CHAPTER III RESEARCH METHODOLOGYOBJECTIVES• Understanding of CBRE Homes Portal and sales management tool.• Working of digital marketing in R-square Such as: “What guidelines one need to follow while creating a project in R-square”.• Data extraction for R-square.• Overview and analysis of CBRE Homes Portal.• Understanding Data Dedupe.• Auditing the company’s website to find out more ways to make it user friendly.
• Market Tapping and pitching as finding out which kind of properties a customer looks out before buying.• Evaluating the Residential properties of Delhi/Ncr.• Assorting RERA registered properties for clients.• Interaction with CBRE Portal Clients that includes:o Generating Queryo Fixing meetingso Site Inspectionso Negotiation ; Final closure MeetingsCUSTOMER RELATIONSHIP MANAGEMENTCustomer relationship management (CRM) is an approach to manage a company’s interaction with current and potential customers. It uses data analysis about customers’ history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth. One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials, and more recently, social media.
Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences and how to best cater to their needs.Social media represents one-way companies adapt to trends that benefit their bottom line. The entire point of CRM is to build positive experiences with customers to keep them coming back so that a company can create a growing base of returning customers.Special CRM software aggregates customer information in one place to give businesses easy access to data, such as contact data, purchase history and any previous contact with customer service representatives. This data helps employees interact with clients, anticipate customer needs, recognize customer updates and track performance goals when it comes to sales.
CRM software’s main purpose is to make interactions more efficient and productive. Automated procedures within a CRM module include sending a sales team marketing material based on a customer’s selection of a product or service. Programs also assess a customer’s needs to reduce the time it takes to fulfil a request.
NEED OF CRM• Client Focus• Automated and Effective Communication• Prospects and sales process Management• Supply(listing) ; Demand (Enquiry) Management• Transaction Management• Productivity ManagementCRM FOR REAL ESTATE INDUSTRYBuilders and real estate developers are increasingly facing challenges in meeting stipulated deadlines while delivering a project. There can be many foreseen and unforeseen issues that can interfere with the timely execution of a project. When this is damaging to their reputation, it also increases cost and risks associated with it. Real estate business software applications are designed to mitigate such issues by allowing real estate vendors in managing all aspects of their complex business requirements from an integrated platform.The demand for real estate developments is rapidly increasing along with fast urbanization. Real estate CRM software developers are now required to deliver multiple projects within a short period of time, which have made the project execution process complex. Real estate agency software is designed to facilitate pre-project and during project execution planning, cost and risk management through efficient forecasting etc. The primary function of these applications is to make project management process easier.
The basic highlights of real estate software are listed below.1. Project planning and management2. Managing multiple projects from a single platform3. Reducing stakeholder risk4. Budgeting, cost monitoring and better management of finance5. Reducing risks and improving profitability6. Designed to serve building lifecycle of the user7.
Document management and reporting8. Timeline management9. Customer relationship management (CRM) Both on-premise and hosted software solutions are available in abundance. Software vendors are offering real estate management software for large as well as small builders. The key is to select the right size application that will support intrinsic business requirements, easy to integrate and install, flexible and scalable to changing business needs. Our listing service lists software pertaining to your specialized industry where you can check, learn and compare between the different software applications available.
The section of real estate software lists specialized software. If we are to suggest a few names, those would be –R-square, i-Green T.FAT Build, Builder Plus, Highrise etc.THE ROLE OF CRM IN MARKETINGThe true effectiveness of a CRM system is reflected in email marketing campaigns.
In 2017, the majority of digital investments were spent for developing more personalized email marketing strategies. Not only does CRM contribute to the design of tailored advertising, but a quality tool like bpm online CRM can also help the marketing department work faster” due to the following features:• Customer database segmentation• Marketing campaign automation• Lead generation and distribution• Email marketing tools• Event management• Collaboration tools• Knowledge management• Integration capabilities BENEFITS TO BROKERSEmpower us to truly leverage our global footprint to win more business through collaboration and informed decision-makingSTRONG CLIENT RELATIONSHIP • Increase in frequency of client meetings • Single view of client globally• Strategic partnership with the clientFOCUSED BUSSINESS DEVELOPMENT• More warm leads• Analyse wins / losses• Focus efforts strategicallyDEEP INDUSTRY KNOWLEDGE• Access deal information (current & historical)• Be well -informed for effective business transactions and negotiationsIMPROVED EFFICIENCY• Access data real time and make updates on the go with the mobile application• Organize and track daily work activities more easily• Collaborate effectivelyUNDERSTANDING THE CBRE HOMES PORTALCBRE Homes Portal: we can capture details of any project which is a Paid Listing on our CBRE Homes Portal. CBRE’S Residential Services business portfolio includes acquisition, disposition, leasing and joint-venture on residential properties across the country. The team of experts assist HNIs, expatriates, diplomats and corporates in leasing residential properties, investing in premium or budget residential developments, disposing residential assets and undertaking a joint-venture on residential properties. The company also provides comprehensive Expatriate Management Services under its residential services portfolio.CBRE Homes Portal is the place where one can explore the properties of all over India for the purpose of buying or leasing in the residential or commercial sector.CBRE’S Residential Services business portfolio includes acquisition, disposition, leasing and joint-venture on residential properties across the country.
