ARC 380!! The Next Big FREEHOLD OFFICE/F&B/SHOPS Launch!

ARC 380!! The Next Big FREEHOLD OFFICE/F&B/SHOPS Launch!

ARC 380 is a FREEHOLD Office cum Retail cum F&B Development on the Lavender food square/Eminent Plaza.

ARC 380 Comprises of 144 Office Units and 23 Shops

ARC 380 is at the starting cycle of the office property price curve whereby in conjunction of URA’s urban decentralization plans of which to decentralize the CBD to ease congestion and bring jobs closer to home, as well as offering a lower cost alternative to their business operations.

Decentralization leads to “Cluster Value Appreciation” outside of CBD which raises value of the suburban areas.  Some of these satellite business clusters include Jurong Gateway and Paya Lebar.

ARC 380 offers an early entry investment opportunity into the future potential in the location which has not yet been realised.

The Prime CBD areas such as Robertson Road and Shenton Way are in the midst of being redeveloped into mixed developments with Residential and Commercial units.  Examples of these include One Shenton, Eon Shenton, Icon Village etc.

The likely impact will be on older office developments. New offices that are coming up are mixed developments that come with facilities which follow Google’s office concept of blending work and play to foster a creative work environment.

At present, the population white paper currently has 50% of the resident work force who are white collar workers. The future projection is for 2/3 of the work force to move up the value chain and move into white collar jobs.

Over the last 5 years, there have been an increasing number of business registrations in Singapore

The main bulk of these business formations require office spaces, the property price index of office properties now in upswing with the office rental price index mirroring the price index movement.  Vacancy rates are currently moving in the opposite direction.  As per URA data, the vacancy rates for office in the ARC380 area stand at 5%, which is about half the national average.

Current office space in the pipeline coming available over the next 3 years will not meet the rate of business formation; this will lead to falling supply in an environment with rising demand, which would lead to strong leasing demand. Vacancy rates are likely to remain in single digits.

PROJECT SPECIFIC INFORMATION on ARC 380

The liner distance to the upcoming Bendemeer MRT station is 250m

Developer: Tong Eng 
Unit Types: 144 offices + 23 shops
Tenure: FREEHOLD
Preview: Est. Mid Jan 2014

RARE FREEHOLD Commercial 
It is in an Extremely PRIME CENTRAL location

PRICED TO SELL
CONSTANT HIGH human & vehicular traffic

Unit Mix Level 1 – Restaurants & Shops

Unit Mix Level 5 to 16 – Offices

Guide Price: Office sizes range from 66-93sqm, Purchase price $1.8m to $2.7m

Guide Price: Shops sizes range from 30+sqm, Purchase price about $2mil +/-

Guide Price: F&B, Purchase price about $4.5mil

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

The MERITS and Necessary Skills Sets of a Exclusive Buyer Broker

Home > Questions & Answers > Question Details

Can agents be successful without taking listings and represent only buyers? I realise there are no such exclusive buyer brokers in Singapore, unlike America. Is this a fair assessment?

Posted by Anonymous - 2013-11-26 23:58:03 - Viewed 73 times

Hello, 

Thank you for your query, in all the questions that have ever been posted onto this question forum, I believe yours is the first in a very long time that asks about servicing buyers/tenants exclusively.

With reference to your question, it boils down to 2 distinct factors:

Firstly, the present conditions in the real estate market.

Let us look at the PRIVATE RESALE MARKET.  The current market is characterised by a drop off in resale transactions, meaning that the resale volumes have dropped drastically due to the ABSD and the MAS loan restrictions.  Thus the simple fact here is that there has been a sharp drop in buyers seeking Private Residences.  As such, serving sellers and securing exclusives at 2% commission are not exactly the best way to go.

Let me explain, EXCLUSIVES work in an environment where you have 1 seller vs 10 buyers.  That way, the exclusive agent can protect the seller's interest to get him/her the best price from the 10 buyers.  Currently, the situation is reversed.  Now, we are looking at 1 buyer vs 10 sellers.  In this situation, having an exclusive agent severely damages the chances to sell the unit.  

Why?  Simply because the buyer's broker can present all the open listings to the seller, and avoid the unit with the exclusive.

The Second Factor - The Agent

Not all agents are the same.  Some agents just make viewing appointments for the buyers to see properties, and it ends there.  ANYONE can do this job, even a PA hired fresh from school.  

There is much more an buyer agent can do to value add to a transaction, and in short, save the buyer a lot of time and money.

For example, when you view a renovated unit, many a time you will hear the seller/seller agent proudly say, "My seller spent $100,000 on renovating this house".  My thoughts, "Really?".

A good broker agent is able to walk around the house and determine the value of the renovation works. Many a time, the $100,000 breaks down like this:

Paid to Interior designer: $50,000

Paid to contractor: $30,000

Paid for fittings & fixtures: $20,000

GRAND TOTAL: $100,000

Hence, the buyer is far better off buying something comparable in original condition, at $100,000 below the renovated unit's cost, and do it up themselves.

These are some of the valuable skills that a good buyer agent brings to the buying equation apart from organising the viewings.  To quickly touch on, assessing air-conditioner trunking layout, condition of air conditioners, plumbing integrity, are many other essential skills that a buyer's agent brings.  Why?  Simply put, buying a house is not something that a buyer does very often.  Hence, the enlightened buyers know that they simply have no idea what they are looking at.  This is where a good buyer agent is indispensable to the buyer.

These skill sets are not common place in the real estate industry, and they exist in my team mainly because we have a strong emphasis on cross industry training as part of our associate training program.

Hope this sheds some light into your above query.

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

Negotiation Architypes and Which Works Best For You

Negotiation is a means to an ends, and never an ends in itself.

It is always begins with an outcome in mind,  and ALL negotiations.must strive towards that outcome.

Negotiations work like diplomacy, they always entail two halves to an equation which MUST always coexist.

The Carrot vs The Stick

Both are necessary in equal measure, they cannot exist without the other.

Example, in the context of nations and empires throughout history, peace is always achieved at gun point.

Countries with the same number of guns achieve peace. Coutries with no guns, get conquered. Hence, freedom and peace are ALWAYS won through the threat of force.

In a negotiation environment,  determine what your carrots and sticks are. Then use them as necessary to achieve the outcome.

I had a breakthrough today, each of us come with our own strengths and weaknesses,  and correspondingly, there are negotiation archetypes each of us may use.

For example, David Wong and Jacqueline are "Paladin"s. They cannot lie, always tell the truth, and fiercely protect what is right from wrong. These inspire trust in their clients.

There are also the "Mage". This negotiates from wide knowledge and expertise. The advise from these is second to none, and clients come to them for their advice.

There are the "enchantresses". A smile from them and they could escape with murder. Enough said.

There are the "thieves". They are efficient in getting the necessary done. You might question their methods, but not the outcome.

There are the "rangers". They are given a task and are independent and efficient  problem solvers.

At the higher levels, there us the "hero/queen" piece. Throw them into however crappy a situation.  And they save the day through inspiration and force of will.

Then there are the "pawns". They move one step at a time. Often in a straight line. Often the front line and gets into a shoving match when they hit the wall.

Still, we all start here. And in every chess game, the king piece guides and nurtures the pawns to their full potential. At the end of their journey.  They become Queens/Hero pieces.

Which are you now? And where shall your journey take you?

That adventure is for you to choose.

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