Claire Compton & Martina Cermakova:
The Prague Post: You're running a real estate company in one of the worst markets in recent history. How do you survive, and how have you adapted?Ivo Gavlas: We want to take advantage of the current situation to strengthen our firm. In the past year, it was almost impossible to find a quality broker, and we believe that we will be able to add more quality brokers to the staff. Our company has already existed on this market for 19 years, and this is not the first crisis that we have experienced and lived through. We successfully survived the crisis in the late '90s, and there is no reason why we shouldn't survive this one. We don't have any loans, and we don't need to take any loans out to do our business. At the very inception of our company, we swore to ourselves that we would never buy real estate from clients who come to us with the belief that we will sell their apartment or house for the highest possible price. We also decided that we won't ever go into our own development projects. As a result of this, we are not in the situation that some other real estate firms find themselves in, that bought apartments from clients and relied on the increase of prices and, instead, are faced with today's drops.
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