Company Profile is an initiative by ListMyStartUp to publish verified information on different startups and organizations. The content in this post has been approved by Address Advisors.
Real estate sector is one of the most globally recognized sectors. It incorporates four major asset classes: residential, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for allied industries such asrise in urban and semi-urban accommodations. It is also expected that the real estate segment will incur more non-resident Indian (NRI) investment both in the short term and the long term.
Address Advisors, like the name, says, they are advisors, who are highly spirited, richly experienced, thoroughly professional & technically sound. Address Advisors is a Bangalore based Real Estate Advisory and Consultancy Firm dealing in sale, purchase and leasing of spaces. It advises and helps you find the best address whether commercial, industrial, residential, owned, rented, or shared!
Address Advisors- Company Highlights
- Company Name-Address Advisors
- Founders-Bhawana Khetan & Sunny Mogra
- Sector-Real Estate Consultant
- Registered-RE Solutions Team, LLP
Address Advisors- About and How it Works
Address Advisors is a transaction oriented, real estate advisory and consulting firm engaged in providing solutions to investors, developers, MNC’s, individuals etc. With about 100+ years of consolidated experience in the real estate industry, they have closed about 300+ deals comprising over 5 million sq. ft. of Real Estate transactions in Bangalore in just 4.5 years.
Address Advisors is Real Estate Broker firm offering services such as investment management, re-financial structuring, leasing, selling, purchase etc and cover the various real estate asset classes such as Residential, Commercial (Corporate Real Estate), Warehousing & Logistics, Land & Industrial, Hospitality etc.
An Address today has come a long way from being a mere necessity to an identity that speaks of stature; to a resource that enhances efficiency; to an environment that optimizes ergonomics. Just as you trust your Doctor, we take pride in understanding the pulse and beyond.
Address Advisors- Founders
Address Advisors is founded by Bhawana Khetan and Sunny Mogra.
Bhawana Khetan and Sunny Mogra
The co-founders Ms. Bhawana Khetan, and Mr. Sunny Mogra have been friends for the last 30 years. Their last stint was together at Cushman Wakefield, where they were both handling different businesses for the firm was a successful one. But Sunny always had an entrepreneurial zeal to start something on his own.
The diverse skill sets which each of them possesses, and the seamless synergy the two can bring to the table lends their partnership an edge over the others. Hence, getting on board for the idea behind Address Advisors didn't require much convincing.. The mutual respect between the two with their belief and support for each other’s talent and growth has allowed Address Advisors to scale heights so quickly.
The clarity of the thought process, exuberance and the ideology behind the startup was what brought the founders together.
As Bawna believes there is no better partnership than theirs in the industry and it's a no-brainer that their synergy resulted in magic. They have very different roles owing to their inherent capabilities and there is a very clear distinction between the roles. Sunny is more of a thinker. Sunny is in charge of marketing and taking the company forward while Bhawana is the muscle behind the company. She handles everything related to execuion.
How was Address Advisors Founded
They wanted to create an Indian-homegrown company that would be the pioneer for setting the benchmark for real estate consulting services in India. Their driving belief is that they can raise the quality and standard of service levels in the advisory business. Address Advisors’ commitment to its clients, its integrity and a non-wavering ethical policy have allowed it to deliver spaces that surpass the expectation of customers.
The formulation of the company, apart from the factors mentioned before, was also driven by the new process it set up to revolutionize the traditional way of working. There is immense scope to execute fresh ideas, inculcate new thought processes and create a conducive atmosphere of learning and growth in the changes brought about by Address Advisors.
Bhawana and Sunny were part of real-estate industry for a long time and wanted to raise the bar on the service levels provided to clients not just on paper, but also in reality.
The idea of validation came when a lot of their co-workers wanted to become a part of the journey. The confidence shown by colleagues and friends in the ideation of Address Advisors spoke volumes about the duo's faith in the business plan. And, a lot of clients were super happy that Bhawana and Sunny started a venture of their own.These customers continue to participate in the brand building process. Their continued support validated their efforts and the very premise that the market really needs something like this venture.
Address Advisors- Name, Logo and Tagline
Bhawanaand Sunny started a company named Real Estate Solutions Team (REST) immediately after leaving their jobs. There was a lot of disagreement on a lot of names. This name was suggested by one of their friends.
As the business picked up speed and different verticals were established to handle different service lines, the company rebranded itself as Address Advisors. It was the first step towards building a brand identity. A professional organization suggested them the name Address Advisors since it could echo easily with the international community as well as the local home-grown community
Both the founders believe in simplicity and crispness. Thus, they wanted a logo that works across all platforms and resonates with the work the firm does. Real estate is driven by location and the Google Pin is an apt logo that simply drives home the point that Address Advisors helps with one's address related requirements.
Tagline: Your Address, Our Advice
Address Advisors plays an advisory role and not simply brokerage work. That is the idea the company wanted to portray in its name and logo. Simplistic to the point and not go overboard with it.
Address Advisors- Vision and Mission
The company has the vision to become a one-stop shop for any and all real estate consultancy and brokerage solutions. Their mission is that name Address Advisors should become synonymous for setting up the benchmarks and standards for real estate consultancy service within India and globally.
They have observed that most Indian companies follow international standards but they wanted to establish new benchmarks through their company which would become the new standards other companies could aspire to achieve.
They inherently believe that their firm which is an Indian home-grown company, can be a pioneer in this field and blaze the paths for young budding entrepreneurs who wish to enter this industry.
