Marcella Spee Horta e Costa

Dutch born Marcella Spee Horta e Costa created ABLOOMproperties less than a year ago at a time one would think most unlikely. She explains how this period of crisis could be an opportunity for change, both in requirements and in values. With a father involved in construction and a mother who loved remodeling houses, she was early equipped for what would become her field of expertise. TGIF performed an extensive interview at her agency in Almancil. What she is, is reflected by the décor and design surrounding her : clear, authentic, open and attractive.

How did you come into the property business ?

I did lots of different things in Portugal but always related to business, I like to work with numbers. I started to work in real estate after I had my children. You do need, apart from expertise, some experience in life to give advice. Although the real estate business is not too complex, no math science, I do believe there are some skills that one must have to succeed. Some of them are in one’s nature like integrity, being a good listener, convincing, plausible. Speaking the Portuguese language and have a knowledge of rules and laws regarding real estate is a must as well as an understanding of insurances, taxes, mortgages, construction, renovation, interior design, etc….

…and into creating ABLOOM properties ?

I have worked for many years in real estate in Loulé , I enjoyed it very much. It was a small agency but I felt that I could make a difference. Within the company there was this constant effort to improve strategy and services. When the crises began I felt that the company’s policy and approach of this new situation was very different to what I thought had to be done. The time was there for me to move on. During months I have worked on the creation of a new company. I have thought very carefully about all matters and ABLOOM is the final result.

“Clients (purchasers or sellers) are asking for more quality service and expertise… probably the most positive side issue of these difficult times”

What are the main changes that have occurred in the property market in the Algarve?

The highest percentage of buyers in the Algarve are still the British and the Irish but this market is very distressed. I feel that dealing with other nationalities at this moment is important. Real estate agents in the Algarve worked mostly the “British/Portuguese “way. This means that over the last 10 to 20 years everyone or anyone could be a broker. In Holland, your “real estate broker” is your advisor. You should be able to trust him as he is well informed about all matters that have to do with purchasing or selling a property. Buyers do not need a tour guide but useful information. It is obvious that because of the current crisis, clients (purchasers or sellers) are asking for more quality service and expertise which is an improvement for our industry and probably the only real positive side issue of these difficult times. Portugal has tightened the rules regarding the real estate industry and other related businesses a lot in the last couple of years. It makes this industry more professional and serious. I have to admit though, that some rules are real “killers” and do not help but only complicate things but overall this change has internally influenced our industry tremendously.

Are prices justified?

Often a valuation is done by looking how much the neighbor has his house on sale for. By increasing this amount a bit, the broker trusts that this approach can convince the seller to use the services of his agency. If this is the criterion to get to a valuation…..I rest my case.

“No dump prices or ridiculous low offers but a more realistic approach is the only thing I ask”

What do you refer to when you say in your communications “let’s get real about real estate”?

It is important to realize that the increase of prices of the last 10 years was extravagant. Today, buyers in general like to feel that they are making a safe investment and are very critical about what they are buying and for how much. Sellers are sometimes hard to convince that the asking price can´t be giving a tremendous profit anymore and sometimes people even have to take a loss if they sell in this market and bought in the “peak” market.

In Portugal it is a very unusual thing to ask a vendor how much he has paid for his property. One of the main and very normal questions any broker would ask in Holland when discussing the asking price. It is even public information. This question is not the main criterion of calculating a sales price of course but can open up the discussion of “what is a realistic selling price”.

Let’s be honest about it; Quinta do Lago and Vale de Lobo have gained so much increase of value for many right reasons and to my knowledge still do. Many other locations sailed on this same wave but we have come to times of “a reality check”.

No dump prices or ridiculous low offers but a more realistic approach is the only thing I ask and happily there are meanwhile many vendors that agree with me. Lots of buyers do not choose to be in resorts like Vale de Lobo, Quinta do Lago or Vilamoura but prefer the country side. That should also be reflected in the price.

