ESOP Consulting, one of the pioneers of modern office and industrial space brokers

Mr. Petrescu, can you tell us how the ESOP concept was born on the real estate market?

The ESOP Consulting concept was born from our desire to offer high quality real estate consulting services on the Romanian market. Founded in 2002, the company initially focused on the office segment, offering customized solutions for companies looking for office spaces suitable for their needs. Over the years, we have expanded our service portfolio to include other types of property, such as industrial properties and land.

What was the context of the real estate market in 2002?
In 2002, the real estate market in Romania was in a period of transition and rapid development. After the fall of the communist regime in 1989, the market began to open up to private and foreign investment. In the 90s, many properties were returned to their former owners or privatized, which led to a significant increase in real estate transactions.

At that time, the demand for office space and housing was growing, especially in big cities like Bucharest. Foreign investors began to show a growing interest in Romania, attracted by the relatively low prices and the potential for economic growth. The development of infrastructure and urban amenities has also contributed to increasing the attractiveness of the real estate market.

But this period was also marked by challenges, such as the lack of clear regulations and a well-developed legal infrastructure. However, optimism and growth potential were the dominant factors that shaped the real estate market in those years.

What do you think are the most important changes during this time (market in general, customer mindset, competition, etc.)? How has your company adapted to them?
Between 2002 and 2024, the real estate market in Romania underwent major transformations.
1. Office Market: In 2002, demand for office space was growing, but supply was limited. By 2024, the market has matured, with a significant increase in Class A office buildings that offer modern and sustainable amenities.
2. Industrial sector: This sector has seen a major expansion fueled by the growth of e-commerce and logistics. In 2024, there is an increased demand for modern warehouses and logistics centers strategically located to facilitate rapid distribution.
3. Customer Mindset: Customers have become more demanding and better informed. In 2002, the focus was on price and location, but by 2024, sustainability, energy efficiency and wellness facilities have become essential criteria in choosing office space.
4. Competition: Competition in the real estate market has intensified. In 2002, the market was dominated by a few big players, but by 2024, many local and international companies have entered the market, bringing innovations and diversifying the offer.
5. Technology: Technology has played a crucial role in transforming the real estate market. From building automation to using artificial intelligence to manage spaces, technology has improved efficiency and reduced operational costs.
These changes reflect the market's adaptation to new economic and social realities, as well as to the increasingly high expectations of customers.

How did the ESOP Consulting company adapt to these changes?
ESOP Consulting has successfully adapted to the changes in the real estate market in Romania between 2002 and 2024 through a series of strategies and initiatives:
1. Diversification of services: Although we initially focused on the office segment, ESOP has expanded its portfolio to include industrial, logistics and land properties as well. This diversification has enabled us to better respond to the varied demands of our customers.
2. Adoption of technology: The company has implemented advanced technological solutions for the management and presentation of properties such as our web page: www.esop.ro.
3. Flexibility and agility: At ESOP we have maintained an entrepreneurial approach, quickly adapting to market changes and constantly rethinking strategies to remain competitive.
4. International Partnerships: Since 2013, ESOP has affiliated with CORFAC International, a global network of real estate consulting firms. This has enabled us to offer quality services and access an extensive network of resources and expertise.
5. Customer Orientation: At ESOP we put a special emphasis on understanding customer needs and building trusting relationships. The company offers customized solutions and maintains a high level of ethics and professionalism in all its interactionsThrough these measures, ESOP Consulting has been able to adapt and thrive in a dynamic and ever-changing real estate market

What can you tell us about the values of your real estate agency? What sets it apart in the market today?
ESOP Consulting stands out on the Romanian real estate market through a set of solid values that guide all our activities:
1. Humanity: At ESOP we emphasize human relations, understanding the needs and dreams of our clients. We understand real estate brokerage as an activity centered on people, not just buildings.
2. Reciprocity: We believe in mutually beneficial partnerships, believing that this is the only way to build successful long-term business relationships.
3. Ethics: We prioritize integrity and morality in all our dealings, placing mutual trust above immediate financial gain.
4. Agility: We maintain an entrepreneurial approach, quickly adapting to market changes and constantly rethinking strategies to remain competitive.
5. Simplicity: ESOP values efficiency by simplifying processes, thus saving our clients' time, considered the ultimate human resource.
6. Effectiveness: We strive to do things right and prioritize the actions that matter most, ensuring we deliver effective and relevant solutions for our clients.
These values differentiate ESOP Consulting in the market, offering our clients a real estate consulting experience based on trust, professionalism and adaptability.

