From Hospitality to Real Estate: Elston Dias’ Journey
Business Background:
Elston Dias embarked on his real estate career following a serendipitous conversation with a builder, who encouraged him to explore the industry’s intricacies. This encounter sparked his curiosity and led him to dive headfirst into real estate. Despite his relatively short tenure of 18 months in real estate, Elston brings a wealth of experience from his extensive background in the hospitality industry. His previous roles at esteemed organisations like Lemon Tree Hotels, Taj Vivanta, Make My Trip.com, Dnata in Dubai, and Happyeasygo.com have equipped him with valuable insights and skills that seamlessly translate into his real estate ventures. This diverse experience has provided him with a unique perspective on customer service, project management, and strategic planning, all of which are crucial in the competitive real estate market.
Specialising in a diverse range of properties, Elston’s business focuses on under-construction apartments, villas, and AirBnB investment projects. He also deals with ready-to-move or near-completion projects, as well as commercial spaces and shops. His comprehensive approach ensures that he can cater to various client needs, whether they are looking for residential or commercial investments. This versatility allows him to offer tailored solutions to his clients, ranging from individuals seeking a dream home to investors looking for lucrative opportunities. By leveraging his extensive network and industry knowledge, Elston has built a reputation for delivering exceptional value and service.
Market Analysis:
Elston describes the current real estate market in his area as one of significant appreciation, particularly in North Goa and the regions extending towards Mopa Airport. This area experiences substantial growth every six months, driven by post-COVID dynamics and an increased interest in second homes. The surge in AirBnB projects has also transformed property owners into entrepreneurs, further stimulating market activity. This growth is not only a testament to the region’s attractiveness but also reflects broader trends in lifestyle changes, where individuals seek retreats and investment properties away from urban chaos.
Looking ahead, Elston anticipates that modern trends like second homes, quick buy-and-sell opportunities, and AirBnB projects designed for monthly returns will continue to shape the industry. These trends promise substantial returns on investment within a short period, making real estate an attractive option compared to other industries. Moreover, the desire for lifestyle changes and owning fancy properties will likely drive more people to invest in real estate. This shift towards experiential living and asset diversification is expected to sustain demand and drive further innovation in the market.
Elston identifies several emerging neighbourhoods that present excellent investment opportunities. Areas such as Tivim, Bicholim, Mopa, Dhargal, Satarda, and Dodamarg are witnessing rapid appreciation and are becoming increasingly attractive to investors. These regions are gaining attention due to their potential for growth and development, making them ideal for property investments.
As infrastructure projects and connectivity improve, these neighbourhoods are set to become new hotspots, offering both lifestyle and investment advantages. Elston’s strategic focus on these areas demonstrates his foresight and commitment to providing clients with high-growth opportunities.
Clientele and Marketing:
Elston’s primary clientele comprises a mix of investors familiar with Goa, commercial clients looking to expand their investments, and local Goans interested in acquiring second homes. First-time homebuyers also play a significant role, especially when they encounter a trustworthy real estate professional who can guide them through the buying process. This diverse clientele underscores the broad appeal of Elston’s services, catering to various segments of the market with tailored solutions that meet specific needs and aspirations.
To attract clients, Elston relies heavily on digital marketing strategies. Approximately 83% of his business is generated online through various apps, social media platforms, and online communities. Offline networking and partnerships contribute the remaining 17%, with references, referrals, and participation in business communities like BNI, Rotary Club, and Goa Dimensions playing a crucial role. This multifaceted marketing approach ensures a wide reach and effective engagement with potential clients, leveraging both modern technology and traditional networking.
Maintaining relationships with past clients and encouraging referrals is an essential aspect of Elston’s business strategy. He regularly posts updates about new offers, project developments, appreciated property values, and stunning interiors. This ongoing communication keeps clients engaged and informed, fostering long-term relationships and encouraging repeat business and referrals. By creating a continuous loop of engagement and value addition, Elston ensures that his clients remain loyal and satisfied, enhancing his reputation and market presence.
