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Whitemark Blog

This blog is about the real estate market of Southeast Asia, about good and bad developers, about partnerships and competitions, about mistakes and victories, about our team and the clients we work for.

«Why broker if I can go to a developer and buy property directly from him?» you might ask.

Why broker if I can go to a developer and buy property directly from him?" you might ask. I get this question over and over again. The longer I work with luxury real estate, the more I understand who qualifies as our client and who doesn't.


I am not here to convince you that every client needs a real estate broker. Everyone can actually address a developer directly to purchase a unit. However, it only works when the client knows exactly what he wants and where to find it. You have browsed webpages of endless developments, looked through countless presentations, and called up hundreds of phones from Batdongsan, narrowed down your choice, been to some showings, compared options, made up your mind, and finally bought the lot. Well done!


● Or is it? Are you really sure you have researched every single offering and haven't missed out on just the perfect fit for you? Mind you that in luxury and premium real estate the sweetest pieces usually are not open to the public - they tend to be sold through brokers.

● Or are you sure that you actually considered all high-end projects and none has slipped your attention? After all, best lots (let alone best lots for best prices) are sold long before official sales launches and online listings.


To wrap it up, our client is a person who likes being treated well and with due respect. They cherish their time and hate to waste it on piles of brochures and websites, they do not fancy calling up developers to try to haggle suitable showing times and match it with their schedule.


Our client has more to do than sit and scrutinize real estate contracts trying to find a catch. He's got a team of lawyers that make sure his assets are safe and protected. He does not watch "Top-10 investments" videos on Youtube - he entrusts his financials to professional advisors. He has a personal assistant for scheduling his meetings and dealing with mundane questions. The house is kept by specifically allocated personnel, and kids are looked after by highly paid educators. Should we say he does not drive himself? Well, obviously, he preferred the comfortable backseat. When he needs to buy a place for living, he calls Whitemark.


What I do clearly understand is the mindset of successful individuals. Valuing their time means letting others do service for you.

These people are the clients of ours - the clients of Whitemark.

October was hot! We made 171,000,000,000 VND in sales.


Very often I hear other market players postulate that real estate deals are long-haul and laborious due to the rapport they need to establish with potential buyers. It was the case 20 years ago or so. The world has changed since then though, and it keeps picking up the pace. Today, clients require the shortest route to a quality product. The real estate market is no exception.


In October, we closed two major deals: one was a Penthouse in Sunshine Horizon for 37,000,000,000 VND, the other was a Pool villa in The River project for 45,000,000,000 VND. Both clients contacted Whitemark earlier the very same month. Those were transparency, professional acumen, and a modern approach to making business that appealed to them. By the time they decided to entrust us with their purchases our relationships were still in early stages, you might say, we’d only known each other for a couple of weeks. Yet here you have it, our message to all dinosaurs inhabiting a cozy elite real estate market of Ho Chi Minh City, “The Ice Age has knocked on your doors”.


In addition to the penthouse, we sold two beautiful apartments in the Sunshine Horizon project: one 3BR for 10,000,000,000 VND and one 2BR for 6,000,000,000 VND.


In October, we launched the sales of the Masteri Centre Point residential complex, and we already managed to sell 4 units for a total of 18,765,000,000 VND. 


And surely, The River project was the icing on the cake. Aside from the pool villa that costs 45,000,000,000 VND we found buyers for 5 amazing apartments for a lump sum of 55,000,000,000 VND. 

Are you a talented broker stuck in a dinosaur era agency? Beware the Ice Age that loomed upon them. It can bring you down if you do not get out before too late. You can try your fortune and send us your resume to hr@whitemark.io. If you are indeed as good as you think, we’ll help you find your place in the sun.

Cheers.

The first quarter is over


In May 2020, at the height of the pandemic COVID-19, I launched Whitemark, a tech-focused luxury real estate agency. Everyone twisted their fingers at the temples, they say all the company is now closing on the contrary, and you are launching a new one. I know for sure that playing against the market can be more difficult, but successful development gives exponential growth.


