But the Colaba resident chooses to highlight something most people would want buried and forgotten. He failed in Class 12.

"I was down in the dumps, but I didn't let it get to me," said Malkani, sitting in his office conference room, his Blackberry buzzing with calls and messages . "I learnt to deal with failure. So, today, if a deal does not come through, I don't brood over it."

Malkani was born into a family of highly educated people. His father was an engineer and his grandfather a doctor. The pressure to "keep up" led him to take up science after his Class 10 exams. But he did not succeed in passing.

After appearing for his class 12 exams through the National Open School, he moved to commerce. He tried his hand at various jobs while studying to be a graduate - from an event organiser to working in a pastry shop.

Somewhere in between, he was introduced to the world of real estate by a grandaunt who had been in the business for years. "I spent time with her and my uncle, who was a realtor in the United States and understood the business," he recalled. "It was during my interactions with my grandaunt that I heard the word ‘broker' for the first time."

Dalal to consultant

 He joined the property listing portal indiaproperties.com, run by his uncle, Naresh Malkani. "My responsibility was to tap agencies for property classifieds that could be listed on the site," said Malkani. "I would also network with brokers and builders to convince them to use our services."

His first successful deal was the sale of an apartment in Worli's Madhuli building for Rs 72 lakh in 2002. "Soon, I realised that I loved dealing in the residential part of real estate," said Malkani. "The joy you experience when you get someone a house is something very few jobs can offer."

Today, Malkani has moved on from being a "broker" to being a "consultant". But he still remembers how he cried when he had to step out of his cocooned south Mumbai life for his first outdoor assignment in Kolkata. And his first-ever apartment inspection. "It was a flat in Colaba. I was so excited that I bought new clothes for that day," he said.

What happened next was an eye-opener for Malkani, who had just entered the 20s. "When I introduced myself to the domestic help who opened the door, he called out to the flat owner, ‘Memsaab, dalal aaya hai' (Madam, the middleman is here)," said Malkani. "That day, I decided I would work towards improving this ‘dalal' image."

The fun has just begun

 Malkani decided the real estate industry was his for good. After he graduated in 2004, he worked with various international property consultants, or IPCs, as they are called. As Mumbai grew into a megapolis and the demand for real estate accelerated, Malkani's profile improved. The retail boom created more opportunities. It meant more work, more travel and more money. It took four years for his monthly salary to move from Rs 5,000 to Rs 12,000. Today, seven years after he joined the industry, it runs into six figures.

The real estate industry has moved from being an unorganised business run out of tiny sheds to an organised industry with many developers, builders and IPCs playing in the market. "Many parents want their children to be doctors, engineers or bankers," said Malkani. "But not once did my parents make me feel I was in an industry that wasn't organised."

He joined the business when it was in its early stages, and today has a job many would envy He made sacrifices, but they were worth . it. "I would be working when my friends went out for movies. But I bought my own car at 20," said Malkani, who owns a Maruti Swift but prefers travelling by train to save time.

He has travelled the country in state transport buses. "With livestock," he added. His job requires him to adapt to diverse circumstances. "I could be sipping cutting chai at the local tapri (a small tea vendor's stall) one moment and walking into a five-star hotel the next. I am comfortable with both," he said.

Malkani, who now concentrates on corporate real estate, said he could not see himself doing anything else. "If you are a go-getter, enthusiastic, with fire in your belly, this is the job for you," he said. "Come with an open mind and an intention to learn something, not just to make money immediately ."

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A day in his life

 6:45 am: I wake up to collect milk and to abuse the milkman for waking me up so early.

7:00 am: Open the door for my maid. She picks the shirt I wear to work so she first needs to iron it.

7:15 am: My daughter normally wakes up at this time, so I feed her some cornflakes and milk or a paratha.

 7:45 am: I wake my wife up and hand my daughter over to her.

7:50 am: I'm off for my bath, and if it's not too cold then I bathe my daughter too.

8:30 am: I leave for work. I either drive or, four out of five days a week, I take the train.

9:30 am: I reach my workplace.

9.30 am to 10.30 am: I reply to emails.

10.30 am to 1:00 pm: I attend team meetings, follow up on prospective clients and projects. I also catch up on market news.

1:00 pm to 1.30 pm: I normally eat lunch.

1.30 pm to 6:30 pm: I do more follow-ups if needed. I email and phone old associates and clients.

7:00 pm: I head home to Colaba.

8:30 pm: I feed my daughter or take her for a walk.

