LIVING "By the Real Estate Leaders" Winter 2019 #Issue 17 | Page 8

RE/MAX Egypt’s
AGENTS
OF THE YEAR
Mr. Michael Fanous Mr. Mohamed Abdel Razik
Team Category Individual Category
It has become customary for all RE/MAX Agents to eagerly wait for the Agent of the Year result to find out who was the most successful
achiever of the year. This not only benefits the winner who is applauded for their exceptional efforts and achievements but also inspires
other agents to work even harder as they strive to win next year’s title. This tradition, which RE/MAX Egypt continues to follow, celebrates
hard work, productivity, talent, leadership, determination, and commitment; all of which signify the core characteristics of a true RE/MAX
Agent.
This year, RE/MAX Egypt is not only celebrating one but two outstanding agents; Mr. Michael Fanous, first time winner of the Agent of the
Year – Team Category – title, from RE/MAX 1st Choice, and Mr. Mohamed Abdel Razik, third time winner of the Agent of the Year – Individual
Category – title, from RE/MAX Almohager I. We had the chance to speak to both winners who shared with us the secret behind their
accomplishments, how they managed to earn their titles, and their predictions for Egypt’s real estate market in 2019.
How does it feel for you and
your team to win the Agent of
the Year – Team Category –
title for the first time and how
did you work together to
achieve this great success?
It feels like all this hard work has finally paid off.
We made it at last! As for how we worked to
achieve this success, it was all about being a
team. This success is not only mine nor the
team’s but all of RE/MAX 1st Choice’s.
Knowing that this is a highly
competitive and fierce market,
is it better for a real estate
agent to work alone or to have
a team of professionals?
Since it is such a huge market, you can do either
one of the two. The most important thing to
consider is which option is better for you. So,
this is really based on each individual’s
preference.
What advice would you give
any real estate agent who is
considering to have a team of
their own?
Don’t be selfish. The most important thing is not
to think only about your interests but the
interest of the entire team.
6
This is such an intense job,
does having a team make it
easier?
It helps but it never stops being intense.
How does the primary market
differ from the resale market?
Is it harder or easier to achieve
the Agent of the Year – Team
Category – title in primary real
estate?
Primary real estate is just as stressful as resale but
in different ways. In the primary market many
agents work on the same unit while in the resale
market agents work on different units. Neither
the primary nor the resale market is easier or
harder; it is based on preference. I personally
prefer the primary market; I am good at it and
therefore this is what my team works on the
most.
What are your predictions for
the primary real estate sector
in 2019?
I expect that the market will be more intense in
2019 as it is a year where many developers will
be delivering units as well as introducing new
projects.
Congratulations on winning
the Agent of the Year –
Individual Category – title for
the third time. To what do you
owe your consistent success?
First of all because I was the first real estate agent
in Egypt to sign a contract with RE/MAX and the
first to complete the training courses, so I have a
very good understanding of RE/MAX’s system.
Second, I put it as my main goal this year to
become Agent of the Year for the third time and
to be the first one in RE/MAX Egypt to win the
title three times.
Being with RE/MAX for such a
long
time
and
having
previously won the title
several times, do you feel it has
become more challenging
for you to sustain your title?
Definitely. The number of agents in RE/MAX
Egypt has increased dramatically over the years.
Our network has currently reached a total of
550+ associates compared to RE/MAX Egypt’s
very first year where we were just over 50
associates. Our number of offices have also
increased
reaching
a
total
of
40
Franchisee-owned offices sold and 31 opened
offices across Egypt. So yes, it is much harder and
more challenging.
During your time as a RE/MAX
Agent, what was the real
estate market like five years
ago versus now? Do you feel
that there has been any drastic
change?
into the market who are on a high level of
competency. After all, RE/MAX does not give
its training courses to just anyone. Another
change that I feel is the increase in the
number of people investing in Egypt. I have
clients investing from the US, Canada,
Thailand, and this is proof that the Egyptian
real estate market is extremely strong
because it offers investors a bigger return
than that of banks.
What are your predictions
for Egypt’s real estate
market in 2019?
I am expecting a huge surge in the market.
There are many investors outside of Egypt
who have invested huge sums of money in
full confidence that the Egyptian market is
very strong. I’m constantly speaking to
foreigners and they believe that investment
in Egypt is the strongest. Keep in mind that a
studio apartment could sell for around 2
million EGP and if rented it can bring a profit
of 15,000 EGP per month which is a very big
number. There are also investors from
Europe and the Gulf to whom these prices
are affordable, $100,000 is not a lot. That is in
addition to the fact that very big developers
are investing in Egypt.
To help you sustain your
success even further, are
you considering having a
team of real estate agents to
support your future goals
and growth?
My next big step is of course a RE/MAX
Franchise.
The real estate market in Egypt has drastically
changed with the presence of large companies
such as RE/MAX that have significantly revived
the real estate industry as it introduced agents
7