The team of experts assist HNIs, expatriates, diplomats and corporates in leasing residential properties, investing in premium or budget residential developments, disposing residential assets and undertaking a joint-venture on residential properties. The company also provides comprehensive Expatriate Management Services under its residential services portfolio.Such Screenshots were taken from the CBRE Homes Portal itself:1.
2. 3. REAL ESTATE SOFTWARE CAN HELP BUSINESSCompetition nowadays has intensified between real estate developers as everyone is trying to grab hold the first attention of customers. Real estate software development, when is a lucrative business, also involves a great deal of risks. Real estate management software facilitates the amalgamation of different complex aspects of construction business by offering an integrated dashboard to users.
Most software of the type offers to bid to billing solution so that the entire process can be managed from a single platform.To a construction business owner, real estate agent & developer, benefits of a real estate software are multi-dimensional. Most applications of this category have the following features.1. Project Planning: Construction projects normally involve a large investment.
The real estate management system is, therefore, imperative to lay down a proper project execution plan to make the process smooth and hassle free. It also helps towards mitigating risks and delayed deployment.2. Financial Planning: Large involvement of fund also needs proper management and planning and hence, these applications integrate with a financial management module that allows users to keep track of receipts and expenses and ensure transparency at every level.3. Schedule Task: Schedule tasks and check progress from a consolidated dashboard. Receive daily updates and measure project execution percentage for timely delivery.
See all open issues and steps taken to address the problem all from one platform.4. Bidding: Check vendor bidding status. Most applications will allow you to check, schedule and attach a document to bidding process along with providing with a list of vendors who have been invited to bid.5. Contract Management: Manage contract documents and also track changes in contract terms and condition. Real estate ERP software allows a collaborative platform from which all documents pertaining to all open and closed projects can be managed.
The user can also set permission level for users to view access and edit documents.RERA: REAL ESTATE REGULATION ACTThe Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body for speedy dispute redressal. The bill was passed by the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016. The Act came into force on 1 May 2016 with 59 of 92 sections notified. Remaining provisions came into force on 1 May 2017.
The Central and state governments are liable to notify the Rules under the Act within a statutory period of six months.HISTORYReal Estate Regulatory Authority (RERA) Bill was introduced by the Indian National Congress government in 2013. In December 2015, the Union Cabinet of India had approved 20 major amendments to the bill based on the recommendations of a Rajya Sabha committee that examined the bill. The Bill had been referred to a select committee, which had given its report in July 2015.
However, Congress, Left and AIADMK had expressed their reservations on the report through dissent notes. The bill got approval of the Rajya Sabha on 10 March 2016 and by the Lok Sabha on 15 March 2016.PROVISIONS:RegistrationThe Real Estate Act makes it mandatory for all commercial and residential real estate projects where the land is over 500 square metres, or eight apartments, to register with the Real Estate Regulatory Authority (RERA) for launching a project, in order to provide greater transparency in project-marketing and execution. For ongoing projects which have not received completion certificate on the date of commencement of the Act, will have to seek registration within 3 months. Application for registration must be either approved or rejected within a period of 30 days from the date of application by the RERA. On successful registration, the promoter of the project will be provided with a registration number, a login id, and password for the applicants to fill up essential details on the website of the RERA. For failure to register, a penalty of up to 10 percent of the project cost or three years’ imprisonment may be imposed.
Real estate agents who facilitate selling or purchase of properties must take prior registration. Such agents will be issued a single registration number for each State or Union Territory, which must be quoted by the agent in every sale facilitated by him.PROTECTION OF BUYERSThe Act prohibits unaccounted money from being pumped into the sector and as of now 70 per cent of the money has to be deposited in bank accounts through cheques is now compulsory. A major benefit for consumers included in the Act is that builders will have to quote prices based on carpet area not super built-up area, while carpet area has been clearly defined in the Act to include usable spaces like kitchen and toilets.
