Mon, Jul 22, 2002 - Page 11 News List

Property market looks up for buyers

With banks rushing to auction off the underlying collateral of non-performing loans, Billy Yen, general manager of Debenham Tie Leung (DTZ) international Property Advisers, recently emerged to become one of the most popular private auctioneers and has successfully liquidated NT$750 million (or 400 units) for banks since last July. Last week Yen spoke with `Taipei Times' staff reporter Joyce Huang about the outlook for the nation's seemingly recovering real estate market

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TT: As one of the first private auctioneers, how do you look at your role and professionalism in the business?

Yen: Eloquence, market expertise, a world view and entertaining ability are the attributes of a fine auctioneer. He or she may simply act as a host [in auctions], but property knowledge will perfect his or her skills. A well-performing auctioneer should be able to keep the auction atmosphere and its process under total control. More importantly, he is also an order-keeper and dispute-settler on the spot since a unit worth millions of NT dollars is usually sold within an average of five minutes.

This is a new business and there's still little talent in Taiwan. Therefore, branding strategies may be very important [to us] in the near future so that consumers know which companies are professional and who to trust.

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