Thai Real Estate Association Launches Business Strategy Course to Overcome COVID-19 Crisis

Collaborating with 13 Regional Real Estate Associations

Launching Online Real Estate Market 'Real Estate Marketplace'

 

The Thai Real Estate Association (TREA) has partnered with 13 regional real estate associations to develop a course for real estate operators aimed at driving business through the COVID-19 crisis, offering both short-term and long-term courses. They also launched an online sales channel, 'Real Estate Marketplace', to provide nationwide buyers access to quality products from member networks across the country.

Mr. Pornarits Chuanchaisit, President of the Thai Real Estate Association, stated, "The global economy is facing a crisis due to the COVID-19 pandemic, severely impacting many businesses and millions of lives. This has led to widespread issues such as economic challenges, income problems, debts, and changing lifestyles. Predictions from various parties are predominantly negative. The real estate sector is also significantly affected, although not as severely as tourism, hotels, airlines, and certain export businesses. Recovery is expected to take a long time, requiring working capital, which often comes in the form of debt needed to revive businesses. The impact on rental properties, such as shopping malls and commercial spaces, has resulted in rental rate issues. Although some reductions have occurred, rates still appear high compared to customer numbers and income, necessitating time for recovery. For properties for sale, such as houses and condos, sales have drastically decreased, leading to a large inventory of unsold units. Additionally, financial institutions have tightened their lending criteria, significantly affecting cash flow in the business."

"Government assistance is crucial for sustaining businesses. At the same time, operators must adjust their direction and marketing strategies to align with current events. Amid this crisis, the association recognizes the multifaceted impacts and has adjusted its activities to disseminate knowledge and understanding to members by inviting experts from various fields to share experiences and exchange information for the benefit of real estate operators, consumers, and the general public," he added.

"We have also coordinated with 13 regional real estate associations, including 1) Nonthaburi Real Estate Association, 2) Samut Sakhon Real Estate Association, 3) Chonburi Real Estate Association, 4) Rayong Real Estate Trade Association, 5) Chachoengsao Real Estate Association, 6) Nakhon Ratchasima Real Estate Association, 7) Khon Kaen Real Estate Association, 8) Udon Thani Real Estate Association, 9) Chiang Mai Real Estate Association, 10) Phitsanulok Real Estate Association, 11) Songkhla Real Estate Association, 12) Phuket Real Estate Association, and 13) Southern Border Provinces Real Estate Association. Together, we have gathered opinions and presented various issues to the Prime Minister for consideration by the Cabinet to find solutions to the challenges affecting the real estate business. We have also organized activities to promote and assist members nationwide," Mr. Pornarits said.

 

Dr. Warapoj Kantapipat, Vice President of the Thai Real Estate Association, discussed the association's training courses, stating, "The COVID-19 pandemic has impacted the global economy and drastically changed consumer behavior regarding lifestyle, work, and investment. The new normal has forced real estate operators to urgently adjust their business plans to align with current conditions. Therefore, the Thai Real Estate Association has collaborated with 13 regional real estate associations to offer both short-term and long-term training courses, inviting qualified speakers with extensive experience in the real estate sector to share essential experiences and techniques for navigating this crisis successfully."

 

"The short-term course, titled 'Enhancing Real Estate Development... Adjusting Strategies to Combat the Crisis in 2021', will provide participants with direct knowledge from firsthand experiences and discussions with experts, led by Mr. Anant Asavapokin, advisor to the Thai Real Estate Association, and prominent real estate developers from leading brands such as Land and Houses, Ananda Development, Sansiri, Quality Development, Piamsuk, and Rungkit Real Estate. Participants will also visit 'The Forestias', Thailand's largest real estate project valued at over 100 billion baht by Magnolia Quality Development Corporation Limited (MQDC). The training will take place from October 29 to 31, 2020, at the Grand Center Point Terminal 21 Hotel and the Cage at W District Shopping Mall. The training topics will include an overview and direction of real estate post-COVID, design and pricing to meet precise demands, survival strategies for medium and small businesses, green community management for sustainable living, the importance of branding in real estate, and building organizational culture and customer care. This course will have limited registration for only 40 seats," he added.

 

Dr. Warapoj continued, "The long-term course, named 'TREA ACADEMY', will focus on comprehensive learning in real estate business operations to develop leaders in the industry. It will run from November 6, 2020, to February 6, 2021, at Gaysorn Village and the Grand Center Point Terminal 21 Hotel. Throughout these three months, participants will learn investment techniques and strategies in real estate, in-depth financial and tax planning, problem analysis and solutions, marketing, and branding. There will also be intensive workshops to guide businesses towards raising funds through REITs or the Stock Exchange of Thailand, along with site visits to 'The Forestias' and Ocean Marina Yacht Club, as well as opportunities to create an ecosystem with leading real estate entrepreneurs in Thailand. The course will accept 70 participants," he stated.

 

"Both courses are suitable for real estate business owners of all types looking to expand and develop new projects and generate profits from existing assets, as well as executives, entrepreneurs, and investors in real estate seeking leadership opportunities in the industry, including executives from private organizations, government, financial institutions, or investment consultants interested in real estate knowledge. Interested individuals can find more information at www.thairealestate.org and www.treaacademy.com."

Additionally, the Thai Real Estate Association and its network have launched an online channel called 'Real Estate Marketplace' to assist member real estate operators in promoting and increasing direct sales channels to target customers. This also provides consumers access to quality housing information of all types, locations, and prices across Bangkok, the surrounding areas, and all regions, saving both time and costs.

 

Mr. Adirek Saengsaikaew, Secretary-General of the Thai Real Estate Association, stated, "COVID-19 has led consumers to increasingly purchase various products through online channels, resulting in rapid growth in online sales and marketing. The association and its network recognize the opportunity to utilize various online media as a special service to benefit both member operators and consumers, thus creating the online sales channel 'Real Estate Marketplace'. In the first phase, the association will launch this channel on social media platforms, including Facebook, Line, Instagram, and Twitter, before expanding to websites and applications in subsequent phases."

"'Real Estate Marketplace' will not only serve as a special service to promote sales and marketing but also as a public relations medium for the association and a tool to attract new members to various regional associations. The products sold through this channel will exclusively be from association members and the 13 regional associations, focusing on residential properties for sale or rent, such as housing projects, condominiums, commercial buildings, community malls, factories, and hotels, which have obtained the necessary permits and approvals," he added.

 

Mr. Adirek concluded, "During this launch phase, the association expects over 300 member operators from across the country to participate, resulting in at least 1,000 real estate projects available for sale through 'Real Estate Marketplace'. What sets both the online and offline channels of the association apart from other e-marketplace websites is that all real estate listings are from association network members, ensuring they have been vetted for quality and standards. Documentation will be posted alongside product images to instill confidence in customers. Importantly, every product will come with special promotions, making it a unique deal that cannot be found elsewhere, even through members' own sales channels. The association hopes that 'Real Estate Marketplace' will become a comprehensive market for quality housing products at special prices nationwide, where buyers must check in before making a purchase decision, and attract real estate operators in every province who are not yet members of the association to join the Thai Real Estate Association family. Get ready for quality real estate products nationwide, along with special promotions and premium giveaways from leading sponsors, on the online channel 'Real Estate Marketplace', launching nationwide on 11/11/20!"