Raman Dua: How Save Max founder became Mr 999 of real estate business

The founder of Save Max Real Estate brokerage, Raman Dua narrates how his unique business model catapulted him to the top

By Gurmukh Singh

MISSISSAUGA: Raman Dua is a disrupter who lives by his own rules.

He shook the Brampton real estate market in 2010 when he launched his own brokerage Save Max Real estate to sell houses for a flat commission of $999! 

“Starting my own brokerage after just three years in the real estate profession was a big challenge. But I was eager to do business differently.  My business model became an immediate attraction for people, proving  very disruptive for market players,’’ narrates Raman Dua, sitting in his swanky office in Mississauga. 

He got threat calls. But the determined young realtor went on to script a fairytale success story. 

“The day I started Save Max from my basement, I promised to do deals to the tune of $300 million within three years. People laughed at me. But we reached that milestone within two and a half years,’’ Raman Dua laughs.

Quickly, Save Max was catapulted to the top position in the GTA market.

“The last five years have been a great journey for us and today I am ranked among the top three realtors in the GTA. In fact, I am the only South Asian among top 10 realtors in the GTA.’’

With three offices in Mississauga, Brampton and Toronto, seven franchisees and over 125 people working with Save Max, Dua says he is well on his way to hitting the $2-billion mark in annual sales by 2020. 

“In the last eight years, we have sold more than 5,000 houses worth over $2.5 billion,’’ beams Raman Dua.

“Next year, we will also have our brand-new futuristic Save Max Towers in Mississauga with own helipad – the first of its kind in Mississauga. Isn’t that great?’’ he says.

Indeed, this dynamo of a man has risen to the top from rather ordinary origins.

The youngest son of a realtor in Rohtak in Haryana, Dua was born with business in his genes. “I started assisting my father in his business when I was in 10th grade, and I loved juggling with numbers and money,’’ says Raman Dua.

After topping in his MBA from his hometown, he joined the pharmaceutical giant GlaxoSmithKline which posted him to various places in India.

It was during his posting Jalandhar that the Canada bug bit him. The rest is history.

In this long-winding conversation, Raman Dua narrates his life journey and future ambitions:

Q: First things things. Raman Dua, tell us about your family.

My family originally comes from Lyallpur in Pakistan where we had 12 acres of land. During the Partition, we relocated to Ferozepur in India. In 1957, our family moved to Rohtak. 

My father Madan Gopal Dua was five years old at the time of the Partition.

I was born in Rohtak. I have a brother and two sisters. We were a lower middle class family of seven people who lived in a small 50 square-feet home.

After my graduation, I did my MBA from the local MD University, winning the gold medal. I worked for GlaxoSmithKline for five years before coming to Canada in 2003.

Q: When and why did you decide to emigrate to Canada?

Glaxo posted me to Mumbai, Udaipur and then Jalandhar. It was in Jalandhar that I caught the Canada bug because everybody there would ask me: Apply naahi kita (Haven’t you applied for Canada)?  I also learnt writing and reading Punjabi in Jalandhar.

I applied for immigration from Jalandhar and got my PR within a year. But I waited for eight months before coming to Canada because I was doing very well in India. I was making very good money and had two Toyota  Qualis (I am crazy about cars). But since I was a bachelor, I thought why not give Canada a try.

Q: So when did you exactly land in Canada?

I landed in Toronto on September 28, 2003. I came with a return ticket. As I had no relatives here, I stayed with a friend whom I knew from (Jalandhar )

Q: How did Raman Dua begin your life in Canada?

During my first few days in Canada, I would buy a $10 day bus pass and travel around to explore the city. But whosoever I met on the bus would say: ithe kuchh naahi hai, asin veeh saalon toh dhake khaa rahe haan (There is nothing great here…we have been struggling for years). After hearing their tales, I started doubting my decision to come this country. 

But then I asked myself: `Aren’t there any successful people in this country?’ Then I answered it myself: `But successful drive Mercedes or BMW and you won’t meet them on the bus.’ I decided to buy a car immediately. 

Within 20 days when I decided not to return to India, I bought my own car and started exploring new things. 

