Sunday 15 April 2012

Huttons's Approach to Projects Sales vs Everyone Else

Dear Agents, I like to ask a question about new lauch private project. For selling of this new launch project. Is it only full time agent can sell the unit. Whereas, part time agent are not capable of selling this new launch unit.? If yes, why is it so? If no, why is it so? Appreciate if you can share your view with regards to my enquiry. Thanks for reading this enquiry. regards

Posted by Johnny - Apr 12, 2012 -Viewed 156 times

Hi Johnny,

Thank you for your query into the world of "Projects". First and foremost, every real estate company has their own approach to Projects which you must be very clear with before you take them on, most likely, they will fall into the following categories:

A) Core Team ONLYIn these approaches, you MUST firstly be in the core team to present and close those projects.

B) "Special People only"
In these arrangements, only the so-called "elite" of the real estate company are allowed to do project sales, hence if you are not within this "group", you will have to co-broke with them as the only way to close a unit in that project.

The most flexible and results orientated approach is for real estate companies that allow ALL their sales persons to sell ALL Projects within their company umbrella irregardless of them being core team or not, AND have an equal chance to sell without favoritism to any so called "elite" group.

Within the above, you might see how you have come to believe that being a part-time agent, you might not be "capable" to sell projects. Which is totally not the case if you are in a company that allow you to do the former.

Huttons Asia Pte Ltd is one such a company where all associates are allowed to sell all projects under the company umbrella. In the world of projects, ONLY Huttons is able to lay claim to the title that we alone are able to sell out whole projects on our preview day alone, no other Real Estate Company has come close.

In the domain of part-time vs full-time, the decision for you to make between the 2 really is about the results that you create for yourself.

In my case, I started "part-time" too, on my third day at work, I closed a deal worth 33% of my normal full year pay. Hence, the decision was very clear cut for me that it was a waste of my time and energy NOT pursuing real estate as a full time career.

Do hope this helps shed some light into your query, do let me know if there are other areas I can assist you in.

Best Regards,

Mervin Tang

Marketing Manager
CLMD Lead Trainer, Project Sales

CEA Reg No. : R030951Z
Huttons Asia Pte Ltd
Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg
Discussions: http://sg-realestate-sg.blogspot.com/

Saturday 7 April 2012

Division Training Directive - 2012

Hi ALL,

As part of taking the division forward in 2012, we the team leaders within the division have conceptualised a formal structure to take on a larger influx of new associates into the division. 

All incoming associates are grouped together, and then trained at a batch level.  Having the associates trained as a group builds a strong bonding within the team, such that it makes for good networking, and sharing for information and leads later on in their careers:

New Associate Training Directive

Dear Colleagues,
As part of CLMD’s reaches towards new heights, each level of success attracts its own challenges.  Most pressing of which now is the high rate of new joiners coming into the Division. 

Building a structured training program is part of a natural progression in the Division’s growth, given that each of the team leaders has only so much time to train and guide incoming new associates, 2012 sees the establishment of a new training system in which all the 4 leading team leaders take turns to train and groom the new associates in a structured environment.
The new training system is modular, and designed specifically to generate interaction.  Gone are the days whereby the trainers teach and download information to the new associates.  This training module is interaction based.  Hence, each idea and solution that is generated by an associate is mapped over the whole class.  The end outcome is that each class participant takes back multiple perspectives on a case that they would otherwise not have considered if they were to tackle it alone.
The new training approach is such that the team leaders train from their respective areas of strength, namely in the following sub structures:

