Real Estate Group Moves Into Thailand

THE PROFESSIONALS REAL ESTATE GROUP MOVES INTO THAILAND

- and links up with one of Thailand’s most respected and recognised real estate identities

In a breakthrough, multi-million dollar deal, the Professionals Real Estate Group has sold business systems and marketing rights for Thailand to one of Thailand’s most high-profile and respected real estate figures, Khun Apichart Archadej. The deal will see the Professionals move into the Thai real estate market on a very solid grounding - but that’s not all this deal means…

Khun Apichart - arguably the largest independent operator in Thai real estate – will become the head franchisee for the Professionals Asia Network in Thailand. The aim is to establish up to 20 offices in the first 12 months, with a projected
50 - 70 offices over the next five years.

As exciting as this move is for the Professionals, it is also much more than a simple business deal. The Professionals’ move into Thailand is unique because currently Thailand has hardly any industry standards in the area of real estate agency.

The Professionals aims to change all that by playing a major role in the accreditation of students undertaking real estate training programs at the ABAC University in Thailand. Under an exciting new trial, the Professionals will be part of the accreditation process for students. This will also extend to providing accreditation for existing and new real estate operators – the Professionals is working with the Thai Real Estate Association and Thai Valuers Institute on these accreditation programs.

In this sense, the Professionals – which doesn’t have its name for nothing – is anticipated to gradually change the face of real estate in Thailand forever. Which is also why the company is being very careful to ensure cultural sensitivity in the business move.

“The Professionals’ systems will be integrated and customised in Thailand to achieve a real estate system that is relevant to both the Thai culture and business practice,’’ said the Professionals Group Council chairman George Kennedy.

”It’s about implementing a system catering to their needs – but that also adopts our benchmarks and ideals for maximum professionalism and effectiveness, all encompassed within their cultural framework.’’

Mr Kennedy described head franchisee Khun Apichart as a “major player’’ in Thai real estate. An indication of Mr Apichart’s status lies in the fact that he was actually the one who introduced auctions to Thailand – a recent innovation for this country. Now Mr Apichart carries out auctions that can involve 50 to 100 properties. At a recent auction he sold close to 100 properties in a single afternoon! Mr Apichart has visited Australia and seen the Professionals’ South Australian operations first-hand.

“This is an exciting time for the company – this move into Thailand is much more than just a simple expansion. We will be bringing our professionalism and our industry standards into a place which has been lacking that in the past,’’ Mr Kennedy said. “The university accreditation system is a clear example of this – as well as being a positive step forward for Thailand’s future real estate agents. In essence, we’re introducing an industry standard – the industry wants structure and best business practise – and that’s an area we can more than help out in,” he said.

The Professionals is interested in long-term successful integration into the Thai market - and is therefore willing to be patient to give the Professionals Asia Network time to flourish. “Our focus is very much on developing and establishing a strong relationship for the long term, rather than seeking a high short-term return,’’ Mr Kennedy said.

The Professionals International Operations general manager Stephen O’Brien said the Thai deal had already attracted interest from other parts of the world, including the Middle East, India and the Pacific Rim. Mr O’Brien is representing the Professionals in Thailand to assist with the implementation process.

Mr O’Brien said Thailand had been targeted by the Professionals as a potential market because of its stable political and social climate, as well as the potential for improvement and growth in the Thai real estate industry. The deal brings to a climax significant research and investigation carried out by the Professionals to gauge suitable locations for expansion.

Background
The Professionals is already established in New Zealand, Australia, Papua New Guinea and Singapore. The company is one of New Zealand’s most successful and recognised real estate groups, with more than 400 offices across Australasia and an annual turnover in these countries of $7.3 billion. The Professionals Group Council is the controlling body of the Group.

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