Wednesday 30 October 2013

CLMD Adhoc Training, Landed Home Launch for Charlton 18 - ONE TIME ONLY!!

CLMD Adhoc Training, Landed Home Launch for Charlton 18 - ONE TIME ONLY!!

Learn the secrets of HIGH COMM selling Landed Properties at Launch!!

1.  Understand the thought process behind what landed buyers look for
2.  Study the project to find the USPs of the project
3.  Comparative market analysis on the project
4.  Where are the buyers for these properties?
5.  Securing the buyer's interest

All these and more to catch the buyers before next week's preview!!

Venue:  Charlton 18 Showflat
Date: 1st November 2013
Time: 2-4pm
Trainer:  Mervin Tang

-- 
Best Regards,
 
Mervin Tang
Group Director
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 Powers of Leveraging As a Part-Timer to Yield Full Time Results!

I have been a homemaker for the past 10 years. Would like to be a part-time property agent. Can only work starting from 7pm. Is it still possible for me to succeed? What are the steps I need to take? Thanks.

Posted by Anonymous - 2013-10-14 00:16:08 - Viewed 109 times

Hello!

Thank you for your query on making Real Estate as a business/career work within time constraints.

Being a part-timer of course restricts the time and expertise that you can build and acquire in the Real Estate world.  The key then is to make the best out of your limited resource allocation, which in this case is time, to yield the best result.

I had one such case as yourself, who did her work mostly at nights and she was able to successfully pull off a new launch case closing in her first month.  The key here was to do so via leveraging.

In essence, there are many components for a real estate deal to take place, a quick time spectrum would look like the following:

Listing acquisition -> Marketing -> Viewing -> Negotiation -> Closing

As such, given the time involved in the various steps, it is impractical to attempt the full case as a part timer restrained by time.  The key do it is via eliminating and sharing out the work scope as much as possible to shorten the time required and close the deal.

The team structure that I have built within my division allows precisely that, whereby experienced seniors are present across various showflat sites, and newbies just need to generate buyers to them, and leave them to do the case closing, of course on a commission sharing basis.  In this case, all parties are winners.

If the cases are resale in nature, then the newbies tag a senior and the seniors manages the strategic aspects all the way through to closing, plus the newbie also gets to learn invaluable skills along the way!

Do let me know if such a team based work arrangement catches your interest.


Best Regards,


Mervin Tang
Group Director
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
Career Discussions: http://sg-realestate-sg.blogspot.com/

http://www.thetembususg.com
http://www.lafiesta-sengkang.sg/
http://www.qbay-residences.org/
http://www.sennett-residence.org.
http://www.jewelbuangkokcondosg.com

Tuesday 29 October 2013

The Fallacy of a Part Time Effort in ANY Endevour

I just sat for the september RES exam and looking to join an agency if i am able to pass the exam. I have some doubts in choosing the agencies in the market. 1) What is the range of joining fee in joining an agency ? 2) What will be the monthly expenses expected before I can earn any commission from selling property? 3) I would like to start as a part time agent. Is it possible? Thanks .

Posted by Anonymous - 2013-10-15 13:40:58 - Viewed 176 times

Good Afternoon,

Thank you for your questions above.

The first part of your question is easy as it as most agencies are either bearing the cost of the joining fee, or reimbursing it later on.  Do check the fine print for this as CEA rules protect the buyers, sellers, landlords and tenants only.  Inter agent sales talk is as yet unregulated.

The second question on expenses is really much more difficult.  The question that you have is easy to answer if you are an experienced agent with substantial resources.  However, if you are a new agent with limited "Shelf Life" and limited resources, it really comes down to a plan for optimal resource allocation to get the desired result.

In this aspect, your mentor and upline must build this plan together with you to give the maximum odds of success.

The third part of your question on joining as a part time agent is really what catches my interest in this answer segment.

New associates come into the industry on a part time basis for a variety of reasons.  For example,
1.  To build up resources before venturing in full time
2.  To allow some transition time in skills acquisition
3.  To "try" and see if the industry is suitable for them
4.  Waiting for the right market conditions to come in

The above reasons are non-exhaustive, but there is a common thread and flaw within them.

In all transactions, Real Estate Salespersons (RES) also act as advisors in the sale and purchase process.  In that way, part of the deal is done based on the confidence that the transacting parties have in the RES.

A "part-timer" essentially says to the transacting parties,

"I lack the abilities/resources/confidence to bet everything on this as my business/career".

Thus from a business building perspective, "part timing" is not a long term solution as it directly reflects the confidence that you bring into the business.  This aspect is often missed out out, and yet is still critical to the mindset of the RES which determines future success or failure.

Good luck in your path ahead!

Best Regards,


Mervin Tang
Group Director
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
Career Discussions: http://sg-realestate-sg.blogspot.com/

http://www.thetembususg.com
http://www.lafiesta-sengkang.sg/
http://www.qbay-residences.org/
http://www.sennett-residence.org.
http://www.jewelbuangkokcondosg.com

Understanding The Agency Incentive Scheme, Don't Sweat The Cosmetic Details!

