ORGANIZATIONAL STUDY:

On
DILIGENT ENTERPRISES

By:

NITHIN KUMAR K NAIK

Registration No.:-18MBAR132

For partial fulfilment of the requirements of final year MBA curriculum of

2nd year (4th Semester) Full time MBA Program

Submitted to:

Under the guidance of

MR.SHASHI KUMAR

Associate professor

Department :COMMERCE AND MANAGEMENT

2018–2020
CERTIFICATE

This is to certify that this ORGANIZATIONAL STUDY Report on DILIGENT ENTERPRISES is a

bonafide study of NITHIN KUMAR K NAIK carried out under my guidance and supervision.

Place: Bangalore

Date: [Signature of the Faculty Guide]

 DECLARATION

I hereby declare that this ORGANIZATIONAL STUDY Report of DILIGENT ENTERPRISES IS

submitted in partial fulfilment of the requirement for It Semester MBA Degree examinations 2019-
2020 of GARDEN CITY UNIVERSITY is our original work .This work has been done under the
supervision of MR.SHASHI KUMAR .Garden city university Bangalore.

Place: Bangalore

Date: [Signature] [Reg. No.]

 CERTIFICATE OF ORIGINALITY

Date:

This is to certify that the ORGANIZATIONAL STUDY of DILIGENT ENTERPRISES ” is

an original work of Mr.Nithin Kumar K Naik ; bearing University Register Number
18MBAR132 and is being submitted in partial fulfilment for the award of the Master’s
Degree in Business Administration of Garden City University. The report has not been
submitted earlier to this University for the fulfillment of the requirement of a course of study.

Signature of Faculty Guide Signature of HOD

Date
TABLE OF CONTENT
Sl. No. Particular Page No.

1. Introduction
Objective
Scope
Limitation

2. Industry Profile
Company Profile
Product Profile
3.
Organisational Design
4. SWOT Analysis

5. Summary Of Findings

6. Conclusion

7. Suggestion

8. Bibliography
Introduction:

Diligent Enterprises is one of the Leading Authorized real estate consulting Partners based in
Bangalore. The company was established in the month of May, 2018. Diligent Enterprises is
an endearing outcome of our Directors, Mr. Raghu Panchmukhi and Mr. Vivek Singh, both
compelled by their entrepreneurial spirit have together with the small yet proficient team has
surpassed many hurdles, thus, achieving the unexpected with each progressive years. A
pioneer property consultant we are privileged to be associated with Developers and many
more reputed associates for home loan and home interior. We are looking forward for more
opportunities in Bangalore and other cities in India. The company, here, value both
professional & personal relation making an effort for Growth at both ends in all visible terms
and much willing to grow our networks in prevailing corporate market globally, also making
it flexible for Non-Resident Indians (NRIs), to feel like Home. We promise and allow our
clientele to select the best property via unbiased reviews with a modest analysis. The
company mostly deal with residential, home loan assistance, home decor & interiors, etc.

Diligent is a small scale startups company with a size of 5- 10 employees in an firm ,the
company is involved in various elements of business in real estate ,from property
consultant ,housing loan ,interiors ,residents ,commercial ,and also a channel partner sales.
As they give end to end solutions in finding a right property to their customers.

The company got its first mandate project in the year 2018 as an exclusive marketing partner
with Ruchira projects pvt Ltd . (lilium ,arna,iris) as they have done branding ,promotion and
marketing 2activities ,and sold more than 200 plus units with Ruchira projects ,and 35 plus
units as a channel sales ,the company is well diverse in sales and promotion of projects
through online and offline channels ,online modes they tie up with an digital marketing agent
for promotion of their projects digitally and are published in various websites and social
media channels ,and offline channels such as newspaper inserts ,bill boards etc..

Though the company has very less employees the performance given by each individual is
very aggressive in nature, the employees here are young professionals, self-motivated, and
very talented in closing deals, the basic motto of an every employee over here is to grow
individually as a person and also in terms of financial
Diligent provides a very friendly working environment ,the colleges are very friendly ,and are
also very cooperative and social in nature who gives an support system to each and every
employees at all the time .

Objectives & scope:

A real estate marketing plan requires clear goals and objectives. A goal identifies an
overarching end result to be accomplished through marketing. Objectives quantify the goals
by assigning specific numbers and time frames. Objectives need percentages (market share),
numbers (ROI, square feet leased, units sold, volume of sales, etc.), and time (target dates) in
order to be prescriptive and measurable. Tactics are the distinct actions that must be taken to
realize the goals and objectives. In addition to numbers and time frames they require
designation of responsibility for achieving the results.

One of the major objectives of the company is to do more number of sales and generate
revenue to the company Real estate marketing makes a distinction between promotions and
sales. Sales represent the step in the marketing process where an interested prospect has been
identified and needs to be converted to a buyer or tenant. A broker or sales agent typically
executes this step. The role of the broker or sales agent varies from project to project and
depends on the developer’s desires. The relationship can range from an outside brokerage
company to the developer’s in-house staff.

The approach depends on the developer’s capabilities, the property type, and market
conditions. Regardless, the brokerage community inevitably becomes part of the sales
process for any project. Therefore, developing relationships with local real estate agents who
specialize in a specific property type is critical, regardless of whether the developer employs
an in-house sales staff or an outside agency. Successful brokers know about local market
conditions and often have proprietary access to prospects.

