Real Estate: Q&A with Janak Malkani
'Greatest joy is watching a family plan its future when you show them an apartment'
*What are the positives of working in the industry?
There is a little bit of every aspect you get to learn - laws, finance, management. It is a great platform to understand how businesses are run from the real estate point of view. You interact with people across the spectrum. But the greatest joy is watching a family plan its future when you show them an apartment.
*And the negatives?
It is not a negative but there is great buyer-seller remorse. After they have agreed on a figure, both parties will wonder if it is the right deal. Managing this remorse is the biggest challenge. You have to be very patient and let both parties take their time to decide.
*How good is the money?
A fresher out of a decent business school can start at Rs 40,000 to Rs 50,000 a month with an IPC or builder. And then there are commissions, which can be up to ten times your cost to company.
My grand aunt who has been in this business for a long time always jokes that the only other industry where you can make this kind of money is the drug business.
*Where do you see yourself ten years down the line?
In the same industry. There is no way I am getting out of the real estate business. I may do something on my own, probably start my own consultancy.