Denzil Xavier, who completes 25 years as one of Goa’s leading realtors, shares his entrepreneurial journey
Denzil Xavier Real Estate Consultants is recognised as one of Goa’s leading real estate solutions providers. The firm was established in 1996. The real estate consultants provide their clients with total marketing solutions by furnishing advice in buying, selling and leasing of properties. Their focus has always been to develop long lasting relationships with their depth of experience in Goa’s real estate sector. “After completing 25 years in real estate, going forward, I feel there are a lot of challenges in this business. When I started out as a real estate consultant, nobody wanted to take a real estate brokerage business as a full-time profession and everybody shied away from it. But we made sure that through our work ethic, we brought in some reputation to the profession, as well.
The Real Estate Space
When Denzil was in his final year of college, one of his close friend’s father mentioned to him that he wanted to sell a property. “He offered me a good fee. I was pretty excited regarding the prospects and I started looking out for buyers. My first clients were two high profile industrialists from Goa who I got to know through my father that they were looking out to buy property.” His first transaction didn’t go through, but it was a learning experience. More than the financial aspect of the business, Denzil was more drawn towards the opportunity it provided him to meet new people from different walks of life. This gave him a shot to be his own boss. “Initially when I started my business, I didn’t have an office. I started working from home and later got an office. From one staff member working with me, slowly the team has grown to five members, who also work in different geographic locations. People regularly call them to buy and sell properties in metros like Bangalore, Pune and Mumbai and also internationally in Dubai and Portugal. They have been trying to branch out pan-India through their good network of associates and create a global presence through strategic tie-ups.
The Journey of a Realtor
In the last 25 years, the consultancy has tried to walk the straight path of trust and transparency. The main foundation for our business is trust, we have to win the trust of customers and for that, integrity, transparency, good work ethics and being organised is important.
“For me, it was never about the money, it was about the people I was meeting and the satisfaction I got to see my clients happy, that meant more than the monetary aspect. We always put our business practices over the idea of commerce, as we believe this is the reason that we kept on getting plenty of clients. My business grew through referrals and our reputation kept on bringing us more business.”
As we move forward, having come to terms with the fact that how exactly the events would unfold and what their implications would be is anyone’s guess. The best we can do for now is adapt to changes, while on the roll. Embracing new technology and leveraging new opportunities will be the key.
Among their valued clients are some of Goa’s most influential high-net-worth individuals and corporate houses like Dempo Properties & Investment Pvt. Ltd., Tata Mutual Funds, V.M Salgaocar & Bro Pvt. Ltd., Ashok Leyland, Wendell Rodricks Design Studio, Colgate Oral Care, ICICI Bank Ltd., Syngenta Bio Sciences Ltd., Goa Marriott Resort, etc. “In real estate, your reputation, your years in business and your experience really counts. Clients look for somebody, who knows the subject, somebody who knows what he is doing and they look for the integrity aspect of the realtor. Clients want honest, reliable and well experienced persons in the business, and that’s how we have posted growth year on year.”
An Organisation’s Man
In 2009, Denzil was approached by the then President of the NAR (National Association of Realtors) Ravi Varma
(Currently the Chairman), through a very renowned realtor in Goa. “It was high time that like-minded fellow individuals and firms got together to form an association where we could address our grievances, improve our skills, and have a lot of educational programs to upgrade ourselves”.
In 2015, some of the realtors in Goa, got together to form an association and that is when everybody unanimously chose Denzil Xavier to be the Founder President and lead Goa Association of Realtors – GAR. “With the help of my fellow Council and founder members, we put everything in place – the processes, code of ethics; and got in all the
collaborations, affiliation with the National Association of Realtors (NAR-INDIA) and started working with various trade bodies. Like every organisation in its nascent stage, the initial formative years of my term as Founder President were well spent in building a good name for the association,” he says.
Denzil has also served as the Governing Body Member of NAR-INDIA 2016-18. He is currently serving as a member of the Real Estate & Housing Committee, Goa Chamber of Commerce & Industry (GCCI). “When Goa RERA (Real Estate Regulatory Authority) was being formulated, Denzil was part of the think tank and advisory process, especially when it came to the role of the Real Estate Agents. “We started pursuing the government to form the RERA in Goa soon after the Act came into force in 2016-17. That’s where we were involved, as RERA made sure that real estate agents who were part of the industry got recognised as important stakeholders. There were lot of issues which we all collectively tried to address and succeeded in our efforts to a large extent. Though there are still many teething issues that need deliberations”.
