Living with Purpose
At times, nature orchestrates events in such a manner that one might be inclined to ponder conspiracy theories, numerology, and higher powers. It is as if a person has lived many lives and, at the very outset of their final reincarnation, is granted the ability to perceive what most of us overlook. Perhaps an interview with Konstantin Lyutovich, the founder of Livrichy Real Estate, offers readers a chance to understand the reasons behind success and discover a unique gift within themselves.
Livrichy Real Estate was established a mere year and a half ago, but I have been living and working in Dubai for 14 years. Previously, I managed a major company in Jebel Ali that dealt with general trading, where I catered to numerous VIP clients. Gradually, I realised that this experience could serve as an excellent foundation for a real estate business, since our clients frequently sought assistance with purchasing property. Although we did not operate directly in this segment, we always endeavoured to support them by providing financial consultations and payment assistance. When the volume of such requests became too large, we decided to open our own real estate agency. Our expertise in dealing with VIP clients and deep understanding of the market allowed us to quickly secure leading positions. This venture has now become an essential part of my personal brand, and I plan to actively develop it in the future.
I pondered for a long time which segment of the real estate market would be best to enter — luxury or the mass market. Ultimately, I decided not to focus on just one but to strive to create a balanced company that operates in both the premium and high-quality middle-class property sectors. Additionally, I wanted to assemble a team rather than chase after many agents.
The most challenging aspect was finding the right people who share your philosophy and vision. I understood that without an outstanding team, nothing would come to fruition. Therefore, I approached the recruitment process very meticulously, striving to attract the best agents from the market while maintaining good relations with other companies. In the end, I managed to gather an excellent team — Russian-speaking individuals from Ukraine, Kazakhstan, Uzbekistan, and Russia. These are people who understand each other implicitly and can interact effectively, with experience working in the Emirates market. Once again, I approached this matter carefully because people are everything. Ultimately, I succeeded in assembling a truly strong and professional team. Our agents, managers, and secondary market specialists are all top-notch in their field. This yields excellent results. Even during the challenging summer period, we achieved fanatastic sales.
Our strategy is not to chase quantity but to focus on quality. We do not aspire to become a massive company with hundreds of agents. The maximum we aim for is a team of 150 people, but all top-tier professionals. I believe it is better to have 100-150 genuinely strong individuals than 500-600 where only 70-80 are truly good, and the rest are novices. After all, training and adapting young specialists consumes a lot of resources. Therefore, we prefer to hire more experienced staff who already have their client base.
Another pivotal moment was the establishment of an office in a prime location. I believe that a comfortable workspace with the right energy is incredibly important. Therefore, we created an office that exudes homely comfort while also being prestigious and representative. Significant investment went into our office in a top-tier location in Dubai to make it as comfortable as possible. After all, people enjoy working in beautiful and cosy environments. This investment has paid off handsomely, helping us attract both clients and agents.
In a comfortable setting, business always thrives — this is where the right energy is born, where individuals can relax and feel compelled to affirm their status. As a lifelong perfectionist, I pay attention to every detail. Beyond ensuring everything is aesthetically pleasing and magnificent, I always have the best coffee and tea available. Having lived in China for two and a half years, I ensure that everything necessary for an authentic tea ceremony is on hand. Throughout the day, I might invite any agent, partner, employee, or client to my office for a meditative conversation. Simultaneously, I conduct the tea ceremony, explaining and demonstrating as we go. This is part of our corporate culture. I strive to create an atmosphere where people find it comfortable and interesting to work. The tea ceremony is a process that allows for calm communication and the discussion of important matters. It helps to unite the team. Collectively, this energy — if we speak in psychological terms — is the result of me dedicating 100% of my time to the project and fully investing in this endeavour.
Additionally, I rely on my connections and reputation. Over 14 years of working in Dubai, I have built extensive contacts and trusting relationships with key market players. Therefore, it is easier for us to attract clients and close deals.
It is crucial to know and leverage the main advantages and disadvantages of doing business in Dubai. Having lived in other countries before, I have points of comparison. The most significant advantage is safety. Dubai is arguably the safest place in the world. You don’t have to worry about unexpected questions or demands. There are clear rules of the game that apply equally to everyone. An interesting discovery is that in Dubai, you can truly achieve a lot, even if you are an ordinary person without connections or substantial capital. Here, you can mould yourself and become successful if you are hardworking, disciplined, and professional.
