Starting Out In Project Sales For New Agents

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Hi, Good Day To All Of You! I'm Curious How Do I Start Out As An Agent Doing New Launch; Stationing At Show Flat? However, I'll Only Be Available During Weekend As I'm Working During The Weekdays. Thought Of Earning Extra Income. Thanks In Advance.

Posted by Ms. CONNIE YU - 2018-05-21 15:23:46 - Viewed 6 times

Answers (2)

Mervin Tang 

Posted 2018-05-22 10:37:33

Hello Connie, 

Good morning and thank you for your query. 

Looking to move into Real Estate as an extra income source is a good choice. Most of your buyers will also be holding regular hour jobs as well hence would be well suited to meet you either in the evenings or on weekends.

Some suggested steps to follow in order:

1. For starting out in new launches, the first step would be to join a team that is well positioned in the New Launch segment that has a consistent stream of products for your selection to market.

2. To join a team that has a strong emphasis on project marketing. Why this is critical is that Project Marketing requires a broad knowledge base and experience that you as a new joiner would need to tap into to maximize your closing chances. A strong team in this sense would be well suited to support you in the direction of your choice.

3. For marketing aspects, to "station at showflat" is only the tip of the iceberg for Project Sales. Core to success in this arena is "Leads Generation". For this there are multiple aspects that are built up behind the scenes of the successful project sales agents. Broadly broken down, there are the active and passive marketing systems.

For passive marketing systems there are your online marketing for PPG, 99.co, social media advertising etc.

Active marketing systems would include show flat duty, hyping and telemarketing activities.

As such, the key really is in points #1 & #2 where you get yourself immersed into a team that is strong and at the fore front of project marketing. That way you follow on for the marketing activities and get tagged with a senior to show you how to build your various systems.

I trust this goes some ways to help you find your path forward.

Thank you!


-- 
Best Regards,




Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/

To Achieve Momentum Through Small Cumulative Success!!

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Hello I'm Thinking Of Committing Property Agent As My Part Time Career. Anybody Can Give Me Some Advise?

Posted by Priscilla Chia - 2018-03-25 11:12:00 - Viewed 47 times

Answers (4)

Mervin Tang 

Posted 2018-04-27 14:25:04

Hi Priscilla, 

Good afternoon and well noted on your commitment to the real estate industry.

On a part-time or full time basis in this industry, my key piece of advise to you would be to derive a positive result ASAP! 

In any business or project, the key to long term success is momentum, in this case I would advise to quickly achieve any means of short term success while always keeping your eye on the horizon of establishing yourself as a credible brand in the long term.

Momentum in this case would be to move on areas that you have existing leads, or friends, family, colleagues who are keen to buy, sell, lease or rent properties and start there. These are the lower cost alternatives VS launching out into an all out advertising campaign to bring in fresh leads (of course this is the long term expansion plan to grow the business).

The "path of least resistance" course would be determined by which current leads you would have at that point in time, thus do reach out for more directions/instructions on how to handle these prospects and convert them into sales.

Good luck!

-- 
Best Regards,

Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/

Leveraging & Capital Gain in Real Estate Investment

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Hi, Can Anyone Share W Me What Is The Pros Of Investing In Residential Ppty For Rental As Compared To Say Placing The Funds In The Sti Etf, Other Than Using Leverage To Grow Ur Assets, Or The Can Touch, Can Feel Factor, Or To Hao Lian To Relatives During Cny? So Far I Dont Find Rental Yield Of Pte Ppty Attractive Enough For Me To Consider Plonking My Moolah In.. 1) First N Foremost, Ppty Is Illiquid Compared To Say Sti Etf 2) It Is Also Less Diversified Than Say A World Index Fund.. 2) Double Taxation Of 10% For Ppty Tax And Another 10% (Roughly) For Income Tax (Anyone Who Can Afford A 2nd Ppty Probably Earns Upwards Of 100k Pa). And Nt To Mention Half A Mth Of Agent Comm For 1yr Lease, And Maintenance And Sinking Fees Upwards Of 3k Pa Minmally. I Reckon These 4 Factors Can Easily Eat Up To 30 To 35% Of Rental Income.. 3) Assuming A 3.5% Rental Yield, I Will Be Lucky To Get 2.5% Returns Back. In Contrast, Blue Chips Can Easily Get Me 4 To 5% Returns..

Posted by Anonymous - 2018-04-03 14:05:00 - Viewed 59 times

Answers (3)

Mervin Tang 

Posted 2018-04-27 13:41:10

Dear Sir, 

Thank you for your query on the comparison between real estate and more liquidity based investments like stocks and shares, ETFs and blue chips.

Off hand, yes your analysis is correct if you take away 2 key aspects in real estate:

1. Leveraging, which means that you multiply your capital gain by a factor of 5 if you are on a 80% loan.

2. Time horizon. Time horizon is pertinent as rightly put, blue chips yield a 4-5% year to year return.

Real estate on the other hand, if you track back the historical data on price movements, the compounded yearly effect would be much higher than the blue chip return of 4-5%. There are home owners out there in the market that think of real estate investments over multiple lifetimes whereby their decedents ultimately take over the ownership and accumulate the assets for succeeding generations. 

All this is achieved primarily though real estate holdings.

I trust the above would balance out your opinions on real estate as an investment vehicle.

Thank you.

