Prasad Amonkar’s Real Estate Journey
Early Beginnings in Mechanical Engineering and Metal Industry
Coming from a mechanical engineering background, Prasad Amonkar began his career in the metal industry. In the initial years of his career, he realised that to make a significant career in engineering, he had to either leave Goa or even India. The kind of exposure and career opportunities in Goa were limited. However, he decided to stay back in Goa. During this period, he joined hands with small-time self-employed people, helping them in their business ventures. During this time of his career, he saw the entrepreneurs not knowing that one day he would become one.
Prasad’s decision to remain in Goa despite the limited career opportunities in engineering reflects his deep connection to his roots and his desire to contribute to his local community. His early experiences working with small-time self-employed individuals provided him with valuable insights into the challenges and opportunities faced by entrepreneurs. This period of his life laid the foundation for his future endeavours, instilling in him a sense of resilience and adaptability that would later prove crucial in his transition to the real estate industry.
Transition to Non-Banking Sector and Corporate Experience
Prasad had the opportunity to work in the non-banking sector industry, where he worked in the subject of his known expertise. He learned about non-banking products like mutual funds and life insurance, took requisite exams, and worked in Mumbai for a bank in the cross-sale department. Working in Mumbai was a significant experience, handling corporate clients and understanding corporate patterns was invaluable. The aspiration of becoming an entrepreneur was always there. However, the ideas he used to pass on to his senior colleagues were unheard, making him feel that he was not using his true potential.
In Mumbai, Prasad’s role involved managing corporate clients, which provided him with a broader perspective on business operations and client relations. This experience was instrumental in shaping his entrepreneurial mindset. The corporate environment, with its structured processes and high expectations, helped Prasad develop a keen understanding of market dynamics and the importance of strategic thinking. Despite the invaluable experience, Prasad’s innovative ideas were often overlooked by his superiors, fueling his desire to create his own path where his vision and potential could be fully realised.
The Real Estate Rejection that Sparked a Challenge
A friend who worked for a developer introduced Prasad to the real estate industry. He went for an interview but was rejected due to a lack of past real estate experience. Despite the rejection, Prasad was happy and took it as a challenge. He clicked one deal, tasted success for the first time, and decided not to look back. Without any backup, he left his job and embarked on his journey in the real estate brokerage business.
This initial rejection in the real estate industry served as a pivotal moment for Prasad. Instead of being discouraged, he embraced the challenge with a positive attitude. The success of his first deal not only validated his potential in real estate but also ignited a passion that would drive his future endeavours. Prasad’s decision to leave a secure job without any backup plan underscores his boldness and determination to pursue his entrepreneurial dreams. This leap of faith marked the beginning of a new chapter in his professional life, setting the stage for his eventual success in the real estate market.
Establishing Principles: Integrity, Ethics, and Transparency
While starting his business, Prasad had two principles in mind. The first principle was a “let’s go” attitude, meaning if things don’t work, move on. The second principle was to maintain ethics, integrity, and transparency in deals, recognizing that the substantial money in this business could sometimes overpower these values. Additionally, he aimed to give back to society in whatever way possible.
These core principles have been instrumental in shaping Prasad’s business philosophy. The “let’s go” attitude reflects his resilience and adaptability, allowing him to navigate the challenges and uncertainties of the real estate industry. His commitment to ethics, integrity, and transparency has earned him the trust and respect of clients and peers alike. By prioritising these values, Prasad has created a reputation for reliability and fairness, which has been crucial in building long-term relationships and a successful business. His dedication to giving back to society further highlights his holistic approach to business, where success is not just measured in financial terms but also by the positive impact on the community.
Building a Real Estate Empire
Prasad started with a small rental business and small shops. Today, his professional team handles rentals and sales of residential and commercial properties. He has a team of associates trained by him from his real estate coaching vertical. These associates have become his permanent partners, helping increase business volume and fostering long-term business relationships. Adhering to ethics, integrity, and transparency has been a cornerstone of their success.
The growth of Prasad’s real estate business from modest beginnings to a thriving enterprise is a testament to his vision and leadership. By starting small and gradually expanding, he was able to build a strong foundation and gain valuable experience. His emphasis on training and mentoring associates has created a loyal and skilled team that shares his values and commitment to excellence. This collaborative approach has not only increased business volume but also enhanced the overall quality of service provided to clients. The success of Prasad’s real estate empire is a reflection of his strategic thinking, ethical conduct, and unwavering dedication to his principles.
Workshops and Knowledge Sharing
Prasad regularly conducts workshops on real estate, including several on the Real Estate Regulation and Development Act (RERA). He emphasises continuous learning and knowledge sharing, positioning himself as a mentor and leader in the industry. By educating aspiring realtors, Prasad enhances their skills and expands his network, reinforcing his business with trained and knowledgeable associates.
Prasad’s commitment to education and knowledge sharing is a key aspect of his business strategy. By conducting workshops and training sessions, he not only imparts valuable knowledge but also fosters a culture of continuous improvement and professional development. His focus on the Real Estate Regulation and Development Act (RERA) ensures that his team and associates are well-versed in the latest regulations and industry standards. This proactive approach to learning and development has positioned Prasad as a thought leader in the real estate industry, further enhancing his credibility and influence.