Hello agents, I have passed my RES and am looking to sign up with an agency. Can the agents from the various agencies please provide me some information for my research? 1) joining fees 2) commission structure 3) possibility of being stationed at new launches please provide your contact numbers too so that I can contact you if I am interested to join!

Posted by Anonymous - 2013-10-15 20:42:39 - Viewed 149 times

Answers (14)

Mervin Tang
79d7532041822_1_V60B
Posted 2013-10-30 14:24:29

Hello! 
Thank you for your question above. 
First and foremost, the questions you ask at the surface level are very much like what typical new joining associates would ask. However let me help you to expand and deepen your questioning. 
1. On Joining Fees 
Currently most agencies are offering to pay in full, or to reimburse your joining fees. However, please pay attention to the fine print, that is to say, the "Free lunch" is conditional of either a minimum production level over a year, OR, to reimburse after you have closed a minimum number of deals. 
2. On Commission Structure 
The question here should really be more about the incentive structure as a whole. Meaning to say, 
A) How many tiers are there? Flat tiers are incentivised to grow faster, agencies with many tiers tend to be more relaxed and more focused on sales production rather than recruitment and training. 
B) What is the group profit sharing model? 
C) What is the main business model of the company? Is it in the secondary or primary market? The incentive scheme is critical to your approach as it would determine how it can support your growth as a business owner. Purely looking at 70-30/80-20 does not consider the business growth potential of the overall model. 
3. On Core Team Duties 
Some agencies practice exclusive project allocation to their respective divisions. This limits the choices and scope of an incoming associate as you have no choice outside of the projects allocated to your division. In the long run, agencies that practice this model do not do well in the New Launch environment as individual Divisions lack the sales force to achieve project sell-out. 
Huttons Asia Pte Ltd on the other hand practices a WHOLE COMPANY approach whereby all Huttons Agents are able to select ANY Huttons project that best fits their networks and abilities to achieve a successful sale. 
That said, the above questions though important, are like the icing on the cake, and not the cake in itself. 
Let me give an example: A man climbs a mountain to find Shaolin Temple to learn Kung Fu. When he meets the Shaolin High Priest, his first question is.. 
"Master, what brand of toilet paper do you use?" 
The Real Estate World is exactly the same. It is about learning "Kung Fu" from your chosen school. The details thought important, are cosmetic relative to the flavor of your cake. 
Hence, get the key elements right, sweat the details later. 
Hope this sheds some light into your journey ahead! 

Best Regards, 
Mervin Tang 
Group Director 
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 
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
http://www.thetembususg.com 
http://www.lafiesta-sengkang.sg/ 
http://www.qbay-residences.org/ 
http://www.sennett-residence.org. 
http://www.jewelbuangkokcondosg.com

Why Do Real Estate Salespersons Succeed At Different Speeds?

Hi, My question might seem a bit stupid. But I would really like to know how much a real estate salesperson earning annually. Provided he/she is a full time and active salesperson. I understand that there are many factors affecting the income but i just want to know the average. Thanks.

Posted by Anonymous - 2013-10-23 15:40:02 - Viewed 227 times

Hello,

Thank you for your question as above.  Firstly, in learning, there is no such thing as a "stupid" question, rather it is only stupid when you do not ask any questions at all.

To set you off on the right path, firstly, perhaps you might want to seek to revise your question into understanding what is applicable to yourself.  Meaning, the question that you ask needs to answer the doubt that you have.

Let me help you out, the Real Estate Industry is one that is massively asymmetrical, meaning that 80% of the entire industry's income is earned by the top 20%, and the bottom 80% only make 20% of the balance income (The 80% also contains the "part-time" RES personal).

At the same time, do not get too carried away with the stellar results that some brand new associates come with, because these are only 1 in 100, and of course there are simpler reasons to explain that.

Part and parcel of a new associate's success in the industry comes from a two aspects,

1. What networks do you currently come into the industry with?  The industry is such that "networks" are the key driving mechanism to fast tracked success.

2.  Base skills in sales, negotiations and networking

If an associate comes in brand new in terms of skills sets AND the lack of networks, then the main success factor would be a very positive attitude, and well focused energy.  Meaning to say all the time, resources and energy MUST be focused and harnessed in an effective manner to generate the needed results.  This, however takes time, effort, and a dash of luck.

To put some numbers into your equation as above, I would venture 2 average numbers, meaning to say, an average result for the bulk of the 80% in the industry, and the threshold for the top 20% of the industry.

My best guess would be as follows:

$28,000 average for the bulk of the 80%
>$100,000 to qualify for the top 20%

Thus, in conclusion, understanding the numbers is one aspect to the whole equation, the next part that is critical is in understanding the necessary components to get yourself there.

Meaning in a simple formularized breakdown:

Top 20% = (Training + Mentorship + Team Support + Networking + Determination + Effort + Luck)

Hope the above helps to shed some light into your path ahead!

Best Regards,


Mervin Tang
Group Director
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
Career Discussions: http://sg-realestate-sg.blogspot.com/

http://www.thetembususg.com
http://www.lafiesta-sengkang.sg/
http://www.qbay-residences.org/
http://www.sennett-residence.org.
http://www.jewelbuangkokcondosg.com

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