Monika Patni, Co-Founder, Realty InvestMart has been in the business for over a decade now. Every business today is encouraging involvement of women in the business to evolve and improve with her fine touch and eye for detail. Monika has been contributing to the growth of her company by not only broadening the market vision, but also by inspiring many other aspiring women entrepreneurs to take real estate as their career by coaching and mentoring them. Recognizing her achievements in the field, we caught up with her to know more about her journey as a realtor and a lot more:
Journey of establishing herself as a realtor: Sharing more on her journey as a realtor, Monika shares, “I started my journey as a real estate agent in 2005 with the encouragement from my husband under the name of Realty InvestMart. At that time it was more about keeping me occupied, but as time passed, I realised that it was something I wanted to pursue as a career at a higher level. I along with my husband founded Realty InvestMart and we were registered with major developers such as DLF, Vatika, Bestech, OMAXE, etc. as their channel partner and worked for them for their projects.” She adds, “With time, we also entered the international markets and we are able to help people transact properties in/from countries like Dubai, Canada and USA. Today, along with doing transactions I also help & train professionals in the real estate market, training & educating those who are looking to make a mark in this industry.”
The perspective a female leadership can bring to the realty business: We all know that there are numerous reasons for limited number of women in top management in Indian real estate. Sharing more on the perspective a female leader can bring to the realty business Monika shares, “The real estate field has primarily been a male dominated business for ages, entering this industry being a woman was certainly a challenge. Even today, there are very few women out on the field, since the perception of a real estate industry is that of a 'dirty business', with very few people who practice fairly, which has been one of the major reasons why women used to shy away from entering this field.” She adds, “The irony however is that when it is about a house or a home, the lady of the house is always consulted and involved. What a woman can bring to the table is very different and valuable as compared to a man, for whom it is just an investment in space. Personally, I always try to connect with my clients and give them all the low down of any property which is critical from the point of view of a woman helping them with better decision making. Now with the RERA setting in and real estate brokerage heading to becoming a regulated market, I am sure more professionals & women can start looking at this exciting industry.”
Personal mantra: “For me it has been a case of Constant Perseverance, Good Service, Honest & Transparent Disclosures, and Educating the clients, especially the lady in the family,” shares Monika. She adds, “There are many people who are ready to bring you down at every step of the way, particularly in this industry. I have been very fortunate to have a husband and a family who have been extremely supportive and who have always helped me dream bigger.”
Next professional goal: Monika says, “Well, since the beginning, this journey has been full of obstacles and challenges and honestly, I have started enjoying accepting these challenges. I am now looking at exploring matured markets and also help bring about a change in the attitudes of the people. In the western countries, this industry is as respected and dignified as any other profession, I want to be able to bring about that same respect and dignity for my fraternity here in India. What could be a better thing than helping a family buy a HOME of their dreams.”
Challenges and Advantages: In real estate a woman faces many obstacles that men typically do not, but we are sure that there would have been many advantages as well. Sharing her perspective on the same, Monika shares, “Of course, as I have mentioned before, this field is not seen as suited for women. There is always a certain group making it difficult for me as a woman to operate, snatching deals, undermining efforts, playing dirty, discounting & misleading clients are common things, including reservations of some people in dealing with a lady Real Estate Professional.” “However, my efforts have always been towards connecting with the homemaker as a homemaker. Of course, not everyone is unfair! Some developers & professional brokers have been extremely supportive towards all my efforts and they have helped me reach where I am today,” shares Monika.
The best part about working: “The biggest high is about meeting new people everyday and being in control of your time and family while earning decent money, shares Monika. She adds, “I get to meet people of different temperaments, different views and ideas, some willing, some difficult, some confused & some more seasoned investors, but that is what is challenging and keeps pushing me every day. Of course the monetary benefits are huge, but apart from that, the sense of independence this has given me is unparalleled. My husband, Manish Patni has been a big support, it was almost as if he knew I had the knack for this and has pushed me to better myself every day.”
Tips for women realtors: Monika shares, “It is of course a difficult place to be in, however, with a constant perseverance and continuous development of your skills with the changing market, this is an exciting industry to be in. Be honest, and put the interest of the client before your own, this will not only help you build credibility, but also help removing dirty practices present in the industry. Keep yourself up to date and crack those deals with confidence! Transparent sharing of Information & honest disclosures will help you even more.”
One book/resource that realtors should use: Read "THE BARE ACT FOF LAW OF CONTRACTS & STAMP DUTY, TRANSFER OF PROPERTY ACT & REGISTRATION ACT” for basic knowledge on real estate transactions. Keep yourself updated on state urban development acts. "APARTMENT OWNERS ACT & GUIDELINES OF TOWN & COUNTRY PLANNING" can be very helpful in understanding the local market.
Advice for woman looking to get started in real estate investing: The biggest piece of advice I ever give is to be honest in all your dealings, this will not only help you build a network of prospects, but also help you show the good side of this industry and also bring your clients back to you repeatedly.