When sales and leasing are handled in house, the developer has far more control. But even
with in house sales teams, the developer must maintain a cooperative and productive
relationship with outside brokers, including the commission-sharing structure to provide
appropriate incentives. Brokers are not easily excited by new products unless they are
convinced they can sell the property quickly and easily.

Brokers want assurance that developers will pay full commissions quickly. Timely financial
remuneration of cooperating brokers is the primary reason that agents bring prospects to
developer’s property. To the extent that the developer can help agents build a stronger
relationship with their clients, local agents become more enthusiastic.

The broker relationship must be carefully planned and conscientiously managed. The
developer/owner has ultimate responsibility for the broker’s motivation and success. Critical
to a productive relationship is a well-crafted agreement that establishes performance and
behavioural expectations up front.

Limitations: To measure the quality of work life of an organization it takes a long time. The
organization needs to be helpful and cooperative in sharing the information about its
employees. We are thankful to diligent real estate for providing us with lots of vital
information about its employees but constraint of time and money were two major limitation
of the project. Certain information which they felt to be sensitive was not shared with us.
Hence the survey won't give the real image of quality of work life of the organization. Due to
security reasons the authorities could provide us with vital information.

Industry profile, company profile, product profile:

Industry profile: The real estate sector is one of the most globally recognized sectors. Real
estate sector comprises four sub sectors - housing, retail, hospitality, and commercial. The
growth of this sector is well complemented by the growth of the corporate environment and
the demand for office space as well as urban and semi-urban accommodations. The
construction industry ranks third among the 14 major sectors in terms of direct, indirect and
induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in
both the short term and the long term. Bengaluru is expected to be the most favoured property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.
Market Size:
Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from
US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025. Retail,
hospitality and commercial real estate are also growing significantly, providing the much-
needed infrastructure for India's growing needs.
Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high
demand for office space in recent times. Commercial office stock in India is expected to cross
600 million square feet by 2018 end while office space leasing in the top eight cities is
expected to cross 100 million square feet during 2018-20. Gross office absorption in top
Indian cities has increased 26 per cent year-on-year to 36.4 million square feet between Jan-
Sep 2018. Co-working space across top seven cities has increased sharply in 2018 (up to
September), reaching 3.44 million square feet, compared to 1.11 million square feet for the
same period in 2017.
Investments/Developments:
The Indian real estate sector has witnessed high growth in recent times with the rise in
demand for office as well as residential spaces. Private Equity and Venture Capital
investments in the sector have reached US$ 1.47 billion between Jan-Mar 2019. Institutional
investments in India’s real estate are expected to reach US$ 5.5 billion for 2018, the highest
in a decade.
According to data released by Department of Industrial Policy and Promotion (DIPP), the
construction development sector in India has received Foreign Direct Investment (FDI)
equity inflows to the tune of US$ 25.04 billion in the period April 2000-March 2019.
Some of the major investments and developments in this sector are as follows:

 New housing launches across top seven cities in India are expected to increase 32 per
cent year-on-year by 2018 end to 193,600 units.
 In September 2018, Embassy Office Parks announced that it would raise around Rs 52
billion (US$ 775.66 million) through India’s first Real Estate Investment Trust
(REIT) listing.
 New housing launches across top seven cities in India increased 50 per cent quarter-
on-quarter in April-June 2018.
 In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls
Real Estate for around Rs 900 crore (US$ 136.9 million).
 In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7
million) for its expansion in Gurugram, Haryana.

Government Initiatives:
The Government of India along with the governments of the respective states has taken
several initiatives to encourage the development in the sector. The Smart City Project, where
there is a plan to build 100 smart cities, is a prime opportunity for the real estate companies.
Below are some of the other major Government Initiatives:
  Under the Pradhan Mantri Awas Yojana (PMAY) Urban, more than 8.09 million
houses have been sanctioned up to May 2019.
 In February 2018, creation of National Urban Housing Fund was approved with an
outlay of Rs 60,000 crore (US$ 9.27 billion).

Under the Pradhan Mantri Awas Yojana (PMAY) Urban 1,427,486 houses have been
sanctioned in 2017-18. In March 2018, construction of additional 3,21,567 affordable houses
was sanctioned under the scheme. Post the revival of the Indian real estate sector through a
series of initiatives by the government, the confidence of the homebuyers has increased with
a clear understanding of the market. The developers have also witnessed a smooth regulatory
business process. This development is expected to help increase the cash flow in Indian real
estate sector in 2019. Single window approvals by central and various state governments .

Commercial real estate to boom: There will be a huge scope for the commercial real estate
due to the increasing number of grade-An office spaces for start-ups, co-working places and
e-commerce. IT parks in terms of location and amenities will emerge as an exemplary trend
for commercial real estate growth. Rentals in commercial realty will catalyse growth as
investors tend to rent a commercial space rather than buying it. Also, the increase in
educational institutions in metro cities will drive student housing, which is a huge unmet
demand in the country.

Warehousing to get major boost: Another rising sector is organised warehousing, which has
seen a sharp increase in demand due to advancements in e-commerce. Now, with the
liberalization of FDI policy, demand for warehousing is expected to escalate even more. The
electronic and white goods segment is another key driver, as the need for substantial
warehouses in urban and semi-urban areas will increase. According to an industry report,
India is set to witness investments close to ₹50,000cr for creation of warehousing facilities .
Further initiatives by govt to strengthen industry: The government has announced certain
amendments in the taxation and regulatory features. RERA is streamlining the real estate,
ensuring that the buyer gets full value for his money. The central and various state
governments are announcing single window approvals. GST and the approval by SEBI for
the Real Estate Investment Trust (REIT) have led to greater transparency, and institutional
investors are now looking at Indian real estate with renewed interest. With the advent of the
first REIT in early 2019.