Projects:  Mervin Tang
Resale:  KL Koo
HDB:  Jason Chua
Commercial/Industrial:  Andy Tan
This structure covers just about 99% of the entire real estate universe, with the objective of having a point of reference for all incoming associates whom they can turn to for direction and advice.  Within which, each of the team leaders conduct training classes cantered on their respective areas of strength, incoming new associates will then be cycled through each of the 4 domains, with each domain covering approximately 2-6 weeks of training.
A new associate’s entry point will be in the domain of PROJECTS.  Within the Real Estate Universe, a typical transaction would consist of 2 legs to an equation; involve sourcing for a “seller”, and then sourcing for a “buyer”.  PROJECTS very much simplify this process by having an array of ready products for an incoming agent to sell, hence, reducing the workload by 50%.  As with the case with Huttons, there are many ongoing PROJECTS at any one point in time, hence, new associates who come on board will have a ready product catalogue to begin marketing work.
In each training domain, the objective for the Team Leaders is to impart as much knowledge and experience to the new associates at the level that they can absorb and utilise, and ultimately, to impact their money making ability.  It must also be the emphasis that each training domain alone can be taught by the respective trainers for a full year to impart the full experience that they have, but working within strict time limits, to impart what is necessary, given the new associate’s requirements, to first and foremost, MAKE THEM BIG MONEY!!!
The following would seek to outline a structured lesson plan for a new associate to work themselves through:
PROJECTS:  Lead Trainer, Mervin Tang
1.               Introductions to Huttons Projects
Huttons Asia Pte Ltd is undisputedly the industry leader in the domain of new launch projects.  Fundamental to understand this strength is to be immersed in the company culture that is unique to Huttons that would not be found elsewhere in the Real Estate Industry.
·        Two critical components for a new associate to understand are SPEED, and a SUCCESS DRIVEN MINDSET.
·        Secondary but no less critical is FOCUS and the ability to SUSTAIN it to achieve closing the deal!

2.                 Sequencing and Scripting
The objective is to attain fluency in a presentation, as well as to derive a structured learning process. 
·        In the beginning of a new associate’s career, it can take up to 12 hours to completely learn and be fluent in presenting a new launch project.  The end objective is to shorten this learning process to 5-10 minutes. 
·        This is done by having strict sequencing and scripting whereby ALL presentations have a fixed presentation format, with only adjustments made for specific information that is project specific.  That way, by stepping into any new project environment, the associate is conditioned to pick up the information that would fill up the “blanks” in the script, hence, saving time in the learning process.
·        Breaking down the scripts into segments.  This allows for flexibility in the presentation whereby the single script is now a deck of cards that the selling agent can use singly as and when they are needed.

3.               Preview
Objective:  To understand and to personally experience a Huttons VVIP Launch.
·        VVIP Preview is unique to Huttons whereby 50% or more of a project routinely sell out on the preview day.  Sales technique for showflat closing is very different from
·        Fundamental to this is in understanding the emotional state of the buyers as they come into the buying process.  Being able to manage the emotional expectations/states that the buyer is in will better keep the buyer in the right frame of mind to make the buying decision when the time comes. 
4.              Scripting Part 2, handling “Areas of Concern”
The key to an efficient and effective plan lies in ANTICIPATION.  As in a game of chess, the player who can best predict and plan for the possible courses of action that an opponent can make, will be able to plan countermoves way in advance, thus putting them in a position to predict the outcome.
·        Like human beings of which there are only at most 15 distinct personality types, there can ONLY be so many areas of concern that a buyer can have.
·        Being able to predict these areas of concern and addressing them without the buyer having to bring them up, will put the presenter in a good position relative to presenters who do not raise them.
·        The art then would be to incorporate all of the above into the present scripts to have these angles all covered.

5.       System Building for PROSPECTING

·        A common worry that all new associates have on coming into the industry is that on leads generation.
·        Here the desired outcome is a simple one.  “How to keep my phone ringing non-stop?”  The idea is to build a system that constantly generates leads.
·        System in this sense is defined as, “One time effort, long term results, minimal maintenance”.

