Real Estate
Real Estate
The
Analytics of Real Estate
Real estate is a very competitive area
and it is no surprise that companies
in this field are striving to
achieve excellence...
R
eal estate is a very competitive
industry and it is no surprise that
companies in this field are striving to
achieve excellence. BusinessGrenada met with
the Managing Director and co-owner of Terra
Caribbean, Mrs. Maria La Touche, to discuss
the market.
Originally formed as the real estate division of
the elite audit company Ernst & Young (E&Y),
which was the fourth largest audit company in
the world when it was required to separate its
divisions and focus on being an auditor, Terra
Caribbean began operating from Barbados
and Trinidad. The Grenada franchise was first
opened in late 2003 and Maria was invited to
move from Barbados to run the Grenada office
in early 2007.
Specializing in valuations, Maria soon brought
her skills to the foreground. Trained as an
accountant, by E&Y, she soon discovered
that the real estate business was more suited
to her personality. To apply the methodology
for professional valuations she realized a level
of precision was required. Terra began to
compile its own database of statistics which
was felt to be paramount to the success of
Terra Grenada. ‘Knowledge is very important
to us as a firm,’ she says, and points out that
the branch tagline is: ‘We know Grenada’.
‘You need to know what is happening in the
market if you’re going to advise your clients,’
Maria says. Consequently, the Terra team
spends a significant amount of time collecting
data concerning real estate sales transactions
and collating it in a useable format. This allows
Terra to provide evidence-based analysis to
confidently advise its clients about transaction
patterns, demand and pricing.
Furthermore, valuations in Grenada are
especially difficult because there are no
template-style buildings: ‘Each house
is different, built on different sized lots
and by different architects’. This makes
valuations more subjective so although ‘sales
comparables are the strongest evidence to
tell someone the likely value of a property’
Maria La Touche
Managing Director and Co-owner
PHOTO: TONY MCQUILKIN
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www.businessgrenada.com
www.businessgrenada.com
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