New builders are headache?

(RegNews, Hyderabad):He is a young consultant who sold plots till recently and earned some good profits. But he had joined hands with some investors and turned into a builder. The young builder started a few new projects in Shankarpally and Bachupally where some of them have RERA approvals and the others do not. A native of East Godavari district, quit his IT job and joined real estate industry on a full-time basis. Nothing wrong so far. But without adhering to some basic principles of the construction sector, he has already started selling these flats.

There is a new breed for such new builders entering the Hyderabad’s real estate market and bringing fresh headaches for those in the industry. It is easy to sell any plot or flat when there is a boom in the market. But, situation will suddenly turn upside down when the market is hostile. Only experienced developers are aware of how to handle such situations, while newcomers struggle to tide over the situation. They are always under the illusion that the market will get better and start sales without taking RERA permission. Most of the young builders are unaware of the difference between sales and marketing as well as are not sure how to generate leads. They are still running the operations in the old fashioned way, due to lack of knowledge about new techniques in sales.

Sadly the new developers are unable to differentiate between selling flats and plots. Hence, it is learned that manager level people have been assigned the task of selling flats at government offices. As a result, the staff working in this organization facing some troubles. They say that they were recruited with one purpose and are being asked to do other works. In every aspect of sales, marketing, construction work, etc., the construction sector is in ringing danger bells due to such bad practices. Unable to understanding what work should be done and when, several young builders are moving in a wrong direction. It is high time that senior builders mentor and guide new developers who are under the illusion that they know everything, failing which it would have adverse affect on the construction industry itself.