6.       CLOSING THE DEAL

The last module for this is the key to understanding and reverse engineering the sales approach in ANY deal, be it resale or projects.  Collecting cheques is easy by this time; the art really is in closing and making the deals happen.
·        The key is in understanding the sales process, and then anticipating likely scenarios that might play out during the preview phase.  For each anticipated scenario, options can be thought through and prepared for, hence cutting down on time lags and allows for quicker response times.
·        This is the difference between a successful closing, and just collecting back the documents
·        As a lead into RESALE, we also touch on the merits of having a backyard GTA as a “home base” in addition to running full-fledged on the New Launch Projects arena. 
7.       New Launch GTA
As with “home base” GTA, the idea is to establish and entrench a sense of familiarity in the new associates such that they achieve a level of understanding on the projects within the GTA that use repeated CMA (Comparative Market Analysis) The end result is to achieve a home court advantage that one would have if operating a “home base" GTA.
·        There are 3 predominant clusters within Singapore that have repeated launches again and again.  Key to this is to understand the history and the economic fundamentals that underpin this urban renewal.
·        To understand the thought process that goes into designing business systems that support the project GTA areas is key to business success in this domain.
Diversification and the ability to seize ALL opportunities
As previously discussed, success in real estate is predominantly skills driven.  Skills give access to the different classes of real estate available.  The real estate industry is cyclical in nature, hence a down period in a certain segment might correspond with a boom time in another.  What we in CLMD therefore seek to do is to cover a broad spectrum on skills sets and understanding such that opportunities that arise may be quickly grasped and capitalised upon.  Seeking the necessary knowledge and skills when the opportunity presents itself is clearly to late.

Best Regards,

Mervin Tang
Marketing Manager
Division Lead Trainer, Project Sales
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg

Friday 6 April 2012

Focus and Specialisation Pays Off


The above attached interview was done by myself with The Edge Magazine on the 3 properties of The
Bayshore, Costa Del Sol, and Bayshore Park. 
The crux of it was to get more details into the anomaly that is called East Coast Road Real Estate.  For the record, all the best sea facing/seaview properties all along East Coast Road are 99 year, leasehold properties.  As with the common held theory that 99 year properties are SUPPOSED to depreciate over time, these properties seem to buck the trend.  Hence the interview. 
Why ask me?
Well, as with my whole real estate team, I strongly encourage specialisation.  Given the current climate where CEA discourages the use of the term "specialist", my team and I have transacted 14 units on Bayshore Road in the past 12 months, at least another 10 or so rentals, if we are not "specialists", I really wonder what we should call ourselves.
Anyway, long story aside, the interview came about as the interviewer was looking for someone who had the pulse on the ground, and so that explains the interview as above.  Although they did spell my name wrong on it.
Nonetheless, focus and specialisation has its merits. There is a big difference transacting 14 units all over Singapore, vs transacting 14 units in JUST 1 condominium in Singapore in 12 months.  Nothing is more convincing than a strong track record which I impress upon all my team mates and associates to work towards.
Good Hunting!
Best Regards,

Mervin Tang
Marketing Manager
Division Lead Trainer, Project Sales
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg

An Entry Point into Commercial or Residential Properties?

I will like to know whether it is hard for a new agent to go into commercial/industrial area. I have an interest in this market as I have technical experience in this area. Any advice or suggestion?
Posted by JG - Apr 5, 2012 -Viewed 43 times

Answers (7)

Posted Apr 6, 2012

Hello JG,

Thank you for your interest in the commercial/industrial segments of the real estate market.

This is a very good segment to look at currently given the current real estate market. The most recent cooling measures by the government targeting the private residential markets have inadvertently pushed investors into either:

A) New launch private residential
or
B) Commercial/industrial new and resale markets

Given that you have technical knowledge in this field, it would not be difficult to enter this area. Real Estate is primarily a knowledge driven industry.

There are no real barriers to entry in this business other than those imposed by CEA, which make knowledge here key! Having technical knowledge gives you an advantage that a similar agent will not have hence making it that much easier for you to seal the deal.

What you will need to do again that I always stress is to work with a mentor who can quickly grasp where you are at, and then build you towards achieving your desired outcome.

Having said that, there are general differences between the residential and commercial/industrial sectors that you need to be aware of:

1. Generally lower volume
This industry as compared to residential, will be marked by significantly lower turn-over in terms of leases and sales. Hence although the payouts are large, they will be fewer and further in between.

