Know Your Customer


While ‘Know your customer ‘has been the buzz word in the banking industry a very few service providers really know their customer. This is true especially in the real estate industry which is troubled by high inventory, over pricing, legal hassles etc that knowing the customer is last of their priority. A Friend had been on a house hunting spree since sometime. She visited several apartments and villas trying to finalize a property for her family. Infact her every weekend was spent visiting some such property. She went through hundreds of pages of property advertisements both offline and online, did a lot of research, visited numerous property shows, exhibition to shortlist one, but she could never find an ideal house which she could make her home. Was her expectation high? To some extent yes. She felt that none of the builders actually understood the customer requirement. After all buying a house to most of us is a once in a life time investment.  yet she continued to hope

Then finally one day she called me for her house warming ceremony. On hearing I exclaimed almost spontaneously ‘wow! Finally!!’ She explained me about the house the family purchased, the journey and how this place made it to the list. She said with this property, things just fell into places just like in a jigsaw puzzle, a feeling which she never had before.

She said while she really liked the place, there were a lot of other factors which helped her in her decision. There was a bank representative placed at the property site .This made it really easy for her to get the loan approved and the necessary documentation done. There was also an interior designer stationed there who helped her put her dream house in place literally brick by brick. The designer understood her needs and combined it with the available property to give the look and feel which she always wished for. Now the banker and the interior designer really knew their customer and the place to find them. They were at the right place at the right time. Imagine if she had to run from pillar to post to find them, share her specific needs and identify a solution. All this was avoided thanks to the support provided by the builder.

She said the builder helped her with every possible requirement right from helping with a lawyer, a auditor, a banker (inspite of being a pre approved project) etc. it supported her with all the required documents as and when required so as to ensure the entire process was smoothened. While this is a necessity most of the builders do not support in the entire process as it was very time consuming and they have a tendency to do the basic support based on their convenience and not as per the customer’s convenience. Considering that the entire residential project had more than 3000 apartments and villas of which more than 90% of them were sold the effort taken by the builder was truly note worthy.

Apart from the other services provided she said the amenities provided by the builder was  note worthy. While most of the builders provide only the basic facilities like swimming pool, club house gymnasium and few sports facilities, this property actually had a full fledged  clinic, an ATM, super markets, spa, a library and lot of other such facility which no other builder provided. She said this property will ensure that her kids have a very fulfilling childhood with the nature and with lots of sporting activities close to schools etc. she said she was very happy with the decision she made.

Now here is someone who really knew the customer!!!!