I would like to join a real estate company that can register me as a licensed agent. Q1: In short, is there any company that do not expect quota yearly? Q2: My bf had a vast network of people that potentially buyer of condos and private estate. if there is an opportunity I can rep the buyer friend to close the transaction. assume that the selling price is $2M. What will be commission that I can entitle?
Posted by Queenie - Aug 21, 2012 - Viewed 152 timesHello Queenie,
Good job on taking a step toward this exciting new business venture!
Let me address your query in 2 parts.
Firstly: On Sales Quota
No agency has a sales quota. That is set by the individual teams. In all sales environments, all sales teams are given "targets" and then agency leaders do RaRa shows and motivate and motivate their sales agents to reach the desired numbers. However it is not pointed to, sales quotas/targets always exist in a sales environment.
On this, let me propose a safe guard AND an alternative.
A) In this case, "the safeguard",
We all have heard the story of how the pursuit of $$ for $$'s sake corrupts, then the wildly successful agent thereafter spirals down thereafter.
In this case, in our team - CLMD Division in Huttons Asia Pte Ltd, we have a common practice of keeping in mind,
"What is this all for?",
"What is the end game that we want to see ourselves get to?"
These act like a ship's compass in a storm. Many a time we will sail through choopy seas and stormy winds, but always we will know our true path, and not get lost.
This is the root of all INSPIRATION.
B) The alternative: "We have no target"
For us, the leader's main job is to remind our associates to take a break. The difference between INSPIRATION and MOTIVATION?
Simple.. Motivation is about pushing and pushing. Once you stop, they stop running.
What then is Inspiration? It is about finding the one true thing that is close to the heart that one will fight their way through fire to achieve, and then set them on their path.
On the second part of your question, the answer is not so straight forward.
In this, you have asked about serving buyers to make purchases.
In this case, the commission is not so straight forward. For HDB, the market practice is for 1% for buyer agents. For resale transactions, buyer agents typically get 0.5-1% at the very best. This is because you will be sharing the commissions with the seller's agents.
The exception to this is to close deals directly with developers in project launches.
For Huttons Projects, one of the criteria for our directors in selecting projects is for a healthy commission.
For example, a recent project that sold out yesterday, the gross commission was 1.3%. Currently our other ongoing projects are averaging 2%.
The HIGHEST being 9%!!
Thus as a buyer agent, your commission is definately better in a projects environment as compared to anything in the resale environment.
Hope the above gives an alternative insight into your original query.
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/
Many thanks for providing such handy information. I seriously value your expert approach. I would like to thank you for the efforts you made in writing this particular post. I am hoping the same from you in the future as well.
ReplyDeleteRegards,
Provence Estate In Gurgaon
Krrish