Another major advantage is the transparency of conducting business. You always know how things work and what responsibilities you bear. There is no grey area often found in CIS countries.
The third advantage is an optimal tax regime. Yes, VAT and corporate tax have been introduced , but it remains far more favourable than in most other countries.
Now, about the disadvantages. Perhaps the main one is the seasonality of business. The summer months, especially June to August, are always challenging. In such heat, few people want to come to Dubai and deal with real estate.
Another drawback is the high cost of doing business. Everything — from office rent to employee salaries — costs significantly more than in other countries. Therefore, it is essential to meticulously calculate all expenses.
The third drawback is the challenging interaction with employees of various nationalities. The key is to find the right approach for everyone. Communicating with people from different cultures can present certain difficulties, but with experience and understanding, these differences become more of an advantage. Initially, it was not easy to find common ground, for instance, with Indians and Pakistanis. However, over the years of working in the Emirates, I have learned to better understand their mentality and find the right approach. Now, I perceive these cultural differences more as a plus than a minus, as diversity makes the business environment more interesting and multifaceted. It is important to be flexible, patient, and strive for mutual understanding to interact most effectively with partners and clients from different countries. Ultimately, my personal discovery is how well people of different nationalities and cultures can coexist in Dubai. It is an amazing country where, with the right approach, representatives of various mentalities can comfortably coexist. I have great respect for the government of the Emirates for managing to create such a harmonious environment. After all, it seems like such a small state, yet people from all over the world live and work here. And there are clear rules of the game that apply equally to everyone.
The biggest problem for many entrepreneurs is the lack of strategic planning. They simply start a business because everyone else is doing it but do not think about how they will be unique or how they will develop. They earn some money somewhere, come here — Dubai, great, I’m going to do business here now. And you realise that the person is completely unprepared.
A successful entrepreneur is one who clearly understands where he is going, what goals he sets for himself, and how he will achieve them. He must have a well-thought-out development strategy for at least the next five years. Many newcomers arrive in Dubai with large sums of money but spend it on expensive real estate and cars, then cannot properly develop their business. One must have resources — be prepared for high costs and seasonal downturns.
Another important aspect is speed. I see that many companies in the market are very inert. They take a long time to think before doing anything. We, on the other hand, strive to act quickly and decisively. After all, in this business, it is important not to miss the moment. Dubai is a unique land of opportunities. Here, you can achieve much more than in other places if you act correctly. The ability to make instant decisions is a key skill. Dubai has a very competitive market, and those who take too long to decide miss opportunities. However, here a person with a clear vision, ready to take risks and invest, who can make quick decisions and gather a strong team around them, will achieve everything. If all these qualities are present, one can achieve great success even in such a competitive place as Dubai.
Unlike many CIS countries where success often depends on having 'connections' and influential contacts, in Dubai, everything hinges on your personal qualities and competencies. This presents tremendous opportunities for growth. That's why I always tell my employees that they haven't come here for money, but for the opportunity to earn a significant amount of money. Indeed, one can achieve incredible results here if you do things the right way.
Opportunities are always there; you just need to see them. In 2005, I left my job and started working for myself. I discovered within me a natural inner drive to move forward at a rapid pace. I have always been motivated by the possibility of improving a certain field. Here's an excellent industry, but it has its shortcomings — I have the ability to see that. Whether I arrive in Italy, Singapore, Asia, South or North America — it doesn't matter. I walk down the street, and my mind works like this: there's something missing here. I write to my Viennese friends: "Guys, do this immediately. It will really take off." In this way, I have often sparked the creation of new businesses.
Moreover, I always say that you must never stop dreaming. Dreams are what give us the energy and inspiration to move forward. Even if you've already achieved something, you need to set new, even more ambitious goals for yourself. As I like to say: "If you've stopped dreaming, you've stopped living."
A person who doesn't see prospects ahead of them will sooner or later lose their sense of purpose and interest in life. Successful people are always on the move, always setting new tasks. Therefore, "The purpose of life is to live with purpose" is a credo that I follow myself and try to instill in everyone around me.