Proptech to be a game changer: The numerous facets of Proptech will be a major driving
force for Indian realty. The technological developments of digital tools in creating virtual and
augmented experiences for the buyers, will add a futuristic scope to the sector. Also, the
advent of chatbots, BIM, drones and next-gen innovations will be highly beneficial in making
construction.
Affordable & mid-market housing to see maximum traction: Home buying sentiments will
shift towards homes with compelling prices over luxurious spaces because of the additional
charges that the luxury properties come with. Hence, properties consisting of amenities and
features of a premium project, which are also affordable to a larger segment of the
population.
Accelerated by the present government measures and other pivotal factors, Indian Real Estate
sector will surely progress with increasing demand in the year 2019
Millennial to bring a demographic shift: Estimates peg that India will have 410mn millennial,
who will spend $330 billion annually, by 2020. Also, their preferences and needs will lean
towards residential projects that have the basic amenities, urban connectivity.

Shrinivas Rao, CEO-APAC, Vestian :The real estate industry in India is going through what
can be described as ‘interesting times'. The industry is seeing policy changes, a lot of
expectations, easing of some teething problems with RERA and GST, a new order of
transparency and efficiency. Here are some of the key expectations from the new year:

Office market to remain steady; co-working to gather strength: Office space absorption will
continue to rise steadily, backed by strong economic fundamentals and favourable sentiments
exhibited by occupiers and investors. Despite the planned supply, healthy pre-commitments
of space in under-construction projects will continue to be the norm, leading vacancy rates to
remain under pressure in key office markets. While IT/ITeS and BFSI companies will
continue to be the major demand drivers, increased demand is envisaged from co-working
and fintech start-ups. Co-working segment is expected to account for a larger share of the
market in 2019, portending a major shift in workspace dynamics with technology, innovative
space design and flexibility, impacting the preferences of new age businesses.

Affordable housing to lead the way: The year 2018 witnessed a fair revival in the residential
market, primarily buoyed by new launches and sales in the affordable housing sector., which
is projected to continue to drive the market growth in 2019, aided by the transparency
brought about by policy implementation, thereby augmenting buyer sentiments and bringing
back investors into the fold. Besides granting of the infrastructure status to the segment, the
government is also in favour of a substantial GST rate cut on housing and is currently
working to build consensus with the states to push this through.

Strong growth in warehousing and logistics sector: The sector has seen a remarkable
transition in the past few years, growing from a largely unorganised sector to observing the
advent of organised players, reflecting change in the mind set of occupiers. The fact that the
sector is observing large-scale investments evidently emphasizes the trend and this is
foreseen to continue. Moreover, with infrastructure status accorded to the warehousing and
logistics sector, accessibility to longer tenure financing facilities at a reduced cost of debt will
aid in the development of larger, organised logistics parks in the country.

Emerging sectors: Recent years have seen the emergence of concepts such as co-living,
student housing and senior living, besides co-working, which have immense potential to grow
stronger in 2019. Millennial today, pay premium on mobility and flexibility and do not
adhere to a fixed set of notions. As such, the growing number of youth willing to consider co-
living spaces in big cities has gained traction, given the steady growth of entrepreneurship
and freelancing. Going forward, while the concept of co-living and student housing holds
significant potential to boost the rental housing segment in the country, given the fact that
high housing prices across the tier 1 and 2 cities deter the youth community to make a
purchasing decision. The inherent advantages of opting for a co-living rental arrangement are
a hassle-free, flexible plug and play model, and the segment is projected to grow manifold.
During last 2-3 years the Realty sector has witnessed an unprecedented sluggishness due to
effects of demonetization and macro policy initiatives such as GST and RERA. The overall
credit squeeze has not helped the situation either. While, policy changes like GST & RERA
were essential, and these would support the long-term growth vision of our economy, these
measures in the short run have led to slow down in the sector. Even then, the organized
players are gradually getting equipped to attend to the intricacies of compliances associated
with GST and RERA. But still, challenges continue to haunt the SME and unorganized
players, who continue to struggle for aligning with the new ground realities. In the first half
of 2018 residential real estate recorded a 25% annual increase in sales in the metro.
Concurrently, commercial realty has also been picking up. In the first half of 2018, leasing
activities of corporate rose 54% y-o-y. As per recent reports, office absorption in 2020 is
expected to exceed 2011's historic high of 37 million sq. ft. While the new growth drivers
would be affordable housing, logistics and warehousing, the expectations are that student
housing will emerge as a ₹2,400 crore markets by 2020."

Rakesh reddy director of aparana construction:

Policies like RERA have revived buyer's confidence, especially in Hyderabad where the real
estate sector is booming, and infrastructure development is catalysing its growth. There is an
increase of 30% in sales of residential units in the city, and unsold inventory has reduced by
nearly 29%. Over the past year, Hyderabad has emerged as one of the best performing
residential and commercial real estate destinations in India, complemented by strong
fundamentals including government stability, infrastructure and economic drivers. The city's
leading position as home to the top IT/ITeS companies has had a direct impact on the city's
immense real estate growth. To keep up with increased migration to Hyderabad, the
Telangana government has invested heavily in the city's infrastructure facilities and
connectivity. Second in the list is Bengaluru with prominent launches in the commercial
space fuelled by steady demand from startups, IT/ITeS sectors, BFSI and co-working spaces.
Pune and Chennai are expected to stay in demand as these markets are a hub for auto
manufacturers and industrial manufacturing units. Mumbai and Delhi will continue to attract
the migrant job-seekers from across states. If infrastructure status is granted to the entire
sector in 2019, it will lead to financing being available to developers at lower interest rates,
which would make projects more affordable. The real estate industry is also expecting Union
Budget 2019 to rationalise GST rates from the current 12% to 6% or alternatively to subsume
the stamp duty into the existing GST rate. Affordable housing and ready-to-move-in housing
will continue to be the focus. Moving forward, developers and approval authorities are
expected to maintain high levels of compliance and efficiency due to RERA. We believe
project approvals to be processed.

