The Merits Of Having A Sound Marketing Strategy AND Remuneration Plan

Hi, I'm looking for agents with good track record to help sell my unit which I've been trying to market for last 3 months. Mine is a private condo in the east. Prefer agents who specialise in private property and willing to absorb GST on commission. If you're interested, please leave your contact and credentials in the answers. Willing to consider exclusive if agent shows commitment. Thank you.

Posted by Mrs. Rosewati Sukiman - 2014-10-24 09:30:49 - Viewed 441 times

Answers (8)

Mervin Tang

Posted 2014-11-04 01:54:53

Hello Mrs Sukiman,

First of all, yes, I am specialized in private property in the East thus I would be very well versed in the current market conditions, and I am holding a price record for one of the premier condominiums there.

There have been many views to this thread, and at the same time many varied responses by my peer Real Estate Professionals.

Given that you have marketed your property for 3 months, clearly your objectives have not been met.

Perhaps, the solution to your problem is already in the above.

There was a famous saying from a business consultant when he get's called in to look at failing businesses.

"To understand where a business is going, just look at the:
1. Mission objectives
2. The staff remuneration plan

In your case, #1 is to sell your house.
Let me shed some perspective on #2.

The remuneration plan is ALWAYS viewed in conjuncture with your competitors. Which in this case simply put, means other private property private owners, OR, private developers.

In today's market, the primary volume in the sales market lies in Project sales. Simply because at a glance, 1% is a low average. Further, to absorb GST puts your remuneration offer at lower than the market average. Hence, if your remuneration plan falls short of the market expectation, then real estate brokers with the buyers on hand will simply pass by your property. Further complicating matters is to use an "Open Listing" function. TOP performers will never come to you if you insist as such.

However, there is an additional assumption here that ALL real estate agents are the same. They are not.

There are RES that can value add and ultimately get a premium price on the seller's property. The 80-20 rule dictates that this top 20% of RES will be able to move your property and fetch a premium despite today's market conditions. Bear in mind that these top performers are busy people and can only accept so many assignments at a time, based on your marketing structure of an Open Listing and your remuneration package, why would these people accept your case?

In summary, "Wave peanuts, attract monkeys, house still not sold."

Best Regards,


Mervin Tang
Group Director
Division Lead Trainer, Project Sales, International Projects
CEA Reg No. : R030951Z
Huttons Asia Pte Ltd

Mobile: (65) 9184 0208
Website: http://sg-realestate-sg.blogspot.sg/
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