By Earning the Title of RE/MAX Egypt’s Top Office of the Year 2023

For the first time, RE/MAX Home Masters secured the esteemed title of RE/MAX Egypt’s Top Office of the Year 2023. This significant achievement stands as a maiden triumph for the entire office and its owner Mr. Mohamed Samy, eliciting profound pride and admiration for their success and accomplishment. In recognition of their hard work, we were fortunate to engage in conversation with Samy, delving into the strategies fueling their remarkable success. Our objective is to disseminate his inspiring journey among fellow real estate professionals, providing invaluable insights for their own pursuits.For the first time, RE/MAX Home Masters secured the esteemed title of RE/MAX Egypt’s Top Office of the Year 2023. This significant achievement stands as a maiden triumph for the entire office and its owner Mr. Mohamed Samy, eliciting profound pride and admiration for their success and accomplishment. In recognition of their hard work, we were fortunate to engage in conversation with Samy, delving into the strategies fueling their remarkable success. Our objective is to disseminate his inspiring journey among fellow real estate professionals, providing invaluable insights for their own pursuits.

1) How do you feel that your office claimed the title RE/MAX Egypt’s Office of the Year 2023?

For us, achieving the top position was more than just a feeling—it was the realization of a long-held dream. Over the span of six years with RE/MAX, we steadily progressed from lower ranks to finally reaching the top. This journey was a testament to our resilience and determination, culminating in what we consider a remarkable success story.

2) The year 2023 faced economic fluctuations and challenges. How were you able to stay optimistic with these challenges?

In retrospect, the year 2023 was full of challenges, particularly due to the volatile situation surrounding the dollar. Daily fluctuations in black market prices had a profound impact on market dynamics, creating a turbulent environment. Amidst such economic uncertainty, people sought refuge in assets that could withstand these fluctuations, such as real estate and gold.

Real estate emerged as a particularly appealing option due to its dual nature of preserving and appreciating in value over time, unlike gold which merely holds its value. This trend was evident in the significant shift towards real estate investment during this period.

Despite the economic hardships of 2023, we perceived it as an opportunity for the real estate market in Egypt to thrive and for us to achieve higher transactions as people turned to real estate as a safe haven amidst the instability, driving sales and market growth.

Read more: Which is the Best Choice? Investing in Real Estate, Gold, or Saving Certificates?

3) Tell us about your journey in real estate. How did you start and what made you decide to invest in a franchise at RE/MAX?

Our startup journey with RE/MAX began in early 2018, following the establishment of the franchise in Mansoura towards the end of 2017. The idea came to me as I was returning from Saudi Arabia to Egypt after working in pharmaceutical sales for several years. I was looking for a career in sales as well and saw that the real estate market was flourishing in Egypt. The desire for choosing a brand with a robust reputation and support system led us to choose RE/MAX, providing a solid foundation for our entrepreneurial venture.

After our market research, REMAX emerged as the standout choice due to its strong brand presence. Its reputation as a multinational company offered significant credibility and prestige, akin to the renowned multinational corporations I had previously worked with. Targeting high-end clientele, REMAX's recognition among A-class individuals was invaluable. The support received during the initial phase, particularly in the first year, proved pivotal. I sought guidance from the head office, patiently learning and adapting to grow within the network. Success, I realized, is not instantaneous but rather a gradual journey towards excellence.

4) What sets you apart in your leadership approach within the office and with the agents? What strategies do you employ to lead so effectively?

Certainly, situational leadership holds a special place in my methodology, as I believe in guiding individuals gradually. It's a preference for me that the agents I work with come from diverse backgrounds beyond real estate, as it allows me to implement my approach and program effectively. I encourage them to embrace the roles assigned to them while I provide comprehensive guidance, guiding them from novices to professionals. Remarkably, within six months, significant progress is evident, surpassing those with more prior experience. My team comprises a blend of newcomers and experienced individuals, with approximately ninety percent having no real estate background.

I prioritize a leadership-centric approach over a managerial one because, ultimately, I perceive ourselves as a family. We integrate new members from day one, providing them with training and placing them under a Team Leader's supervision before eventually transitioning to directly reporting to me. Our operational model is characterized by strong organization, ensuring everyone's success while fostering a familial atmosphere. Our overarching objective is personal and professional growth. Our intention isn't to create unnecessary complexity; rather, it's about transforming lives and enabling individuals to achieve unprecedented success with us in Egypt.

5) How can you advise anyone who is thinking of taking up a RE/MAX franchise?

For those considering acquiring a RE/MAX franchise, it's crucial to recognize the strength of the brand name. RE/MAX offers robust technological support, brand recognition, and comprehensive assistance for any needs that may arise. The network provides invaluable support at both the headquarters and branch levels, with experienced individuals ready to assist. However, committing to this venture demands unwavering dedication and intense focus, as real estate requires a lifelong commitment to yield significant results. Nonetheless, venturing into real estate can be immensely rewarding, offering opportunities for substantial success.