Anindya Dutta, Co-founder, and Stanza Living:

The Student Housing sector in India is currently a $15 billion industry. The sector sees robust
demand from nearly 11 million migrating students within the country. However, the space is
largely unorganized, with lack of quality infrastructure and personalized services being
significant gap areas. There has been growing interest and acceptance for technology-enabled
world-class student housing ventures like Stanza Living, which are focused on professionally
organizing and reimagining student co-living in India. Today, we are the largest player in the
space, and have grown from over 100 beds capacity in 2017 to over 2000 beds and 16
residences across Delhi, Noida and Greater Noida. Realizing the potential, marquee global
investors like Sequoia Capital, Matrix and Accel Partners have invested $12 million in Stanza
Living. In 2019, we will be expanding to educational hubs like Bengaluru, Pune, Hyderabad,
Chennai, Dehradun, amongst others.

Irfan Razack, CMD, Prestige Group:

The real estate market has proved to be resilient in 2018. Despite witnessing several major
policy changes with the implementation of RERA and GST, we have still managed to do well
as an industry. There is stress in certain quarters, but developers who are established and
show commitment to corporate governance and transparency, are succeeding. With GST and
RERA stabilising, the real estate sector is on the cusp of a complete makeover. Buyers and
developers have reconciled themselves to the additional costs, and the market is set to witness
further growth. There are been several new launches, rents have gone up, and the commercial
sector has been thriving with close to zero vacancy rates. In 2019, we expect much better
sales and revenues, and the residential market is expected to grow significantly. Affordable
housing is the need of the hour. Luxury housing being a niche market, witnesses a slower
momentum. Given that there is quite a lot of inventory in the market currently, luxury
housing will continue to move slowly. Depending on the supply that comes in, the market
will start stabilizing across all segments of housing.

Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty & Infra:

The year 2019 will be a period of huge consolidation for the Mumbai real estate sector. The
recent IL&FS crisis did have an impact on the real estate sector, but it now seems to be
tapering off. We will see a lot more joint developments wherein larger players will develop
properties with smaller developers or land owners. There are numerous projects stuck due to
lack of capital and funding options. Larger developers bring in the required capital to
complete such projects. This equation works well in the current market scenario where there
is a paucity of funds to complete construction of existing projects. 2019 will surely be the
year for affordable and mid-housing segment. Also, category ‘A’ developers with a good
track record do not face much problem getting funds through banks or financial institutions.
These developers prefer developing larger projects as they are financially strong and can
procure the desired funds. Larger projects also give developers the necessary flexibility for a
more sustainable business model such as mixed-use development, which includes residential,
commercial, retail and hospitality.

Anurag Mathur, CEO, Savills India:

The residential sector has gone through a process of significant restructuring and reform, the
foremost being the advent of RERA, and as such the worst may be behind with a more
modest and sustained recovery over the next several years. For the Office sector, 2018 was
one of the best years. Several key cities recorded highest levels of rent and lowest levels of
vacancies, even though the office stock availability varies significantly, such as Grade A
office stock in Bangalore is at 3.5% vacancy levels while Mumbai is at 17% and Delhi NCR
at 29%.The Industrial and Warehousing sector will continue to be the biggest beneficiary of
the GST regulation due to simplified tax regime, faster movement of goods and warehouse
consolidation. Investment in real estate has demonstrated a CAGR of 40% over the last 5
years. Larger component of this investment still is directed towards the Residential sector
(36%) with Offices (31%) and Hotels (12%).Concept Of Real Estate Marketing The concept
of real estate marketing has significances on the second floor: First, the purpose of the real
estate marketing is to meet consumer demands for real estate itself, thus enterprise marketing
mainly is a marketing for consumers as the centre, only in this way can lead the development
and progress of the real estate enterprise marketing. Second, the real estate market demands
include actual demands and potential demands, real estate enterprises should not only see the
actual demands, should see more potential demands. Characteristics of Real Estate Market
the essence of real estate is a commodity, having shown. That it has the characteristics of this
commodity markets generally in common. In addition, the real estate market has its own
characteristics, the real estate market can be thought as a relatively independent market
system and of having the characters that are different from other products. Regional Real
Estate Goods Real estate belongs to real estate, this makes the real estate products bound by
the city and area. The supply and demand and price level of real estate products are affected
by local regional economic development, consumption level, customs and culture, etc. So
different cities because of the different economic development level, also have a significant
difference between supply and demand and price levels. Three line city real estate prices are
relatively low, the supply is greater than demand. Cycle Volatility of Real Estate Market The
investment cycle of Real estate and economic cycle have a strong positive correlation, the
correlation coefficient is 0.86. In the gradual development process of real estate industry, its
development largely depends on the cooperation with other industries, the periodical change
of three line city real estate market shows that the general trend of economic development of
the city.
Company profile:

