Tapping the OFW millennial market
Tapping Filipino buyers working and living abroad has remained a trend in the real estate industry.
Roadshows showcasing the different projects of Philippine developers are conducted in the different states in the United States and countries in Europe. Sales agents of such developers would stay for months in these places for client follow-ups and continuous prospecting.
Sta. Lucia Land Inc. came in to the international marketing scene quite differently. Instead of roadshows, it opened international sales and marketing offices, enabling our “kababayans” based in those countries to be partners in promoting Sta. Lucia’s projects in the Philippines.
With Sta. Lucia Land’s partnership with the overseas Filipino workers (OFWs) in all its international offices, it was able to develop a closer relationship with its market. The property firm thus has a clearer grasp and understanding of the market’s enthusiasm in investing.
Sta. Lucia Land’s international offices also serve as an assurance for the OFWs that it is serious in helping them in determining the type of investment they should pursue. These offices also reassure them that all their concerns and queries about their investment would be acted upon immediately.
Tapping millennials
Now on its seventh year of having an international presence, Sta. Lucia Land is more perceptive of the OFW market and the emergence of the so-called OFW millennials.
The sales contribution of the OFW millennials was quite significant and this can be attributed to the OFW millennial sales partners that we also have accredited in our offices. These sales partners bring us closer to the OFW millennials market who want to achieve their ultimate dream of owning a home or investing for passive income.
These so-called OFW millennials are quite fickle-minded when it comes to investing simply because aside from their financial obligations to their families at home, they cannot easily let go of the “luho” they are now enjoying abroad.
The lifestyle of these OFW millennials are more carefree and adventurous, and for them, real estate investment is just another expense that they cannot enjoy just yet.
International sales partners
This is where the partnership with the international sales partners turn significant.
They bridge the developer and these OFW millennials and enlighten the latter to the early benefits of investing in real estate without totally sacrificing their current financial priorities. Knowing the priorities of the market, their spending habits and practices truly guide Sta. Lucia Land in formulating projects and terms for the constantly changing market.
Our sales partners spend a great amount of time with every client. It is important that the need of the client is established and from there, it is matched with the type of real estate product that would suit or is needed by the client.
A residential condominium or condotel investment will not be pushed to the client if the determined need is for a house and lot. Capacity of the client is also a major consideration.
We still don’t push our client to get a house and lot if his or her budget is just for a lot.
Educating our international sales partners and our OFW clients, especially the OFW millennials, has been a commitment and a tradition for Sta. Lucia Land Inc.
By offering diversified real estate projects in the market, we are able to deliver to our clients what they really need. And because of these, we build closer ties with our market who refers us to their peers and other relatives, who eventually become our international sales partners too.
In Sta. Lucia, our ultimate goal is for our client to finish paying for their investment.
And to realize this, construction updates and project photo developments are regularly sent to them. This is our way of making them appreciate the fruits of their labor.
Liezel Tuason-Magpoc is currently the chief executive officer and executive vice president of Sta. Lucia Ventures Inc., and is now in charge of all the local and international sales Sta. Lucia Land Inc.
