‘Hamptons has emerged stronger from a difficult real estate market’
With the recent negative reports surrounding the real estate market, Hamptons International is creating a buzz and solidifying its hold on the market. Hamptons International has emerged from a difficult real estate market stronger than ever and look forward to the good times ahead.
In an interview, Daniel Sellu, head of agency at Hamptons International, said Hamptons International has succeeded in a difficult market where others have failed.
What has attributed to Hamptons International’s successes even in this difficult market?
The Hamptons teams have offered our clients a consistent high quality service over the years. We do not over commit to our landlords, which is a common mistake here in Oman. Oman is a small market and reputation goes a long way. We have built a trusted reputation and are very well known for getting the job done.
There has been much press regarding falling rents in Muscat, how have you managed to combat this with your landlords?
It is of course clear that rents have fallen in Muscat, in some cases rather dramatically, as a landlord it is therefore important to price your property accordingly in line with the market. We are experiencing a tenants’ market, and the tenants have the ability to shop around to obtain the best deal. Although prices have fallen, there is still a good demand for quality properties in the right sectors. We keep in regular contact with our landlords to make sure they have up to date market information and ensure that our properties are priced correctly. It is important that any property on the market gets as much exposure as possible to the right people. One of our strengths is our ability to match the demand and supply, connecting those tenants seeking properties with the right property. In some instances we have structured rents in creative ways to help both the landlord and the tenant rather than simply reducing rents.
There are many real estate companies in the market, what makes Hamptons International different from the others?
Our sales and leasing teams are highly trained and have a heavy focus on customer service. We first understand our customers’ requirements before matching them with the right property. In certain sectors, there are thousands of vacant properties in the market, and our staff know the markets very well. We are able to make sure that we present a customer the most suitable property that matches their budget and wish list of requirements. The traditional methods of placing a board or advertisement and waiting for tenants to call is not always enough in these difficult times. Our staff is very pro-active in going out there and finding suitable tenants for a property that we are leasing through our extensive network of corporate relationships.
What benefits do you offer tenants that are seeking property to rent?
Tenants have the ability to go out there and seek properties themselves but our customers find that they can save time by coming straight to the professionals and can save money by letting us find the best deal for them. They also find that they are protected by the robust contracts that we put in place between our landlords and tenants, which offer clarity for both parties. It is extremely important to note that, at Hamptons International Oman, we do not charge the tenant any commission or viewing fees: Our fees are exclusively taken from the landlord for residential leasing. This transparency is a clear benefit to both the tenants and landlords and encourages both parties to enter into a contractual relationship early. We are also a recognised brand and carry a wide variety of stock for our tenants to select from. Our leasing staff is trained to ask potential tenants questions to get to know their requirements before recommending the best property for them.
There has also been increasing press coverage on low occupancies for many buildings and complexes in Muscat, with some struggling to reach even 40 per cent occupancy. What advice would you offer to landlords who are experiencing the same thing?
Occupancy is the key in current environment, it is essential to use creative and proactive marketing techniques to promote your property to the market. We have been in business in Oman long enough to have created a solid database of tenants in every sector. We communicate regularly with our clients sharing the latest properties and offers that we have available. It is not enough to advertise, sit back and wait for tenants to turn up, you need to go out there and find them, and this is where our success lies. Most of our properties operate at over 80 per cent occupancy, which is a testament to our highly trained and pro active leasing teams, the great systems that we have in place, and also our ability to promote our properties in innovative ways. We have a dedicated residential as well as a commercial leasing team, each with vast experience in their field.
In Oman, Hamptons International commenced operations in early 2000. Today, Hamptons International offers a wide range of services: From sales and leasing to property management, from valuation to development consultancy.