ERA Highlights the Need for Real Estate Agents to Adapt to New Economic and Technological Changes

            Over the past 30 years, the real estate brokerage business has continuously evolved. Currently, the economic situation, technology, and the lifestyles of new-generation customers have significantly impacted the industry.

            Mr. Woradaet Siwatechanon, CEO of ERA Franchise Thailand, stated that during a special meeting held at the ERA Asia Pacific Business Conference 2018, four key components were identified that will transform business operations in this era:

Technological Changes The advent of AI will serve to provide information to interested parties, and soon there may be the use of electric vehicles (EVs) to take clients to view properties, or even the use of electronic currencies for real estate transactions in the future.

Government Factors The regulations from the Professional Qualification Institute (TPQI) have established various requirements and organized examinations to assess the capabilities of real estate agents at multiple levels. Additionally, the Real Estate Brokerage Act (which may be introduced soon) and the Anti-Money Laundering Office (AMLO) have additional requirements regarding the Anti-Money Laundering Act, which operators must be aware of and cooperate with in reporting. The upcoming Real Estate Brokerage Act will regulate the sales business, requiring those in this field to adapt further.

Changing Economic and Social Conditions For organizations to succeed, executives must continuously develop themselves and their teams, as well as seize various business opportunities, such as the announcement of special economic zones currently and potential future expansions, along with the ongoing development of service models to keep pace with modern times.

Business Competition The real estate brokerage business will be one of the top choices for those interested in generating income, and it can be said that this is the "golden age of the business." A significant driving force in this is the various professional associations related to the real estate business, especially the Real Estate Brokerage Association and the Sales and Marketing Association, among others.

For ERA Franchise Thailand, a business strategy has been set with the goal of expanding franchises and joint ventures to cover all regions and provinces by 2020, aligning with the policy of "1 Village 1 Agent" to meet housing and investment needs across Thailand. Currently, there are 30 branches open, and ERA is collaborating as a sales representative for new projects with major real estate developers in the country, while also preparing to increase its rental business, which currently accounts for about 6%.

ERA has prepared by enhancing the franchise model to allow individuals to access training at all levels and has adapted the training format to an Online/On-Demand system for easier access.