2. Guidelines and restrictions.
So far, the usage in suburban commercial and industrial zones have been not as strictly enforced, leading to spaces being used for areas that they are not zoned for, hence there might be a shake up if the authorities enforce this.

Hope this sheds some light on your question.

Within Huttons, our division is well diversified between residential and commercial properties, which allows our associates to easily shift focus depending on the current investment climate. Do contact me if you are keen to have a closer look at our business approach.

Best Regards,

Mervin Tang

Marketing Manager
Division Lead Trainer, Project Sales
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd
Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg
Discussions: http://sg-realestate-sg.blogspot.com/

A Property Career Life Cycle


Meet Casey Lim, big boss for CLMD. (During one of our sit in discussions)

As with ups and downs in any business cycle, the property market as a whole follows the typical roller coaster rides as well.  However, due to the many different sub-sets within the industry, for example, commercial, industrial, residential, rentals etc, these cycles typically never move together at the same time.  Hence there will always be one of them that is responding well irregardless of the current state of the cycle.  The trick here is to be able to adapt to it.

Following on cycles, real estate careers also follow cycles as well.  Hence, this derives a short to mid term time horizon that characterises a real estate career. 

In all industries, success creates its own problems.  In this case, they will ALWAYS be good ones.  For example, if you are doing well, you will have too many clients.  On top of that, random/friends people might start approaching you and saying things like,

"Hey! you are doing well, could you teach me how you do that?"

Hence moving into management really is not so much of a personal choice, but more of a necessity given that you as a single entity now cannot manage.  (As you should have realised by now, MANY choices are not yours to make, "Willingly" that is..) Within management, there also comes a threshold point where time and effort in recruitment makes sense, this is where your business in real estate really takes off.  The idea is to clone yourself such that you have up to 12 direct submanagers, who have your capabilities or more!  Thereafter, your team takes a life of its own and really starts growing out of and beyond your control.  Of course, the monetary rewards grow just the same.

Time wise, this would take a quick learner/thinker/producer/ambitious/righteous individual between 3-5 years to achieve.  As in all trades, the key really is in SPEED of growing, and not total time spent.  The idea is to achieve what industry veterens do in 10years, in perhaps 3.  You get the idea.

How does this mirror the real estate market curve?

The key lies in understanding that as will all industries, INVESTMENTS are the key.  Unlike capital intensive industries, the investments that I refer to here are leveraging, time, and skills. 

Real estate is a people and skill based industry.  It is not a means to an ends, but a stepping stone where one hones skills, gets paid good money, and ultimately attracts a band of like-minded individuals together to build *SOMETHING* (Defined as what your life's greater purpose is).

Thus time-wise, what this looks like is intensivly building up one's own skills and capabilities in the first 1-2 years, thereafter, attracting and recruiting a team of like minded individuals, then training and grooming them over another 1-2 years, and thereafter, unleashing them on the market.  The BOOM in Real Estate is always quick and sudden.  Having this team in the right place and the right time is where fortunes are made.

Thereafter, sit back and watch this behemoth take on a life of its own.  Of course when you get bored, either do it all over again and build a parallel system, or head off and save the world. 

Your Choice!

Best Regards,

Mervin Tang
Marketing Manager
Division Lead Trainer, Project Sales
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg

The Best Way To Learn About Real Estate

I would like to explore the possibility of a sales career in property. I have been working as a recruiter for insurance agents for the last 8 years. I would like to find out more about the 'course/exam' that I need to take so that I can decide if I really want to commit to this career. Where can I find out more about the course? I want to join a reputable real estate company but most importantly I want to work with a leader with proven track record and is dedicated to teaching and training


Posted by Diane - Mar 29, 2012 -Viewed 105 times

Posted Apr 5, 2012



Hello Diane,

Thank you for your interest in considering Real Estate as a potential career path.


Having spent 8 years in the insurance industry, you would well be familiar with the merits of owning your own franchise/business.


