Testomony from our real estate client

Below is a testimony from our German Client during their investigation to choose between our company or other local brokers. For more information on our asset management and property services please visit our website: Iran Property or contact us: info @ irxp . com

 

In the discussion for the right consultant support in Tehran:

 

In my evaluation I see advantages on the side of CB Richard Ellis.

Please consider that corporate real estate activities in Iran happen in a complex and emerging market. International brokers do not have an in-country capability.

CB Richard Ellis is working together with Source8, who is a leading Emerging Market consultancy.

 

The particular areas of risk in Tehran are the opaque market with no well defined standards, unclear property law and legislation and the security risk.

During my visit I learned that the Iranian Real Estate Market is fundamentally a landlord led market with very little visibility, high security issues, small number of quality options and high demand. The market is driven by high rents and landlord agent fees with no one acting for the tenants' interests.

To counter this and protect our interests, a tenant representative service is necessary that ensures the identification of all options, both on and off the market, from landlords, developers and agents that meet our specific needs and then negotiate the best commercial terms possible with regard to rental fee, service charges, lease obligations, etc.

 

But I think there are two stages of work. The first one is the occupancy analysis, which should give us the basis for the most suitable decision. In this stage the consultant is cooperating with us only, but of course he need also to analyse the real estate market in Tehran. For this consultant we are looking at the moment.

In the second stage the consultant need to contact landlords, developers and agents in order to realize the necessary real estate activities.

Due to compliance issues I prefer the cooperation with an international broker who is experienced in emerging markets and is acting according to an international quality certified process.

 

CB Richard Ellis is very experienced in both kind of works and therefore they offering a 50% discount on the first work, when they get the chance to get also the job for the second stage. For me it should be no problem, rather than an advantage, to ask CB Richard Ellis for the first work and when we satisfied with the result, we have all the freedom to choose them again or to look for an alternative.