This page contains a Flash digital edition of a book.
JULY 2009
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www.opp.org.uk
Project focus

Building agent networks
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57
The network builders
Here is a selection of companies identified by the judges of the
OPP Partnership Awards 2008 as having the best international
INDUSTR
network of agents and packages of support:
Y
PEOPLE
Crest Group (Brazil) Alanda Group (Spain) Property Logic (Morocco) Think Egypt (Egypt) Regnum (Turkey)
This Brazilian developer This Spanish developer has This Moroccan developer, Working with 24 master A network of 30 agents
consultancy built a network built a network of 220 local which has a policy of no agents, with a network were affiliated to this Turkish
of 50 agents to sell over agents and 80 international direct sales, had a network spread across 56 countries, developer’s network last
DESTINA
300 properties in Central agents across the UK, of around 100 agents this Egypt based year, spanning UK, Germany,
& South America, offering Ireland, Norway, Sweden, throughout Europe, consultancy has links to Spain, France, Italy, Holland,
basic commission of 7% Denmark, Germany, Russia Morocco, UAE and the offices in Berlin, Moscow, Portugal, Dubai, Singapore,
plus a bonus of 1-2% for and Belgium with a multi- USA in 2008 - and a core Spain, Beijing, the Middle Hong Kong and Russia
TION
multiple sales and if no lingual team to work with staff of British, Spanish, East and Gulf states with – with support staff who
inhouse personnel are partners and their clients. French, Dutch, German, access to nationals from speak Turkish, Italian,
involved (paid within 7 Commissions around 6% Belgian, Slovakian, Brazilian Italy, Germany, Holland, German and Polish. Based
days of funds on sale). It has are paid immediately on and Moroccans. With Russia, Scandinavia, on performance and project,
multi-lingual support staff completion, and full due commissions of 7-8% and Croatia to deal with agents can achieve between
who speak English, Spanish, diligence documentation available, the first 5% is paid partners. Commission 5-15%, with full payment
Dutch, German, French, is provided upon signing upon the first 20% paid by payments are deducted within 14 days of the first
Portuguese, Swedish and of the collaboration the client and the final 2-3% from the initial deposit, and instalment and signed
Finnish. agreement. on the second 20% payment. paid in full on completion. contract.
BUSINESS
gets round – which is good for us and to be undertaken before marketing on Regnum, as well as for the building Prudential Palm Realty in the US. “There’s
the industry because it’s positive.” begins says McLoughlin, who has permissions. “Having an IDIP report says a short term cost to the developer, but
Due diligence is increasingly commissioned an IDIP report on Astrum a lot about the developer.” it should be worth it in terms of sales.”
important to agents who need to Towers. “If its not all there the agent Schemes like Commission Secure, Fast becoming a basic requirement,
counter negative press and reassure may ask what you are hiding,” he says. where deposits are paid to an and mandatory in Dubai, it’s a cost
themselves that the project will “One hundred percent watertight due independent trust managed by Citadel developers will need to absorb.
complete. Track record on delivery is diligence can be expensive. This is the Trustees, are addressing payment as Five years ago, an international agent
high on the list, as are bank or funding only project where we’ve had an IDIP, commissions are paid to agents on network might have been a ‘nice to
partners and even title insurers – because this was a major overseas push.” exchange of contracts. “It’s a way for us have’. Now, developers are saying it’s a
DE
who are getting more involved in He adds that many agents are interested to attract agents because they know must-have. Alanda’s main market was
VEL
escrow deposit schemes. Third party in the developer’s company structure, they will get paid if they work with us,” UK and Irish buyers, but has maintained
OPER
testimonials and due diligence products not just in the individual property – with said David Pollard of developer Universal its sales levels despite the decline in
like IDIPs, backed by Stewart Title, are agents Property Frontiers and IP Global Vacations Realty, the first to sign up activity. “We’d be a lot worse off than we
becoming more popular; but they need asking for more in-depth background to the scheme. “Resorts need to look are now if we hadn’t expanded our
beyond the UK and Ireland for buyers,” network into Northern Europe,” says
adds Graham Grant, MD of Resort Group Paterson. “We’ve invested in our internet
International. “This scheme encourages activity and our international agency
European agents to feel safer about network. If we hadn’t spent the money
working with overseas developers.” and put in the time and effort, we’d
M
probably be doing about half the level ARKE
Protected payments of business that we are now.” Regnum
Escrow schemes are also important to now makes 95% of its sales through its
TING
purchasers. “Buyers are comfortable agent network. “The economics are
knowing that some of their money simple,” says McLoughlin. “It’s difficult to
is protected in escrow if there is a sell direct without spending a fortune
problem,” says Carla Rayman, Director of on advertising. Building a network is
Saidia sales
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Property Logic offers 3% for lead generation and 5-7% for agency sales International Business Development at much more cost-effective.”
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