Operational Efficiency:
Efficiency in real estate transactions is paramount for Elston. He ensures clarity and transparency between buyers and sellers, making sure that all aspects of the transaction are understood by both parties. This approach builds trust and minimises the risk of misunderstandings or disputes, fostering a smooth transaction process. To manage business operations effectively, Elston utilises property management apps, maintains prompt communication with clients, and conducts frequent follow-ups. These tools and practices help streamline operations, enhance client satisfaction, and ensure timely and accurate service delivery.
Administrative tasks and paperwork are streamlined with the help of technology. By minimising paperwork and maximising the use of digital tools, Elston ensures that essential documents such as bills, brochures, plans, and layouts are easily accessible and organised. This approach not only enhances efficiency but also allows for faster and more accurate processing of transactions. By leveraging technology, Elston can focus more on client engagement and strategic planning, rather than being bogged down by administrative tasks.
Legal and Compliance:
Compliance with real estate regulations and laws is a top priority for Elston. As a RERA-registered agency, he adheres to all regulatory requirements and follows the builder’s flow process to ensure compliance. In the event of legal issues or disputes, Elston relies on his legal team to provide expert guidance and support. By ensuring clarity, trust, and written acknowledgments between parties, he minimises the likelihood of disputes and fosters a smooth transaction process. This meticulous approach to compliance not only protects his business but also instils confidence in his clients.
While there have been no significant recent regulatory changes impacting his business operations, Elston is aware of the challenges posed by delayed payouts. Addressing these challenges promptly and maintaining open communication with clients helps mitigate their impact on business operations. By proactively managing potential issues, Elston ensures that his business remains resilient and adaptive, capable of navigating regulatory complexities with ease.
Networking and Partnerships:
Networking is crucial to Elston’s success in the real estate industry. Building and maintaining professional relationships within the industry enhances credibility and establishes a strong presence in the market. He actively participates in social communities, collaborates with other professionals such as lawyers, mortgage brokers, and architects, and invests in partnerships that enhance his services. These relationships enable Elston to offer comprehensive solutions to his clients, covering all aspects of real estate transactions from legal and financial to architectural and interior design.
Elston’s strategy for building and maintaining professional relationships involves active participation in industry events, collaboration on projects, and continuous investment in social communities. By fostering these connections, he stays informed about industry trends, shares best practices, and offers enriched experiences to his clients. This network-driven approach not only enhances service quality but also ensures that Elston remains at the forefront of industry developments, capable of delivering innovative and effective solutions.
Adaptability and Innovation:
Staying updated on the latest trends and innovations in the real estate industry is essential for Elston. He keeps abreast of market dynamics through social media, podcasts, online training programs, and learning from industry veterans. This proactive approach enables him to adapt his business strategies in response to market changes. By continuously updating his knowledge and skills, Elston ensures that his services remain relevant and competitive in a rapidly evolving market.
For example, during election periods when investors might refrain from investing due to cash flow concerns, Elston shifts his focus to homebuyers who are more likely to proceed with their purchases. This flexibility allows him to cater to varying customer needs and maintain business continuity. By understanding market sentiments and adapting his strategies accordingly, Elston can navigate uncertainties and capitalise on emerging opportunities.
Recently, Elston has embraced innovative approaches such as digital marketing and creating trend-focused reels. These strategies enhance visibility and build trust with potential clients, showcasing the properties and services he offers. By leveraging the power of digital platforms, Elston can reach a broader audience and engage them with compelling content, driving interest and inquiries.
Client Satisfaction and Feedback:
Elston measures client satisfaction and gathers feedback through a combination of direct interactions, feedback forms, and post-class surveys. This multifaceted approach provides a comprehensive understanding of client experiences and identifies areas for improvement. By actively seeking feedback, Elston demonstrates his commitment to client satisfaction and continuous improvement, ensuring that his services meet and exceed client expectations.