Q: To begin with, what did you do to earn livelihood?

Well, when I was about to leave for Canada, I asked a friend what I should bring. He said bring steel utensils as they are very expensive in Canada. I filled half of my suitcase with steel utensils. 

But two days before boarding the flight, I asked another friend about what kind of business we can do in Canada. He said leather is very expensive and that gave me an idea. I was Ludhiana at that time, so I bought five leather jackets and replaced them with utensils in my suitcase.

When I came here, I used to tell everyone that I do leather business in India. I sold those jackets at a very good profit margin. That gave me a business idea and I started getting leather jackets and gloves from India and started selling them here. I also rented a small shop the flea market in Brampton (where Bombay Palace is now located). People liked my leather jackets so much that they used to place advance orders with me.

I set up my own company called Leather World. I would also drive to small towns and go from door to door to sell those jackets. I did that business three to four months.

Q: Then?

Because of some reasons I had to close Leather World. So I joined the World Wide Immigration Consultancy Services (WWICS). 

There is an interesting story behind how I joined them. I was driving by their office when I heard on the radio that WWICS is hiring people. I stopped by their office, just walked in and asked for the job. I had no resume with me at that time. (That’s why I don’t like seeing resumes when I hire people at Save Max). 

Q: Then you went to India to get married.

In 2004, I went back to India to marry my wife Nidhi who is from Chandigarh. I didn’t meet her till our marriage. Our family responded to her matrimonial ad and then my father met her family. He felt that Nidhi is the best match for his son. Dad called me and I said `yes.’ In hindsight, it was the best decision of my life. 

I resigned from my job at WWICS after two years.

Q: Why did you resign?

Actually I was making very good money at WWICS. But one fine morning at about 9 am, a thought popped into my head: `Why shouldn’t I be making quarter a million dollars?’ 

Believe me, within half an hour, I resigned my job – exactly at 9.30 am! I had no real estate license at that time. Nidhi too had no job. But I just wanted to seize the moment!

Q: You are a big risk-taker, right?

Oh, yeah. I am a big risk-taker because I always go with my inner instincts. What I have wished for in life, I have realized that. I have been crazy about making such calls. I feel one should follow one’s gut feelings and don’t wait.

To give another example, when we were about to start Save Max, my wife and brother consulted a priest who said that the time is not right. But I told them that since it is a new business, we are bound to face lots of problems. I said I would rather tackle those problems now than postpone the launch of the company.

Somehow avenues have always opened up for fulfillment of my wishes. In 2008, there came an opportunity to invest $500,000 in a project which required $12,500 in down payment. I had no money in my account, but somehow I made that down payment. 

Q: When exactly did you enter real estate? 

I completed my real estate course in December 2006 and entered the profession in January 2007. 

In the very first month, I closed four deals. In the first year, I sold 50 homes. In the second year, I completed 85 deals. I was doing pretty well.

But since I am a person who loves new ideas and challenges, I found the brokerage atmosphere was not in tune with my kind of thinking. So I joined another  brokerage. Again, the same problem. It was than that I realized I must set up my own brokerage. 

Q: That how Save Max Real Estate was born?

Yes. We mooted the idea in August 2009 and launched Save Max on April 24, 2010 – the fourth birthday of my daughter Shreya – from our basement. 

Q: Raman Dua, tell us about how you decided the name Save Max.

The idea was to create a brokerage that ensures maximum savings for our clients.

If you see our logo, there is an arrow in it. I got the idea of the arrow from what we studied in my MBA course. There was the FedEx logo with an hidden arrow in it. It stuck in my mind. So we put the arrow in our logo to signify growth.

The idea of the dollar sign ($) in our logo came when I asked the designer wife of a friend to make the logo for us. Suddenly, my friend came up with the idea of $ in the letter S. 

That is the story of our logo.

Q: And how did you decide the flat-rate commission of $999?

Because we wanted people to recognize our brand. 

First, we thought of free listings, but my wife said people won’t like a service that is free. 