Like insurance, real estate is one of the 3 major industries that have no income cap AND residual income from over-riding, namely:

1. MLM
2. Insurance
3. Real Estate

Of the 3, Real Estate offers the path to eventually become a property developer while the other 2 do not. Furthermore, Real Estate is the only industry of the 3 that buyers actively call you, and you do not have to make calls to them.


For the part about learning more about the course as the linchpin to making your career switch decision, I would recommend that you do a mini-internship with a good mentor in the industry to better learn the trade and life-style (build your business around your lifestyle, and not the other way around), to allow a better made decision.



Every mentor has their own training approach, philosophy, and values. It would be wise for you to pick one that shares the same as yourself, as well as have a clear expectations of each other. Furthermore, different agencies have different cultures, hence these are areas that you should pay attention to when you speak with different agency leaders.



The real estate course is a bad representative of life and possibilities within the industry as the lessons contained pertain mostly to the laws governing the trade, and not about making big money.



Hope this sheds some light on your further considerations.


Best Regards,


Mervin Tang

Marketing Manager

Division Lead Trainer, Project Sales

CEA Reg No. : R030951Z

Huttons Asia Pte Ltd

Mobile: (65) 9184 0208

Thursday 5 April 2012

Your Corporate Photo Is Your Personal Brand!

Where can I get professional agent photograph done

Posted by Alison Hau - Apr 3, 2012 -Viewed 88 times
Posted Apr 5, 2012
Hello Alison,

Thank you for your query on getting a professional portrait done.

Getting a professional photographer/studio to do your corporate photo is a very important investment as this will either make you big profits down the road, OR, lead to a confusing marketing experience.

Let me explain, in all marketing, image, is vital to your branding. In this case, the key to your brand will be your corporate photo.

- What will your business statement be?
- What would you like your clients to remember you for?
- What would the difference between you and your competition be?

The above are some of the fundamental questions to ponder and answer when you ultimately derive your personal branding.

Holding those thoughts in your mind through out the photoshoot, and ultimately selecting the photo that best represents the answers to the above WILL, define you as your own personal brand.

My team places a high emphasis on getting the corporate image done well, as the key to your branding, it will appear everwhere, and be the flagship for who you are as a real estate agent!

Good luck!

Best Regards,

Mervin Tang

Marketing Manager

Division Lead Trainer, Project Sales

CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg
Discussions: http://sg-realestate-sg.blogspot.com/

Wednesday 4 April 2012

AdHoc Training Invitation (Projects GTA) - 10th April

There are classroom trainings, and there are field trips.  Having a look and feel, sights and sounds of a location are paramount in better understanding a project's location. 

Hence, here's a sampler of the field training trips that are absent from ALL site briefings.
Please register interest accordingly!
Dear Colleagues,

At the close of Cycle 1's series on Project training, we touched on resale GTA in your backyards to capitalize on "home court advantage", the same can be done for projects as well, learn the key to mass market closing!
In this ADHOC workshop session, we will walk the ground on a live Huttons GTA in progress, with a live commentry on the history of ALL the successful sell-out launches, and the upcoming potential for the GTA area.
Meeting location: Old Airport Road, Food Center Open Air Carpark
Date: 10th April
Time: 2-5pm (unless popular demand extends to 7pm again!)
Attire: Dress for plenty of walking. Hats, Sunglasses, Umbrellas encouraged.
To expect: PLENTY of walking
To Bring:
A) Writing Material with CLIPBOARD
B) Bring along iPad / internet capable device which can be used for site presentation
Course leader: Mervin Tang

RSVP with Amanda @ 97514479

--
Best Regards,

Mervin Tang
Marketing Manager
Division Lead Trainer, Project Sales
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://www.SGrealestate.sg
Sales Enquiry: mervintang@SGrealestate.sg

VERY RARE FREEHOLD Conservation House in Prime Location on Emerald Hill Singapore

  VERY RARE FREEHOLD Conservation House in Prime Location on Emerald Hill Singapore   Bearing heritage charm combined with modern amenit...