What are the most important services your company currently provides?
ESOP Consulting offers a wide range of real estate services, adapted to the diverse needs of clients. Here are some of the most important services we currently provide:
1. Consultancy for the rental and sale of office and industrial premises: ESOP helps companies find suitable office or industrial premises, offering customized solutions for relocation, consolidation, renegotiation and renewal of lease contracts.
2. Representation of tenants: We provide representation services for tenants, ensuring that they get the best conditions in the process of renting or purchasing office space or industrial space.
3. Landlord Representation: ESOPs develop marketing and leasing strategies for landlords, helping them attract quality tenants and maximize the value of their properties.
4. Space planning and furnishing solutions: ESOP offers space planning and workplace furnishing solutions, adapted to the specific needs of each client, to create efficient and attractive work environments.
These services reflect ESOP Consulting's commitment to provide complete and customized solutions for our clients, contributing to their success and satisfaction in the real estate market.

What type of customers are your "core" customers?
ESOP Consulting's core clients are diverse and include:
1. Multinational and local companies: ESOP collaborates with companies of all sizes, from start-ups to large corporations, looking for modern and efficient office spaces.
2. Real Estate Investors: We offer consulting services for investors interested in the purchase or development of commercial and industrial properties.
3. Building Owners: We represent landlords in the leasing process, helping them attract quality tenants and maximize the value of their properties.
4. Real Estate Developers: We work with developers to identify land opportunities and manage construction and development projects.

How does your company look in numbers? (business, number of clients, properties in the portfolio, etc.)
In the last three years, ESOP Consulting has registered a positive evolution in numbers, reflecting the company's growth and adaptability on the real estate market in Romania. Here are some relevant facts:
1. Turnover:
o 2023: 4,347,487 RON
o 2022: 4,016,579 RON
o 2021: 3,886,291 RON
2. Properties in the portfolio:
o ESOP Consulting manages a portfolio of over 700 business centers and over 70 class A industrial parks, located in Bucharest and in the main cities of Romania.
These figures demonstrate the stability and success of ESOP Consulting in the real estate market, as well as the company's commitment to providing high-quality services to our clients.

What do your clients (or clients in general) need to know before contacting a real estate agency?
Before contacting a real estate agency for real estate consulting and brokerage services in the office space and industrial space segment, clients should consider the following aspects:
1. Clarification of needs and objectives:
o It is important to have a clear idea of what type of space you are looking for, be it offices or industrial spaces. Think about size, location, budget and required amenities.
2. The available budget:
o Set a realistic budget for buying or renting, including additional costs such as maintenance fees, utilities and any fitting costs.
3. Market research:
o Learn about the current housing market to understand trends and prices. This will help you make informed decisions and negotiate more effectively.
4. Choosing the right agency:
o Choose an experienced and reputable real estate agency, such as ESOP Consulting, which has extensive experience in the transaction of office and industrial space and offers personalized services.
5. Verification of the agency's portfolio:
o Review the agency's portfolio to see the types of properties they have worked with and their success in similar transactions.
6. Consulting and services offered:
o Ensure that the agency offers full consulting services, including space planning, market analysis.
7. Transparency and communication:
o A good agency will communicate openly and transparently, giving you all the information you need to make informed decisions.
8. Flexibility and adaptability:
o The real estate market can be dynamic, so it's important to be flexible and adapt to changes that may occur throughout the search and transaction process.
These aspects will help you navigate more easily in the process of consulting and real estate brokerage and collaborate effectively with the chosen agency.