DILIGENT ENTERPRISES
NAME

PROFILE Diligent Enterprises is one of the Leading Authorized real estate

OF THE consulting Partners based in Bangalore. The company was established in
COMPANY the month of May, 2018. Diligent Enterprises is an endearing outcome
of our Directors, Mr. Raghu Panchmukhi and Mr. Vivek Singh, both
compelled by their entrepreneurial spirit have together with the small yet
proficient team has surpassed many hurdles, thus, achieving the
unexpected with each progressive years. A pioneer property consultant
we are privileged to be associated with Developers and many more
reputed associates for home loan and home interior. We are looking
forward for more opportunities in Bangalore and other cities in India.
The company, here, value both professional & personal relation making
an effort for Growth at both ends in all visible terms and much willing to
grow our networks in prevailing corporate market globally, also making
it flexible for Non-Resident Indians (NRIs), to feel like Home. We
promise and allow our clientele to select the best property via unbiased
reviews with a modest analysis. The company mostly deal with
residential, home loan assistance, home decor & interiors

FUTURE Plan to have at least 50 employee

PROSPECT
Plan to generate more revenue
S
Plan to get more and more mandate projects

Plan to become one among the top 10 real estate consultants

Organisational design:
Real Estate Marketing The real estate brokerage business is a strong traditional service
agency that conveys market information for facilitating trading of the product (namely, real
estate developments) within a highly inefficient market and mechanism Various scholars
have examined the subject of real estate marketing (agency) from different perspectives.
Pheng and Hoe (1994) examined the important attributes for real estate marketing. The study
which was questionnaire-based identified twenty two (22) attributes. It was found in the study
that ability to provide good service, good track record, dedication and total commitment,
ability to achieve defined results and professionalism in dealings are the top most driving
attributes of the agency firms for real estate consultancy. Qualified and experience team, big
client base, ability to achieve desired results, dedication and total commitment are rated high
as the attributes that influence the developers’ choice of appointing an agent. The study
further concluded that consistent with the marketing mix concept for the marketing of
services, the developer rates ‘people factor’ as a very important attribute which real estate
agency firms should possess. The “people factor” includes the marketing team’s dedication
and total commitment, their ability to achieve desired results, their experience and
qualifications as well as their professionalism in handling deals. Li and Wang (2006)
examined the emergency of the current structure of the real estate agency businesses in
Beijing in the age of information technology. The study which adopted analytical framework
developed under the Grounded Theory Model showed that the impact of information
technology does not pose a threat to agents in Beijing, however, the agents work to increase
the competitive advantages by inducing more collaboration and market innovations. Jud and
Roulac (2001) in their study revealed the features of unethical practices in agency in the
forms of multiple listing, disrespect of agency regulation, rise of fee for service pricing. The
study revealed that the elements of no-service quality may be because of little or no entry
barrier. The proliferation of various marketing strategy can also be attributed to the advent of
the internet as posited by Nissen (1995), and Li and Wang (2006), that the roles of a service
agent on the internet is classified as that of a watcher agent, learning agent, shopping agent,
information retrieval agent and helper agent. However, the aspect of online real estate
marketing is a ripe area to explore in Nigeria to identity the challenges confronting the
practising ESVs. Xu et al (2010) put forward a novel approach to describe the changing
situations of the Chinese real estate market by means of Chinese Real Estate Confidence
Index called CRE index, which is synthetically calculated based on its three sub-indices to
reflect the three different aspects. The study served as a generic indicator to reflect changes in
the Chinese real estate market, the CRE index provides all stakeholders with a quantitative
method to verify history and detect tendency with regard to the progressive development of
the market which is influenced by dynamic social and national conditions. Bjorklund et al
(2006) study, investigated whether or not the offer price affects the transaction price and the
number of days the property is on the market. The study which adopted hedonic model
indicated that a high offer price is more likely to result in a high ratio of transaction price to
expected price compared to allow offer price. The study further affirmed that the overall
conclusion is affected by the states of the market, that is, whether the market is static, rising
or falling. European Journal of Business and Social Sciences, Vol. 4, No. 04, July 2015. P.P.
25 - 40 URL: http://www.ejbss.com/recent.aspx-/ ISSN: 2235 -767X EUROPEAN
JOURNAL OF BUSINESS AND SOCIAL SCIENCES 30 In the study conducted by Livette
(2006) on a marketing perspective of private sector retirement housing and the effectiveness
of the buyer behaviour of its purchasers, the decision-making process of purchasers were
examined and sought to determine effectiveness by comparing and contracting some of the
data obtained. The findings demonstrated that the majority of retirement housing purchasers
undertake limited decision-making; they consider only the scheme in which a property is
eventually bought, and they are very satisfied with their purchases. Iroham et al (2011) posit
that in real estate agency practice, where the market is fraught with dearth of information, the
role of the estate agent cannot be overemphasized particularly in bringing together parties of
divergent interest in attaining specific goals. The authors surveyed 159 estates surveying
firms and 91 property development companies in the commercial nerve centre of Lagos and
indicated that multiple agency is mostly adopted in Nigeria real estate practice. The study
consequently advocated for the modification of agency practice to eradicate all inefficiencies
by safeguarding the interest of all parties. Munneke and Yayas, (2001) confirmed that the
differences among brokerage firms and/or their agents suggest the possibility that some
homes sell at premium prices and over a shorter time horizon than is the case with other
broker-assisted transactions handled by less skilled or motivated agents. In the research
conducted by Ke et al (2008), the performance of an estate agent is attributed to market
environment volatility such as market uncertainty, housing market liquidity and house price
changes. The study hence concluded that the size of a firm does not determine business
performance and that there is need for enhancing, through training, the skills of estate agents
in Nigeria per effective service delivery. Araloyin and Ojo (2011) revealed what real estate
consumers in estate agency practice prirotise in Lagos metropolis which include courtesy,
provision of service as promised, frequent communications, exact time services would be
performed and personal attention. This implies that quality is expected in real estate services.
Considering the strategies in real estate marketing, it is important to state that marketing is
the skill of matching the needs of a buyer with the product of a seller, for a profit. It is true to
say that development property used to be a soft-sell product. In the light of this, it is ethical in
Nigeria to erect bill board and place an advertisement. Nowadays, however, those marketing
property developments are faced increasingly with a highly competitive and discerning
market and one that demands better information. The days of certain markets, easy lettings
and malleable tenants have gone, and for the foreseeable future they unlikely to retain
property as a product has become more difficult to sell and those responsible for selling it
require bringing a higher degree of professionalism to the market. (Araloyin and Ojo, 2011).
This implies that property service is tasking if an agent is to claim any achievement. In
accordance with the codes of conduct of NIESV (2005), the following approaches are
allowed in real estate marketing: site or bill boards, direct marketing, press marketing,
brochure/bulletin and personal contact ethically.