In these three months, we have faced many difficulties. Some of them have already been resolved, and we continue working on it. Now I understand Whitemark is not just a real estate agency. Whitemark is an IT company that operates in the real estate market. From the first day of work, we began transferring prospects to our sales department. Now we have four brokers who receive calls daily from new customers.


In the first three months of operation, we have already closed 15 deals with a total turnover of 54 billion VND.


In one of our top projects, The Opera Residence, we nailed a hefty 12 000 000 000 VND booking for a fabulous two-bedroom with dazzling views over the River.


In Sunshine Diamond River, we have three deposits for chic apartments with terraces. The first apartments cost 4,912,000,000 VND, the second  5,286,000,000 VND, and the third 5,230,000,000 VND.


We also sold one apartment with two bedrooms costing 6,100,000,000 VND in the Sunshine Horizon apartment complex.


In project Precia in District 2, we have three bookings. Two apartments with one bedroom cost 2,550,000,000 VND and 2,450,000,000 VND. And one apartment with two bedrooms costing 3,234,000,000 VND.


In the Vinhomes Grand Park project, we sold seven apartments with a total value of 13,800,000,000 VND.


Some of our competitors might feel uneasy. Not being used to an open approach in doing business, they just won’t understand why I reveal our results to the public. Well, let me tell you that a contemporary company should be transparent.


I can see plenty of stalemate rules in the Vietnamese real estate business models, and Whitemark is here to break them all. Within a couple of years, we will put down all the fat cats of this market.



First, we create a new lean company that will set a quick technological pace for Vietnam’s conservative real estate market.


Perhaps this post will be read by good Ho Chi Minh brokers. Those who want their lives to boil and those who love money. I am sure you have excellent work experience and desire to become the best. At the same time, you are forced to sit in boring unpromising offices without new deals, without money, and with an irrelevant base of «regular loyal customers.»


Welcome to Whitemark.

We'll make sure you have a steady stream of clients.



8 reasons why Vietnam is becoming a hot spot in the world market of real estate


I have been asked a lot why does Whitemark take root in Vietnam? Reasons are plentiful. In this post, I will touch on the economic side of the question and tell you why Vietnam is the best place to start a real estate business.


Just recently a communist country on almost complete lockdown, today it is in top 10 of the most attractive places to invest, according to US News & World Report.


1. Local economy shows the highest growth rate in the Asia-Pacific region. 

Over the last 3 years, Vietnam has overtaken China and moved into first place. In 2017-2019 Vietnam grew by 7% CAGR compared to 3% of China.


2. Foreigners are welcomed


Since 2015 new legislation has opened the local real estate market for foreigners. Any non-resident holding a valid visa, be it an expatriate or even a tourist, can buy a property with a 50-year lease scheme attached to it and the right to renew the lease at the term´s expiry.


3. Poised for price rises


Property prices are more than affordable in comparison with other hot spots like Bangkok or Singapore. Luxury property in the Ho Chi Minh City centre cost somewhere between 3’000 and 7’000 USD per square metre. An equivalent accommodation in Bangkok would cost 8’000 to 10’000 USD per sq.m., and 12’000 to 15’000 in Singapore.


4. High income from renting and leasing out


Rent-to-price ratio from leasing out luxury condos in elite HCMC neighbourhoods is in the ballpark of 6-8%, which is 1,5 to 2,5 higher than in Bangkok or Singapore.


5. Infrastructure development


Cities like Ho Chi Minh grow quickly and merge with nearby towns. Residential areas, schools and hospitals get modernised and upscaled. In 2021, HCMC will meet its first subway system aimed to link the city centre with eastern districts. 


6. New trade agreement


All-encompassing Trans-Pacific Partnership that came into force in 2019 is a comprehensive and progressive agreement affecting trade between Vietnam, Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Canada. It gives unprecedented protection to foreign investors venturing into the Vietnamese real estate market.


