Dev Joshi of JMD Furniture
The JMD Furniture brand has grown to become the Northeast’s premier dealer in furniture of all varieties under the leadership of founder Dev Joshi. The company has benefitted from the range of skills and experience Joshi has acquired over the course of his career which has included an academic education in computer science. Upon founding the JMD brand, Dev Joshi and his four family members come business partners wanted a name highlighting their morals and beliefs. The group eventually settled on “Jai Mata Di,” a Hindi phrase bringing positivity to those who say the words.
As a founding partner of the brand, Dev Joshi has taken on a range of different roles with the company including graphic designer, marketing expert, and his current position of CEO. The position of CEO of a company which has expanded into several locations across the Northeast is a tough one, and Dev Joshi believes allowing customer feedback to play an import role in the direction of the brand is important.
What do you know about the real estate industry?
I know a little about the real estate industry from my role with JMD Furniture and personal experience. At JMD we have been involved in some real estate deals in both the rental and purchasing sectors. For myself, I have been involved in a couple of real estate deals when I purchased my first apartment and later a family home.
Have you ever sold real estate? How did you make it happen?
The only real estate sale I have ever been involved in was a personal one. I sold my apartment with the aid of a real estate agent friend who guided me through the entire process with the minimum of fuss. To be honest, I was bitten by the real estate bug, but I do not have the time to get involved because of my role with JMD.
How much experience do you have in buying or selling real estate?
My experience is limited in the residential real estate market, but I do have a little more experience in the commercial real estate market. We have recently been looking to purchase our locations and make sure we can plant roots in each community we enter throughout the Northeast. The commercial real estate market can be tough with my company facing issues with zoning laws and parking issues when we look for the best location for our new properties.
Have you ever made a sell or a purchase you have regretted?
To be honest, I don’t think I regret any real estate deal I have undertaken as a private person or as the head of JMD Furniture. We recently decided to sell my childhood home when the last of my siblings left home, and I have had some pangs of regret about that. The weight of history weighs on the heart more than business does on the head.
What advice would you give inexperienced who are wanting to buy or sell?
Just like the furniture business, a real estate agent who does not know what they are talking about will soon be found out. My advice in any business sector is always to learn as much as possible about the area one is working in before trying to make a sale.
What have you found out to be the best way to market property?
Our recent real estate decisions at JMD have taken in a lot of Internet-based research in the early stages. Making sure high-quality images are available Online should always be a priority for any seller as my first impressions of property are usually formed during an Internet search. It is also important to make sure the exterior of a property is maintained correctly because I will walk away from a property I feel has not been maintained correctly.
What tools do you believe are essential for success in the real estate industry?
Excellent communication skills are a must, in my opinion. I need to know exactly what I can and can’t do with a property when I am considering a deal. Knowing your facts is important to me as I don’t want to spend my time going through a complicated back and forth about what I can and cannot do with a property.
What has real estate taught you about life?
The real estate markets are a reflection of the life we live as we must communicate and strike a deal quickly and efficiently. Once a deal is struck we must both keep our side of the bargain for it to be judged a success.
How can you use what you have learned in real estate to succeed in other areas?
The commercial real estate sector in the Northeast is so fast-moving I often feel it is difficult to strike any deal. However, I believe the movement of the markets have allowed me to learn a great deal about moving as fast as possible in my business career and life.
Do you have a mentor who taught you what you know?
I always return to the advice of my father who is an excellent businessman. I trust his advice completely about every aspect of life and business, including real estate.
Do you have a feedback system? How does it work?
At JMD we are always interested in customer feedback as a source of information. In fact, it is an area I have placed the greatest importance on as I believe the need for happy customers is extremely important. Whether delivered personally or via our Website, I try to read every review of our company and take on board the comments made.
