Chilean real estate company Property Partners has crossed the Atlantic after 10 years in the luxury real estate market. Spain is the sixth country in which it will have a presence, having previously expanded into the United States, Peru, the Dominican Republic and Uruguay. The company aims to open 30 offices in the next three years before considering further expansion into other European countries.

Since its arrival in Spain, Property Partners has already opened two offices in Madrid and one each in Barcelona, Mallorca and Menorca. During the first six months of the year, it will open another in Valencia, and by the second half of this year it will open its third in the capital. Although the company wants to expand throughout the country, it has focused especially on these destinations and other specific ones, such as the Costa del Sol, San Sebastian and Bilbao.

Job creation
To consolidate its position in Spain, the firm plans to invest over 3 million euros by 2028, a figure that will depend on how many offices it ultimately opens in this period. According to its forecasts, it will have five offices in Madrid, where it aims to acquire around 500 properties this year and exceed 1 million euros in turnover. Each Property Partners office represents an investment of between 100,000 and 120,000 euros and employs between 10 and 12 people, including its own staff and collaborators.

The company has its own sales, marketing and customer relationship management (CRM) programme. Its work focuses on four main lines: housing, premises and offices, land covering over 50 hectares, and international, which includes the Spanish market.

Proprietary technology
The company's Country Manager for Spain, Felipe Reuse, defines its business model as “phygital”, because, as he explains, “in a very fragmented market, where no participant exceeds a 5% share, we believe that the winners will be those who mix professional and human talent, in an office and with a brand presence with a digital side, i.e. cutting-edge technology to tackle work efficiently”.

Reuse explains that the advantages of the company having developed its own technology is that the software is “tailor-made and evolving according to the needs of the business advisors in order to make the work more efficient. It does in addition make for a very well-organised customer follow-up process, which includes automatic communications to customers with properties that match their search profile and much more.”

The company sees differences between the American markets and the Spanish market, for which it only sees similarities with Chile, its country of origin. In Reuse's words, “it's a very different model, more informal, unregulated; here the battle between agencies is won by the one that provides good service, professional handling and technology that achieves excellence”.

^{Photo: Property Partners}