REAL ESTATE REGULATORY AUTHORITY AND APPELLATE TRIBUNALIt will help to establish state-level Real Estate Regulatory Authorities (RERAs) to regulate transactions related to both residential and commercial projects and ensure their timely completion and handover. Appellate Tribunals will now be required to adjudicate cases in 60 days as against the earlier provision of 90 days and Regulatory Authorities to dispose of complaints in 60 days while no time-frame was indicated in earlier Bill. R-SQUARE AND ITS MODULELOGIN PAGER-Square is a sales management tool which is used by Real Estate business. This tool can be used by the employees of the company which include all the details of employees and shows the individual productivity of them. It includes Supply and Demands, supply means project and properties and demands means enquiries.
This is the login page of R-Square. R-SQUAREHOMESCREENThere are different modules of R-Square on the Home screen.• New projects• Properties• Enquiries• Contacts• Transactions• Activities• Conveyance STEPS TO CREATE A PROJECT? Step1: Click on project? Step2: Click on Create ? Step3: Enter the details of project, project type, Developer, primary project or secondary project, source channel i.e, TOI, leads, cross referral, homes portal etc.? Step4: Click on submit Project will be createdR-Square is used by the employees of the company which include all the details of employees and shows the individual productivity of them. It includes Supply and Demands, supply means project and properties and demands means enquiries.PROJECTS: The Project details along with the Developer details will be entered & captured.
The Project entry can be done manually as well as in a One-time Upload Excel Sheet. DATA EXTRACTION AND REPORTINGThe client had a requirement to extract reports from a number of files. These files were system generated of csv format (a type of excel format).
The files were collected daily by the users and reports made. Information from many files are then combined to generate the reports. The users would spend a number of hours to process these reports daily. The reports had a fixed format and simple statistical information. All the information in the reports originate from the source files. After the reports were made, the reports are sent via email to a number of different people.These Reports are formed from Ms.
Excel. All the data transfer from R-Square to Ms. Excel and relevant data is extracted from there, and then dashboards are created.
This is a screenshot of Ms. Excel which shows the data of R-Square. In this data, the following things are given that is enquiry id, contact number of employee, clients, owner mobile number, status, sales negotiation, source, etc. But the relevant data is status and source this would be copied in the next sheet as given below. In this sheet, filter would be applied to get the relevant data from the Excel sheet to form a dashboard. The first column shows the status of the leads that is Active, Inactive, Lost, Dead, Won and Closed and the second column shows the leads that is where does the leads come from?Then filters would be applied to this data and get the relevant data that is the total number of leads from which status won and closed, active, inactive, Lost, dead. And have different source that can be email campaign, event campaign, google AdWords, Business development, Self-generated, self-sourced, walk-in, Facebook etc.
And this sheet would be created after all the steps. And this is the relevant data sheet which is needed for the creation of the Dashboards and summary. DATA DEDUPE At its simplest definition, data deduplication refers to a technique for eliminating redundant data in a data set. In the process of deduplication, extra copies of the same data are deleted, leaving only one copy to be stored. Data is analyzed to identify duplicate byte patterns to ensure the single instance is indeed the single file.
Then, duplicates are replaced with a reference that points to the stored chunk.Given that the same byte pattern may occur dozens, hundreds, or even thousands of times think about the number of times you make only small changes to a PowerPoint file or share another important business asset the amount of duplicate data can be significant. In some companies, 80% of corporate data is duplicated across the organization. Reducing the amount of data to transmit across the network can save significant money in terms of storage costs and backup speed in some cases, savings up to 90%.A REAL-WORLD EXAMPLE THAT CAN BE COATED HERE IS:Consider an email server that contains 100 instances of the same 1 MB file attachment, say, a sales presentation with graphics that was sent to everyone on the global sales staff. Without data duplication, if everyone backs up his email inbox, all 100 instances of the presentation are saved, requiring 100 MB storage space. With data deduplication, only one instance of the attachment is actually stored; each subsequent instance is just referenced back to the one saved copy, reducing storage and bandwidth demand to only 1 MB.TIME EFFECTIVEWhile data deduplication is a common concept, not all deduplication techniques are the same.
Early breakthroughs in data deduplication were designed for the challenge of the time: reducing storage capacity required and bringing more reliability to data backup to servers and tape. One example is Quantum’s use of file-based or fixed-block-based storage which focused on reducing storage costs. Appliance vendors like Data Domain further improved on storage savings by using target-based- and variable-block–based techniques that only required backing up changed data segments rather than all segments, providing yet another layer of efficiency to maximize storage savings.
