Day: June 3, 2019

Technology has disrupted lives in so many ways, impacting industries at an accelerating speed and pushing companies to rethink every aspect of their businesses.

The key goals of the industry transformation map for many industries is to automate processes in order to scale the business. For the real estate industry, it is to fully digitalise property transactions. We take a look at how technology has changed the way real estate business is done.

For the buyers

The internet has made things a lot more transparent and information more easily accessible. Consumers can easily search for the latest transaction prices, read up on the potential development of a particular estate, or calculate the expected rental yield of a development through a search engine.

As an investor, one can subscribe to notifications on the latest trend affecting the property market and receive updates through a preferred messaging platform, like electronic mail or messages.

For those who are looking to venture overseas for a holiday home or tap on an opportunity that opened up, it has become easier to obtain information. People can buy into overseas properties in the comfort of their homes after doing their research online instead of making a trip to survey the market. Information such as the country’s regulations on foreign investment to applicable taxes and financing requirements, will come in handy before one makes the move.

For the sellers

With a digital device on hand, it has become so simple to do-it-yourself. One can simply take photos of his/ her home and list them on property portals and get the property exposed to thousands of eyeballs. However, please note that you will need to be certified by the Council for Estate Agencies to broker a real estate deal in Singapore.

Home staging before putting a property on the market is now also possible through augmented reality. Home staging is an important aspect of selling your property, as it enables the potential buyer to imagine living his or her desired life. Instead of  the traditional way of staging a home with props before putting it on the market, it is now possible for sellers to let buyers visualise how an empty room will look like fully furnished with Curate, a mobile app by Sotheby’s International Realty. In essence, Curate allows potential buyers to have a preview of how their ideal home can look like, thereby curating the entire homebuying and selling experience.

For the companies

Real estate companies have also found new ways to connect with the consumers in a highly personalised manner, through social channels that have learnt buyer’s behaviours, reaching out to them based on their preferences. On a more advanced level, PropTech is the latest buzz word in the industry. PropTech startups offer tools for every stage of the consumer journey, from listing to selling and offering projection based on proprietary algorithm driven by big data. It is to be lauded that the industry has transformed to provide transparent information in a fast and efficient manner, benefiting various stakeholders, including the end consumers.

As the real estate industry continues to streamline the transaction process between buyers, sellers and agents, it will be worthwhile to note that the real estate business will still require a human touch to it. Ultimately, relationship-building is at the core of the real estate business. Only through knowing our customers and their needs, will we be able to provide high value and impeccable services to clients

Source: List Sotheby’s International Singapore

Next Read: To learn more about what makes a perfect summer luxury home. Read What To Look For In The Perfect Summer Luxury Home In The Philippines.

List Sotheby’s International Realty is known for its strong global presence, and our key strength lies in the combination of established expertise in domestic real estate with a global network around the world. As a comprehensive real estate company, we have built up a one-stop service framework across the entire group, catering to all of our clients’ needs including luxury residential brokerage. Making the most of our extensive knowledge of the domestic and overseas markets, and with specialised information from all over the world shared with each office, List Sotheby’s International Realty is changing the traditional concept of real estate transactions.

One of the key reasons for the brand’s success internationally is the fact that it has deep and strong roots in two well-established brands in Asia and the United States of America – List Group from Japan and Sotheby’s International Realty, respectively. The List Group was founded in 1991 by its Chief Executive Officer and owner, Mr Hisashi Kitami. It was first established in Yokohama, Japan, as a residential real estate brokerage but has since expanded to a major global company with more than 500 employees today. Besides being a major player in the international realty industry, the List Group’s core businesses include the development, construction and management of properties in Japan, as well as asset and investment management.

The global expansion of List Sotheby’s International Realty is also the result of the strong ties the company has with Sotheby’s International Realty, an internationally recognised brand that was founded in 1976 as the real estate arm of the prestigious Sotheby’s Auction House to provide independent brokerages with a powerful marketing and referral programme for luxury listing. The Sotheby’s International Realty network currently includes more than 22,000 affiliated independent sales associates located in approximately 960 offices across 70 countries and territories worldwide.