11:00 pm: I sometimes do a conference call with my company's overseas offices or work on the computer. On good days, I'm off to bed by this hour.

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Case study

BUILDING DREAMS : UMESH SALUNKHE SAYS THE CONSTRUCTION INDUSTRY NEEDS HIGH-CALIBRE, TECHNO-COMMERCIAL MANAGERS

CHATROOM: JANAK MALKANI ON HIS WORK AS A REAL ESTATE CONSULTANT

 After a buyer and seller have agreed on a figure, both parties will wonder if it is the right deal. Managing this remorse is the biggest challenge. You have to be very patient and let both parties take their time to decide.

What are the positives of working in the industry?

There is a little bit of every aspect you get to learn - laws, finance, management. It is a great platform to understand how businesses are run from the real estate point of view. You interact with people across the spectrum. But the greatest joy is watching a family plan its future when you show them an apartment.

And the negatives?

 It is not a negative, but there is great buyerseller remorse. After they have agreed on a figure, both parties will wonder if it is the right deal. Managing this remorse is the biggest challenge. You have to be very patient and let both parties take their time to decide.

How good is the money?

 A fresher out of a decent business school can start at Rs 40,000 to Rs 50,000 a month with an international property consultant (IPC) or builder. And then there are commissions, which can be up to ten times your cost to company .

My grandaunt who has been in this business for a long time always jokes that the only other industry where you can make this kind of money is the drug business.

Where do you see yourself ten years down the line?

 In the same industry. There is no way I am getting out of the real estate business. I may do something on my own, probably start my own consultancy .

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Case study

 UMESH SALUNKHE ,27  Job: Deputy manager, planning, in  a construction firm  ye Salary: Rs  6 lakh a year

When I graduated, only the software industry was booming, and all mechanical and electrical engineers went there. Today, they are all returning to the construction and real estate industry.

UMESH SALUNKHE acquired his civil engineering degree at a time when all a civil engineer did was stand on site - which is usually a dusty road - wearing a yellow helmet.

Salunkhe, too, went through the grind, but a little value addition to his engineering degree opened up a new avenue for the 27-year-old. He studied at the National Institute of Construction Management and Re search (NICMAR), Pune, and now works with reputed builder and developer Shapoorji Pallonji as a deputy manager.

"Earlier, a civil engineer simply built a wall," said Salunkhe. "Now he or she also uses principles of man agement to plan the opti mum use of resources to build this wall." A Thane resident, Salunkhe is like thousands of civil, construction, me chanical and electrical engineers who, thanks to the boom in the real estate and construction industry, have better career options.

"The industry needs high-calibre, techno-commercial managers," said Salunkhe. " Anybody with degrees in these disciplines of engineering, and who is armed with a degree in construction or project management can enter a developer's set up at the managerial level."

Salunkhe's work profile is a far cry from his father's, who is also a civil engineer working with the Thane Zilla Parishad's (the district's governing body) maintenance department. "As a child, I would accompany my father on site visits. That is how I got interested in construction."

Salunkhe had the choice of specialising in mechanical or civil engineering, but chose the latter. After graduating from Datta Meghe College of Engineering, Navi Mumbai, in 2002, Salunkhe went through the traditional routine of standing at sites from 8 am to 11 pm. "I knew I needed value addition. A friend suggested I take up the course at NICMAR," said Salunkhe.

Four years later, he is glad he took his friend's advice. He earns Rs 6 lakh a year. And works hard for it. He leaves for work at 9 am and often ends up working until 11 pm. When a project's deadline approaches, he works on weekends too. Whenever he does get a Sunday off, he spends it with friends and watches movies.

He has no regrets. He is, after all, part of a billion-dollar industry, growing at 30 per cent every year.

"When I graduated, only the software industry was booming and all mechanical and electrical engineers went there," said Salunkhe. "Today, they are all returning to the construction and real estate industry .

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Case study

 rapidfire

Star sign:

 Cancer

What makes someone suc cessful?

Hard work, hon esty, and just plain good luck (joking). No. I guess success is different for different people. For me, success would mean being happy emotionally and financially. So, for me, what makes someone a success is being honest to one's job and family, and having the will to work hard on one's professional and personal life.

What's the one thing you will never do?

 I guess the one thing I will never do is leave the real estate business. The one thing I would not do is throw away what life has given me.

 If you weren't a property consultant what would you be?

A politician. As much money can be made!

 What is your biggest achievement?

My wife.

