The second-hand property broker Art of Living Property is committed to growth, expecting to surpass 5,000 units in property sales management by the end of 2020. Adapting to competition and the impacts of COVID-19, the company is expanding its services to professionally manage new housing and condominium projects (Project Sale). Recently, it has secured management for 4 projects valued at 3 billion baht, with a goal to add one more project in the Kaset area by the end of this year, developing a mixed-use project worth 3-4 billion baht. The company emphasizes technology, bringing in IT professionals to utilize Big Data and AI to enhance accuracy for small and new developers, aiming for successful sales rather than just managing issues post-sale.

Mr. Sarangsi Nantapisan, CEO of Art of Living Property Co., Ltd., who has extensive experience in the second-hand real estate market, revealed that the company was established in 2014 and has been operating continuously for over 7 years. Last year, it managed approximately 4,000 second-hand units with a total sales value of about 12 billion baht. By the end of 2020, it anticipates an increase to around 5,000 units valued at approximately 15 billion baht. The sales model consists of 70% from clients selling and 30% from rentals, but there is a growing trend of property owners looking to sell, driven by concerns over land and building tax enforcement and the current COVID-19 situation. On average, the company serves about 500 units per month. "Before starting this company, I had experience in sales at several large companies, including in finance for personal loans and working at a major real estate market consulting firm in Singapore, before pivoting to establish a brokerage business. In the first 3-4 years, we opened opportunities for fresh graduates and those looking for jobs interested in increasing their income to join us. In 2019, we adjusted our marketing strategy to accept part-time agents as a second option for those interested in selling properties, sharing profits with the company. We have a team with experience and expertise in real estate sales to support them, as the second-hand housing market has easy entry and exit for players, and the laws regarding second-hand brokerage are still not well established,"

Mr. Sarangsi stated.

The changing second-hand housing market, coupled with the severe competition and the impact of the COVID-19 pandemic, has significantly affected the business. Plans to expand into international markets have been halted, and the company's growth strategy has led to the expansion of new business lines, including managing residential projects, both housing estates and new condominiums (Project Sale). Currently, it manages 4 projects in collaboration with Data Tech Academy, providing real estate services from start to finish.

Managing new projects differs from selling second-hand homes, as project management requires a focus on research and feasibility studies. Particularly, technology support, such as Big Data, is crucial for accurate analysis of target customer groups for the projects the company manages, helping to reduce marketing costs, management expenses, and project closure time. This technology can be utilized from the initial concept development phase, identifying buyer groups. The company collaborates with Data Tech Academy, which specializes in data management system development, a key advantage in the brokerage business, as the depth of data is an effective sales tool. "Our advantage is our flexibility and agility, allowing us to penetrate the market for medium and small project management clients with limited budgets, which larger brands typically do not target due to budget and scale constraints,"

Mr. Sarangsi emphasized.

He reiterated the collaboration with Data Tech Academy to strengthen the organization’s data-driven approach, enhancing service levels for both property developers and retail clients through advanced data analytics and mining technologies, including AI support for customer service. This data-driven approach will be applied from the beginning of the real estate process, helping developers define and understand target groups in greater detail and comprehend buyer behavior effectively. This includes facilitating buyers with AI-driven chatbots for quick responses and potentially creating modern lifestyle solutions to enhance customer experience.

"This data-driven push represents a new dimension in the real estate industry, breaking away from traditional surveys and research by using data as a driving force for better decision-making and adaptability to various situations, allowing sellers to adjust their sales strategies appropriately and quickly, especially in a rapidly changing competitive environment," Mr. Sarangsi stated. The goal for 2021 is to manage an additional 10 projects, focusing on expanding into new housing estates and new condominiums, with 4 projects valued at approximately 3 billion baht already underway since early 2020, including:
- Project 1: Sun to Moon Residence, located behind Big C in Ayutthaya, covering 11 rai, comprising 8-story condominiums across 7 buildings with a total of 553 units, valued at 1.4 billion baht.
- Project 2: Grow Rattatibate, adjacent to the MRT Sai Ma station, a 34-story condominium project on over 3 rai with 364 units, still having units available for sale, valued at over 1.4 billion baht.

Additionally, the company is managing small projects for operators, such as a small twin house project on Ramkhamhaeng 118 with about 30 units and a condominium project with remaining units near BTS Punnawithi, also around 30 units. These projects have limited marketing budgets, necessitating the use of technology for efficient management.

The final project awaiting contract signing is a new large-scale project where the company will provide full-service management, utilizing technology for feasibility studies, marketing, and sales planning, located in the Kaset-Nawamin area, valued at over 4 billion baht, with development expected to start by the end of 2021.

For next year, the company aims to manage an additional 10 projects, focusing on areas outside the city. "Most of the projects we manage are not new; they have previously used other agencies but faced various issues in sales, marketing, and service, leading project owners to switch to us. There is still room in this market, but we need to identify the right market that competitors cannot penetrate,"

Mr. Sarangsi concluded. Regarding the business plan for the second-hand housing and condominium market, the CEO emphasized that the company will continue to prioritize this area despite high competition, ready to expand by recruiting more team members and increasing inventory in the portfolio to provide more options for both buyers and sellers, as well as creating more income opportunities for the team.