Real Estate Professionals Society (REPS) has been launched on the market last week, on June 15, 2011, at Crowne Plaza Hotel, with an informal cocktail. A limited number of developers and investors joined the real estate consultants in their efforts to better represent the industry's interests and promote higher professional standards on the Romanian market.
REPS was represented by Denis Donoiu (BNP Paribas Real Estate), Razvan Iorgu (CB Richard Ellis), Ilinca Paun (Colliers Romania), Valentin Ilie (Coldwell Banker), Razvan Gheorghe (Cushman & Wakefield), Mihnea Serbanescu (DTZ Echinox), Tim Wilkinson (DTZ Echinox), Ben Binns (Jones Lang Lasalle), Levis Vlad (Jones Lang Lasalle) and Monica Barbu (The Advisers Knight Frank), along with some of their guests: David Flusberg (Adama Management), Tal Roma (Afi Europe Management), Christopher Shonn (Argo Real Estate Opportunities Fund), Stefan Oana (Bluehouse Capital), Eric Royer (Bouygues Immobilier), David Hayward (Dinu Patriciu Global Properties), Aurelia Luca (Global Finance), Luc Frans Marie Ronsmans (Plaza Centers Management Romania), Hanan Shhraiter (Plaza Centers Management Romania), Florin Furdui (Portland Trust), Ion Ion Tiriac (Tiriac Imobiliare), Tomas Manjon (Tiriac Imobiliare), Silviana Badea (Valad Property Group).
REPS' main objectives are promoting the local industry's interests, improving the quality of services, a better representation of the real estate community in the market and facilitation of the dialogue with the public authorities and the specialized institutions.
To this purpose, starting September, REPS will launch a calendar of activities counting several conferences, workshops and networking meetings meant to ease communication and strengthen collaboration among the most representative real estate consultants, developers, investors, financing institutions and other market specialists and advisers.
REPS has eight founding members: BNP Paribas Real Estate, CB Richard Ellis, Colliers Romania, Coldwell Banker, Cushman & Wakefield, DTZ Echinox, Jones Lang Lasalle, The Advisers Knight Frank. The coordination of REPS is provided by a presiding committee, with Mihnea Serbanescu, DTZ Echinox, acting as President, Razvan Iorgu, CB Richard Ellis, and Valentin Ilie, Coldwell Banker as Vice-Presidents.
"It is for the first time in the existence of the modern real estate market in Romania that all the key representatives of the international consulting companies agree to set up a common platform, with a unitary set of objectives and to act as one to raise the professional standards, to increase the quality of the services to clients and to improve the legal framework of the real estate business.
"The initiative shows that the local real estate market has significantly matured and it is now ready to take firm steps towards an alignment with the more established international markets, in what concerns methodology, ethics and performance," commented Mihnea Serbanescu, President REPS.
"We are pleased to see that we finally have a concerted initiative to bring standards, transparency and professionalism to the Romanian Real Estate Market. As a client and I am sure this is the case of all real estate consultancy services and research beneficiaries: developers, investors, tenants, banks etc. Valad has high hopes that we shall see more cooperation between the Agents, both on the consultancy side and on the brokerage field, as well as support in promoting new legislative initiatives that would take our business environment to the next level.
"I congratulate the promoters of this venture and wish them luck," commented Silviana Badea, Country Manager Romania, VALAD Property Group