 How important is money to you?

As important as the monsoon is to Mumbai.

 What did you do last night?

After a long time, I slept at 10.30 pm.

Favourite bar?

The Ghetto at Breach Candy

Gin and tonic or rum and Coke?

 Rum and Coke.

 Favourite brand of vodka.

Absolut Pepper.

Favourite car

 Currently, my favourite is the Maruti 800 (joking). I am not a car person, so the car I would like to own right now is a Honda City. Otherwise, any BMW.

Yoga or tai chi?

Yoga.

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news you can use

 COMMISSIONS ARE ATTRACTIVE.

The lower you are in the hierarchy, the lower your sale tar gets, so you can exceed them more easily and earn more commission.

Corporate Ladder WITH AN INTERNATIONAL PROPERTY CONSULTANT (IPC):

 A fresher with no experience would usually join an IPC as an analyst and work on transactions with a manager. He or she would then move on to become an associate or assistant manager, depending on how he or she performs. It usually takes two to three years to get to the assistant manager level. The next step is manager, then regional manager. One could move on to becoming a head of department and then a director.

WITH A BUILDER OR DEVELOPER:

You join as an assistant manager and then have the same curve moving up - manager, senior manager, head (sales), vice-president (sales) and so on.

Show me the money

COMMISSIONS If your salary Rs X, you need a sales invoice (or bill) about five times that for you to be eligible for a commission, which ranges from five to 10 per cent. For example, if, in a year, you manage to invoice 15 times your salary you can be eligible for even 15 per cent of that amount.

SALARY WITH AN IPC 

Analyst: Rs 3  to 4 lakh Associate manager: Rs 4 to 6 lakh Assistant manager: Rs 7 to 8.5 lakh Manager: Rs 9 to 11 lakh Senior manager: Rs 11 to 14 lakh Regional manager: Rs 15 to 18 lakh Director: upwards of Rs 25 lakh

SALARY WITH A BUILDER

 Assistant manager: Rs 3 to 5 lakh Manager: Rs 7 to 12 lakh Senior manager: Rs 12 to 15 lakh Head of sales: Rs 15 to 20 lakh VP, sales: Rs 25 lakh upwards

Commissions are usually paid yearly as a bonus.

NOTE: All salaries are per annum.

Can I do this?

SKILLS

1. The field is as open to management and engineering graduates as it is to graduates from conventional streams like commerce.

2. A finance background can be an asset while a degree or diploma in civil, mechanical or construction engineering can open more doors. However, you could undertake specialised courses.

3. You need to be immensely patient. Clients will take time to decide because the money involved is big.

4. Developing good negotiation skills and business acumen will help.

5. Strong public relations will always keep you ahead. Keep in touch with clients, brokers and contacts you made along the way. You never know when you might need them.

TRAINING

 INDIA INSTITUTE OF REAL ESTATE (IIRE) India Institute of Real Estate offers online courses in Principles and Practices of Real Estate and Transnational Referral Certification. The IIRE has been accredited by National Association of Realtors (NAR), US, to offer real estate certification programmes in India. You can earn the designation of a Realtor (a trademark of the NAR, US) and can network with property consultants across more than 50 countries.

 For more information, log on to www.iire.co.in or call 1-600-11-7707 2729-0981, after office hours: 9890238936 >> More on www.hindustantimes.com/ hotnewcareers

GO GLOBAL

 Laws in countries abroad are stringent and they prefer applicants with a realtor certificate.

"Once you have that under your belt, the world is your market," said Chetan Narain, chief executive officer, Narains Corp. "But even I wouldn't want to hire someone without a certificate. It is bet ter to have a certified real estate specialist instead of self-styled, selfappointed property consultants."

You could tap companies from across the world - from Australia to Canada and Europe - for opportunities.

West Asia has a booming real estate market and one could get into broker age and transaction services here after procuring a licence, with a local resi dent there as a partner. - Working with international property consultants allows you to interact with the company's overseas offices.

>> More on www.hindustantimes.com/ hotnewcareers

PLUSES AND MINUSES

1. The money is good. A commerce graduate could start with Rs 15,000 a month while a management graduate could even draw thrice that sum as a starting package. And then there is brokerage, which could be as much as ten times your cost to company.

2. You need to be tremendously patient. A client could take forever to make up his or her mind. And then he or she may change it.

3. The industry is growing and competition is tough.

4. You may have to travel a lot.

>> More on www.hindustantimes.com/hotnewcareers

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