What does it mean to be in the business of property? What does your type of work involve?

The meaning business of property is quite vast. You have the developer who buys property and develops to build and sell. You also have the speculator who buys property to resell without constructing it. You have the investor who sells after obtaining capital appreciation from the property. You also have the home owner who sells to buy another home.
The Estate Agents are the ones who put the deal together providing the abovementioned developers, speculators, investors and home owners’, services conducive to the transfer, purchase, letting or management of property.

Sara Grech who is a well known and established Estate Agent works in through the following activities:

Precision Marketing – Professional Staff
Staff development, with an on going in-house training program compiling presentations and written exams which even though in the industry is not a requirement, we ensure that everyone understands and is well learned in the field of expertise, committing to a professional and proactive manner.

Our Network – Our Branches
We have the largest, most comprehensive list of properties available on the market.  All types of properties registered, suitable for all segments of the market, whilst also constantly looking out for new opportunities.  This information is available throughout our extensive branch network of offices, which offer an excellent service.  We have a state of the art IT network and infrastructure. Other agents even though carrying the same brand name do not share information. Sara Grech however uses the power of information instantly across the branches to ensure that the customer is serviced well through correct information as we speak.

The property details:
This is crucial.  Upon registering a property each owner receives a letter indicating the details they have communicated with the consultant on site, ensuring that the details communicated correctly.  The property will now been tagged with a reference number, which helps the owner communicate with any branch of their choice.  We encourage the use of floor plans which is increasingly requested by potential purchasers.  We instantly circulate the information to our current list of prospective purchasers seeking similar properties, as well as immediately through in house web staff developers load the property description and photographs on the corporate website.

Photographs:
We use photos in all our marketing material, for advertisements, website, our window displays, of which our branches are located in prominent locations, ensuring high levels of passing trade.

Stickers:
You are most probably aware of our “for Sale and to Let” stickers placed on properties registered with us.  These stickers may only be placed on properties that are not lived in.  They are a very effective way of generating high quality enquiries as well as complimenting the marketing effort we make to attract potential customers who are specifically looking in the area, hence leading to a successful sale or rental.

Our Website:
Our website attracts many potential customers, giving owners and landlords the widest possible access to potential buyers around the world, 24 hours a day. Easy to use and highly informative the website offers a wide range of useful information and helpful services to the local and overseas customer.

Open Houses with Sara Grech:
Sara Grech is the pioneer for the Open HOUSE scheme in Malta.  Upon returning from the United States Ms Grech entered the Property Market and launched the First open Day on a large block of apartments in Ta’ Xbiex.  The 48 apartments were sold within two weeks.  Open days allow potential customers to view the properties at their own leisure. Today this type of marketing has become very popular.

Advertising:
We advertise in various publications, both locally and overseas.  We have long established relationships which can help to ensure prominent positions of our adverts.

Exhibitions:
We attend various exhibitions annually to ensure coverage of all our registered properties in Malta. More than 100,000 high net worth potential overseas customers attend the exhibitions where we exhibit Malta as a prime destination. This also gives us the opportunity of advertising in the Daily Telegraph, radio advertising and direct mail to previous visitors. The exhibitors themselves have a website dedicated to the shows we attend, hence giving Malta’s Sara Grech customers’ extensive coverage to millions of potential visitors. This year Sara Grech will be attending exhibitions in Ireland, London, and Northern Uk, as well as in the Scandinavian countries.

a) Is there truth in what people say that the business man in property is inflating prices? (Architects say that this is what people tell them)

I cannot say that it is not true, as this depends who is actually saying this. I can only assure that you anyone involved with the Company Sara Grech will not give you false pretences on the value of your property as we cannot possibly promised something we cannot deliver. Our company works hard to ensure that your property does not stay on the market for a long time, and if so will simply need to be reduced. We have a team of administrative staff working all day updating property by getting in touch with owners whose properties have been on the market longer than 3 months. If so then they are either visiting on site again to be explained the situation and the price revised. Normally architects call upon our well established consultants to discuss values as we can give them a wide range of property values in a street with given dates on completion attached to selling price.

b) Why do architects look at estate agents in a negative way? What advise would you give to those who want to buy property? What should they look for?

To be honest with you I had no idea that architects look at us in a negative way, as I haven’t heard this in quite a long time. As previously stated, architects who are in contact with Sara Grech work well together with the customer in mind and that is to ensure that the customer is aware of expenses and knows the market values of today.

If there are customers out there who are contemplating to buy, the advice I would give them is to buy now and get onto the property ladder. Property is the key to building true wealth. Take the example buying and renting. A good tenant can create wealth for you by paying for the loan, insurance, taxes and so on. So let’s say you have just bought an apartment for Lm 75,000 and placed a Lm7, 500 deposit. If it grows at 5 percent per year (Lm 3,500 first year, of which historically the rates have always been much higher) you're making more than 50 percent on your money that you actually invested – you can't get that kind of power behind mutual funds.

Real estate investing allows you several ways to make and/or save money that other investment tools will never allow or have the ability to provide. No one can predict short-term price increases -- but that's why the savvy property buyer doesn't look to just appreciation to make money. Here's how you can build wealth through buying:
1. Positive cash flow. This is simply what it sounds like -- the rent covers the loans, expenses and once all that's paid, you have money left over at the end of each month
2. Equity growth via amortization. Loan reduces, your equity grows (and so does your net worth). This is one of the most powerful means of wealth growth -- using OPM (other people's money) to build your net worth
3. Capital improvement. This is the most popular that most people think about when investing in property. Purchase a property for Lm 50,000, put in another Lm 15,000, and pronto, that property is now worth Lm 85,000 or more (Lm 20,000 or more than the initial investment)
4. Asset value growth. As your property increases in value, so does your wealth. This is the old fashioned principle of buy and wait. Buy at today's prices and with time, your asset will grow in value because of local appreciation.