Esprit evolves to meet market expectations

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The market has matured tremendously over the last 20 years, and consumer’s needs have risen with it

Parallel to these changes, better developments are being created. The developers and estate agencies are constantly improving their products and services to meet the client’s higher expectations.

Esprit Estate Agent's managing director Aldrin Tan Tong Heng and Business Development Director Carolyn Lin receiving the "Exceptional" Award for Best Practices on behalf of their agency at the StarProperty Real Estate Awards 2019. AZHAR MAHFOF/The Star

Esprit Estate Agent's managing director Aldrin Tan Tong Heng and Business Development Director Carolyn Lin receiving the "Exceptional" Award for Best Practices on behalf of their agency from Star Media Group CEO Andreas Vogiatzakis at the 2019 StarProperty Real Estate Awards. AZHAR MAHFOF/The Star

Esprit Estate Agent Sdn Bhd managing director Aldrin Tan Tong Heng confidently stated that every single crisis and disruption has made the company more resilient and adaptive towards the market changes. “The key is to be constantly making ourselves relevant in the real estate industry and increasing our value chain of services to our clients and business associates,” said Tan.

Reflecting on the past, Tan said Esprit started as a developer’s project marketing agency back in the year 2000. Over the years, the market disruptions had propelled Esprit to be more wholesome in providing services. Today, the company has diversified into the secondary market and consultancy segments.

From there, Esprit’s number of agents has grown rapidly, and numerous consultancy jobs had been secured on a retainer basis from their clients, leading to multiple profit centres within the organisation.

“The industry has changed tremendously from a wide spectrum of how real estates are being developed according to the needs of consumers down to the way real estate agencies and developers are delivering their services in the market,” Tan explained.

He said Esprit strives to stay afresh by keeping up with the latest market-trending vehicles which are considered “hot wheels” in the industry. The organisation increases exposure via social media, mainstream media and also through the participation in awards to gain recognition and tonetwork with new opportunities within the real estate industry.

“With this, we are able to leverage on our branding and also to obtain continuous trust and confidence with our clients and associates,” he said.

With the advancement of technologies, artificial intelligence and data analytics, it is a natural progression on how applications are giving consumers an alternative platform in the real estate market.

According to Tan, the foundation of Esprit is built on three tried and true elements that are successful at bringing people together. Transparency is essential to build trust within each and every individual, thus, enabling effective teamwork.

Esprit Estate Agent managing director Aldrin Tan (standing, second from left) posing for a photo with his team at the 2019 StarProperty Real Estate Awards. AZHAR MAHFOF/The Star

Esprit Estate Agent managing director Aldrin Tan (standing, second from left) posing for a photo with his team at the 2019 StarProperty Real Estate Awards. AZHAR MAHFOF/The Star

Teamwork, on the other hand, provides vision for those who are collaborating in a group, allowing them to work together to achieve their goals and dreams interdependently. Tan believed in growing people as it empowers them to establish a stable career path.

“While we have yet to see a paradigm shift in consumers replacing agents with apps, the recent appearance of rental apps in the market has created competition among agents,” he explained, adding that it is good for the industry as healthy competition results in agents competencies, which results in the survival of the fittest. Tan believed that the improvisation of technology and the presence of apps in the real estate industry would provide a better scope of coverage for both sellers and consumers.

Speaking of the younger and older generations, Tan stated that there is a balance of pros and cons between them. “I would like to perceive the younger agents as having more pros than cons, as they give me the impression that they are more vibrant, energetic, and desirous,” he said.

Tan continued that their enthusiastic conviction will be conducive for success if trained and coached appropriately. “The current market trend also summons the younger generation as the new blood draws new ideas and new perspectives in the real estate industry. The people are more receptive towards new changes and new notion in terms of sourcing for their properties and investments,” he said.


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