MARKETING DEPARTMENT:
Since diligent is the startups company of real estate marketing ,they have a very minimum
employees and they carry out their marketing strategies effectively to give competion to the
other marketiors and do their Marketing effectively to gain much results
The below once are the basic marketing strategies made to sell their products effectively:
1.professional rendering is ideal for specific types of marketing:
Often a photograph does not replicate as well in the newspaper as does a sketch. A rendering
or sketch is crisp and clear and presents much better than a photograph printed on the pages
of a black-and-white newspaper, not to mention the good possibility that it might smudge. A
sketch is also an excellent way to market a property even before the exterior has been painted
and the garden landscaped. It’s easy for the illustrator to embellish the — let’s say — white
flowers, even before they are planted.

2. Property-specific websites are key. Each property should have a website with its own
dedicated property-specific Web domain or address, such as www.123MainStreet.com. The
goal is to make it easy for both buyers and agents to locate.

3. Professional photography is imperative.

Each listing, no matter the price point, should utilize professional photography. Photographs
draw people in or will turn people away. Professional photographs can be used online,
featured on the company website, on a personal website, on a multitude of Internet platforms,
and utilized extensively in social media, as well as in brochures, fliers, blogs, postcards,
editorials and a variety of print advertising, marketing, branding and more. Maintaining a
property library is another reason to hire a professional photographer because it is important
for future marketing. In the bustling, hectic world of the Internet and the vast impact of social
media, both are non-negotiable tools. Proper, luxurious and high-quality advertising is
imperative to an agent’s brand and the portrayal of the property they are marketing.

4. Print marketing should not be overlooked.

Print marketing utilizing professional photography is also vital. Just listed and just sold
postcards, quarterly market reports customized for a particular neighbourhood and other
image-rich and colourful brochures are key to creating and maintaining a professional brand
no matter the price point. Multiple listing sheets printed on low-quality copy paper should
never be used in brochure boxes attached to a for-sale sign instead of a glossy brochure.
Keeping your brand consistent is crucial. Print marketing is also critical to reach those who
do not use the Internet. My mom, for instance, does not email or surf the Web, so print is still
important, alive and well, even in today’s high tech-world.

5. Internet marketing is a must.

A well-presented online presence is key to reaching the masses, so be sure what you put out
on the Internet is not only beautiful, but intrigues and interests your audience so that they
linger a little longer, share your information, or message and visit again. Research and
development planning will define the target markets and audiences for your project. As you
proceed to the promotions program it is crucial that you have identified the target audiences
and understand what you have to offer and what you must communicate to them. This matrix
is the place to codify the audiences and establish the actions and messages that will influence
them in favour of your project.

6. CRM:

Customer relationship management began in sales and has over time trickled down to the real
estate, facilities and workplace community. Some companies explicitly acknowledge the need
for customer relationship management, while others ponder on the cost versus benefits. While
many companies have instituted some form of CRE/W CRM (63 percent), only 22 percent
have dedicated CRMs with no operational responsibilities. Interestingly, more than 25
percent of the survey respondents indicated that they did not have any formal CRM capability
or ascribed the responsibility to the department head.

CRM is about customer service and ensuring consistent satisfaction through each transaction
experience (i.e., a move, a work order, etc.). At the strategic level, CRM has the ability to
elevate real estate and workplace topics to the C-suite or divisional leadership levels, by
maintaining an on-going dialog with senior management and promoting the value added
impact and lever that is the workplace. To operate at the strategic level requires senior
individuals with deep credibility and experience to translate the issues in ways that will
resonate with the C-suite and divisional leaders.