What is your commission policy?
ESOP Consulting's commission policy may vary depending on the type of service provided and the complexity of the transaction. Estate agencies generally charge commissions for consultancy and brokerage services, which may include:
1. Commission for renting office and industrial spaces:
o Usually, the commission is a percentage of the total value of the rental contract and can vary between 100% and 300% of the rent per month, depending on the type of property and the duration of the contract and is charged only to the owner.
2. Commission for the sale of properties:
o For sales transactions, the commission can be a percentage of the sale price of the property, usually between 2% and 5% depending on the type of property and the value of the transaction.
3. Tenant representation services:
o In the case of tenant representation, the commission can be negotiated depending on the complexity of the services offered and the duration of the rental contract.
4. Owner representation services:
o The commission for representing the owners in the process of renting or selling the premises may also vary depending on the value of the transaction and the services included.

What can you tell us about investing in real estate marketing?
Investments in marketing are essential to the success of real estate agencies, helping to attract customers and increase visibility in the market. Here are some important points:
1. Digital marketing:
o Online platforms such as websites, social networks and email campaigns are important to reach a large audience.
2. Branding and positioning:
o Investments in branding help to create a strong and coherent image in the market. A well-defined branding strategy can differentiate the agency from the competition and build trust among clients.
3. Events and networking:
o Participating in real estate fairs, conferences and other relevant events is an effective way to build relationships and attract new clients. These events provide opportunities for networking and showcasing your property portfolio.
4. Campaign analysis and optimization:
o Monitoring and analyzing the performance of marketing campaigns is essential to understand what is working and what is not. Continuous optimization of marketing strategies can lead to better results and a higher ROI (Return On Investment).

What is the secret of success in your business?
The secret of ESOP Consulting's success lies in several key factors that contributed to the company's growth and stability on the Romanian real estate market:
1. Entrepreneurial spirit:
o ESOP Consulting was founded with an entrepreneurial approach, which continues to be a central pillar of our activity. The company adapts quickly to market changes and constantly innovates to offer optimal solutions to our customers.
2. Solid values:
o We are based on a set of core values such as humanity, reciprocity, ethics, agility, simplicity and effectiveness. These values guide all of ESOP's decisions and actions, helping to build trusting relationships with our customers and partners.
3. Expertise and experience:
o With over 22 years of experience in the real estate market, we have accumulated extensive knowledge and expertise, which allows us to offer high quality services and find customized solutions for each client.
4. Customer orientation:
o At ESOP we place great emphasis on understanding the needs and objectives of our clients. We offer customized solutions and maintain a high level of ethics and professionalism in all our interactions.
These combined elements have contributed to the success and reputation of ESOP Consulting on the real estate market in Romania.

What are the latest trends in the industry? Are certain products or types of services "trending"?

Office spaces
1. Hybrid work and flexibility: The hybrid work model, which combines office work with remote work, continues to be popular. Office spaces are tailored to support this flexibility, with modular work areas and integrated technologies for remote collaboration.
2. Class A buildings: Demand for Class A office buildings, which offer modern and sustainable facilities, is increasing. These buildings are preferred due to their superior quality and wellness and health facilities.
3. Sustainability and ESG: Environmental, social and governance (ESG) issues are prioritized. New buildings are designed to be energy efficient and offer wellness facilities, contributing to a healthy working environment.

Industrial premises
1. Sustainability and ESG: Similar to office space, sustainability is a major trend in the industrial sector. Companies are focusing on reducing their carbon footprint and implementing sustainable practices in their supply chains.
2. Automation and technology: Using technology to automate processes and improve operational efficiency is essential. Smart warehouses and modern logistics centers are equipped with advanced inventory management and workflow monitoring systems.
3. Strategic location: The demand for strategically located industrial premises, close to transport hubs and distribution centres, is increasing. This ensures fast and efficient distribution of goods.
These trends reflect the industry's adaptation to new economic and social realities, as well as increasingly high customer expectations.

What recommendations would you have, as a specialist in the real estate market, for the owners of buildings with spaces for rent?

