MARKET Reapfield is a real estate services provider. Its target market includes property owners and developers in the commercial, residential, industrial, land, agricultural and retail sectors. The company assists buyers or interested parties including prospective tenants in the acquisition of these asset classes. Clients also include multinationals requiring or disposing of these asset classes. Reapfield handles mostly middle to high-end residential properties and caters to this market by offering its clients a higher level of service. It practices a more advisory role by assisting clients in achieving their goals and focuses on providing excellent client experiences. The company also looks at working for the long-term and relying on referral business. It educates its sales professionals to cater to specific markets by continuously training them on customer buying patterns and requirements. Reapfield’s annual turnover for the financial year of 2010 was RM2.7 billion, up from M2.16 billion in 2010. The company captured about 10% of all real estate transactions completed in Malaysia in 2010. In the next five to ten years, it aims to be the dominant player in the real estate services industry in Malaysia with at least 30% market share. The company believes in catering to the individual needs of its customers rather than traditional methods of pushing whatever product is available. To achieve this, its staff are always on the lookout for the perfect fit between property and its customers’ desires.
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SUPERBRANDS VOLUME VI
ACHIEVEMENTS
HISTORY
Reapfield was awarded the inaugural title of Real Estate Agent of the Year in 2010. This was awarded by the Malaysian Institute of Estate Agents (MIEA) in recognition for its leadership, service excellence, consistent sales performance and contribution to the real estate industry. At the end of 2009, Reapfield was awarded the SME Brand Excellence award. This was in recognition of Reapfield’s success in creating a strong and positive image through its branding initiatives, well-accepted products and services, and for its strong top-of-mind recall among consumers.
Reapfield was established in 1984 by Mr. David Ong and his wife, Serene, with only five people in the company. The office was located at SS2, Petaling Jaya. Over the years, they strived to develop the best sales force and built systems that would streamline the routine processes for property sales. They also endeavored to increase market awareness of the value of real estate agents so that their fees were a portion of the profits in a sale, and not an expense. Subsequently, the company needed to build its sales force to a critical size to gain market dominance. This was achieved by opening offices
in the Klang Valley. By the year 2000, there were four branches in the area. Today, there are 14 offices: 13 in Klang Valley and one in Penang. While the company struggled to recruit new staff in its early years, it had grown to a strength of 900 active real estate professionals by September 2011. The company also founded the Reapfield Academy, which focuses on strategies and training for middle management and sales professionals.
PRODUCT Reapfield Properties is the leading real estate agency in Malaysia, housing the best-trained agents around. Reapfield’s growth strategies are realised through carefully orchestrated, concerted and sustained efforts that involve every employee in the company. This has shaped Reapfield into a highly charged team where esprit de corps is a dynamic, everyday culture. Day-to-day competitiveness takes a backseat to getting its clients the results they expect. Reapfield’s conviction that a satisfied customer is the best form of advertising is reflected in the quality, speed and precision of its operations. Daily checks and balances keep the Reapfield team focused on giving the customer the best. Together with a vital hands-on management style that is 100% in synthesis with front line challenges, Reapfield has earned a glowing reputation in the industry.
RECENT DEVELOPMENTS In 2010, the group underwent comprehensive changes by transforming the brand from one with a cottage industry perception into one with a prominent corporate image. The group standardised the look and unified the image of its offices. It has since developed from a company that is perceived to be just one of strong growth but to one that is also admired for its strong values. Reapfield now focuses on developing leaders within its businesses to empower sales professionals who are under its care. Besides its 13 offices in the Klang Valley and
one in Penang, Reapfield has established a New Properties Division which will provide marketing services and consultation to developers.
PROMOTION Reapfield promotes itself in a variety of ways. The company contributes towards the real estate industry by educating the public on how to get the most out of a real estate sale. It achieves this by providing opinions on real estate transactions in mainstream newspapers and property related magazines. Reapfield is regularly represented on various radio business networks as well as round table discussions hosted by The Edge and the MIEA. Reapfield has also been consistently been invited to be guest speakers at the real estate industry’s annual conferences sharing experiences on the challenges of the real estate agency business. Reapfield also holds its own real estate business conference once every two years. For promotions, teams and sales professionals conduct road shows in Klang Valley and Penang whenever any projects arise. Reapfield’s staff promote the properties of its clients’ through various media. The business relies
heavily on referral business. Its staff members focus on specific areas and specialise in niche markets. Clients’ products are also promoted by informing interested target groups through phone, direct mail and exposing the properties in various real estate property web portals, newspapers, and organising or participating in property and investment exhibitions. A large portion of Reapfield’s business is derived from referrals from past clients. In 2010, Reapfield assisted more than 10,000 customers with their real estate needs. The brand’s slogan is: Built on Excellence.
BRAND VALUES Reapfield’s brand value is to honour God by developing and equipping its people in order to provide the highest standard of real estate services. The brand is committed to excellence with its motto ‘Being good gets in the way of being the best’. It also aims for integrity, professionalism, commitment and innovativeness. The name Reapfield means ‘Reaping’ from the ‘field’ of opportunities.
www.reapfield.com THINGS YOU DIDN’T KNOW ABOUT REAPFIELD • Reapfield conducts regular small laboratories with its employees, sales professionals and leaders to generate cutting-edge ideas. • Reapfield focuses on the power of three: working on a support network of three personnel for all projects that the team undertakes. • Reapfield believes that players in the real estate industry should not compete with one another but should, instead, complement each other’s strengths. • Reapfield’s mission statement is to honour God by developing and equipping its people in order to provide the highest standard of real estate services. • Reapfield has 13 offices in the Klang Valley and one office in Penang.
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