Depending on the nature and complexity of a company’s operating model, CRE/W CRM may
be deployed in different ways. Leaner CRE/W organizations tend to embed the CRM
function as part of an operational role, with designated CRM responsibilities (survey
indicates that only 3 of 26 organizations with 25,000 or less employees have dedicated
CRMs). While larger, more complex organizations may have dedicated assigned roles to
single or multiple customer groups. Regardless of the structure, it is critically important to
define the competencies, skill-sets that the CRM needs to possess and also the processes and
activities that would be conducted on a regular basis. In some cases, CRM is structured at the
shared-services level, as part of an on-going effort to streamline administrative tasks for the
front-line business groups. In the case of a centralized, shared services level CRM model, the
CRE/W function will need to provide subject matter expertise and be brought to the senior
management discussions for strategic advice about real estate and workplace levers,
opportunities and options. So, how do you know that CRM truly brings benefits to CRE/W
management? Based on recent “Voice of the Customer” discussions, we know that customers
value, to the extent possible, a single point of accountability. More often than not, the
customer perspective has been “If it’s not broken, then I don’t need to deal with it. And if I
need to deal with it, don’t ask me to navigate the organization of the CRE/W department.
Give me one person to speak with who can answer my questions and get the work done.

Positioning : positioning is the most common positioning strategy. Issues that differentiate a
property can be all manner of things, but they must directly benefit target audiences. Larger
floor plates, better amenities such as concierge service or fitness facilities in a commercial
project, or recreational amenities and open space in a residential project may be the strengths
on which a development can be distinguished from the competition. In a highly competitive
market, too often price is the only point of differentiation.

Repositioning: is the process of taking an existing product and turning it into something new
or different. Given the accelerating rate of change in our society, repositioning becomes an
important development strategy that allows an existing property to adapt to a new use and
continue to be viable.

Finding an unnerved or underserved niche: in the market and filling it is another method of
positioning. Niches can include very specific types of property to serve the special needs of
distinct buyers and users. Virtually every class of real estate can be positioned according to
the niche it occupies. In recent years, a wide variety of niche retail formats such as family
entertainment centres and high-end specialty outlets have offered strong competition to
standard regional, neighbourhood, and convenience shopping centers. Many niche hospitality
markets have been identified, including luxury, resort, urban, boutique, economy, destination,
and ecological.

Branding: is the process of endowing qualities in the project that create value and
expectations in the mind of the prospect. Branding builds on visual identification. It is about
name and product recognition, predictability; and creating and meeting expectations. The
most often cited definition of branding is “a promise.” To that end, branding adds consistent
and controlled behaviour to visual identity. Great brands must deliver products and services
with a degree of consistency that allows customers to have their expectations met. Because of
the diverse and varied nature of real estate, consolidation in the real estate industry has seen a
trend toward branding the new, larger companies formed rather than trying to establish a
brand through the project.

Organisational Culture: Culture, at the workplace, is a very powerful force, which is

consciously and deliberately cultivated and is passed on to the incoming employees. It is the
very thread that holds the organization together. Cultural dimensions have been extensively
reported to influence strategic management of firms. The body of knowledge on the topic
underlines that there is no single or correct definition of culture, resulting in a wide variety of
cultural dimensions and operational frameworks used by empirical studies. An important
distinction has been made particularly with regard to national culture and organizational
culture. As management is “getting things done through other people”, understanding the
background, and consequently, culture of these people is paramount to the competitive
advantage of the firm .We do not particularly focus on the definition of culture, however,
acknowledge the clear distinction between national and organizational cultures and focus on
the latter. The official introduction of the term “organizational culture” is often attributed to .
Who used the strong foundations of meaning through symbols, beliefs, visions, ideologies
and myths for the purpose. Subsequent empirical work has mainly focused on organizational
culture and general strategic management.  For example, investigates business strategies
through different industry sector case studies from large multinational merger and
acquisitions to show how organizational culture differences were addressed to ensure
business continuity and innovation. Subsequent to the wide acceptance of organizational
culture theories, a need for assessment of this “new” organizational quality concept emerged
particularly in the 1980s and 1990s. Among the most cited studies are the work
of Hofstede et al. (1990) who investigate a set of 20 organizations in The Netherlands and
Denmark via in-depth interviews with 180 representatives and a detailed survey of 135
questions for which 1,295 questionnaires were obtained. The key outcome of the study is a
six-dimensional model for the definition of culture resulting from factor analysis of the
original survey component scores. The authors particularly emphasize the usefulness of
quantitative assessment of concepts generally perceived as “fuzzy” such as the case of
organizational culture. This need for quantification has led to the development of alternative
assessment tools among which one of the most widely used is the Organizational Culture
Assessment Instrument (OCAI) (Cameron and Quinn, 1999, 2006).The OCAI originates from
the competing values framework which is based on a comprehensive set of 39 indicators
representing different measures of organizational effectiveness (Campbell et al., 1974). In
subsequent studies, these indicators were reduced to two major dimensions through factor
analysis. One dimension differentiates effectiveness criteria focusing on stability, order and
control from those that focus on flexibility discretion and dynamism. Especially in the real
estate industry . It is therefore critical for the real estate firm to adapt a culture that increases
employees’ productivity and thus enhance the performance in the industry. This is because
organization’s culture determines whether a company can attract and keep the best employees
and whether in confusing situations, the employees know how they should behave.
 Organisational change:
 Nearly three-quarters of real estate pros believe culture is “very important” to a
company's financial success.

 Close to 60 percent of real estate pros said they were “very happy” with the culture of
their company, which they were likely to describe as “positive” and “agent-first.”

 The freedom to work in different settings with flexible hours (without compromising
regular communication with management) is shaping strong cultures today.

 Brokerage leaders must work to attract agents to networking and training events to
maintain a healthy culture.

