Presentation of LUXIMOTI and its work
LUXIMOTI's Managing Partner Nicola Stoyanov talks to

LUXIMOTI is a real estate agency specializing in the luxury property segment. The company was founded in 2007 and at present it has 50 employees in 15 offices around the country. Nicola Stoyanov the managing partner and co-founder of LUXIMOTI talks about the company to the specialized real estate portal

Mr. Stoyanov, what are the stages of selling a property at LUXIMOTI?
The procedure is the standard one. Our advertisement reaches a lot of people as we aim to reach all property sellers. We do this through online and offline advertising. Our company has a good image and is well known on the market. When an owner decides to sell their property they make an enquiry on the phone, via mail or skype by contacting our call center. Our colleagues redirect the enquiry to the real estate consultant in the region where the property is located. What the seller must provide is the details of the property and general information about it. The real estate consultant makes a viewing of the property and has the first consultation with the seller during which the client is given information about the market as well as advice from our experts in which price segment to position their property. This is very important for the sellers as they usually do not have such detailed information about the market. Then our professional photographer takes photos of the property. A video clip is also made. It is important for the real estate agent to feel the atmosphere of the property.

The presentation of the property must be done to a high spec. After that the offer is drafted by our website team and the offer is uploaded on the company site. An agreement for exclusive sale rights is signed with the seller, but if they do not want us to be the exclusive selling company we can discuss it. However, we are the exclusive seller of most offers which we have earned with years of hard work.

Does the consultant advise the owner how to make the property more saleable?
Yes, this is done during the first consultation. We advise the owner how to prepare their property for sale it must be clean, tidy and neat. The property must look good when it is photographed and filmed.

What are the stages for renting a property?
The stages are similar to those when selling a property. The difference is that we dont always send a photographer to the property he goes to the property only if it falls into the highest price segment. From then on the process is almost the same.

What is the profile of your clients?
We work in the high price segment which means that our clients are well off. They are aged between 35 and 50 years, they have a good profession or are businessmen and have good status in society. Our clients are people who know what they want and know how to find it. They have invested quite a lot in their properties and want to get a good price for their investment. We also offer properties abroad, mainly in Northern Greece and on the Chalkidiki Peninsula. We service foreign clients but they mainly look for luxury rental properties in Sofia or Varna.

How did the crisis influence the luxury property business?
The crisis has had a negative impact on us as well, but we are happy to say there is no oversupply on the market. I can even say that there is undersupply of truly luxury properties. Demand is constant in this segment, it is stable. During the crisis prices didnt fall as dramatically as in the other segments. In the last couple of years prices are stable and so is the demand.

What is the added value for the people to use the services of a real estate agency?
They can count on the professional help of consultants who have the necessary experience, education, and knowledge to offer properties and to look for clients of elite properties. This is not a segment everyone can work in. What is needed is good training which all our agents have. They go through language courses and specific trainings as we strive to provide training to our employees constantly. We want them to follow what is happening on the market. We plan our business long-term and that is why we want our clients to be happy. I would say that sellers can get a better price with us because we know the market and we know how to position their property. The legal protection of the offer is not of less importance. These are things the sellers and buyers cannot consider by themselves.

What is your commission?
Our commission starts at 3%. We work with commissions that are standard for the market. For properties that are more difficult to sell or that are located in places with a lot of supply (where we know the market is tough and marketing expenses are higher) we dont mind when clients decide on a higher commission.

Could you tell me what luxury property means in Bulgaria, as we know this concept is not very clear?
The concept of luxury property is very close to that in Western Europe and the US. However, we should keep in mind where we live. Even if our clients live in a gated development with all amenities and extras when they come out of the development it is very possible they will enter an environment that is not so luxurious.

The most important feature is the location of the property. What follow are the technical characteristics, the quality of the materials and of the finishing works, the functionality of the rooms, the interior design, the furniture, the architecture and the overall concept of the property.

Prices of luxury properties in Sofia start at 1,200 Euro/sq.m. as there is no upper limit, but in most cases their prices get to 2,500 Euro/sq.m. Prices of elite properties along the Black Sea coast are similar, but there are also properties there priced over 2,500 Euro/sq.m. as they are waterfront and in perfect locations. There were also some overprices properties but their prices were discounted.

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