22
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PEOPLE John Howell on IFA introducers
www.opp.org.uk
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JULY 2009
JOHN
Y
HOWELL
INDUSTR
Taking the lead
Only pro-active introducers are likely to be the best lead generators,
but are IFAs genuinely motivated, or qualif_i ed, to refer business?
Dedicated to
John Howell is a senior partner
at The International Law
Partnership LLP.
I
n these dif_f_i cult times, agents and developers are looking many are uncomfortable about giving advice about an asset class
Comments?
for anyone who is prepared to buy property overseas. The with which they are unfamiliar, in a world where unhappy clients
Excellence
✆ 0044 (0)20 8439 5750 International Law Partnership is often asked by developers sue at the drop of a hat. Furthermore, most IFAs would certainly
editor@opp.org.uk
PEOPLE
and agents who the best source of introductions are, how much not have the knowledge to talk to a potential buyer about the
introducers expect to be paid and how many sales should countries or properties a buyer might f_i nd of interest.
Iacovou Brothers (Development) Ltd,
realistically be expected in the UK market in today’s climate. As a result, simply looking for introductions from IFAs has not
The short answer is nobody has the faintest idea. Nobody knows always worked and is not likely to work very well in the future.
with it’s vast experience, expertise and its
how long this property recession is going to continue or how many The IFAs need some support. They need back up information
passion for building excellence, creates
buyers will be tempted into the water. In the meantime, we do and sales aids. They need reputable reassurance that the property
know who is still buying overseas property. on of_f er is legitimate; for example that it has good title, proper
your new lifestyle.
Generally speaking, the people who are still buying fall into three planning consent and constitutes a reasonable investment
TION
main categories; shrewd investors paying deeply discounted prices proposition. They need help closing sales and following up on the
✓ Prime Locations
for good property, retirees who are not going to let something as sales that have been made.
insignif_i cant as a global economic meltdown get in the way of their
✓ Excellent Investment Opportunities
plans, and the odd wealthy individual looking for a holiday home. Introducer or agent?
DESTINA The people who generally have such skills and facilities are agents.
✓ Freehold Properties
In reality, few estate agents appear ready I can see many advantages to agents using IFAs as lead generators
✓ Guaranteed Title Deeds
to adjust their business to meet the needs of provided agents recognise IFAs are working in a regulated
the IFA, but those IFAs and agents genuinely environment and have professional and legal responsibilities to
✓ Established for over 40 years
prepared to work together should do well, even clients.
in today’s challenging times. In reality, few estate agents appear ready to adjust their
✓ Innovative Designs
businesses to meet the needs of IFAs, but those IFAs and agents
✓ Guaranteed High Commissions
Need to know genuinely prepared to work together should do well, even in
All of these categories crave information. For example, the investors today’s challenging times.
are looking to understand which markets will work best for them. Finally, tackling the same audiences, direct marketing to the
BUSINESS
The person wanting to retire needs to know about many things same investors and retirees is an option. Unfortunately, it is an
from healthcare, insurance to what English language facilities are expensive option and for the small developer or agent it doesn’t
available in the area. appear to be cost ef_f ective.
For this reason, seminars presented by genuine experts are still a
cost ef_f ective source of buyers. They’re not the only way to source Lead generation
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IFAs
buyers, of course, and the people who can best introduce you to have been criticised for
buyers in this market are those who have access to and conf_i dence having to be dragged
www.iacovoubrothers.com
in buyers. into the overseas
OPER
This has led many developers and agents to try to do business property market
VEL
with independent f_i nancial advisors (IFAs). Most IFAs have
portfolios of wealthy clients who need to f_i nd something to do Cyprus with over 9,000 years of history is of 1,000 high calibre dedicated professionals In
DE
with their money in today’s world where the stock exchange is something truly special. In fact the privileged weather fact it is the Iacovou Group’s single philosophy
scary and banks pay nothing by way of interest. It is possible, conditions make Cyprus the ideal place to work, live Dedication to Excellence, that has made it
with full professional conf_i dence, to make an excellent case for and retire. The mystic charm of Cyprus, embraces possible for the Group to achieve so much in this
international property as a preferred investment class in this not only the mind but also the soul of each and competitive industry both locally and internationally.
environment. every visitor. The history of over 9,000 years, coexist
Tapping into the IFA network has certain advantages. Not only harmoniously with the natural beauty of the island Iacovou Brothers (Development) Ltd is now
Contact details:
do they have access to high net worth investor clients but they and everything you would expect from a modern looking to accelerate its international expansion
TING
are also likely to be giving f_i nancial advice to people nearing European society. through the development of an Associates Network Andros Andronicou
retirement age. of truly dedicated Agents/ Brokers/ International Sales & Marketing Manager
ARKE
Driven by a passion for Building Excellence, Iacovou Financial Advisors that will promote the company's Iacovou Brothers (Development) Ltd.
M
The downside Brothers has since 1968 grown into one of the range of products to the general public.
In reality, however, it is not quite as simple as this and tapping largest and most progressive Group of Companies tel: +35 724 823 777
into the IFA network indeed has disadvantages. Years of experience in Cyprus. With a reputation that is second to none So contact us for further details so as to see how you fax: +35 724 823 780
shows few IFAs are good at mining their potential list of buyers and the Group currently employs a workforce in excess could become part of our international network.
www.iacovoubrothers.com
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