“We have to cooperate with proper advisers that have earned a good reputation to complete the package that we offer our clients”

What would you say your position on the market is?

I do think I, or maybe better to say ABLOOM can make a difference regarding a couple of things; a portfolio of clients of other nationalities, 25 years of experience of living and working in Portugal and the fact that our office takes our profession very seriously and that we give high quality service. Also do I believe that it helps having many clients I worked for in the past that know that discretion, and good advice and after-sales is what I offer.

It is what you refer to when you speak of quality guidance?

Yes , I believe that together with good guidance, we have to cooperate with proper advisers that have earned a good reputation to complete the package that we offer our clients. A good combination of our own expertise with a related business that could bring them quality service.

“I feel that I have to be able to explain to my client the reason of our fees.”

Are real estate agencies realistic about their fees?

This is a difficult matter to discuss. I never felt very comfortable with these very high percentages. Don´t get me wrong, I like to earn money. Also can this high percentage be explained by the way the system works. There exists hardly any exclusivity contracts in the Algarve (apart from some franchising companies), which I think would be the answer to drop these high fees. Vendors often give their property to lots of agencies. And believe me, it is most frustrating if you spend lots of money and work to market and promote a property and the Real Estate Company next door (that might have done nothing) sells this same property and therefore receives the full commission. Still, I feel that I have to be able to explain the reason of our fees. I decided that ABLOOM would keep it reasonable. We ask 3% for properties over a million and 4% for properties under a million.

What are your buyers most looking for?

There isn’t a specific profile, some want to be inland, some on the coast, some want a safe place in a condominium. The secret is to understand what your client really wants and subsequently finding him or her their perfect place whether it is for a small or big budget.

“ABLOOM is focusing on the Dutch, Belgium and German market”

You said the British were not at the moment the privileged market they used to be, who are the new buyers coming to the Algarve?

Well, the Chinese have bought lots of shares of the Portuguese government lately… (laughs). So they will come over. The Russians are coming little by little. But for the moment ABLOOM is focusing on the Dutch, Belgium and German market . But we have to be open to new markets and naturally ABLOOM keeps informed about future developments regarding new buyers.

What is your vision for the next few years in the Algarve?

It will get better when people get fed up with the influence and effect the “Crisis Talk” has had on them. Years of being very careful, afraid and all this negativity will soon end. There are still so many people with the possibility and capital to buy a house in the sun.

Just think; The Algarve doesn’t have any industry, the wonderful weather has such an unbelievable influence on your well being and it only takes a short trip to get here. The Portuguese are pacific people. These are all very strong assets and will remain. It’s a real privilege to live or have a holiday home in the Algarve. We, local businesses have to do our very best (or better) to show that we can deliver quality products and services and therefore get the trust of the doubting investor to choose the Algarve.

What are your biggest professional achievements ?

All my sales have felt like achievements. I did many. Expensive and big ones and small and sometimes complicated ones. I don’t like to mention names for ethical reasons but I dealt with some very well known projects. Discretion is key, this is my opinion.

“I am Dutch and a born catholic, this seems to be a good combination for swearing skills.”

What makes you angry?

Well in business, I get very angry when other people don’t do their job properly or seriously. And I like to keep the speed in things. I am afraid I have very little patience. I am a perfectionist and ask the same of co-workers. It may not always be fair to expect that from others, but that’s me.

What’s the most precious thing you’ve learned from life so far?

First, don´t try to take yourself too seriously but remain critical. Second, Integrity pays of. And the most precious thing in life are my children without any doubts. All the rest is detail really.

What’s your favorite curse word?

Oh , I know many….., I am Dutch and a born catholic, this seems to be a good combination for swearing skills. But I try to use them only when I am on my own….of course!

If heaven exists, what would you like God to tell you when you arrive?

I find the question hard to answer as I do not have anything with God. But if the question is : what would you have liked to achieved at the end of your life ..I would say that my children think and feel that I have done a good job.

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