7. International education


Oftentimes when it comes to choosing a RE property, access to international schools and universities makes its way into REIC checklists. HCMC is one of only 20 cities in the world with more than 50 international schools.


8. Locations aplenty


Vietnam offers a wide choice of investing opportunities. It may be a modern condo in the centre of a busy megapolis or a luxurious seaside estate. Ho Chi Minh, Hanoi, Nha Trang and Da Nang are the four most popular investment destinations in Vietnam.


We sell the best high-end real estate properties in Ho Chi Minh. Yesterday, Whitemark received a proposal for selling SOLEIL residential complex located on the sea coast in Da Nang. Today, our team is already planning sales campaigns, and our brokers will start receiving calls from prospective clients very shortly. 


We still have some openings for a broker in our team. Feel free to contact us if you know how to sell premium and luxury real estate.




Experts of the real estate market


Almost every single day our brokers show the property at the sales galleries for our clients. Today, one part of our team works in the office on requests from new clients, another part is being trained on the Van Phuc City project at the sales gallery.


Van Phuc is a city within a city. A comprehensive autonomous ecosystem was developed and implemented in this project to let its residents have all the comfort they need: from wide parks, swimming pools, aquapark, trade and entertainment centers to kindergartens, an international school, and a world-class hospital.


No doubt many families will choose to purchase accommodation in Van Phuc City for their long and happy living. Probably, they will buy it with the help of our agency. Tomorrow, we start the Van Phuc City sales campaign, which is now completely ready to launch, and the team is fully prepared to help you with all requests. We are planning to take the leading position in the sales volumes of this project.


By the way, if you believe you are good at selling property and feel comfortable with the Ho Chi Minh real estate market, but still work for some dull real estate company with no incoming calls and requests from potential clients, feel free to text, email or call us. There are still a couple of sweet spots left in our nice and welcoming Central Park office for energetic and enthusiastic people like you.

Fasten your seat belts we’re about to take off


Welcome!


My name is Maksym Sakharov, and in this blog, I will tell you how I am developing the luxury real estate agency No.1 in the market. So without further ado, let’s get right to it.


In January 2020, I was approached by one of the Singapore real estate agency to consult them on digital marketing. After a fair bit of analysis, I realized that the real estate market in Singapore has remained rather conservative, despite seemingly total digitalization of the country. Marketing tools used by the local real estate businesses do not go much further than printed media, outdoor advertisements, giveaway flyers, and business cards. Having ignored all modern ways of marketing their products, real estate brokers seemed to be stuck in the 2000s, which, let’s be honest, is a lot like being stuck in the Ice Age. I ran some test Google queries and noticed a few real estate agencies and a couple of large aggregators are using Google Adwords and SEO tools. Apart from it, that was all. 


The next big revelation was the working conditions of the brokers. Aside from making sales, which by the way should be their only task, the brokers take up work related to the marketing department - they seek clients, draw presentations, and compile videos. Agencies merely provide them with some office space and company names on the business cards. On top of it, after all this colossal work done by the brokers, agencies cut 50 to 70% share of their commissions. 


Seeing these flaws were enough to ignite the idea of launching my own real estate company and shaking up the Southeast Asian real estate market. High expertise in digital marketing gives an undeniable advantage in this endeavor. To begin with, our professional marketing team will guarantee a constant stream of clients to our brokers, while the brokers will be able to focus on their main function - the sales. 


It is worth mentioning why I made the choice to locate Whitemark in Vietnam. It all boils down to the advertising prices, lack of competition in IT and digital marketing, the exponential growth of the economy, and what’s more important, the grandiose scale of construction with captivating architectural solutions in Vietnam.


No doubt, there is a lot of backbreaking work ahead. My team and I accept the challenge to build the No.1 Real Estate Agency in the market. 


We are all in.

Are you with us?