Property agent Capital One Real Estate Co has expanded to second-hand homes, joining American property franchise Keller Williams to tap the 100-billion-baht market with a goal to share at least 5 billion baht.
Vit Kultanavipas, chief executive of Capital One, said the second-hand home market is on the rise as unit prices can be 50% lower than new units.
Last November, the company signed a 20-year franchise agreement with Keller Williams, the largest real estate franchise in the US, and set up KW Thailand Co to operate the second-hand home business through a franchising system.
“Keller Williams has innovations to facilitate real estate agents and a profit-sharing system to generate passive income for agents,” he said.
The company is in control of 150 units of townhouses and duplex houses worth 300-500 billion baht near Suvarnabhumi airport.
KW Thailand expects to have five market centres by the end of the year with 2 branches in Bangkok, 1 in Pattaya, 1 in Phuket and 1 in Chiang Mai.
The largest real estate agency in the United States Keller Williams has a total sales force of more than 180,000 people worldwide with yearly sales figures of 9 trillion baht, based on Keller Williams Realty Inc.’s experience with network development in the United States and using technology as the key to sales, Keller Williams has become the market leader.