Local Experts Share Two Key Strategies for Sustainable Real Estate Market Development

• 10 June 2021
• Local News
• 2004 Views

Real estate experts have suggested that for long-term and sustainable development of the real estate market, all related firms should not only focus on improving the quality of their own sales agents but also consider educating their customers.

Chairman of the Board of Directors of CVEA and CEO of Realtor 168 Co., Ltd Lim Socheat the main issue in the Cambodian market now is the poor-quality sale agents.

“Investors are afraid of sales agents. They feel that we are ripping them off, rather than helping them making profits or creating opportunity for them,” said Mr Socheat.

“Most agents here, they just want to sell. When investors ask about opportunities, potential, legal perspectives, and financial issues, among other; most of the time, they can’t answer. This is the issue that all firms should solve to improve the standard of our market,” he added.

CVEA President Chrek Soknim said that the CVEA is actively educating more agents to boost the market potential even more.

However, in addition to educating agents, he added educating customers or educating the market as a whole is even more important.

“After our agents are well-educated, they will not be just only sale agents, but they will be consultants who are able to provide investment advice to clients. They will help open the perspective of customers to see more opportunities in a different dimension,” said Mr Soknum.

“When the customers are highly educated and understand the trends well, we, as the agents, are also easy to sell. Investment activity will be more dynamic, and the transaction will be improved both quantity and quality. When we provide benefits to investors, they will, in return, give it to us back. Thus, the market will be more sustainable,” he added.

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