February 9, 2016
FIABCI-Bulgaria Celebrates Professional Brokerage Day
On October 30th 2015 the Real Estate Agencies in Bulgaria celebrated for the second time the Professional Brokerage Day. Over 230 professionals and international official guests gathered in Sofia Hotel Balkan / A Luxury Collection Hotel. The event was held with support of FIABCI, CEREAN, CEPI-CEI and NAR.
Special institutional support was presented by FIABCI World Council of Brokers by its President – Farook Mahmood and FIABCI-Bulgaria by its President and FIABCI Board Member – AssenMakedonov.
Official greetings were presented by the Minister of Economy BozidarLukarski, Chairman of the Bulgarian Chamber of CommerceTsvetanSimeonov, the President of the FIABCI World Council of Brokers submitted by Antonia Wirth, Past FIABCI Board Member, the University of Economics – Varna and the University of National and World Economy – Sofia.
The event was held with the financial support of First Investment Bank, OLX and United Bulgarian Bank.
The motto of the event was “INSPIRE TO HIGHER.” The event was organized by the National Real Estate Association in Bulgaria, a FIABCI Principal Memberand moderated by Irena Perfanova, President of NREA and FIABCI Board Member
International guest speakers who participated in the program included:
- FRED MADJAR – USA, American Association of Realtors / NAR
- HENDRIK NELDE – Belgium, President of FIABCI-Belgium
- ALEXANDER ROMANENKO – Russia, World President of FIABCI / 2011-2012 /, President of the Russian Guild of Realtors / 2006-2008 /, President of CEREAN / 2000-2002,2004-2005 /
- MANUEL RIZZO – LUXEMBOURG, Secretary of the Professional Association of Real Estate Luxembourg / 2010-2014 /, an expert in the sale and management of investment projects and property specialist professional insurance
- DAN NEGULESKU – Romania, member of the global board of NAR, President CEREAN / 2009-2011 /
- NIKOS MANOMENIDIS – GREECE, member of the global board of NAR, President of CEREAN
- KIRKOR AJDERHANYAN – FRANCE, FIABCI World President-Elect / 2016-2017 /
- SLAVISA PESIC – SERBIA, REAL ESTATE CLUSTER
During the event, a round tabletook place which included the international guest speakers who discussed the benefits of the exclusive rights in real estate transactions. Guests shared their experiences in different countries and share examples which showed that over 60% of executed contracts between the client and agent in Europe are exclusive, and in the countries with stricter professional regulation – more than 80% are exclusive. In the sector of the luxury property, an exclusive listing is almost an unwritten rule.
For agents, exclusives provide greater responsibility and offer an incentive for the public to work directly with the agent. The marketing strategy of the exclusive agent, his professional market knowledge, communication skills and experience are key to the successful implementation of the deal. The EXCLUSIVE AGENTis focused on marketing the property in the best way possible. The commitment is to ensure that marketing efforts reach the maximum number of customers including the clients of other agents who represent a large market share.
Often the seller pays the commission fee. The representative of the seller is able to split the commission with the agent who represents thebuyer. In this case,a commission from the buyer will not be collected. Agents exchange information on exclusive offers, which work in a specialized software, for example theMultipleListing Service(MLS), in which agents have the right to present bids only if they have signed contracts with its clients, check the pre-ownership documents of the property, visited personally the property, assessed and confirmed its condition and technical characteristics.
The International guests stressed the importance of signing contracts with customers and the assignment of the relationship between client and agent/broker. Trust is an important element in the development of these relations.
The high rate of success in real estate, for clients and customers who have signed an exclusive contract with an agent, define these relationships as one of the most successful formulas for sale through the use of a professional service.
During the round table, also discussed was the importance and possibilities of professional liability insurance and insurance for rentas it applied in Luxembourg. Insurance agreements are a measure of the reduction of the risk of bad debts. The procedure is associated with the legislation in force in the country and the statutory required minimum amount of deposit in Luxembourg is three months.
It was unanimously agreed by the international guests that it is not possible to build a successful business without professional rules and a unified code of ethics which determine both the relationship between client and broker and those between professionals in the market. In Luxembourg, a new code of ethics was created three years ago by the national real estate association. Luxembourg’s national association brings together about 180 real estate agencies, representing about 20-25% of the market agencies, but concentrating over 85% of market share due to increased consumer confidence in their services. Belgium also has a similarexperiencehowever Belgium has a much larger percentage of agencies assembled together in one national organization with many regional structures. Customers identify professional service with common rules between agencies. On the basis of professional rules are the MLS systems. So professionals, not customers control the market.
The President of NREA – Irena Perfanova, a member of FIABCI International Board, provided an overview for the participants in the event, journalists and guests with the concept of DESIGNATION, the combination of letters through which professionals identify their professional qualifications and experience. Only a few capitals placed after the name of the agent provide information on his/her qualifications. She stressed that in Bulgaria there are a large number of professionals who receive their designations and professional titles. She mentioned that it would be great for media to help with the promotion and importance of the concept of designation among consumers. NREA will provide specialized training with international and local lecturers. The organization has received international funding which will help to make these trainings a reality.
The professional holiday continued with interesting and useful seminars from Bulgarian and international speakers. Was placed a ceremony of diplomas of recent graduates in UNWE – Master of Economics and Real Estate Business, including experts from the profession with many years of professional experience:
- Zlatan Enchev – Sofia Estates
- Irena Perfanova – Estate Tribune
- Angel Djambov – Estate Tribune
- RadoslavKoev – Yavlena
- Evgeni Vassilev – Arco Real Estate
- HristoGeorgiev – Arco Real Estate
- Magdalena Chaneva – ERA Real Estate
- Antoinette Spark – Velis Consult
- Antoinette Lukarova – Pixie
- DilyanaCholakova – D & H Consult
Emotional turmoil was caused by therhythm sessionby Martin Ivanov, bringing together participants in the celebration in a common team and synchronous expression. The session lifted the mood in the room. NLP specialist Angel Lazarov explained the link between positive emotions and where they happened, offering a request for participation in an upcoming seminar with him in the coming months.
John Mayfieldfrom NAR presented the new technologies in the real estate business and gave practical advice on the latest methods to promote real estate in various social networks.
One of the most successful owners of real estate in Russia,Alexander Romanenkoand Past FIABCI World President explainedhis secret of successful international professional experience and a public career. Headdedan antidote with a smile about the relationship between business and love, as well as its visual similarity with JFK.
Hendrik Nelde– President FIABCI Belgiumentered fully into his role as coach and inspirer and concluded the professional program organized under the motto INSPIRE TO HIGHER.
The celebration ended a fabulous event organized by NREA – a FIABCI Principal member. The OLX night party at the Piano BarMagnets, with a positive mood and the creation of many new friendships. The international guests did not fail to engage and demonstrate their international experience in party performances.
The event was unforgettable and provided a very emotional experience for the participants, loaded with new energy and belief that together we can achieve a lot, and be INSPIRED TO HIGHER.
LINK TO THE EVENT: click here
LINK TO PHOTOS: click here
LINK TO NATIONAL REAL ESTATE ASSOCIATION/NREA
WHICH ORGANIZED THE EVENT AS A FIABCI PRINCIPAL MEMBER: click here