We recently had the privilege of interviewing Toufic (Teddy) Bechara, an adept professional and the Founder and CEO of One By One Real Estate. Teddy’s unique blend of corporate insights, financial modeling, and understanding of economic fluctuations sets him apart in the UAE real estate industry.
Toufic (Teddy) Bechara’s commitment extends beyond traditional real estate services, with a constant focus on customer satisfaction, reflecting his customer-centered approach. In this interview, Teddy shares his insights on changing business priorities, filling market gaps, retaining the top talents in the team, and plans for his business.
Significant Shift In The Journey
We started the interview by asking, “Can you describe a pivotal moment in your entrepreneurial journey that fundamentally changed the trajectory of your business?”
Toufic shared, “One pivotal moment in my entrepreneurial journey within the real estate industry was when I embraced the power of digital marketing and technology to transform the way I conducted business. Recognizing the shift in consumer behavior towards online platforms, I decided to invest significantly in creating a robust online presence and adopting innovative technologies.
Implementing a user-friendly website, leveraging social media, and incorporating virtual financial consulting meetings were game changers. This strategic move not only expanded my reach to a broader audience but also enhanced the overall customer experience. Now that customers could view properties from the comfort of their homes, a new group of prospective buyers and sellers was drawn in by the digital marketing initiatives.
This shift not only increased efficiency in my operations but also fundamentally changed the trajectory of my business. It opened new avenues for growth, enabling me to connect with clients on a global scale and stay ahead in a competitive real estate market.”
Evolving Priorities
In the course of their operations, businesses tend to make changes in priorities. To learn more about the business priorities, we asked Toufic (Teddy) Bechara, “How have your initial visions for the company evolved in response to unforeseen challenges or opportunities?”
He replied, “When I initially envisioned our boutique real estate agency, the primary goal was to establish a distinctive local presence, offering personalized and exceptional real estate services to our community. However, the journey has been dynamic, shaped by both unforeseen challenges and exciting opportunities.
In response to market fluctuations and economic challenges, we didn’t merely react but saw these hurdles as openings for diversification. Understanding the importance of resilience, we expanded our services beyond traditional real estate transactions. We integrated our sister company specializing in interior design. We fit out seamlessly into our offerings, providing clients with a one-stop solution for not only finding the perfect property but also transforming it into their dream space.”
“Furthermore, recognizing the increasing demand for comprehensive property care, we recently added an AC maintenance and cleaning department to our repertoire. This strategic move not only addressed a specific need in the market but also allowed us to provide holistic support to our clients, ensuring that their properties are not only bought or sold but also maintained at the highest standards.
Our initial visions have evolved in response to challenges and opportunities, making us a dynamic boutique agency with a holistic approach to real estate. We’ve seamlessly integrated interior design and AC maintenance services, ensuring that our clients receive comprehensive support throughout their real estate journey, from finding the perfect property to creating and maintaining their ideal living spaces.” He added.
Acing The Trends
We were curious to learn how Toufic (Teddy) Bechara ensures to stay updated with cutting edge technologies and fresh trends. So, we asked, “What strategies do you employ to stay updated with industry trends and emerging technologies?”
Teddy replied, “In the fast-paced real estate industry, staying at the forefront of trends and embracing emerging technologies is paramount to providing exceptional service. As a boutique agency with a holistic approach to real estate, we employ several strategies to ensure we remain informed and innovative, the first being continuous education and training. Our team regularly participates in industry-specific training and educational programs, including workshops, seminars, and certifications.
Active participation in networking events, conferences, and industry trade shows allows us to connect with other professionals, share insights, and gain firsthand knowledge about upcoming trends and technologies. Also, building strategic partnerships and collaborations with other firms in the real estate and related industries provides us with valuable insights. Besides, we also closely monitor market trends, customer preferences, and demographic shifts, helping us anticipate changes and adapt our services accordingly.”
He continued, “Embracing technology is ingrained in our approach. So, we actively seek out and integrate new technologies. Also, subscribing to reputable industry publications, blogs, and online resources keeps us informed about the latest industry news, market analyses, and emerging technologies. It ensures that we are aware of both global and local trends. Lastly, regular internal knowledge-sharing sessions within our team facilitate the exchange of insights and discoveries.
