Cebu-based realty firm opens new building-A A +A
Wednesday, January 22, 2014
CEBU-based Leuterio Realty and Brokerage marked the completion of its building last Saturday.
The company said it is the “first-ever realty firm-owned building in the Philippines.”
The building was “through commission,” company owner Anthony Leuterio said. The company invested about P10 million for the four-storey building on Villa Aznar Road in
The building is the third headquarters office of the Leuterio Realty and Brokerage, with the first office only able to accommodate five employees in 2008.
“The growing economy of Cebu and the Philippines has helped spur the growth in real estate industry. Leuterio Realty has taken advantage of this factor to leverage its growth,” the company said in a statement.
With only two agents since its inception, the firm was able to gather a roster of 700 agents a year after. This growing number of agents pushed the company to transfer to a nearby office that had enough space for seminars and holding areas.
In 2013, the growth doubled as the number of agents increased to a thousand. Leuterio said he designed the building to accommodate the increasing number of agents and the company’s needs.
It now has meeting and conference rooms and an awarding area.
“This building was built to show that there is business in real estate,” Leuterio said, citing that adding on real estate jobs on the side can offer lucrative gains to those who want to augment their income.
He said 80 percent of the firm’s agents are “part-timers.”
Leuterio said agents can earn as much as P100,000 a month to even as high as P500,000.
For every unit sold, an agent will get a five percent commission on average.
He emphasized, however, that unlike other real estate service firms that do not have good relationship with agents due to delayed or unreleased commissions, Leuterio Realty and Brokerage releases commissions immediately and on a per day basis.
Last Friday, the firm released a total of P1.7 million in commissions, he said.
Leuterio said it is also time for agents to earn bonuses because developers are offering a lot of perks to agents like cars, insurance and free travels because of the competition in the real estate industry.
In the past five years, the Leuterio Realty has consistently gotten top seller awards in major horizontal and vertical developments from property developers, said Leuterio.
Last year, it was awarded as the best residential agent during the Philippines Property Awards 2013, the best property consultancy firm for the Southeast Asia Property Awards and the best commercial agent for the Philippines Property Awards.
Asked on what made the firm stand out in terms of sales, Leuterio said the company banks on “honesty.” He said Leuterio Realty is very particular with “honest and transparent transactions.”
Leuterio Realty and Brokerage has eight offices in Cebu in Mandaue City, Cordova, Lapu-Lapu City, Talisay City, and two offices in Cebu City. It also has international sales branches in USA, Hong Kong, Singapore, Europe, Saudi Arabia and Dubai.
Published in the Sun.Star Cebu newspaper on January 22, 2014.