Ever since Vince Baldacchino decided to take his career from air traffic control into real estate, he has been looking for ways to improve and innovate how he and his team connect with buyers and sellers to sell houses. “One of the first things I noticed as a property negotiator was how well property owners connected with potential buyers,” Vince says. “Owners are highly motivated to sell and ready to be flexible to close a deal.”

That observation eventually became the guiding principle of the Owners Best property network. “Rather than taking buyers to listings with limited information, we provided plenty of information upfront through our own property magazine,” Vince explains. The goal was to save buyers and sellers time by creating good matches even before the first viewing.

“We took a big risk by changing our way of working, but because of that new approach we immediately established our market segment.”

Since those early days, Owners Best’s approach has changed. “To be successful, you need to be innovative and follow market trends. For example, social media is very powerful in real estate marketing and sales today,” Vince says.

Aside from taking a new approach to real estate marketing, Vince and his team started working more closely with property developers. Vince explains: “We applied our approach of connecting buyers and sellers, and by working diligently, we started selling more.” Initial success led to a snowball effect with developers confident to bring Owners Best into the process earlier and earlier, eventually leading to a partnership.

Over time, cooperation grew into a separate business, and Vince set up Cosmopolitan Developments Ltd. capitalising on his and his colleagues’ years of experience. “We know the flaws and headaches of people involved in property development. Our teams work both smart and hard to make sure our buildings are not only nicely designed but also built with high-quality materials and craftsmanship.”

The company prides itself on delivering its projects on time. “So many projects are running late, but by being hands-on throughout our projects and making sure the entire team working on a development is happy with their jobs, we surprise our clients and complete on time or early,” Vince explains.

People are at the heart of the success of both Owners Best and Cosmopolitan Developments. For the real estate business, Vince has always been happy to hire people without industry experience. While that may sound counterintuitive, Vince sees several benefits: “I believe in systems, and we have built a really strong system for our agents to sell successfully. As long as someone is committed to learning about our system and ambitious enough to want to improve their life and earn a good salary, we can teach them the rest.”

Owners Best currently has a team of 40 agents and more than 50 per cent of them have been with the company for over a decade. “The system we use makes it easier to sell more, and that’s why agents stay with us. We also create a nice work environment and show our team members that they can become anything they want in this industry.

As the company owner, Vince focuses on motivating his team and finding ways to simplify the selling process to benefit agents, buyers and sellers. “The core to success is to leave a good impression and build long-term relationships with our partners and clients,” Vince says. The company’s numbers speak for themselves with approximately half of the team’s sales originating from referrals.

Over the years, Vince’s commitment to flexibility and innovation has also helped him understand changes in buyer preferences. Whilst these changes normally happen gradually, the coronavirus pandemic accelerated some of them.

“Previously, residential buyers were looking for spaces to sleep and to live. Now, the best properties offer dedicated spaces to sleep, live and work,” Vince explains. “Working from home has changed what buyers are considering important.”

Aside from workspaces, outdoor spaces are among buyers’ top priorities. “When you show a residential property, most buyers will head straight for the terrace or other outdoor spaces and spend about half of their viewing time there.” Vince believes that successful developers need to include stunning outdoor spaces in their plans.

Vince sees a bright future for Malta’s real estate industry: “As long as banks are providing finance, people will be happy to buy. Most people prefer owning a home to paying rent to someone else.” At the same time, Vince acknowledges that the sector’s growth depends on how prices develop and whether homes remain affordable.

When it comes to developing his teams and getting them ready for the future, he believes the key to true success lies in earning more while working less and minimizing distractions. “We genuinely teach our people the best way to be successful while still leaving enough time for themselves and their families. This can be achieved by first knowing exactly which few tasks make the biggest difference. Second, create a system to complete these tasks efficiently and easily. Third, teach everyone to master these few tasks, monitor them and provide feedback.”

Despite the company’s expansion into property development, people remain the greatest asset of Owners Best and Cosmopolitan Developments. “We involve our people in our strategic planning, and we make sure that our people are the first to benefit from whatever decisions we make,” says Vince. Employees come first, the company comes second.