Then we had settled on a flat commission of $499. But something happened. I met a friend at Tim Hortons and discussed the idea with him. He suggested that we should go with $999. Bingo, I jumped at the idea! 

Looking back, I can very well say that 999 has turned out to be my lucky charm. In fact, I am implementing the 999 concept in my other businesses.  

Q: Where did you start brokerage?

From our basement. Four of us – Sachin Gupta, Ritesh Malik, Nidhi and myself – worked from the basement till we got our first office in January 2012 in the $12-million Brampton plaza we had built.

Q: And Raman Dua became famous as Mr 999!

Yup. Quickly, we became a $100-million company of 25 people.

People started calling me Mr 999. “Here comes Mr 999,’’ they would say.

Q: When did Save Max start growing exponentially?

When we moved into this office in July 2016. I wanted a bigger office as well as serve Mississauga, but all my team opposed the idea. I stuck to my decision and they now agree it was the best move.

When we started operating from this 6,000 square feet office, our business witnessed an exponential growth. Within one year, our sales touched $500 million. 

We have maintained the upward graph and started diversifying.

Q: Tell us about Save Max Towers.

It would be ready by 2020. Save Max Towers will be a state-of-the-art six-storey building covering 65,000 square feet. It is a futuristic project with its  own helipad  – the first in Mississauga!

Q: What other areas have you diversified into?

I started diversifying in 2017. Apart from real estate, I am also now into:

Development

IT

Hospitality

Investment

 

Q: What is the main thrust of Save Max?

First-time buyers, selling luxury homes and investments.

Q: Why do you focus on first-time buyers?

First-time buyers prefer us because our reputation has spread by word of mouth. Satisfied clients then recommend us to their families and friends. That’s how we have grown our business. 

Q: What are your three priorities for first-time buyers?

One, the client comes first.

Two, the client comes first.

Three, the client comes first.

Look, buying and selling real estate is the biggest decision in people’s life. First-time buyers look to their realtor for the best advice. And the reality is that most of the first buyers don’t know what they are looking for. That’s where Save Max comes in.

We look after them and want to ensure that they will be doing business with us even 25 years later. 

Here is an example. After I sold a house to a woman, she felt it’s over and we won’t care for her after the deal. But I looked at her little son and said to her: `Your four-year-old son will also be my client.’ She felt so reassured. 

Then there is a Italian family who came to us seven years ago. Can you believe that we have sold them 35 houses in the last seven years? Once people to us, they always stay with us! That’s is our business model – clients first.

Q: How did Raman Dua introduce different work culture at Save Max?

At Save Max we believe in doing business like a family but not compromising on professionalism. I believe in achieving success with other team members. If my team is successful, I am successful. I ensure that they reach their potential, get paid as per their potential and that they do better than their potential. 

Q: And you all lunch together at Save Max, right?

Yes. All of us bring lunch from home and sit together to share it. Sitting together for lunch has fostered a culture of sharing ideas at Save Max. 

I always keep telling my team never to stop sharing their ideas with us. 

Q: OK. Do you believe that you have also been blessed with good luck?

Oh, well. I feel I am very blessed and I believe there is some power out there. Look, when I wish for something, I started verbalizing and sharing it with others. That creates bigger energy for fulfillment of my wishes.

Q: What is your daily routine like?

I get up at 4.30 am and do my blog for one hour. From 5.30 am to 6.30 am, I read books. Then I go to drop my daughter at school. After that, I play tennis for one hour and I am at office by 8.30 am. I go to bed at about 9.30 PM 

Q: is Raman Dua religious?

Not really. I believe in humanity. As for my being religious, well I have read the Gita and the Quran (shows his copy of the book) and I am go to read the Guru Granth Sahib. However, helping others is my true religion.

Q: Any hobbies?

I like playing cricket and tennis. But my work is my biggest hobby (laughs).

Q: Any favourite travel destination?

I love Mauritius. We went there for our honeymoon. In India, I like Ooty.

Q: Any role models in life?

Frankly, my father is my idol and role model. He has behaved like a fighter all his life.

Q:  Any particular advice that your father ever gave you?