To date, List Sotheby’s International Realty has 10 offices in Japan’s major cities such as Tokyo and Yokohama, two offices in Hawaii and one office in the Philippines (2016), Singapore (2017) and in Hong Kong (2017). Three more offices are expected to be opened in Southeast Asia, namely, Thailand and Indonesia by the end of 2018 and Vietnam in 2019. List Sotheby’s International Realty, Singapore, is the Southeast Asia headquarters.

Mr Leong Boon Hoe, Chief Operating Officer, List Sotheby’s International Realty, Singapore, said: “With our strong international presence, List Sotheby’s International Realty offers our clients probably the largest distribution network that will maximise the exposure of their properties for sale or lease. Not only does it mean that buyers get a wider selection of exclusive homes, sellers also get more exposure and reach out to more prospective buyers internationally and locally, with the highest level of service they have come to expect from our real estate professionals,” added Mr Leong.

On the expansion of List Group in Southeast Asia, Mr Yasushi Yamada, Chief Operating Officer of List Holdings Singapore Pte. Ltd. and Head of Asia Region, List Sotheby’s International Realty, said: “The real estate market in Southeast Asia is very active and has immense growth potential. List Sotheby’s International Realty is riding the wave in the region and has gained a good standing in its relatively short time since the various offices have been set up. We hope to create more platforms and opportunities for the regional offices to collaborate together and reap greater synergies.”

Source: List Sotheby’s International Singapore

Next Read: To learn more about what makes a perfect summer luxury home. Read What To Look For In The Perfect Summer Luxury Home In The Philippines.

The doors to the Thai office of List Sotheby’s International Realty (List SIR) opened on 25 September to great fanfare.

In the early afternoon, a media conference was held, where Mr Hisashi Kitami, Founder, CEO & President of List SIR, shared his vision for the company as a group as well as for each of the offices. Indeed, the List Group has certainly come a long way since Mr Kitami founded the company in 1991 and also started List Sotheby’s International Realty in 2010.

With the Thailand office now officially opened, there are sixteen List SIR offices in total – 10 offices in Japan, two in Hawaii, and one each in the Philippines, Singapore, Hong Kong and Thailand. The company’s expansion will continue to progress, and there are already plans to open up offices in Indonesia and Vietnam in 2019.

Ms Shanya Sae-Tia, Chief Operating Officer of List SIR, Thailand, is a veteran in Thai property with over two decades of experience. Speaking at the media conference, she said that her main mission now would be to promote the List Sotheby’s International Realty brand among luxury customers and to support the company’s growth in the ASEAN market. She added that the Thailand office’s core businesses are:

1. Real estate brokerage in Thailand
2. International real estate brokerage, and
3. Sales consultant and project management for developers.

Besides Mr Kitami, Ms Sae-Tia and Mr Yasushi Yamada, Chief Operating Officer of List Holdings Singapore and Head of Asia Region, List Group, there was another special guest present at the media conference. The media were introduced to Mr Quang Do, who sits on List SIR Thailand’s Board of Directors. Mr Quang Do’s company, Weng Group, entered into the joint venture with List Holdings Singapore because he sees the potential in the List SIR brand and also the trust that consumers already have for the Sotheby’s brand with its 200-year heritage. Mr Quang Do felt that the global recognition of the Sotheby’s brand also means that it already has a strong base of luxury clientele which will help the Thai office to promote the best property brands in Thailand to them.

After the media conference, a celebratory party was held in the evening at the luxurious Gaysorn Tower, where the List SIR Thai office is also located. More than 100 guests turned up to witness the official launch. The evening started with a traditional Thai puppet show before senior management, including Mr Kitami and Mr Quang Do, took to the stage to address the guests and launch the brand.

Established in 2018 with a registered capital of 108 million baht, the List SIR Thai office has targeted a revenue of 18 million baht for the year 2019. Of that, 50 percent of revenue is expected to come from brokerage services, both local and international, while the other 50 percent will likely come from project management. The company also projects that revenue in the third year of operations will hit 180 million baht.

During its first year, the company is predicting that 70 per cent of its customers will be domestic clients, with the remaining 30 per cent being foreigners from Europe, Hong Kong and Singapore.

Currently, the Thai office has already secured an inventory of around 200 million baht, and intends to grow that inventory to 570 million baht before reaching 6 billion baht in the third year.

Source: List Sotheby’s International Singapore

Next Read: To learn more about what makes a perfect summer luxury home. Read What To Look For In The Perfect Summer Luxury Home In The Philippines.