Which agency allows new agents to participate in new launches? What are the mkt practice for commission of new launches? Thanks!
Posted by Mr Curious - Apr 2, 2013 - Viewed 252 times
Hello Mr Curious,
Thank you for your question on the above.
Let me break the question down and address them in their component parts.
FIRSTLY:
Project Sales is a common start point for many seeking to start a career in the Real Estate industry. The reason for this is that new associates coming into established project launch companies have on hand a full catalogue of ready listings for them to market and present to buyers.
This coupled with the fact that developers are ready and reliable paymasters, and as long as the pricing is met, the deal is sealed. This is contrary to the resale market whereby sellers can change their minds on the closing price, or withdraw from the sale totally.
This however does not mean that Project Launches are a walk in the park. In this case, the opposite is true, the resale industry is an easier to "sell" environment relative to Project Sales. For example, in the resale environment, the unit on the market has 4 walls, the buyers can see, touch and feel the product they are going to sell.
In a Project Launch sale, AT BEST, the buyer has a showflat to see, a Project Model, and a whole dose of imagination. Such a sales environment requires a whole extended skills set that is absent in the resale environment. Suffice to say the following, a PROJECT SALES TOP PRODUCER will be able to smoothly transit into a resale environment, however, many TOP PRODUCERS IN RESALE have come into Project Launches and failed.
The key for New Associates that works best is to seek out a team environment where there is firstly peer support, peer learning, and direct team leadership on the field. Without which the Project Launch environment is a fierce and hostile environment.
Almost all agencies all new associate participation in a launch environment. However, not many have the logistics set up, and the open sharing culture to maximize the new associates potential.
SECONDLY,
On commissions, the commissions paid by developers are highly competitive, and in direct relation to the ease of which the product sells.
A broad range on the commission would be between 0.4% (The easiest to sell), all the way to even 8%(The type you sell once a year, and take a 11mth holiday). These are commission levels that you will almost never find in the resale market.
Thus and therefore, as a new associate, my recommendation is always to go for volume to quickly build up your experience and confidence, have a few high paying commission projects up your sleeve as a bonus.
Hope the above sheds some light into your queries.
Best Regards,
Mervin Tang
Senior 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
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