Denzil Xavier Real Estate Consultants was awarded Business Goa’s ‘Real Estate Professional of the Year’ and the Goa State Brand Leadership Award, both in the year 2017; and also received recognition from the National Association of Realtors. Denzil is a proud Rotarian. He has been a member of the Rotary Club of Panaji Riviera since his induction in 2013. He is currently the Director, Vocational Service. He has served as Honorary Secretary 2017-18, Vice President 2019- 20 and has held many other key positions at the Club.
“There have been incidents where people try to bypass certain rules or refuse to pay the professional fees after the transaction is done. This is the foremost challenge that we have faced in the past. Of late, our firm doesn’t have those problems because we are in this business for 25 years. Today, after having reached a certain level, clients have realised the benefits that we bring to a real estate transaction. We save our clients hard earned money with the best and safe deals. We have also become wealth creators for our clients. But still, it is very difficult for an individual who is trying to get into a profession and is denied his rightful income. We need customers to be sincere in their dealings.”
Denzil advises youngsters who want to get into the real estate consultancy or brokerage field, to concentrate on building up their skills, attract clients the right way and to learn the basics. “Marketing is a different ball game. You have various tools; try to get connected with an association in your area, be a part of it so that you can get your skills upgraded. Our Association (GAR) regularly hosts different programs to build skills. I would say the main foundation for your business has to be trust; you have to win the trust of the customer. For that, integrity, transparency, good work ethics and being organised is key.”
“When we started 25 years back, people were very skeptical about why one needs to deal with a real estate consultant and pay their fees, when they can always go on their own and buy or sell properties. After few years, people realised the importance of real estate consultants, and sometimes the best deals that comes from these professionals. Being in the industry, we have the experience and know every dos and the don’ts, the hows and the whys of the business and secondly, we save time. Most buyers are busy and do not have time to scout properties. That’s when we come into the picture, provide people with tailor-made solutions and that’s how they benefit from it,” explains Denzil. People have realised that it is better to hire a professional consultant and pay their fees, rather than lose all their hard-earned money with unscrupulous touts. “There are a lot of individuals and firms, trying to get into this business. As the competition increases, there are fly-by-night operators as well. Some really want to make a mark and some want to make a quick buck. So do your due diligence. Check the credentials of your real estate consultant before you start dealing with them. Today, there are different ways of finding out about their background. If somebody is known in the market, you will definitely know about them.”
Real Estate Market in Goa
Goa is a very small state and everybody wants a little bit of Goa. Everyone who comes down to Goa ends up dreaming of owning a small little holiday home, be it a 1 BHK apartment to a luxury villa. The luxury segment in North Goa villa market and land prices have gone up considerably during the pandemic. The demand for Goa is high and supply will always be limited. Which is a sign that real estate sector in Goa is very promising.
“In my 25 years of business, I have seen lots of ups and downs, the Lehman Brothers crisis in 2008, for instance; and other challenges. But in Goa, the valuation of properties has never dropped. Sometimes I feel if our government can do something about lowering our high stamp duty, it will be a great relief to the people of Goa. It is already difficult to find accommodation for anything less than fifty lakhs in Goa. People are putting in their hard-earned money and then you have the stamp duty, registration charges and GST all put together which goes above 10% of the price of the flat. I feel that with the support of the government, the real estate industry can also flourish,” says Denzil, hoping to get his message heard by policy makers.
From the very beginning, Denzil’s focus has been on customer satisfaction. They have strived to achieve perfection and do what is best in the interest of clients. “It is very heartening to know that many of our esteemed clients have been with us since our inception. We have come such a long way and having seen all the difficult as well as the exciting and rewarding times, I can honestly say that we, at Denzil Xavier Real Estate Consultants are more energised, more optimistic, about the opportunities and our plans than ever. On this momentous occasion, I would like to express our deepest gratitude and appreciation to all our clients for their business, your loyalty and your support during these past twenty five years.”
Denzil Xavier Real Estate Consultants promise to continue serving their clients with the highest degree of commitment and loyalty and to put in their best efforts at all times.