As data deduplication efficiency improved, new challenges arose. How do you backup more and more data across the network, without impacting overall network performance. Avamar addressed this challenge with variable block deduplication and source-based deduplication, compressing data before it ever left the server, thereby reducing network traffic, the amount of data stored on disk, and the time it took to backup. With this step forward, deduplication became more than simply storage savings; it addressed overall performance across networks, ensuring that even in environments with limited bandwidth, data had a chance to be backed up in a reasonable time.Another step function improvement to data deduplication was achieved by Druva when it addressed data redundancies at object level (versus file level) and solved for deduplication across distributed users at a global scale.
FREE UP SPACEBy the early 2000’s, business data was moving global, real-time and mobile. IT team were challenged to backup and protect massive volumes of corporate data across a range of endpoints and locations with increased efficiency and scale. To address this challenge, Druva pioneered a revolutionary concept of “app-aware” deduplication which analyzes data at the file object level to identify file duplicates in attachments, emails, or even down to the folder from which they originate. The approach added significant gains in accuracy and performance for data backups, lowering the barrier for companies to efficiently managing and protecting large volumes of data.DATA GOVERNANCEToday, as cloud adoption reaches a tipping point and companies have begun moving their data storage to a virtual cloud environment, data deduplication plays a more strategic role than simply saving on storage costs. In combination with cloud-based object storage architecture, efficient data deduplication is opening up new opportunities to do more with stored data.
One example is data governance. With global deduplication techniques, massive volumes of data can be backed up and stored in the cloud and made available to IT (and the C-Suite) to address compliance, data regulation and real-time business insights. This is done by creating a time-index file system which stores only the unique data required using meta data. The time indexed view of data means that you now have historical context for information, and data is always indexed and ready for forensics teams.
This is a radical departure from the traditional “backup to the graveyard” approach which is written as a serial stream of incremental or full backups. Additionally, being able to understand and analyze data in common among a set of users helps IT understand data usage patterns and further optimize data redundancies across users in distributed environments.Today advanced data deduplication is helping address two competing forces that threaten to impede fast-growing enterprise businesses today: managing the massive increase in corporate data created outside the traditional firewall and solving for the growing need to govern data across its lifecycle by time zone, user, devices and file types.ANALYSISDuring the period of my internship I was given a live task, that there was a client who was interested in buying a property in South Delhi. Client was a managing director of a company in Gurgaon. So, the task was given to me was to Identify the buying behavior of customer that what kind of standards are kept mind before buying of a residential property in Delhi/Ncr and also to find out properties matching to the requirement of client.As talking regarding the company’s environment, it was tremendous. It was my pleasure to work in such an organization with such workplace.
All the employees working were Self-motivated and dedicated towards there job. Each and every one was full of positive attitude as Mr. Shalin Raina who is the Managing Director of CBRE Residential as he is the person with dignified personality.FINDINGSIdentified the buying behavior of the customer while purchasing of residential project/property in South Delhi Area. As a consumer keeps different sort of standards regarding the property in mind before buying it and those are:1. Facing of property2.
Covered and carpet area.3. Elevation4. Floor number5. Parking6. Furnished/Unfurnished7.
BuiltGreater Kailash-1, Greater Kailash-2, and New Friends Colony Were the places where the matching requirements were found for the client. There are some pictures of the particular residential properties that matched the client requirements.This Property has rich in feature such as:-• Park Facing• Parking Facility• 24X7 Security• 4-5 Years old PropertyThis Property has rich in feature such as :-• Wide Road• 2-3 Year old Property• Fully Furnished• Modular Kitchen• Power Backup• Covered ParkingLIMITATIONSAs whole process of my internship was full of knowledge that i gained. But some of the limitations that made the route bit tough were:Lack of internet connectivity as due to that it was hard to preform daily tasks that were assigned to me. Lack of office space as if talk about office it was calm and full of employees as due lack of availability of working space each and every intern would have to sit somewhere else inspect of their department allotted.The organization does not give access to old data or fresh data to the interns.
So, it was difficult for me to gather information regarding the study. Interacting sessions with clients via cellphone was also difficult as due to lack of networks and access not granted for the company’s landline was a limitation that made the route tough. But everything was planned so well that I managed to work on study and find an conclusion.RECOMMENDATION & CONCLUSIONWorking at the place where I did was an life experience for me that I will remember my entire life.
CBRE South Asia Pvt.Ltd Gurgaon is a place that became my passion and my ambition and I will love to work in such kind of company in near future.Regarding the environment the organization is above all.
All the employees were very friendly and the ones that can be a mentor for a person like me.Organization has a workplace environment just like a family. As at the times when the days came where workload was on peak each and every employee was active regarding their tasks.
As this taught me the sense of teamwork that they use to perform.Working with an fortune 500 company which has 207th ranking was an extreme pleasure for me. The organization gave me enough knowledge for life that will help me in near future.
