Prittle Prattle News in conversation with Mr. Manik Anand, CEO of White Knights Realty
As the CEO of White Knights Realty, Manik Anand comes with more than 12 years of experience in the real estate industry. He started his career by joining his family business, Kala Niketan, from 2006–2010. As a result of his extensive retail experience, he formed Estate Managers and Consultants (EMAC) in 2010, a firm offering real estate advisory services. His ardor and unremitting action, combined with his lean management approach, enabled him to furnish the indispensable strategic solutions requisite for successful real estate portfolio management firms.
After his tenure as the Centre Head for Sales and Marketing at BOP in 2020, post-pandemic, he had the idea to rebrand their consulting services, leading to the creation of White Knights Realty as it stands today.
Being a part of the industry for more than 12 years, he perceives the loopholes existing in the industry. White Knights Realty was incepted with the zeal to guarantee the overall investment success of investors and end users. Investors worldwide now have access to a comprehensive suite of services ranging from search and discovery to loans, rentals, possession, and excellent after-sales services.
Tell us more about the range of products and services White Knights Realty can offer. What is unique about White Knights Realty’s business?
What makes a real estate company unique depends on its target market, geographic location, and business model. We at White Knights Realty stand out from the crowd because we offer the following:
- Specialization in a particular type of property or market segment, such as luxury homes or commercial real estate
- A focus on providing exceptional customer service or innovative technology solutions
- A commitment to sustainable and environmentally-friendly practices in real estate development and management
- A mission to support community development or social causes through their business practices
Evolution in the past few years in the real estate industry
The real estate industry has seen significant changes and disruptions due to technological advancements, shifting consumer preferences, and economic and regulatory factors. Some key trends and developments that have affected the industry include:
- Technology: We at White Knights Realty have embraced technology to stay competitive by streamlining transactions, enhancing marketing efforts, and providing better customer service.
- Changing consumer preferences: We have adopted a more customer-centric approach to meet these evolving demands of buyers and sellers.
- Sustainability: The focus on sustainability has grown recently, with many consumers and businesses seeking to reduce their environmental impact. We also have responded by offering eco-friendly properties and implementing sustainable practices in their operations. We also prioritize sustainability in their business practices.
- Economic and regulatory factors: Changes in interest rates, tax policies, and zoning regulations can affect property demand and shape the properties in order. We adjust our strategies to adapt to changes in the market.
Four Business-to-Consumer Success Factors in the real estate industry
Several critical success factors can help business-to-consumer (B2C) companies thrive. Here are four crucial factors:
- Reputation and Branding: B2C companies in real estate should prioritize building a strong brand identity, emphasizing their unique value proposition, and differentiating themselves from competitors.
- Customer Experience: Customer satisfaction can be achieved through personalized interactions, streamlined processes, and timely communication.
- Digital Presence: Companies embracing technology and digital marketing tools will have a significant advantage over those not.
- Market Knowledge and Expertise: Companies seen as experts in their field are more likely to win the trust and confidence of clients, including knowledge of market trends, property values, and regulatory requirements.
How did the company raise funding, or are you looking forward to the same?
As of now, our firm is completely bootstrapped. In layperson’s terms, we entirely rely on the personal capital brought in by our CEO and the revenue we generate. We are always looking for the right partners who will aid us in accelerating our growth.
Explain B2C Outlook: Post Covid-19 Scenario by 2030
Due to the widespread adoption of remote work and changing living preferences, a change in the B2C outlook for the real estate sector in the post-COVID-19 scenario is anticipated by 2030. Here are some potential changes to the B2C outlook for the real estate industry:
- Increased demand for suburban and rural homes: There has been a trend towards moving from urban areas to more spacious suburban and rural areas, likely to continue post-pandemic, with more people prioritizing larger homes with outdoor space and access to nature.
- Virtual tours and remote sales: Real estate companies will continue to invest in technology to provide buyers with the ability to view properties remotely and make informed purchase decisions without physically visiting the property.
- The continued growth of PropTech: The pandemic has also accelerated the adoption of PropTech, which includes technologies such as virtual and augmented reality, artificial intelligence, and intelligent home systems. These technologies can help enhance the buying experience for customers and provide more personalized and efficient services.
- Greater focus on health and wellness: The pandemic has heightened awareness of the importance of health and wellness. This is expected to translate into greater demand for properties prioritizing these features. This could include air filtration systems, outdoor space, and access to amenities like gyms and wellness centers.
- Increased competition among real estate companies: As the industry continues to shift and adapt to the post-pandemic world, there will likely be increased competition among real estate companies to provide innovative and personalized services to customers.
Why did you choose this industry over any other space?
- Long-term value can appeal to companies looking for stable, long-term growth.
- Tangible asset: Owning property can also provide stability and permanence that is appealing to many companies.
- Diversification: Investing in real estate can help diversify a company’s portfolio and spread risk across different asset classes.
- Income generation: Real estate can generate income through rental properties or other forms of property income, providing a steady source of revenue for a company.
- Economic stability: The real estate industry has predictable growth patterns that can attract companies.
Do you like participating in CSR initiatives, and what motivates you?
Participating in CSR initiatives allows real estate firms to give back to the community and make a positive impact. As a business, White Knights Realty is responsible for contributing to the well-being of the society in which we operate. By participating in CSR initiatives, we can address critical social and environmental issues and make a tangible difference in people’s lives.
Could you elaborate on the challenges you encountered while establishing and retaining?
- Market fluctuations: The real estate market is highly cyclical, with periods of growth and contraction. This can make it challenging for real estate companies to forecast demand and adjust their business plans accordingly and accurately.
- Financing: Real estate projects can be capital-intensive, requiring significant funding to acquire properties. Obtaining financing can be difficult, especially during periods of economic uncertainty.
- Competition: The real estate industry can be highly competitive, with many companies vying for the same properties and customers. Real estate companies must differentiate themselves from their competitors to stand out.
- Regulations: Real estate is subject to various local, state, and federal laws that can be complex and time-consuming to navigate. Real estate companies must stay up-to-date on these regulations to avoid penalties and compliance issues.
- Maintenance and upkeep: Real estate properties require ongoing maintenance and care to remain in good condition. Real estate companies must invest in these activities to retain the value of their properties and attract customers.
- Economic factors: Real estate is closely tied to the overall economy, and economic factors such as inflation, interest rates, and employment levels can significantly impact the demand for real estate properties.
- Market saturation: Depending on the location and type of property, the real estate market may become saturated with available properties, making it more challenging for companies to find buyers or tenants.