 Management must lead by example and suit their actions to their words and values

SWOT analysis:
A SWOT analysis is a benchmarking process used to inventory all internal and external
attributes of a project, both positive and negative. It delineates the internal strengths that can
have a favourable influence and potentially be incorporated into a positive presentation of the
development as well as weaknesses that must be overcome. The analysis identifies external
opportunities and threats that are beyond the developer’s control but can potentially affect the
development’s viability.
The SWOT analysis also identifies values and virtues of the development that can be the
focus of the marketing program and reveals the deterrents and obstacles to the project’s
success. It should result in a complete inventory of all factors, internal and external, that
influence the marketing of the project. The SWOT analysis will drive the vision for the
property and become an important resource in formulating its story.

SWOT Strengths Weaknesses Opportunities Threats

Strengths : Though the company is still a start-up company and hardly one year old ,it has
done good number of sales and has performed well in terms of branding ,promotions
,compared to other real estate marketing consultants who are with a similar kind of startups
with a small team ,the team has generated good amount of revenue to the company which is
why the company is still surviving on the revenue. The company has a very good sales
team ,and the team has very good consulting capabilities to all type of customers.

Weaknesses: The company is failing in terms of expanding a team and making a good
hierarchical structure for the company itself , though the management team is very well
worse in real estate business the developers doesn’t trust to give a mandate projects to the
startups company . The company is not branding themselves to be recognised by the
developers to give them a mandate projects . The company is not willing to spend much on
the employees and expecting many revenues to be generated. The company is highly
dependent only on one stream of business that is selling a mandate projects .

Opportunities : In coming years it has got an good opportunity in terms of expanding a team,
and generate revenue in a large scale to the company ,though the company is not well
recognised unlike other realtors it has got an opportunities to have more projects in coming
years and generate good revenue and give more and more employment to the people and
good benefits to the their in-house team .it has duel got an opportunity in their stream of
business i.e. in interior designing ,home automations, home loans etc..

Threats :The Company has got a threat that it has got good competitors in the same stream of
business . the company might not get always an mandate projects which would be a very big
challenge to survive .Other consulting company might descale our consulting team which is
again a huge loss to buy a services from us.

SUMMARY OF FINDINGS:

Diligent enterprises is the startups company which deals with real estate marketing firm
,Real estate marketing makes a distinction between promotions and sales. Sales represent the
step in the marketing process where an interested prospect has been identified and needs to be
converted to a buyer or tenant. A broker or sales agent typically executes this step. The role
of the broker or sales agent varies from project to project and depends on the developer’s
desires. The relationship can range from an outside brokerage company to the developer’s in-
house staff.
The approach depends on the developer’s capabilities, the property type, and market
conditions. Regardless, the brokerage community inevitably becomes part of the sales
process for any project. Therefore, developing relationships with local real estate agents who
specialize in a specific property type is critical, regardless of whether the developer employs
an in-house sales staff or an outside agency. Successful brokers know about local market
conditions and often have proprietary access to prospects.

When sales and leasing are handled in house, the developer has far more control. But even
with in house sales teams, the developer must maintain a cooperative and productive
relationship with outside brokers, including the commission-sharing structure to provide
appropriate incentives. Brokers are not easily excited by new products unless they are
convinced they can sell the property quickly and easily .Brokers wants assurance that
developers will pay full commissions quickly. Timely financial remuneration of cooperating
brokers is the primary reason that agents bring prospects to a developer’s property. To the
extent that the developer can help agents build a stronger relationship with their clients, local
agents become more enthusiastic. The broker relationship must be carefully planned and
conscientiously managed. The developer/owner has ultimate responsibility for the broker’s
motivation and success. Critical to a productive relationship is a well-crafted agreement that
establishes performance and behavioural expectations up front.

Suggestion and conclusion:

1. Firstly would suggest expanding the team by investing more on the employees so that a
good performance would result in making a good profit.

2. Invest in the profit made by the company in to different streams of the same sector ,as in
expansion in to ,interiors ,home loan ,and automations etc..

3.Take more and more mandate projects at a time ,it can happen only if the team is big.

4. Flexible working hours to be provided during weekdays ,since the industry is more
effective in weekends.

5. Providing a good salary package would motivate the employee to perform better and also
earn good amount of incentives
6.Providing employees on time incentives would motivate the employee to perform even
better and generate good amount of revenue to the company

7.Providing a basic employee benefits like health insurance would be good for a startups
company.

8.Organization should make sure that the dissatisfaction level does not rise.

Conclusion :By doing an organisational study with diligent enterprises for 1 month ,it gave
me an opportunity to learn about basic functioning of how an real estate marketing consultant
work ,and i also observed how to close a deal ,by doing internal activities like CRM
handling ,following up with prospect client ,doing sales strategies and analysing the needs of
the client to full fill their requirement and suggest them a good product at the end ,by giving
an sales pitch over a call and also fix them a site visit ,which was over all a good learning
environment that was created by diligent enterprises sales team .thanks for the team for
giving me an hands on experience and providing me an good opportunity to learn as an MBA
fresher.

Bibliography:
Websites:
1) http://diligententerprises.in/
2) https://in.linkedin.com/in/vivek-singh-454a5042
3) https://www.grantthornton.in/globalassets/1.-member-
firms/india/assets/pdfs/realestate_annual_handbook_2018.pdf

E-JOURNALS:

1) Marketing Real Estate An Urban Land Institute Workshop ,April 22, 2011GNU
Group Strategic Marketing Real Estate Branding Communications Design, By
Richard Burn