56
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INTERNATIONAL PROPERTY DEVELOPER www.opp.org.uk
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JULY 2009
to be given regular updates. Keeping says owner Ian Waudby, commenting on marketing; online and in print. However,
the product fresh is what we do best - support for its network to sell projects developers must invest in multi-lingual
Y
f_i nding new angles and stories to keep in Brazil. “We create a white branded staf_f to deal with enquiries. It’s all very
agents interested.” website for every project where sales well targeting Russians, for example, but
Contributions to marketing costs teams can easily check online up to date do you have someone inhouse who can
INDUSTR
tend to impress agents but they need availability and prices and download all talk to agents and their clients?
to be motivated to sell. Property marketing materials we provide such as After-sales service is important
Logic subsidises inspection trips, but e-brochures, pictures and f_l oor plans.” because agents can win referral
that subsidy is of_f set against lower In the shifting sands of the overseas business from happy clients. “Freeing
What do agents want from
commission levels. Alanda of_f ers property industry, where apparently them up to do that is the developer’s
developers?
complimentary accommodation in its solid players have gone bust, stability job,” says McLoughlin. “Just spending
Frequent updates, ease of informa-
resort hotels to agents and their clients. and continuity have become more money on signing up agents will not
tion, incentives, marketing material
“You’ve got to work your agents,” says important to agents. “Property Logic deliver sales in the long term if the
we can brand with our information
developer can’t handle the process
and logos, and timely payments.
We’d be a lot worse of_f than we are now if we hadn’t expanded ef_f ectively.” Associated service providers
Developers don’t communicate
PEOPLE enough. They think agents are
our network into Northern Europe. If we hadn’t spent the money have become a key element in sales
working against them. We all have
and put in the time and ef_f ort, we’d probably be doing about half and after-sales, helping to expand the
the same goal - to sell a home or
the level of business that we are now. international reach of the network with
apartment. Due diligence is still a Kandy Paterson, Alanda Group referrals as well as providing services
tough conversation to have with that facilitate the process – from legal
developers, particularly if they are
Paterson. “You’ve got to be in constant has had the same administration team and tax to mortgages and wealth
small, but money spent up front
contact with them.” She visits each agent since the beginning, and the managing management.
on due diligence can help speed
once a year and phones them regularly. partners are always available,” says Pellet. Sarah Hordle, an IFA who works with
up the agent sign-up and sales
TION
“More than one Spanish developer “Agents need to know the people who developer Giovani in Cyprus, says having
process. Buyers also want to be
has told me recently that their solution make the decisions are in the of_f_i ce.” a ‘one stop shop’ with legal and f_i nancial
reassured that the developer is
to the current sales slump is to abandon Anything that makes the sales expertise in the network benef_i ts many
f_i nancially strong, has proper title
to the land, and will do what they
their network of agents and instead process smoother and faster will appeal agents. “It helps increase the ef_f_i ciency
DESTINA
promise. Skip the f_l uf_f and give me
improve their web site,” observes Le to agents. Developers, particularly in the of the process,” she says. “Everyone
the facts - good and bad.
Lacheur. “They fully expect buyers UAE and Turkey, pre-empted the credit wants the sale closed, and I can get it
Carla Rayman, Prudential Palms Realty and investors from 10 to 20 dif_f erent crunch by sourcing bespoke f_i nance and all through more quickly.” IFA networks
countries to f_i nd them in the f_i rst working with mortgage brokers and IFAs like ROPUK work closely with their
instance and then respond to the to qualify buyers. Many have internet- developer partners to ensure members
online content, as opposed to dealing enabled the entire process, including have access to everything they need to
with knowledgeable, local agents who payments, through FX partners who can sell to investors, from due diligence and
understand the needs, buying habits manage the transaction with savings marketing material to local tourism data,
and culture of their clients.” on transfers and f_i x rates to help tie mortgages and realistic rent levels.
The right combination is the best buyers in to a sale. White label sites for
BUSINESS
solution, of course. FMS Consultants, partners help them to of_f er one stop Commission concerns
What should developers expect from
which worked with Property Logic shop platforms for these associated The rate of commission seems to come
their international agents?
to help build its network, places services as well as containing all relevant some way down the list when agents
Bring qualif_i ed buyers through
great emphasis on ‘white label’ web due diligence information, like title, are evaluating a developer, as timeliness
the door. This process can only be
marketing. “All our marketing material planning and bank guarantees, as well is more important. Property Logic,
achieved if the agent is kept up to is completely white branded so that the as contracts and online reservation. which of_f ers 3% for lead generation
date on their product knowledge agent knows and feels reassured that we The most progressive developers and 5-7% for agency sales, has a strict
and availability of properties
are not competing for the same client,” have invested in multi-lingual 15-day rule for paying the agent. “It’s
OPER
by the developer. The ultimate
important for people’s cash f_l ows,” says
agency is one which creates and
Pellet. “Commission levels are always
VEL maintains its own marketing
at the top of agents’ priorities,” adds
DE
campaigns, has a clear and up
McLoughlin. “But they don’t come up
to date website, attends exhibi-
with it right away - they take a look at
tions, promotes in the press, has
a network of agents and/or has
you f_i rst. Commission rates are not a
a specif_i c market or centre of
dif_f erentiator. If anything, it’s a negative
inf_l uence which provides a steady
one as the highest commission payers
stream of leads. To help justify the are often poorly funded developers who
levels of commissions they need need quick sales.”
TING
to consistently introduce qualif_i ed
Some developers are becoming
buyers to the developer and take a
more generous with commissions at a
pro-active role in the sales process.
ARKE
time when agents are more prepared
M
I believe that performance based
to accept lower commissions if they are
commission structures are the fair-
paid quickly. “I get a buzz out of paying
est way of remunerating agents.
Phillip Menicou, Demari Developers
my agents within 48 hours,” said Guy
Talking sales
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Alanda’s multi-lingual staf_f have helped agents sell its Flamingos project Tolhurst of Intelligent Partnership. “Word
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