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Luxury real estate's new spin

Prague's Svoboda & Williams takes a unique approach to client services

By Curtis M. Wong
Staff Writer, The Prague Post
June 18th, 2008 issue

JAN PŘEROVSKÝ/THE PRAGUE POST
Prokop Svoboda and Jaroslav Žižka head up the Svoboda & Williams team of executives who are helping transform luxury real estate.
Svoboda & Williams' Liliová 8 project is near Old Town.
Svoboda & Williams s.r.o.


Benediktská 3
Prague 1
Tel.: 257 328 281
E-mail: info@svoboda-williams.com
Web: www.svoboda-williams.com

Given their backgrounds, it seemed unlikely that Prokop Svoboda and Jaroslav Žižka would ever cross paths. In his teenage years, Svoboda dreamed of pursuing a career in the music industry, whereas Žižka set off to study civil engineering.
Yet years later, the pair met as colleagues at Svoboda & Williams, which specializes in luxury residential real estate. Now one of the company’s managing partners, Svoboda joined the firm as a client services agent in 1999, when it was known simply as Executive Housing Specialists. Žižka, the director of sales, followed in 2003.
And while the music industry seems worlds away from real estate, Svoboda says it’s a natural fit, providing him creativity, flexibility and the opportunity to work independently — exactly what he initially sought from a performing career. As for Žižka, his approach to the business might be more figure-oriented, but he also calls the development process and meeting with clients “opportunities to have a little fun.”
On the firm’s roster of premiere projects is Liliová 8, which offers luxury housing just a short distance from Old Town. Other high-end projects include exclusive properties in Vinohrady, Malá Strana and Smíchov.
Recently, Svoboda and Žižka sat down with The Prague Post, offering differing views on the city’s growing demand for luxury real estate, as well as some thoughts on how the market will shift and expand in the coming years.     
The Prague Post: On your Web site, you advertise yourself as “the oldest and most trusted name in Czech real estate.” Why do you think that your firm has this reputation?
Prokop Svoboda: I think it’s because my partner really started the company in the early 1990s. So the history is there. We’ve been here from the very beginning, and we’ve always been servicing the most high-end clients.
Jaroslav Žižka: During all of our transactions, we never lose a single crown because of our own mistakes. We provide people with a guarantee that there is somebody in the middle of the process who will secure the business of both parties. It’s simple.

TPP: What do you think sets your firm apart from its competitors and rivals in the Czech real estate field?

PS: One thing is our profile. From the very beginning, the company profiled in high-end real estate. We keep this profile, and I think that’s very specific to our company. Also, we stress the client services, as we don’t do that many transactions. Instead of 20 each month, we do maybe three or four residential sales. We can focus on client services, and we get positive feedback from our clients.
JŽ: I think the most important thing is that we’ve stayed in the high-end market from the beginning. I think it was a good decision, because people want to feel the exclusive basis. We’ve stayed in this segment, and we’ve adjusted our marketing and services to suit this. There’s big competition, but we work one step forward, because we deal mostly with the [most exclusive] residences.

TPP: Are you interested in expanding to any of the regional areas outside of Prague and maybe other countries?

PS: Not so much at the moment. There are some plans, but I think at the moment there are different priorities. I think the Prague market offers so much potential that hasn’t been tapped yet, so we really want to focus on the high-end market in Prague. We see a lot of potential there. At the moment we have a lot of things to do and we don’t want to get overloaded with work. The potential hasn’t been fully used here. There’s still a lot of work to do. You always need to improvise and be flexible. We grow with our clients, so, if our client or developer goes to Bratislava, for example, and asks us to work with them, then we’ll deal with that then.
JŽ: I think the most important thing is to deal with people who know the market. Since we’re located in Prague, we know the market, so we can give good advice to clients regarding Prague. If we decided to go to another city in the Czech Republic, we’d have to conduct a lot of research first before we start to offer these services.

TPP:  How do you think that the Prague luxury residential market will change in the next five to 10 years?

PS: As we focus on the high-end market, we still think that residential real estate in prime locations in Prague is growing and will continue to grow. We still see high demand, and there’s no reason for prices to stagnate. The demand will get higher as Czech buyers are earning more money. It’s really a mark of social status among Czechs to have a nice apartment in the center of Prague.
JŽ: Right now, the high-end market is completely missing residences with services. There’s definitely potential to expand, and obviously, prices will increase, as they have in other European cities.
TPP: If you envision the market shifting in this way, how do you think that your firm is going to address these changes?
PS: I don’t know exactly how it will change our work. I think we’ll grow but nothing specific. We’ll definitely be adding to our range of services in the future … offering marketing and public relations services for our clients. I think we’ll act as an advertising agency for our clients. We work closely with the developers, and we know every detail of a project, so there’s good potential for us to come up with the right strategies, because we’ll understand every aspect.
JŽ: I think it will change the company’s approach, and there will be more stress on a marketing tool and how to sell the product. Right now, the developers themselves sell the product. In the future, they’ll have to come up with new ideas and new trends. We get a lot of inspiration from cities like London. We want to be a one-stop shop and offer all of these services internally. There are many advertising companies, but most of them don’t have much experience with real estate. We want to match and combine these two areas. The position of the agent will be much stronger than it is now.
TPP: What’s the most enjoyable part of your job?
JŽ: The best part for me is, when I meet a developer or client, we develop a level of trust and I can lead the process from beginning to end. When the ownership is transferred, I have a good feeling and I’m very satisfied.
PS: The most enjoyable part is when you come up with some idea, you apply the idea, and you see that it works. I understand the business as a game. You play the game, and, if you play it well, you start to win.
TPP: What’s the most challenging part of your job?
PS: The most challenging part goes along with the previous question and that is to be the best. It’s more than just making the biggest deal with the biggest turnover. It’s very important to do things that are right and feel good.
JŽ: The most challenging part is to build the best residences using our resources: if we can create these residences, and they are functional.
TPP: At the end of the day, what aspect of the business are you most proud of?
PS: I’m not sure if I know the answer, but again, I think we try to think different and do things a little differently. I’m proud of doing things our own way.
JŽ: I like when all the transactions can work without any [complications with] contracts. I like when the process is as simple as possible.
TPP: What are your personal and professional plans for the future of the company?
JŽ: We’d like to start developing and construction. I’d like to focus on interior construction. I’d like us to be more involved in the [renovation] process.
PS: We want to add services for our buyers and developers, such as construction services and design services. We want to handle everything from the very beginning with regard to project management.

Curtis M. Wong can be reached at specialsection@praguepost.com


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