FEBR UARY 2010
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www.opp.org.uk Developer focus
•
Distribution networks
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49
WORDS
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Alex Evans
INDUSTR
Y
A small investment that will deliver
tremendous benefits.
PEOPLE
The perfect match
DESTINA
The fi rst in a series of OPP guides to building eff ective distribution TION
off ers initial insights on how to make product appealing to
™
international buyers and processes to engage your network of agents
™
In the good old days before the and aff ordability as well as creating Price lists need to be dynamic so agents can see property is being
credit crunch, developers could compelling packages that tick all of the sold every day. You need to make the process as simple as possible
The Broker/Client Fly and Buy inspection visit provides the opportunity to see first hand the Best of the
target four or fi ve agents in important boxes. so all agents need to do is push the button to their databases.
BUSINESS
Americas, Award-Winning Property and Development, Emerald Monkey
TM
Eco-Luxe Resort and Residences.
one market to sell out a development. Drilling down into the boxes that Carl Warner, Pioneer Property
Experience the exotic topography, luxury and exclusivity of Emerald Monkey
TM
as well as the charm of Bocas Town
Those days have gone, and selling must be ticked, today’s buyer is
and the spectacular nature of Panama’s Caribbean coast.
developments is now about multiple not only more savvy about realistic Kuwait-based IFA Hotels and Resorts delivery and fi nancial credibility.
countries and multiple agents. pricing but wants the full package was off ering a guaranteed buy back All planning permissions and bank
Broker Fly and Buy Inspection Visit Offers:
The economic downturn led to – easy access to the best location, premium of 10% after fi ve years for a guarantees must be immediately
• $2,500 reimbursement on the first whole villa purchased or $1,500 reimbursement on the first
a vicious circle of mistrust between specifi cation, local amenities and hotel condo product in Dubai back in available and accessible to whoever
fractional villa purchased within 60 days of visiting*
developers and agents, with facilities. Today’s investor buyer knows November. asks for them, with those presenting
• All travel and accommodation expenses within Panama will be paid by developer
developers investing in marketing that high capital growth is unlikely While the line between lifestyle regular updates on completion targets
• Prompt commission payments within 10 days
support and high commissions for and is more interested in steady and and investor buyer is far less blurred, likely to reassure most.
• Opportunity to receive a 2% commission bonus on any purchases made during the Client Fly and Buy
big well known agents who (wrongly) realistic rental income – not necessarily developers must consider a variety of Dutch developer IPI, winner of OPP
DE
assumed their brand alone would sell to cover monthly mortgage payments product packages to cater for a range Best Developer in 2009, produces
VEL
Client Fly and Buy Adventure Offers:
– and good agents losing commissions but more than enough to cover of purchasing scenarios – from full a monthly update newsletter on
OPER
(and clients) as developers failed to maintenance and rental management and shared ownership options to fund construction progress and a quarterly
• Pre-delivery villa pricing available until January 31, 2010
complete or went out of business. – so exaggerated claims or guarantees investment and pension schemes. “professionally produced” video
• 3 day, 2 night adventure in Panama City/Bocas del Toro
No-one is immune to the eff ects will deter them. Far more conscious “We are considering new ways of update. A dedicated after-sales team
• All travel and accommodation expenses within Panama will be paid by developer
of the recession, and everyone has of protecting deposits and changing motivating clients by modifying many for clients or partners ticks another box.
• VIP services provided
had to rethink their position on the market conditions, they want escrow of our current off ers to match the If agents have learned anything at
• Tour of Emerald Monkey
TM
and Bocas del Toro Archipelago
fundamentals of international home schemes through independent market requirements, such as more all over the last two years, it’s that this
• $5,000 reimbursement on a whole villa purchase or $2,000 reimbursement
sales. With this in mind, OPP presents third parties and legal support. One attractive payment plans, SIPPable due diligence material is a minimum
on a fractional villa purchase within 60 days of visiting*
a guide to the initial steps a developer developer, for example, incentivises products and other similar methods,” requirement when deciding whom to
M
must consider to build and manage an buyers by off ering a 10% discount if says Antoine Pellet, Investment Director sell for. ARKE
eff ective distribution network to sell they pay the full amount upfront into at Moroccan developer Property Logic. Off ering full and shared ownership
Interested brokers should contact
out their developments. escrow. product, Panamanian developer
TING
Philippe Robin at +44 (0)20 8439 9578 or
home
Exit strategy is also important, Building trust Emerald Monkey has standard
Philippe@emelr.com
Know your buyer whether it’s developer buy-back, Integral to all of the above is contracts drafted to be compliant
First of all, developers must consider support for re-sales or a percentage confi dence and trust. Buyers and with the recently published European
Bring 10 clients on a Fly and Buy Adventure and receive a 2% commission bonus on the buyer market for their product share of the project sale for shared agents are now far more concerned Timeshare Directive – designed in
any purchases made during the trip.
to accommodate needs, aspirations ownership. Despite the downturn, about a developer’s track record on anticipation of new consumer
*All receipts must be submitted for full credit. The Fly & Buy program is subject to restrictions, availability and changes in itinerary. Fees may apply for cancellations made without notice.
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