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Simeon Mitropolitski

Simeon Mitropolitski is a Canadian analyst, of Bulgarian descent, and former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with the hot political and economic topics, both Bulgarian and international. ("A Royal Solution." World Press Review. June 1997, provides English versions).

He was part of the first group of Bulgarian intellectuals that began the opposition movement that finally put an end to the communist regime in the country, and in 1996-1997 participated in the international monitors' teams during the elections in several Balkan countries - Romania, Albania and Bulgaria. In 1999 he was among the few Bulgarian journalists that supported NATO military operation against Yugoslavia. In 2002 Simeon and his family emigrated from Bulgaria to Canada where they now live in Montreal, Quebec.

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3 December 2004

Where are the Asian Realtors® Hidden?

© 2004, IRED.Com, Inc., Simeon Mitropolitski

Everyone who has tried to find Realtors in any Asian country knows well that it's not easy to find many of them no matter how well we are fluent with the Internet search engines. The problem isn't in the engines, but rather in the key words we use. Most Asian countries unlike North America and Europe have different view on the real estate business. Many professionals hide under different names and act within different organizations, sometimes with no direct connection to the real estate business. Some of them simply can't afford the luxury to be full-time realtor estate agents, preferring to do this activity alongside many others, sharing the costs and benefits of the common Internet roof with difference organizations and activities. This article aims to give at least some possible clues for those searching desperately for properties, residential or non-residential, in Asia.

  • Local authorities. Many Realtors or real estate professionals or just professionals that have such activities as part of their job description prefer to work within or together with the local authorities in many Asian countries. Why they prefer to work with local politicians instead of joining forces together with other realtors? This depends on the specific political and business environment. Such official sites usually have business links and special pages, dedicated to the general investment matters. Some of these pages include contact information leading to real estate agents that can't afford maintaining their own Internet site. Key words: region, district, city, and village.
  • Local private sites. Some real estate activities are hidden behind general regional or country's private guides. Usually such sites contain business links, including companies specialized in selling and leasing properties if such activity is allowed in this country or region. Usually such sites contain useful information about the rights of the foreigners to buy or to lease property for residential or non-residential purposes. Key words: guide, gateway.
  • General investment authorities. Some states prefer not to give the private sector a say in the development of areas considered to be strategic. On the other hand, this doesn't mean these states will refuse foreign money in the process of development. That's why they act as brokers, although their Internet sites won't bear such titles. As an example for such brokerage we may find state-run investment authorities. Key words: invest, investment, economic development.
  • Specialized investment authorities. They look like the previous group with the only exception that they are specialized on particular region of the state and have a special charter specifying their rights as state organizations. Examples of such specialized authorities are the port administrations, selling or leasing land for development for industrial, commercial or residential purposes. Key words: port authority, invest, investment, development.
  • Specialized business associations. Many realtors prefer to join forces and act as business association on a given territory, instead of acting alone. The obvious reason is to share the costs of the business activity. Sometimes such association don't appear under the names linked to the words real estate, but rather can be found as association for investment in area X. Key words: business association.
  • Business groups with general goals. Some real estate activities are performed under the roof of business organizations that at first sight have nothing to do with the real estate industry. Companies producing ships, cars, machinery of different sort can hardly be suspected of acting as brokers, developers, and property managers. In some Asian countries this is quite normal. These economic conglomerates try to encompass as many as possible activities in order to feel independent from other conglomerates like themselves. Key words: company or group name (Toyota for Japan, Hyundai for Korea, etc.)
  • Tourism industry. Many property management companies and landlords act primarily as tour agents or resort administrations or diving centers. The reason why they insist on this is perhaps the share of the tourism activity within their business as a whole. After zooming into their sites we often find properties for sale or for rent. There are places in Asia where the tour and travel organizations are the best-prepared people for dealing with foreigners, making them ideal real estate brokers. Key words: tours, travel, resort, diving.
  • Universities. Thousands of young people change their country of residence each year as exchange students. Many universities in Asia have special programs for such foreigners. Part of these programs is finding comfortable and affordable housing. If you're such a student, go to the official academic sites, find their English versions if you aren't familiar with the local language and look for the specialized information. The accommodations may be either run by the university or by private companies having special contracts to work with that university. Key words: university name, student accommodations.

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See also the directory of companies providing real estate services in, and general real estate information of Asia.

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