Address Advisors- Industry Details
Post Economic Liberalization: When India opened its doors to the world, a wave of economic growth hit the country. Everyone wanted a bite of the immense opportunities that came with it, especially in real estate. This marked the entry of international real estate players in India. Since real estate was a fragmented market and an unorganized sector up until very recently, a lot of these companies were misguided by the realtors. The market lacked a professional setup that was going to help these companies from allied industries with their real estate needs.
So, the idea was to first penetrate the market, make the clients understand the value addition a professional organization would bring to the table and then enter the areas occupied by other competitors. The Company caters to a range of real estate requirements starting from those of an individual to a start-up, to small industries and even to huge corporate giants.
Address Advisors: Target Market Size
Currently, Address Advisors hold a market share of 7-8% of the overall industry with services in commercial, land, industrial, residential, hospitality and retail segment. Presently, Address Advisors is headquartered in Bangalore and is on the growth trajectory to increase market presence by about 50% year on year.
By 2040, real estate market will grow to Rs 65,000 crore (US$ 9.30 billion) from Rs 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent to the country’s GDP by 2025. Retail, hospitality, and commercial real estate are also growing significantly, providing the much-needed infrastructure for India's growing needs. Indian real estate increased by 19.5 per cent CAGR from 2017 to 2028.
Indian real estate sector has witnessed high growth in recent times with rise in demand for office as well as residential spaces. Real estate attracted around Rs 43,780 crore (US$ 6.26 billion) in investment in 2019.
The built environment industry is at an inflection point where new technologies such as Artificial Intelligence will seamlessly transition into the brokerage industry paving new paths for streamlining the practice further. With RERA into effect there will be more standardization and legalized way of doing transactions. This industry is on the path to maturity as is seen in the gigantic policy changes in the recent years. The founders of Address Advisors see this having a positive impact on buyers and the team serving this industry.
Address Advisors- Products/ Services
Address Advisors is in the service-oriented industry and its work practice involves servicing clients with the right knowledge, skill and attitude.
The firm's innovation lies in the quality and execution of service it provides. It understands that the real estate needs and requirements are different for different people. They offer tailored services such as micro and macro analysis to their clients, depending on their requirements, to help them take an informed real estate decision.
Earlier, the real estate spend of companies was not very highly reflected on the balance sheet, but now it is a substantial amount. So, Address Advisors' expertise helps them take an informed decision about their business plan and create a better business sense for themselves.
Their innovation also lies in the manner in which it executes advisory roles. It works not as a typical real estate broker but also advises clients based on real estate knowledge. Address Advisors also believes in cross selling. Most of the time it happens that a client comes with a particular requirement but on understanding his needs the firm understands that he also has real estate requirements pertaining to different asset classes.
Their integrated work structure allows them to service multiple needs of the clients at once. This has been a differentiator for them in this IPC world. The focus is on multiple problems of the client and not just getting done with the deal/ transaction. It may sound very cliché but the magic lies in execution. And execution is something the company has innovated.
Address Advisors is among among the few startups lucky to have a thought process or core business value which wasn't changed. The company's initial thought process was raising the bar with client servicing. With each passing year it has grown; its policies have become better; they have set up new benchmarks for the industry but the core business value and the idea with which Bhawana and Sunny started this company hasn’t changed.
Address Advisors- Revenue Model
They are a broking company. The firm is currently servicing residential, commercial, land industrial warehousing, hospitality and retail asset classes. Address Advisors' revenue model is brokerage.
Address Advisors- Startup Launch
Bhawana and Sunny have been a part of this industry since last 20 years. When they left their previous organization, they didn’t contact any of the clients they had worked for previously, since they believed they were attached to the brand they were working for. There were quite a number of clients they had locally won for their previous organization, who chased them out and wanted to continue working with them irrespective of the brand name.
It was these previous clients who believed in them and in their services,
irrespective of the brand. These clients became the starting point of the company and they still continue to work with them to-date. Their unshaken belief in both Sunny and Bhawana, gave the duo a lot of confidence in what they did and continue to do. That’s what has kept them going.
Address Advisors- Customers/ Clients
For the first three years they didn’t do any campaigns. They were blessed
with immense amount of client referrals, cross-referrals and so didn’t have
the time to create any marketing campaign. The word of mouth publicity
was spreading fast in the client community which believed that theirs was
the consultancy firm to work with as they deliver what they promise.
Address Advisors- Challenges
Hiring the right resource is one of the many challenges that the company faces. Though the real estate sector is humongous, and every Indian knows about real estate like the way they know about cricket, but when you come to the practical aspect of real estate, the reality is different. There are a lot of aptitude and attitude changes that a person needs to make or come with to serve in this part of industry.
And not everyone is cut out to be a part of this industry. It is an industry with limited skilled resources, and very few can execute their jobs to the best of their abilities. Since this is one of the few industries that can create a huge financial impact on the client you are servicing, a wrong advice can lead to a massive drain of the financial resources of the client.
Address Advisors- Mentors
The Address Advisors team is very blessed to have mentors from different fields, different stages and not just real estate, who put faith in them and mentor them.
Everyone from the smallest of the organization who is trying their best to service any part of real estate to any client is our competitor.
Their biggest achievement is divided in three parts:
One, when they can go home every day and know that they have served the client in the righteous manner.
Secondly, to see the happy faces who have worked with them. That gives them a lot of high and the energy to keep on hustling more.
And lastly, when clients come back to them over and over again saying they need their advice.
It may not always turn out to be a monetary benefit but the fact that the clients approach them every time for advice, gives them a feeling that they have done things right!
Address Advisors- Future Plans
Bhawana and Sunny led Address Advisors is looking to expand to different parts of India. So, the immediate future plans will be post-COVID when normalcy returns. Bhawana and Sunny want to establish a few more service lines and growth is their future plan.