The dizzying growth of Malta’s real estate sector over the past decade has allowed for already-experienced industry professionals to gain new levels of insight and knowledge into the market they serve.
Against this backdrop of activity, Pierre Faure Real Estate has stood out for its unwavering commitment to excellence, integrity, and personalised service spanning over two decades.
We caught up with Stefan Consiglio and Steve Spiteri who have previously worked as associates with Pierre Faure Real Estate, the mother company of Malta Property Auctioneers – Malta’s only real estate auction house, who now launched a new company, Streets Real Estate Ltd, to manage and direct both brands.
Stefan draws from his extensive 20-year experience in real estate to share insights, while Steve brings his 14 years of sector experience into the conversation.
Stefan recalls the inception of Pierre Faure Real Estate back in 2003, which carved a niche in mid to high-end real estate. Later, Malta Property Auctioneers (MPA) was born, pioneering property auctions in Malta, a novel concept at the time. Stefan notes, “Although property auctions were common in countries like Australia, America, and the UK, they were unheard of here.”
When asked what prompted the launch of Streets Real Estate Ltd, Stefan and Steve expressed their eagerness to pick up the baton from Pierre and put their own stamp on the company, integrating their strategies into various areas such as marketing, training, and branding. All the while, they value the opportunity of consulting with Pierre as required. “He’s still a mentor to us when needed,” Stefan clarifies.
The two make it clear that Streets Real Estate Ltd does not seek to differentiate itself from Pierre Faure Real Estate, with Stefan stating: "In a constantly evolving market, it made more sense to continue what we've already started.” He went on to explain that "Streets Real Estate Ltd is just a new name for the company, not a complete rebrand," suggesting that while the name is being updated, the essence of Pierre Faure and MPA – their services and values – will remain intact within their new venture.
Stefan and Steve elaborate that as a start-up company building on an established brand, Streets Real Estate Ltd enjoys the best of both worlds: the autonomy to make decisions independently, coupled with access to the resources and reputation of Pierre Faure and MPA. They also highlight their own strengths as professionals, citing their years of experience as valuable assets, not to mention the support they offer each other as partners, which they consider as significant feathers in their cap.
Steve notes that “Pierre Faure Real Estate has been active for over two decades; so, it’s not a fresh name to the industry. And MPA has been in operation for the last 14 years, so we want to keep them alive and continue offering the personalised service that our clientele deserves – buyers and sellers alike.”
They also reveal their foray into international markets, collaborating directly with stakeholders worldwide to offer diverse investment opportunities. "We're not confined by borders,” Stefan notes, “we know that collaborating internationally not only opens doors to new opportunities but also enriches our clients' investment portfolios."
Although they’re eyeing expansion, Street Real Estates Ltd prides itself on catering to discerning clients seeking exclusivity and personalised attention. Clearly, their focus is on quality over quantity, handpicking properties to ensure a bespoke experience for every client. Stefan confirms this ethos saying, “We're not really the company that goes for very large developments and focuses on first-time buyers. In fact, it’s very rare that we ever transact with first-time buyers.”
When it comes to company culture, Stefan and Steve emphasise the values of transparency, honesty, and teamwork. Steve describes the office environment as very open. “Over here, there’s no need to walk outside the office to use your phone, we’re very much family-oriented.” And to highlight their team spirit, he adds, “At Streets, it’s not about ‘your clients’ or ‘my clients’; they’re all our clients... we focus on making it work together.”
Stefan builds on Steve’s point to highlight how this collaborative mindset extends even to working with other agencies: “Even with regards to collaborating with other agencies; we’re open for business. We’re not here to make 100% commission; if someone wants to collaborate with us on a commission-sharing basis, we’re all ears.”
Given the significant role repeat business plays in real estate, we were curious about the steps Streets Real Estate Ltd takes to ensure clients have a memorable experience and choose to work with them again in the future. According to Steve, “success in our business goes beyond simply sealing the deal”. First and foremost, they aim to build relationships that eventually turn into trust. "Once buyers or sellers experience our honest and reliable service and begin to trust us, they tend to come back,” Steve explains.
Stefan agrees, highlighting their dedication to go above and beyond for clients. "We strive to offer our clients a comprehensive experience, handling everything from A to Z. Whether it's recommending a service provider, simplifying bureaucratic processes, or providing marketing advice, we're committed to guiding our clients every step of the way, even after the sale is finalised. This holistic approach is what defines our professionalism."
To aspiring real estate professionals, Stefan and Steve offer invaluable advice. Firstly, they recommend immersing oneself in the industry by extensively exploring properties, networking, becoming familiar with the prices, and keeping tabs on market trends. Another piece of advice they offer is to consider joining a smaller team for personalised mentorship and ample growth opportunities. Lastly, they stress the importance of remembering one’s foundations, remaining humble, and staying true to one’s values.
As the interview draws to a close, Stefan reaffirms Streets’ commitment to integrity and providing honest service. Meanwhile, Steve highlights the immense satisfaction they derive from connecting buyers with sellers and witnessing that smile of satisfaction on both parties’ faces. “That, for us, is simply priceless,” Steve concludes, encapsulating a fundamental value of Streets Real Estate Ltd.
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