Factors to Consider in a Property Team

People who are in the real estate industry for so long a time must have been aware of the

necessity of transacting business with a number of real property firms, so they can ensure, to

some extent, to gain good returns. For those who are new to the business, below are the basic

factors to look for in a real property business team.

1. FIELD OF SPECIALIZATION. Look for a property team that has a long line of specializations in

real estate, including residential development, land development and sales, property auctions,

rural land sales and property administrations. There are teams, however, that limit their

operations to only a few specialized fields, e.g. property development. In a case like this, the

common arrangement is, after the development phase, another team will come in to deal with

the property sales phase.

2. PROPERTY MANAGEMENT EXPERIENCE. At least five years of experience is sufficient for a

property team to get established in the real estate industry. In particular, see if the team has

undertaken major activities, such as subdivision re-building, staff recruitment, personnel

training, and system upgrading and development. Check also if they have accomplished

significant numbers of residential properties development and management.

3. STAFF COMPETENCE. One of the strong indicators of an established team engaged in

property for sale pertains to the competence of their personnel. Once the team is recognized

by their peers as leaders in the industry, they must have outstanding achievements. As a

newcomer, look at the capacity of the team in dealing with complex issues in property

transactions.

4. RESIDENTIAL TRANSACTIONS. In the last five years, track if the team has done property

transactions that made them a leader in residential land and housing units. Based on a simple

equation, understand that maintaining a professional working relationships with clients can

likely result to various real estate achievements; hence, to verify the records, it is imperative to

correlate the working ethics of the team with the extent of their property transactions.

5. COMMERCIAL TRANSACTIONS. Choose a team that has an incomparable management

portfolio in commercial transactions. If they have a high level of competence in strata matters--

both in residential property developments and commercial buildings--the better. More

importantly, the property team must have major plans and realistic projections in real estate.

6. THE SALES GROUP. Invariably, an award-winning and extremely competent sales team is

supposed to have a combination of at least two licensed property auctioneers and at least ten

sales experts. All of them must have a very wide experience in the different fields of property

sales, such as urban as well as rural residential, commercial and subdivision. Of course, if there

is one legal luminary in the group who specializes in the law on property and sales, the better.