He always said: keep your family connected. That’s why I am deeply connected with my brother and sisters’ families. I brought my sister’s daughter here for studies and got her married. 

Q: Any particular person in your family that you have been deeply attached to?

My maternal grandmother Jeevani Bai. Her death at the age of 105 was the lowest point my life because I was so deeply attached to her. She used to bless me a lot and say prayers for me at gurdwaras and temples. I believe her blessings have made what I am today in life! 

Q: In business, who is your role model?

None. I make my own rules. Though I admire many like Jack Ma and Steve Jobs. 

Q: What is the best book you ever read?

The Gita. I have also read Gandhi, Mandela and Steve Jobs. I also like Duncan Clark’s book `Alibaba: The House That Jack Ma Built’. 

Q: How do you deal with tensions?

I always put myself in other people’s shoes and that helps me solve most of the problems. Understanding other people’s perspectives is the best way to solve problems. 

Q: Do you ever lose sleep over business matters?

Not at all. I live in the present. 

Q: Any particular thing or deed that gave you the biggest happiness in life?

There are tons of them. The one gave me the greatest happiness is about my niece Lashika. I brought her to Canada from India, gave her education and then got her married. 

Q:  So giving back is your motto. 

Yeah, very true. In my hometown Rohtak in India we have opened a state-of-the-art hospital to serve the community. Called Kainos Super Specialty Hospital, it provides the best care for trauma and cancer patients. 

I have partnered with two doctors from Britain to start this hospital and we have spent more than Rs 50 crore on it.  I am committed to it for the long term.

Q: How about giving back your loyal customers?

We give a big thanks to our customers by organizing an appreciation event in May. Can you believe that about 4,000 people attended it this year? Earlier, we used to hold this event in April to coincide with our daughter’s birthday. 

Q: We heard this thing called junior CEO at Save Max. What is that?

Well, each year we appoint a youngster as our junior CEO. Here is the story behind this concept. 

My friend’s son Tushar was given a two-page article to write on any topic. But the poor boy was struggling with it. Then his father suggested to him to write about Save Max and he wrote it quickly!

When I came know about this, I decided to recognize Tushar. I hit upon the concept of junior CEO at Save Max to encourage young leaders like Tushar. 

The term of the Junior CEO is for one year. He gets a laptop and $500. Plus he gets to serve as the CEO of Save Max for one day!

For the first two years (2015 and 2016), Tushar was the junior CEO. Then we broadened the selection by inviting applications.

Q: How about your own little son Krish? 

But Krish is still five. He was named Krish because he was born on Janaashtami day. He always comes to my office in three-piece suit and knows who is doing what. In fact, he knows the nickname of everyone in our office. 

Everyone in neighbourhood calls him the mayor of the street! 

Q: The mayor of the street?

He is such a dominating character. He just dictates and they all listen to him. They have started addressing as mayor of the street!

Q: What is the best advice you will give to an aspiring entrepreneur?

1: Don’t hesitate to make decisions.

2: Go with your gut feelings.

3: Break the rules.

Q: If your weren’t realtor, what else would you be?

Maybe a part-time comedian (laughs). People like my sense of humour! 

But frankly, I hate doing jobs. Business was in my blood because I started helping my realtor father when I was in my 10th grade. I liked playing with numbers and money. 

Q: What if you had stayed back in India?

I might have been in real estate and very successful.

Q: Any wrong decisions in life?

Either it was a right decision or a learning curve.  

Q: Besides all this, what else does Raman Dua cherish most in life?

I am blessed and I want to share my good fortune with others. 

We have set up the Krish Hope Foundation to help kids. 

Under this Foundation, we sponsor 100 kids each year for their recreational activities. As part of it, the Foundation holds a summer camp of four weeks where these kids enjoy playing soccer, basketball, etc.

The Foundation is also helping physically challenged kids with therapy. We work with speech therapist Seema Shah to help the needy kids. 

The Foundation has also adopted a one-year-old kid from Kitchener who suffers from a rare eye cancer called Retinoblastmo. We will send him $1,000 every month till he is 18. (Updated: First published on August 15, 2019)

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