When addressing concerns or complaints, Elston prioritises adjusting his approach to meet the specific needs of each client. By taking note of feedback and making necessary changes, he ensures a favourable experience for his clients. Proactive communication about payment schedules and project advantages also helps in managing client expectations. This client-centric approach not only resolves issues promptly but also strengthens trust and loyalty.
To ensure a positive experience throughout the buying or selling process, Elston provides clients with comprehensive information about projects, highlighting the benefits and offering hospitality that goes beyond expectations. By surrounding clients with the best-suited projects and offering attractive discounts on final billing, he fosters a positive and memorable experience. This dedication to exceptional service ensures that clients feel valued and supported throughout their real estate journey.
Business Growth and Expansion:
Elston’s goals for business growth and expansion in the next few years include becoming Goa’s top real estate service provider, guiding clients through trustworthy investments, and setting up dedicated teams for North and South Goa projects. He also plans to collaborate with interior designers and land developers to offer a one-stop-shop solution for buyers, streamlining the buying process and cutting down extra work. These strategic initiatives are aimed at enhancing service delivery, expanding market reach, and establishing a strong brand presence in the real estate sector.
Expanding into new markets and areas of specialisation is a key focus for Elston. Additionally, with the help of AI, he is exploring markets like Hyderabad, Bangalore, and Pune to identify and capitalise on emerging opportunities. This forward-thinking approach positions Elston to tap into high-growth markets and diversify his portfolio, ensuring sustained business growth.
Attracting and retaining top talent is crucial for Elston’s business expansion. He ensures that employees are rewarded for their contributions and ideas, fostering a culture of growth and motivation. By aligning the company’s growth with individual career development, Elston creates an environment where everyone can thrive. This focus on talent management ensures that Elston’s team remains skilled, motivated, and capable of driving the business forward.
Challenges and Opportunities:
The real estate industry faces several challenges, including the spread of misinformation by unscrupulous brokers, defaulters, and overpriced projects. Elston tackles these challenges by staying informed about market dynamics, maintaining flexibility, and offering fair pricing. By taking on mandate projects and ensuring clarity and transparency, he builds trust and credibility with clients. This proactive approach not only mitigates risks but also enhances client confidence and satisfaction.
To navigate economic downturns or external challenges, Elston encourages investments in emerging markets that promise future growth. Diversifying investments based on market trends and maintaining a balanced portfolio helps mitigate risks and ensure stability. By adopting a strategic and diversified approach, Elston can weather economic uncertainties and capitalise on new opportunities as they arise.
Elston employs a proactive approach to identifying and capitalising on market opportunities. By staying aware of market dynamics, conducting thorough research, and maintaining flexibility in his operations, he positions himself to seize opportunities as they arise. This strategic approach allows him to stay ahead of the competition and achieve sustainable growth. By continuously monitoring the market and adapting his strategies, Elston ensures that his business remains resilient and capable of thriving in a dynamic environment.
Conclusion:
Elston Dias’s journey in the real estate industry is marked by his passion, adaptability, and commitment to excellence. His background in hospitality, combined with his strategic approach to real estate, has enabled him to build a successful business that caters to diverse client needs. Through proactive market analysis, innovative marketing strategies, and a focus on client satisfaction, Elston has positioned himself as a trusted and reputable real estate professional.
As he continues to grow and expand his business, Elston remains dedicated to maintaining the highest standards of service, fostering professional relationships, and adapting to the evolving real estate landscape. His vision for the future includes expanding into new markets, collaborating with industry professionals, and contributing to the community through sustainable practices and initiatives. By continuously innovating and adapting, Elston ensures that his business remains relevant and competitive, capable of meeting the evolving needs of his clients.
With a strong foundation and a clear vision for the future, Elston Dias is poised to make a significant impact in the real estate industry, helping clients achieve their property goals and contributing to the growth and development of the regions he serves. His unwavering commitment to excellence and client satisfaction sets him apart as a trailblazer in the real estate industry, dedicated to making a positive difference in the lives of his clients and the community.
