Property brokerage firm kicks off US sales tour

CEBU, Philippines - A 48-men delegation from Cebu will kick off a 15-day sales mission in the United States to promote real estate products, primarily condominium properties.

Led by the Leuterio Realty and Brokerage Incorporated, the two-week roadshow which will start tomorrow will include five states namely New Orleans, Los Angeles, New Jersey, New York, and San Francisco.

Anthony Leuterio, president and chief executive officer of Leuterio Realty, said that the group expects to generate at least P200 million to P300 million worth of sales deals from the 15-day mission, which if realized would translate to an estimate of 80 to 100 condominium units.

Now on its fourth year, Leuterio said the company’s sales mission to the US has always been one of the effective marketing and sales events for the real estate sector, specifically for developers, brokers and sales people, as actual sales and closing of deals are immediate.

"The demand is very strong. Filipinos residing and working in the US, as well as foreigners, are looking for good properties in Cebu, condominium is very popular," said Leuterio.

Last year, the same group generated an estimated sale of P150 million from a similar promotional event held in the United States, said Leuterio.

Supported by seven property development companies like Apple One, Contempo, King Properties, DurosLand Properties Incorporated, Primary Homes, Landmasters and Tambuli Properties, Leuterio said the group also scheduled an international convention, where developers will be allowed to present their respective products to the American market, to be held in New York next week. There will also be an open-house category during the convention, so far there are around 300 to 400 buyers registered to attend the Real Estate International Convention, organized by Leuterio's company.

Licensed brokers and sales persons participating in the sales mission will not only promote properties located in Cebu but also properties in Bohol, Davao, and neighboring cities and provinces.

There are over 6,000 condominium inventories in Cebu that are up for sale, including those that are scheduled to be completed in the next two to three years.

According to Leuterio, brokers usually endorse condo properties that are on the pre-selling stage when prices are still affordable. (FREEMAN)