By combining these strategies, we not only stay updated with industry trends and emerging technologies but also position ourselves as a forward-thinking boutique agency that is well-equipped to meet the evolving needs of our clients in the ever-changing real estate landscape.”
Bridging Market Gaps
We further asked, “What unmet need or gap in the market did you identify that led you to start your venture?”
Toufic continued, “We identified a significant gap in financial advice for clients looking to purchase property. Many agencies and agents are primarily focused on meeting sales targets, often neglecting the crucial aspect of providing comprehensive financial guidance. In response to this, we set out to redefine the standard in the industry by prioritizing quality over quantity.
Our commitment to individualized attention and client-centric value is reflected in our name, “One by One.” Instead of pursuing volume-centric approaches, we chose to concentrate on delivering personalized and focused value to each client. By addressing the overlooked need for thorough financial guidance in real estate transactions, we aim to ensure that our clients make informed decisions tailored to their unique financial situations. Through this approach, we strive to set a new standard in the industry, emphasizing quality relationships over transactional volumes.”
Attracting The Top Talents
To succeed as a business in the long term, it is paramount to have the right team. So, we asked, “What strategies have you employed to ensure that your company attracts and also nurtures and grows top talent?”
Toufic shared, “Our approach to attracting, nurturing, and growing top talent mirrors our client-focused philosophy. Like our commitment to personalized service ‘one by one’ for each client, we extend the same principle to our team members.
We invest in professional development, provide mentorship and coaching, offer competitive compensation and benefits, maintain a flexible work environment, and actively recognize and appreciate contributions. Clear career pathways ensure our team members have opportunities for advancement, fostering a culture that values continuous growth and positions us as a preferred destination for industry professionals.”
Balancing The Operations
With the fast-paced digital transformation happening, it is crucial to maintain an efficient balance between the business. To learn more about how Toufic (Teddy) Bechara does the same for his company, we asked, “In the face of rapid industry shifts, how do you decide when to pivot your business strategy versus staying the course?”
He replied, “Our response to rapid industry shifts is dynamic. We assess market trends, technological advancements, and client preferences to decide between pivoting our business strategy or staying the course. Our approach emphasizes agility, responsiveness, and a commitment to staying aligned with our core values and long-term vision, ensuring that our strategies remain both resilient and forward-thinking in the evolving real estate landscape.”
Current Offerings
To learn more about the current services and projects that Toufic (Teddy) Bechara’s company is working on at present, we asked, “What type of services do you provide considering the competitive landscape in this industry?”
“We take pride in being a one-stop shop for all our clients’ real estate needs. Our personalized services encompass expert guidance for property buying and selling, strategic investment and financial consultations, interior design, fit-out services, and maintenance. This comprehensive offering distinguishes us in the competitive landscape, ensuring that our clients receive tailored solutions and a seamless, end-to-end experience for all their real estate requirements.” He replied.
Plans We Asked Toufic (Teddy) Bechara
We ended the interview by asking, “As you look to the future, how are you preparing your business to navigate and thrive amidst uncertainties in the business landscape?”
“As we chart a course for the future at One by One Real Estate, our preparation involves a proactive and adaptive approach to navigate and thrive amidst uncertainties in the business landscape. In the words of Bruce Lee, ‘Empty your mind, be formless, shapeless, like water. You put water into a cup; it becomes the cup. You put water into a bottle; it becomes the bottle. You put it in a teapot; it becomes a teapot.’
We apply this philosophy to our strategy, emphasizing continuous market analysis, staying attuned to emerging trends, and maintaining financial resilience. Our commitment to collaborative and innovative workplace culture, strategic partnerships, and technological integration ensures that, like water, we adapt to the ever-changing business landscape with flexibility, resilience, and the ability to thrive amidst uncertainties.” Toufic concluded.
Follow Toufic (Teddy) Bechara on LinkedIn.
Find One By One Real Estate on LinkedIn & Instagram or visit https://onebyone.ae/.
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