a new entrant in the industry expect to earn?
Each segment has its entry pay packets and growth opportunities. With a salary, one gets labelled or limited to a certain figure with commission sales the income can be three, four or five times the annual salary.
Is there a need for greater emphasis on educating people and equipping them with the relevant qualifications?
Absolutely yes. Whether one does theory first and then practical or the other way round, education should be the benchmark in setting a 'qualified professional' from a professional.
What would you like to say to those aspiring to make a career in this industry?
If you're looking for a career that enables you to control your workday and offers a direct correlation between your effort and reward - with unlimited potential on the reward side - then real estate sales might be a good fit. It's not easy. But when you surround yourself with other serious professionals you realise an immediate benefit - because you see first-hand the habits and strategies that work and you're motivated to emulate the success you're witnessing.