We have met with Matthew Navarro to give us insight about what it means to manage a team of specialists. He tells us what makes a good and rewarding real estate managerial role.
Question: What is the most important factor in your managing role ?
The team is the most important factor in my daily working life. It’s such a satisfaction to see specialists succeed and progress. The most intimate part of our relationship is the closing of a deal. Specialists call to let me know when clients are highly interested in a property and would like to make an offer, it is then up to me to take over and speak to the owner and clients. There’s a lot of excitement. Both in terms of the client-owner direction, but also in the specialist-manager direction. Working closely with them has allowed us to form a bond. What’s exciting about the closing part, is that we make both ends see eye-to-eye despite the financial or technical difficulties.
The training stages are also a great way to form this solid relationship we have. Konrad (Branch co-owner) and myself have trained people coming from different sectors, such as hospitality and services. Some of these people have become our best performing specialists. So we truly welcome anyone from any working industry to make a leap and try out real estate as a career choice; we’ll certainly deliver the required training and assistance. In my own experience, I’ve got Konrad and Steve to thank. Mainly for believing in me, at an early stage of my career and at such an young age. I’ve been given the space to grow as sales manager and up to now, thanks to hard work and dedication, these decisions have proved to be fruitful.
Question: What are the prevailing tendencies you observe in the market?
Nowadays, many owners are not negotiable. They tend to give us a price and make that price final. This can be slightly problematic as buyers will always want to brush-off a portion of the price, even if the price tag is fair according to the property and the area. When it comes to clients, everyone has an ideal property in mind, but when we start-off with property searches one quickly becomes more realistic in terms of prices and property features. Finding compromise is deeply rooted in the real estate business, as positive elements outshine negative elements according to people’s tastes and needs.
First time buyers will predominantly search for apartments and penthouses. This section of society will have a budget ranging between 150,000 euros to 200,000 euros, with the majority of searches falling within central-north malta.
Buying on-plan properties is also quite widespread, as young couples can save some money in the meantime for furniture and other personal touches. There is the idea of "picking and choosing” attached to it, invoking a sense of liberty and purchase-power within a competitive market. There’s a great deal of importance given to the open plan living/dining area, as weak as a desire for outside space and/or terraces. I know this well since I am a first time buyer myself, and i wanted to have ample living and entertaining space.
Question: Do you fell you have any input into the market yourself?
Absolutely. Working closely with developers and putting in some suggestions has sometimes proved favorable to the consumer. We sometimes even get involved in the planning stages and contribute hugely to the property plans and design. It makes sense, as we then can propose properties to potential buyers with the confidence. We’re selling different types of properties daily and therefore have attained the knowledge of the current requests and clients needs. It is then only natural that we also delve in the planning process to reflect those tendencies in future properties.
Agreement between the Property Owner and Quicklets.com.mt
As a result of this agreement the Landlord (property owner) is giving Quicklets permission to list their property/properties on the database of Quicklets and market it on the website www.quicklets.com.mt and any other medium of advertisement possibly resulting in the rental of these properties.
All information, photos and assets, moveable or immovable will be at Quicklets' discretion to advertise as Quicklets deems necessary to result to the lease/rent of a property. By clicking accept at the bottom of the page the landlord is agreeing and committing themselves to pay Quicklets commission upon the lease/rent of the property/properties added to Quicklets here after.
The commission is set at 50% of one full month’s rent + 18% VAT for long lets and 10% of total amount + 18% VAT for short lets and commercial lets. This is to be paid upon the signing of the contract between the tenant and the landlord if the property is rented/leased by Quicklets. Once the contract it signed the commission is not refundable.
Once the potential client is introduced to the Landlord for the first time the Landlord is bound by this legally binding agreement to complete and sign the contract between the tenant and themselves through Quicklets and pay the commission due in full.
Terms and Conditions:
1. By accepting this agreement the Landlord here by confirms all clauses and terms and conditions for each and every property listed with Quicklets here after.
2. Quicklets offer a free valuation and inventory checklist of the property.
3. This agreement is valid for properties listed by Quicklets and properties uploaded by the owner directly to the site.
4. When an offer is made on a property, Quicklets will collect a minimum of one month's rent deposit. This deposit will be handed over to the owner and in the case of a cancellation, the Landlord must pay Quicklets 15% + 18%VAT of this deposit.
5. The Landlord states that all information exchanged during the procedure of the listing and filling in this contract is in utmost good faith.
6. The Landlord is responsible for all bills, utility and others, prior to date of renting/leasing contract between the Landlord and Quicklets client.
7. The Landlord will always give the tenant 48hr notice before entering a property prior to its rental/lease by Quicklets.
8. If the Landlord gives Quicklets keys to view a property they will only be used in the event of a possible lease/rent by Quicklets.
9. If the listed properties change ownership the Landlord must inform us and a new contract has to be drafted. If we are not notified and bring a client to view a property which then results into a rent/lease the Landlord has to pay the commission.
10. Quicklets is not responsible for any missing items or damage to a property at any time.
11. The Landlord agrees that should a property be purchased by the client introduced by Quicklets, a 5% commission + 18% VAT has to be paid by the Landlord to Quicklets. If a property has a garage and is not rented or leased, the value of the garage will be deducted from the total selling price. If it is included in the rent/lease, commission must be paid on the garage at a rate of 5% +18% VAT.
12. Commisions are only payable to Quicklets if the property is rented out through Quicklets. In no other circumstances are you as an owner liable to pay for Quicklets listing services.