CENTURY 21 coming to Slovakia – what does NARKS say?
As a part of expanding their activities in Europe, the largest global real estate network Century 21 Real Estate LLC decided to enter the Slovak market through the company CENTURY 21 Slovakia, which officially opened its office in Bratislava on 21st January 2010 and it became the exclusive user of the CENTURY 21 brand in Slovakia. Slovakia is the 23rd European country where “the first property brand which can be recalled by customers in countries such as the USA, Canada, France or China” (a fact shown in the Millward Brown survey from 2007) will do business.
CENTURY 21 was established in the USA in 1971 and within its 39 year of activity on world markets it has become an energetic, fast expanding and well-established international network. At present it includes nearly 9 000 franchising offices in 70 countries. Within CENTURY 21 over 165 thousand estate agents offer several million of properties worldwide daily.
Training system, help in relocation, career growth
“I am very glad to be able to welcome Slovakia in
our global network. I believe that CENTURY 21 Slovakia will grow soon and
prosper in this dynamic market,“ said Tom Kunz, president of Century 21 Real
Estate LLC – the majority owner of the licence for the largest residential
real estate network in the world and also of its subsidiary Realogy Corporation
which is the global provider of real estate and relocation services.
The main advantages of the CENTURY 21 ® system are a strong international brand, an elaborated marketing strategy, systematic education, a reference system and co-operation of brokers, the latest technologies, a worldwide network of offices and various benefits. The global network provides the licence users with a non-stop support and help which is represented by education programmes, marketing instruments and system procedures. CENTURY 21® Learning System – a system of training for estate agents and brokers was awarded the best in its category in 2006 by the American magazine Training.
VIP CENTURY 21 club (Club of Key Clients) offers all its members customized care and a care packet. The estate agents have the necessary knowledge and instruments to connect the buyers and sellers of exclusive property. The relocation system is helpful in moving for work, from the city to the country, to the nature or to a spa area, from a wealthier location to a cheaper one, and in relocation of company headquarters. The experience of the network increases the chance of a client to sell the property at a requested or at a just market price.
Price is not the most important factor for the buyer or seller. The speed of the process is often an aspect which is decisive for successful closing of a deal. CENTURY 21® offers estate agents the latest innovation technology. Thanks to them the speed of the sale is shorter and the quality of their presentation goes up. The Century21.com portal is visited by 2,5 million users a month.
A natural selection among real estate agencies will be inevitable
“We will move the property market to the next
level thanks to our experience, we will bring the golden standard and we will
become the leader in providing property services also in Slovakia,” the Slovak
agency CENTURY 21 Slovakia does not hide its immodest vision which plans to
open 10 franchising offices in Slovakia this year.
What will be the outcome, we don´t know right now. The reality can be a little different from the actual resolutions. At least four relevant questions come up in connection with this. We tried to find out the possible answer to them from the viewpoint of two parties which are potentially affected and could be seen as “competition” in the first moment.
Daniel Bilý, CEO CENTURY 21 Slovakia
Was the timing of coming of the largest global real estate network
CENTURY 21 to Slovakia in the post-culmination phase of the crisis
intentional?
Every world crisis brought a general economic downturn and it is not any different now. It was not our direct intention to enter the market in a crisis, however, it was during the previous crises when CENTURY 21 recorded the highest number of franchisees. The crisis is not an obstacle for a multinational real estate network to enter the market. On the contrary, a proof is the Czech Republic which became, in the time of crisis, the most successful European country within the CENTURY 21 system. Large world real estate agencies offer to the small ones a possibility to increase their expertise and professionalism which leads to being a step ahead of the competition in the given region. It is natural that companies need support and help which we are able to provide in the uncertain times. The support involves all areas of providing property services, from management, marketing, administration and systems to education.
In your opinion, is it possible to improve the quality and structure of the competition environment or is there an opportunity to increase quantity?
CENTURY 21 brings mainly quality real estate services which had missed in Slovakia until now. Our real estate agents will not be only middlemen in a deal but they will mainly provide services. Ultimately, this will contribute to a general improvement of providing the property services in Slovakia, I believe strongly.
Do you think that in spite of a large number of real estate offices there is still space for 50 more which CENTURY 21 plans to have here in the 5-year horizon?
The fact that Slovakia has many real estate agencies is a big plus for us as we offer a product for the existing real estate agencies in the first place. This means that the more there are of them, the wider selection we have. The chosen real estate agencies will get a big competition advantage against the others in the given region. A good, yet unknown real estate agency can become an agency with nearly 40 years of experience which we will provide overnight.
Do you think this will lead to an inevitable natural selection or the end of real estate agencies which do not work effectively?
This is a step which follows automatically. Our analyses show that the market was left by approx. 20 % of real estate agencies at the times of crisis. This is natural selection which has always worked in the world. I will join your words that entering of CENTURY 21 on the market will somehow help to decrease the number of non-effective and often speculative real estate agencies. So those who will decide fast in the globalization of the market are guaranteed not only a headstart but also a shift in the hierarchy of estate agencies in the region. It is important to add that each will remain independently owned and operated.
Martin Lazík, Secretary General of NARKS (National Association of Real Estate Agencies in Slovakia) “I strongly believe that the international network which has been building its name and image for several years will guard its quality and good image in Slovakia too. The practice will show how strict they will be in choosing real estate offices and the brand holders here. A growth in the number of offices is seen critically as the market is generally limited. I do not expect 50 new offices because I think that the network will also include companies which operated on the market before and now they will continue under the new brand. The real estate agencies have been fighting the crisis over a year and also their own effectiveness. If they did not or do not work effectively, the survival problem will occur depending on whether the new network will expand in Slovakia or not.”
Photo – HB REAVIS SLOVAKIA
1, 2, 3 – Aupark Tower in Petržalka in Bratislava, the new official
headquarters of CENTURY 21 Slovakia
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