In a meeting on Saturday, March 10, 2018 in Seminyak, representatives and owners of Bali's leading real estate agencies came together under the Gapura Bali umbrella to discuss ways of working together to discuss best practices, common goals, transparency and setting higher standards in the real estate industry.

The Gapura Bali platform aims to provide quality content around the property space and in so doing it is able to build trust amongst real estate professionals and those who want to invest in the island.
 
AREBI have a similar agenda.
 
In line with recent government initiatives, every Real Estate agency in Bali was given notice they needed to have at least two qualified and certified agents otherwise they would not be allowed to continue doing business. AREBI have been active in pushing real estate agencies to comply with the government approved LSP BPI certification for Indonesian property brokers. For many this has been long overdue.
 
"Bali's been like the wild west for so many years now," said Terje Nilsen, from Harcourts Seven Stones. "People used to literally wake up one morning, often on a beach somewhere, and decide to become a real estate agent to make a few easy dollars. There was no understanding of doing business, property laws and regulations. But now, every real estate agency must have at least two LSP BPI qualified brokers. It's better for everyone and better for business."
 
Market confidence is important in any industry, but in a place where language and cultural differences can and do play important roles, this is even more relevant in the world of property in Bali. This is where Gapura Bali has had such a positive impact over a relatively short period of time.
 
For the first time agencies are seeing more opportunities in collaborating and setting standards rather than ruthlessly competing by using smoke and mirror tactics. "This old-school approach is always at the expense of the customer," said Dominique Gallmann from Exotiq Property Seminyak. "When buyers are seen as dollar signs and not people, real relationships never happen and it undermines trust."
 
Neil Power from Xclusive Property agrees. He's seeing the practical sides of collaboration. "There's no doubt this will boost market confidence and hopefully attract more investors," he said.

Benefits of collaboration, best practices and AREBI:

For the Community
• Solves real estate problems
• Provides better customer services
• Eliminates unnecessary expenses
• Obtains legal certainty, as well as offering objective information

For Developers/Owners
• Reduces the company's fixed costs
• Develops a marketing network
• Improves the efficiency and productivity of investment programmes
• Offers opportunities to be be more specialized

For the Government
• Helps with employment opportunities
• Helps grow skills and education as part of human resource development towards being more professional
• Helps provide certainty around state revenues through taxation mechanisms
• Helps with the issuance of aspects around brokerages themselves

For AREBI Members
• Acquires recognition, respect and protection
• Develops performance standards and service rewards
• Protects from actions that violate ethical norms
• Develops research and development of institutions
• Helps with information exchange
• Develops networks
• Develops professionals through education
• Develops new insights and international cooperation

If you're a real estate agent in Bali who would like to be involved in our next forum or if you'd like more details on how you can advertise with us, let Gapura Bali know here.

Are you interested in the Bali property market and would like to be contacted by an agent? Get in touch with Gapura Bali today.

This article was first published on Gapura Bali

Similar articles on Gapura Bali:

The business of commercial property in Bali

US investors discover business potential in Indonesia

Chinese investors interested in planting capital in Bali