Marketing Strategies and Market Trends
Prasad acknowledges the importance of experience in understanding market trends and effective marketing strategies. He utilises various platforms to market properties, adapting to changing dynamics and costs. His involvement with organisations such as the Goa Association of Real Estate, the National Association of Real Estate, and Business Network International keeps him informed about industry trends. This network, combined with his active engagement in the market, allows Prasad to stay ahead of trends and provide accurate market insights.
Staying ahead of market trends and employing effective marketing strategies are crucial components of Prasad’s business approach. His ability to adapt to changing market dynamics and utilise various platforms for marketing properties has been instrumental in reaching a broader audience and attracting potential clients. Prasad’s active involvement in industry organisations and networking groups keeps him updated on the latest trends and developments. This knowledge, combined with his practical experience, enables him to provide valuable insights and strategic advice to clients and associates, further solidifying his position as a leader in the real estate market.
Client Assistance and Satisfaction
Assisting clients begins with understanding their requirements and history, enabling Prasad to offer tailored property options. He emphasises the importance of personal meetings and property showings to gauge client preferences. By leveraging his extensive network, Prasad provides clients with a wide range of properties, ensuring a comprehensive service experience. His expertise also extends to evaluating properties and assisting with financing, adding value to the client’s buying process.
Prasad’s client-centric approach is a cornerstone of his business philosophy. By taking the time to understand each client’s unique needs and preferences, he is able to offer personalised and effective solutions. His emphasis on personal meetings and property showings ensures that clients feel valued and informed throughout the buying process. Prasad’s extensive network and expertise in property evaluation and financing further enhance the service experience, providing clients with comprehensive support and guidance. This commitment to client satisfaction has been a key factor in building lasting relationships and a loyal client base.
Ensuring Client Satisfaction through Due Diligence
While client satisfaction in real estate can be challenging due to various factors, Prasad prioritises thorough property due diligence. He ensures sellers are genuinely interested and that buyers are serious about their investments. By mediating between buyers and sellers, Prasad facilitates fair negotiations, addressing potential issues and maintaining a balanced perspective. His approach minimises dissatisfaction and fosters trust in his services.
Thorough due diligence is essential in ensuring client satisfaction and successful transactions. Prasad’s meticulous approach to verifying the legitimacy and seriousness of both sellers and buyers helps prevent potential issues and conflicts. By acting as a mediator and facilitating fair negotiations, he ensures that both parties feel heard and valued. This balanced and transparent approach helps build trust and confidence in his services, leading to higher levels of client satisfaction and successful long-term relationships.
Handling Negotiations with Skill and Fairness
Negotiation is an art that Prasad has mastered through experience. He educates sellers about opportunity costs and helps buyers understand the long-term value of their investments. By providing insights into recent market transactions and considering various property dimensions and views, Prasad navigates the complexities of negotiations. His skillful handling of human behaviour and psychology during negotiations ensures fair outcomes for both parties.
Prasad’s negotiation skills are a critical asset in his real estate business. His ability to educate and inform both sellers and buyers about the various aspects of property transactions helps create a transparent and informed negotiation process. By considering factors such as opportunity costs, market trends, and property dimensions, Prasad is able to provide valuable insights and guidance. His understanding of human behaviour and psychology further enhances his ability to navigate the complexities of negotiations, ensuring fair and satisfactory outcomes for all parties involved.
Aspiring to Impact Lives through Real Estate
Prasad’s aspirations extend beyond personal success. His goal is to positively impact the lives of aspiring realtors and clients. Through his real estate coaching, he aims to elevate individuals from 10% to 70-80% efficiency, ensuring they remain consistent and profitable in the business. By collaborating with those he mentors, Prasad expands his inventory sources and workforce, creating a mutually beneficial ecosystem.
Prasad’s commitment to making a positive impact on the lives of others is a central theme in his career. Through his real estate coaching and mentoring programs, he aims to elevate the skills and efficiency of aspiring realtors, helping them achieve greater success and profitability. This collaborative approach not only benefits those he mentors but also expands his own business network and resources. By fostering a supportive and mutually beneficial ecosystem, Prasad is able to create a lasting positive impact on the real estate industry and the lives of those involved.
Vision for the Future: Growth and Innovation
Looking ahead, Prasad envisions continuous growth and innovation in real estate. His goals are not just about monetary gains but about touching lives and transforming careers. He aims to see thousands benefiting from his knowledge and efforts, contributing to their prosperity and success in real estate. With new ideas already in the pipeline, Prasad is committed to pioneering advancements and setting new benchmarks in the industry.
Prasad’s vision for the future is centred on growth, innovation, and making a positive impact. He is committed to continuously improving and expanding his business while also transforming the lives and careers of those he mentors. By sharing his knowledge and expertise, Prasad aims to help thousands of individuals achieve success in the real estate industry. His dedication to pioneering new ideas and setting high standards reflects his forward-thinking mindset and his desire to leave a lasting legacy of excellence and positive change.
Conclusion
In conclusion, Prasad Amonkar’s journey from a mechanical engineer in the metal industry to a real estate mogul is a testament to his resilience, ethical commitment, and innovative spirit. By adhering to his principles and continuously striving for excellence, Prasad has built a successful business and made significant contributions to the real estate industry. His story is an inspiration to aspiring entrepreneurs, demonstrating that with determination, integrity, and a forward-thinking mindset, one can achieve remarkable success and impact lives positively.
