For global competition, Phl property experts need to step up

CEBU, Philippines - Although the economic integration next year is expected to benefit the property sector, there are some areas that must improve to meet the global standards, an industry player said.

When Southeast Asian nations formally open for integrated economic activities, many investors from other countries will come to the Philippines to buy and sell real estate properties, said Anthony Leuterio, the president of Leuterio Realty & Brokerage.

In the same way, he added, Filipinos will also have the freedom and more accessible avenue to buy properties outside the country.

He said that to improve the industry, property firms must employ professional agents and teach them how to be smart in their profession; great value must also be placed on personality development of the people running the sector.

“One problem is lack of professional agents,” Leuterio, also the founder of property rental website Rent.ph, told The FREEMAN. “After selling, most of the agents don’t follow up with their clients.”

This is when the problem in property management comes in. The president noted that maintaining the properties sold to clients must be given attention.     

“You have so much properties, hundreds of condos and subdivisions in the Philippines,” he said. “But after selling, what do you do? Don’t just sell!”

The ASEAN integration may have a negative effect on the companies who have not positioned themselves well in terms of competitiveness, he said, emphasizing that “This integration is about competing in the playing field.”

While other Asian nations have already applied high level of professionalism, he is confident though that the Philippines is already on the right track because of some factors.

One of the reasons he cited, is the quality of products it offers and the great location base of the properties.

Another is the inclination of most Filipinos to online platform and social media which, Leuterio said, has become a great tool to promote the country and its real estate industry: “Filipinos are very good in social media, we’re in fact number one in being tech-savvy.”

The limitation in promotion was a big problem before in the industry, but the presence of the internet has since then allowed the country to be known to others.

Leuterio said, “Online promotion for our country is very important because if they love and like our country, they will buy properties. Real estate is the after effect of everything.”

He further stressed that it’s probably hard to promote the country if not the advantage of the availability of the digital platform.

How real estate companies and brokerage firms sell properties and apply marketing strategies also is very crucial, he added.

“The products are there but how do you offer these to the buyers,” Leuterio asked. “Having the right strategy is a matter of getting a lot of ideas and examples and applying those.”  — (FREEMAN)