300 brokers to participate in first condo sales forum

CEBU, Philippines -   Over 300 real estate brokers have registered to participate in the upcoming forum that would teach real estate marketers the professional strategies on how to avoid a glut in the condominium market in Cebu in the next three years.

Real estate marketing consultant and educator Jun Garing announced the strong interest of real estate property sellers in Cebu to push for the fast take up of thousands of condominium units that are now being constructed in different areas in Metro Cebu.

“There is a need for the licensed brokers to learn from the pitfalls of condominium marketing, so that Cebu will be able to be saved from supply glut in the next three years, and inventories of condos will be sustained by strong interest especially from the foreign market,” said Garing in a press conference.

Garing, whose company is commissioned to market the Filinvest property at the South Road Properties (SRP), and who also owns a real estate training facility known as Salesman’s Centre said that there is no other time for Cebu to prepare for a professionalized condo marketing-- but now.

Garing, together with other real estate specialists and marketers in Cebu is organizing the first real estate sales forum, designed specifically for condominium selling.

At present, Garing noted that Cebu’s real estate selling culture still lacks uniqueness, and still has not reached a level of maturity. In fact, he said Cebu has to adopt different strategies in marketing condominium properties, such as introducing package-selling, condo-tel concept, and even fractional-ownership.

Also, he said there is a need for Cebu to grow in providing good property management services. Currently though, while there are a lot of projects being built, property management services here has not taken off yet.

 The boom of real estate in Cebu is here, he said this development should be complemented with the proper and right support services. Otherwise, glut in supply that will result to slide of property value in the next few years will be experienced.

Garing also invited the general public to consider the career in condominium selling, as this would be a good source of income even as an alternative livelihood.

 In the last three years, Cebu was able to sell over 3,000 condominium units. Developers reported that in Cebu, majority of their buyers are local investors, taking advantage of the significantly growing condo-rental demand here.

There are a total of 36 developers whose projects have been approved for condominium buildings. This is worth over 100 billion inventory.

Cebu, which is now one of the hottest destinations for condominium developers in the Philippines today, shall provide thousands of condominium units in the next couple of years, thus brokers should know the ethical and effective approaches in selling this kind of property, Garing said.

The event will be held at the Radisson Blu Hotel this coming June 24, 2011.— (FREEMAN)