Hey everyone, on Thursday, January 17, 2018, I was thankful to get the opportunity and present to approximately 30 real estate brokers from the Muntinlupa Chapter of the Philippine Association of Real Estate Boards 1st Annual General Assembly Meeting. During that meeting I was asked to discuss 5 Philippine Real Estate Trends in 2018 and How to Leverage Them. Below is each slide that I presented and the narrative behind it.
By observing and understanding different economic forces and industry trends, you can better prepare your real estate business for success.
Here we go!
Thank you Maita for a great introduction and to everyone for a warm welcome. Looks like an exciting crowd that’s ready to jump in.
As a quick agenda, today we’re gonna talk about 5 Key Trends that are occurring in our local and global economy and then I’ll share with you 5 Key Ways to Leverage them so that you can have an amazing 2018.
As Maita mentioned, Prosperna, is the ONLY community and onlines sales productivity platform who’s goal is to help real estate professionals in the Philippines reach their full potential. Not only do we make great online and mobile software to help you increase sales, we study the Philippine Real Estate Industry everyday so that we can help educate real estate professionals like you become trusted advisors by knowing what’s going on. Feel free to book a FREE DEMO here.
First, the average foreign exchange rate through November 2017 was PhP 51.04. This higher than average rate compared to 2016 will continue to encourage USD earners to invest more in the Philippines.
Second, tourist arrivals growth increased in 2017 year-over-year by a whopping 11.5%. This should tell you that foreign prospects are more open to visiting the Philippines and whom could potentially be converted to qualified prospects.
President Duterte’s BUILD, BUILD, BUILD Program, involving $160 billion to $180 billion in infrastructure spending will continue until 2022 which will boost economic growth by improving access to markets and business opportunities across the country.
The Philippine Government’s support of building infrastructure will encourage developers to build and in turn will make real estate investments and purchase more attractive to consumers.
Growth in the BPO industry continues to show significant improvements with an average annual expansion rate between 6 – 20%. Figures have shown that the BPO industry started from $1.3 Billion in 2004, and export revenues have increased to over $27 Billion in 2016, and will continue to go up to $55 Billion by 2020.
Guess what demographic works most at BPO’s?
The Millenials, are a new found growing socioeconomic-class in the Philippines with spending power and without an existing real estate trusted advisor relationship.
The Philippines’ burgeoning gaming industry may surpass Singapore’s $5.6-billion gaming market by 2018 on the back of a larger local mass market and the likely spillover of foreign high-rollers, foreign bank Credit Suisse said.
The Philippine population of 97 million was almost three times that of Singapore, Malaysia and Macau combined.
These trends included the expansion of mixed-use developments outside Metro Manila as these are expected to offer a better value proposition than the standalone developments; as well as the development of meetings, incentives, conventions and exhibitions (MICE) and leisure facilities.
Guess who works there in the Gaming Industry?
Yup, the Millenials!
The Millenials, will continue to be a great opportunity for real estate agents.
Number 1, considering the growth of both the supply and demand side of the Philippine Real Estate Industry, I would double down and increase your outbound marketing efforts. As they say, “you gotta strike while the iron is hot”!
Number 2, sales is a numbers game and in order to close more deals every week and month, you need to increase the volume of prospecting, presenting and qualifying conversations you have with prospects. The only way to do more is to work smarter and NOT harder so start using technology to automate your prospecting tasks like sending out mass emails and SMS text blasting.
Number 3, the best way to sell is by educating your prospects until you become their trusted advisor or their “go to person” when it comes to real estate purchases in the Philippines.
Number 4, it still amazes me on how many real estate agents there are in the Philippines that don’t have their own web presence. Studies show that at least 73% of all real estate transactions begin with prospect searching on Google so you should create your web presence with at least a single website landing page so that people can find you. If not, you’re missing out on a HUGE opportunity.
Number 5, if it was me, I would implement both a web presence and an “on the ground” approach by partnering with real estate agents who live in other countries where other Filipinos live and start sharing leads.
So, that’s all I had planned to present in terms of trends and how to leverage them.
Did y’all have any other questions or would y’all like to see a demo of our online app?
Sounds good, here’s a link to the demo.
In addition, if you’d like to give the Prosperna app a try, you can book a FREE DEMO here.
Thanks again for everyone sharing their time, attention and passion. #Prosperna!
Tech Guy & Real Estate Investor super passionate about helping real estate agents, brokers and developers grow their business to reach new levels of success.