6) What strategies do you employ to motivate and empower agents at RE/MAX Home Masters to excel in their performance, despite the challenges inherent in the industry?

I firmly believe in fostering self-motivation among our team members. While I provide encouragement, I also understand the importance of individuals motivating themselves. From day one, agents at RE/MAX Home Masters are introduced to a ranking system, showcasing successful performers both within the branch and across RE/MAX Egypt. This framework highlights their participation in a thriving ecosystem. I often emphasize that those surrounded by hard working peers are likely to excel alongside them. We support agents by gradually introducing them to a structured plan and attainable goals. With incremental progress, they can steadily work towards achieving their aspirations. Individual backgrounds undoubtedly play a significant role, as each agent progresses gradually from their initial days to achieving remarkable milestones.

7) What strategies do you employ to enhance the performance of your agents? And how do you approach expanding your team while ensuring continued growth and development?

We focus on robust people development through comprehensive training. Upon entering the real estate field, individuals receive fundamental education. Subsequently, under the guidance of Mrs. Maha Wahba Recruitment and Training Manager, they embark on a tailored journey encompassing various skills such as communication, presentation, and closing techniques, facilitated through a monthly agenda. Additionally, continuous orientation sessions are conducted throughout the month. To stay on top of market dynamics, agents receive support from team leaders, senior members, and direct management.

Recognizing and appreciating achievements is paramount. I awarded our top achievers in our office with a pilgrimage to Umrah this year, fostering a sense of strong appreciation. Each success is met with unwavering support, including access to necessary tools, legal and accounting assistance, and technological resources such as CRM systems. This comprehensive support framework ensures agents feel valued and motivated to remain with us, seeing our office as their home where they can grow and thrive.

When challenges arise, agents find a supportive network ready to assist them. From marketing initiatives to operational tasks, our team provides robust backing, ensuring agents have the resources they need to excel. This internal support system not only fosters success but also cultivates a strong sense of loyalty among our agents, anchoring them within the company.

8) What are your expectations for real estate in Egypt in 2024? Especially in Mansoura.

Predictions for the real estate market in Egypt for the year 2024 suggest continued activity and evolution. The market, known for its resilience, requires adaptability to its fluctuations. It's expected to consist of both resale and primary sectors. With resale potentially experiencing a decline due to cash constraints, it will hold about 40% of the market while the primary projects will hold 60%. Navigating between these segments is essential for market participants, particularly in burgeoning areas like the new cities and the North Coast.

The North Coast is anticipated to emerge as a prominent player in 2024, alongside other new cities such as New Mansoura, New Cairo, Mostaqbal City, and New Zayed. These regions are poised for growth and significant transaction volumes, contributing to the overall market expansion. Last year's total market transactions amounted to 70 billion pounds, with expectations for this year to range between 90 to 100 billion pounds, driven by investor confidence in real estate. The aftermath of economic shocks, including currency fluctuations, has redirected investments towards real estate, further bolstering sales. This trend is likely to intensify in 2024, particularly in the latter half of the year.

In terms of Mansoura's real estate landscape, resale opportunities are limited due to the state’s suspending licenses for new buildings from 2020. However, New Mansoura presents substantial potential as a coastal city, attracting residents from the Delta region. With established amenities like universities and international schools, along with upcoming villa developments, New Mansoura is poised to be a standout performer in the Delta region for 2024.

9) What advice would you offer to investors this year?

Based on recent market trends, my advice to investors is clear: now is the opportune time to invest in real estate. Contrary to speculation, real estate prices are not on a downward trajectory; they are steadily increasing. With numerous government projects underway and rising demand, real estate prices are expected to continue their upward trend. Therefore, I recommend potential investors to act swiftly if they intend to invest or purchase property, as waiting could result in missed opportunities for substantial returns. Real estate values tend to appreciate over time, making it a wise investment choice. Therefore, I urge every investor not to delay their decision, as the longer they wait, the more they risk missing out on potential gains.

10) And finally how would you like to end this interview?

On a different note, I am pleased to share that this year has been a year of success for RE/MAX Home Masters. From the Office Clerk to the highest management level, every team member has worked tirelessly to achieve our goals. Our collective efforts and teamwork have earned us over 40 awards this year alone across various categories, including office, agents, and teams. I extend my sincere gratitude to Mrs Maha for her invaluable contributions to recruitment, training, and development within our company. Her efforts have truly made a difference and positioned us for success. Thank you all for your dedication and hard work.

We would like to congratulate Mr. Mohamed Samy and his office RE/MAX Home Masters for claiming the prestigious title of “Top Office of the year 2023” for the first time. We wish them more success in the coming years.

If you want to start your career in real estate, build a team, join RE/MAX Egypt as a real estate agent, or invest in a Franchise contact us by calling +202 2269 2004 or visit our page on our website.