Recommendations for owners of buildings with premises for rent
1. Improvement of facilities: Ensure that the rental premises are modern and well maintained. Invest in attractive amenities such as efficient air conditioning systems, LED lighting and quality IT infrastructure.
2. Sustainability and energy efficiency: Implement energy efficiency and sustainability measures such as solar panels, recycling systems and the use of green materials. These not only reduce operational costs, but are also attractive to tenants who emphasize social and environmental responsibility.
3. The relationship with tenants: Cultivate a good relationship with tenants through open communication and prompt resolution of issues. A satisfied tenant is more likely to stay long-term and recommend the space to other potential tenants.
4. Market Analysis: Keep abreast of market trends and adjust your strategy according to current requirements. Monitor the competition and identify opportunities to improve your offering.

What about for companies that are looking for spaces to rent, what recommendations would you have?
Recommendations for companies looking for office space
1. Definition of needs:  Clearly identify the type of space required, including size, location and desired amenities. Consider the number of employees, type of activities and collaboration needs.
2. Establishing a realistic budget:  Calculate a budget that includes rent, utilities, maintenance and any fitting costs.
3. Modern facilities:  Opt for buildings that offer modern amenities such as conference rooms, breakout areas and quality IT infrastructure to improve employee productivity and satisfaction.
4. Accessibility and location:  Ensure that the space is easily accessible for employees and customers, given its proximity to public transport and main thoroughfares.

Recommendations for companies looking for industrial premises
1. Strategic positioning:  Choose industrial premises located close to important transport routes such as highways, national roads or freight stations to facilitate fast logistics and distribution.
2. Adequate facilities and equipment:  Check that the space provides suitable facilities for the activity being carried out, such as ceiling height, floor load capacity and access for large vehicles.
3. Sustainability:  Opt for spaces that implement energy efficiency and sustainability measures, thereby reducing operational costs and attracting business partners concerned with social and environmental responsibility.
4. Flexibility in use:  Choose spaces that allow rapid adaptation to changes in production or storage requirements, thus providing a major advantage in a dynamic market.
5. Safety and Security:  Ensure that the space provides adequate safety measures and ISU Security, including surveillance systems, access control and fire protection.
These recommendations can help you find the right space for your company's needs, ensuring an efficient and productive work environment.

How have you planned the next decade of your company's business in the local market?
Planning the next decade for ESOP Consulting in the local market will take into account several key strategic directions to ensure continued growth and adaptability.
1. Diversification of the service portfolio
• Expansion of services: We continue to expand the services offered, including consultancy for office, industrial and logistics premises, land transactions and market studies.
• Service innovation: Introducing new services, such as sustainability and energy efficiency consulting, to meet growing customer demands for green solutions.
2. Investments in technology
• Digitization: Implementing advanced technology solutions such as virtual tours, 3D presentations and online property management platforms to improve customer experience and operational efficiency.
• Automation: Using artificial intelligence and automation to optimize internal processes and provide more accurate and faster market analysis.
3. Sustainability and social responsibility
• Green projects: Promoting and developing sustainable real estate projects that comply with environmental standards and contribute to reducing the carbon footprint.
• Social responsibility: Involvement in community projects and social responsibility initiatives to build a strong reputation and attract customers who value these aspects.
4. Geographic expansion
• Expansion into new markets: Exploring opportunities to expand into other large cities in Romania to diversify the customer base and increase revenues.
• International Partnerships: Strengthening international partnerships, such as affiliation with CORFAC International, to access new resources and global expertise.
5. Team development
• Training and professional development: Continuous investment in training and professional development of employees to ensure a high level of competence and to attract new talent.
• Organizational culture: Promoting an organizational culture based on strong values such as ethics, reciprocity and agility to maintain a positive and motivating work environment.
6. Marketing and branding
• Integrated Marketing Strategies: Developing integrated marketing strategies that combine traditional and digital channels to increase visibility and attract new customers.
• Strong branding: Consolidation of the ESOP Consulting brand as a leader on the real estate market in Romania, through PR and marketing campaigns that emphasize the company's values and achievements.
By implementing these strategies, ESOP Consulting can continue to grow and adapt to market changes, thus ensuring our long-term success.