-- 
Best Regards,


Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/

Reaping The Rewards Of A Successful RES Career First And Foremost Through A DEVOTED Career Choice

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Hi, Are There People Who Does Part Time Real Estate Saleperson While Still Working Full Time For Other Company? I Thought Of Becoming A Part Time RES First To Have Abit Of Insight, Then Will Consider To Leap Into RES Full Time If All Is Well. Any Advices? Thanks In Advance

Posted by Anonymous - 2018-03-27 12:17:24 - Viewed 103 times

Answers (6)

Mervin Tang 

Posted 2018-04-27 13:23:52

Good afternoon, 

Thank you for your query into exploring the real estate industry on a part-time basis before making the transition in on a full time basis.

Much has been said about the perks of being a realtor. 

First and foremost, IF you do your job right, the money is great and effective. (You hardly find anyone skiving or taking long lunch breaks in this industry)
Secondly, there is time management that allows you to build your business around your lifestyle instead of being limited to a 9-5 environment. Of course doing your shopping on weekdays where there is no crowd is always a winner.

On the flip side, there are the expectations of the clients. Again first and foremost is trust.

Realtors manage very high value assets, in many cases, these are your client's life savings, hard won with blood and sweat, and these are placed in trust with you to best advise and execute their plans on. For this, clients look for realtors who are devoted to their craft. Something akin to a specialist doctor who has spent many years to learn and practice their skills.

Why is all this relevant to your question?

The answer is that it is very hard to achieve a devotion to your chosen career on a "part-time"
basis because the nature of "devotion", is a "all-or-nothing" approach to building your personal brand. Hence, yes, you may start out on a part time basis, but bear in mind that the fruits of success can only be reaped much later on when you sink your roots and powerfully choose real estate as your primary and ONLY business path.

Thank you.

Best Regards,

Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/

Balancing Good Commission Rates And Having Good Mentorship

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Hi, Like to inquire which is the best estate agent in town to work with, as I pass my RES exam like which ones offer - best comm rates and/or - which gives excellent mentorship other than training

Posted by Mr. titus ong - 2017-12-07 10:28:41 - Viewed 161 times

Answers (7)

Mervin Tang 

Posted 2018-02-12 17:39:22

Hello Titus, 

Good afternoon and thank you for your query on;

A) Commission rates and 
B) Excellent mentor ship

Let me address both of these at the same time. On commission rates, typical agencies peg it at:

80/20 (i)
85/15 (ii)
90/10 (iii)

Each of the bands are achieved by achieving a certain level of production, therein an associate would keep progressing up the tier levels until the highest tier is achieved. Shortcuts are highly inadvisable. Why?

For (i) At this level, your tier 1 (T1) and tier 2 (T2) manager would generally get 6 and 4% of your commission, the balance going to the company for running costs. 
For (ii), T1 and T2 will not be getting 4 and 2% of your commission, and for (iii), it would be 2 and 1% respectively. Thus, T1 and T2 are most incentivised to train and groom a new associate in the beginning of their business career. 

This drops away as the new associate moves from (i) to (iii) progressively as they build up experience in handling cases and closing deals. For a new associate to jump into a 90/10 arrangement, it would be logically impossible to expect that your tier 1 and tier 2 would train you at the same level as that of a new associate.

Hence the answer to your question would be that it is structurally impossible to achieve a good commission rate TOGETHER with good training and mentorship at the same time. 

Therefore, between choosing a good commission rate, and excellent mentorship, the choice is simply that to have a good mentor and training system as the priority. Simply because any commission scheme is contingent on the deals you close. A commission scheme of 99.99% multiplied by ZERO closing still translates into ZERO income.

I trust this would go some ways into resolving the conflicting requirements that you may have at the moment. All the best in your future pursuits!

Best Regards,

Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/

DEVOTION, as the critical component to success in the industry..

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Hi, I have recently passed my RES examination and would like to join a real estate agency as a part-time agent while studying. Which agency should I approach?

Posted by Anonymous - 2017-12-08 12:39:28 - Viewed 108 times

Answers (6)

Mervin Tang 

Posted 2018-01-14 00:12:59

Good Evening,

Well done on passing your CEA examinations!!

Thank you for your query.. I will answer both the aspect that you asked directly about, and also to an aspect that is rarely addressed in conversations such as these.

#1. On selecting an agency to approach to work part-time whilst studying:

There are 2 elements here that you would need to look for. Firstly a good mentor, and secondly, a good team. A good mentor I would have talked about many times in my previous replies. Let me say something about having a good team. A good team firstly provides support and a sense of belonging to a group. Further, a good team provides an intangible sense of belief (A path that your seniors have taken before you). Belief that the path that the new associate is on is the right path, and that success would come eventually as long as they persevere.

#2. Many individuals have posted before about the prospects of "trying" out this industry on a "part-time" basis. On this, let me relate a story from my first days of stepping into this business.

I asked a successful senior in the industry this question, "What would it take for me to succeed in this industry?".

He thought on it for a moment, and replied, "Devotion."

Over time, I have come to learn what the word devotion means;
- To be dedicated to the mastery and excellence of our skills and knowledge
- To continuously strive to answer & serve every query, every potential client that may cross our path to the 100% of our ability
- To place above all else the trust that is given to us by our clients
- To place the needs of our clients before our own
- To demonstrate to our clients that we would risk it all to achieve their goals

That is how I learnt what devotion means. AND, it does unlock many doors to successful deals in the process. This contrasts markedly from a "part-timer" approach to the business as in essence, it is the exact converse to "Devotion".

Thus to succeed here, we had, and have to risk it all, to immerse ourselves in the devotion to our craft.

Thank you!

Best Regards,


Mervin Tang
Huttons Asia Pte Ltd
Associate District Director (ADD) @ KLG
CEA Reg No. : R030951Z

Mobile: (65) 9184 0208 
Website: http://thepropertygame.push.sg/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/ 
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html
North East Line GTA: http://nelpropertychampions.blogspot.sg/