Kovan Regency Preview

Buyers in Tentage waiting for Balloting

More Buyers.. All in, 1000 Cheques Collected for 393 Units

Full Sized Tentage, Buffet Spread at the Back

My GTA is in the news again!!

The Bayshore, Bayshore Park, Costa Del Sol

In the news again..

No MRT,
No wet market,
No shopping center,
No nearby ammenities
01 Best beach in Singapore

Yield 4-5%
Rental downtime 1-7 days/year

Best Regards,

Mervin Tang

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

Discussions: http://sg-realestate-sg.blogspot.com/ 

For Selection of an Real Estate Salesperson, just note that some get the job done, and some do not

Home > Questions & Answers > Question Details

is price for new condo fixed by developer and commission payable by buyer is the same to all agent. that means it does not really matter which agent i gave exclusive right for prebooking

Posted by query - Aug 26, 2012 - Viewed 58 times

Posted Aug 27, 2012

Hello Query,

Thank you for your query on the sales procedure for developer sales (New Launch Projects).

Firstly, you are right. All sales commissions with the exception of HDB are bourne by the developer, hence there are no fees payable by yourself.

HOWEVER, not all sales agents are paid the same from their agencies, or cobroke agents.

In the case of giving the agent an exclusive right for pre-booking, it would really depend on what your objective is.

To "give the right for pre-booking"? Or to secure the unit of your choice.

In Project Sales, there are only 2 kinds of agent. The one that gets the unit, and the one that does not.

For example, at our most recent launch at One Dusun Residences, 300 buyers placed cheques for 154 Residential Units. Another 300 Cheques were placed for 76 Commercial Units. All in, ONLY 154 Resi and 76 Comm buyers got their units. The rest, did not.

See my link below for the ODR launch:

http://sg-realestate-sg.blogspot.sg/2012/08/another-successful-launch-one-dusun.html

Agents who pay attention to:
1. Cheque placement patterns
2. Buyer sentiment
3. Quick reaction to changes in sales procedure
4. Familiarity to sales procedures during preview
Will be more likely to succeed in securing the unit of the buyer's choice.

Hence in this case, to give the exclusive right to any agent makes 1 CRITICAL ASSUMPTION:

"All agents are the same, and they can get the job done."

Unfortunately for 200+ buyers at the ODR launch, they have learnt that that is not the case.

Hope this gives you a better insight into your agent selection in future!

Best Regards,

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

Leadership via INSPIRATION vs MOTIVATION, On Being a Buyer vs Seller vs PROJECTS Agent

Home > Questions & Answers > Question Details

I would like to join a real estate company that can register me as a licensed agent. Q1: In short, is there any company that do not expect quota yearly? Q2: My bf had a vast network of people that potentially buyer of condos and private estate. if there is an opportunity I can rep the buyer friend to close the transaction. assume that the selling price is $2M. What will be commission that I can entitle?

Posted by Queenie - Aug 21, 2012 - Viewed 152 times

Hello Queenie,

Good job on taking a step toward this exciting new business venture!

Let me address your query in 2 parts.

Firstly: On Sales Quota

No agency has a sales quota. That is set by the individual teams. In all sales environments, all sales teams are given "targets" and then agency leaders do RaRa shows and motivate and motivate their sales agents to reach the desired numbers. However it is not pointed to, sales quotas/targets always exist in a sales environment.

On this, let me propose a safe guard AND an alternative.

A) In this case, "the safeguard",

We all have heard the story of how the pursuit of $$ for $$'s sake corrupts, then the wildly successful agent thereafter spirals down thereafter.

In this case, in our team - CLMD Division in Huttons Asia Pte Ltd, we have a common practice of keeping in mind,

"What is this all for?",
"What is the end game that we want to see ourselves get to?"

These act like a ship's compass in a storm. Many a time we will sail through choopy seas and stormy winds, but always we will know our true path, and not get lost.

This is the root of all INSPIRATION.

B) The alternative: "We have no target"
For us, the leader's main job is to remind our associates to take a break. The difference between INSPIRATION and MOTIVATION?

Simple.. Motivation is about pushing and pushing. Once you stop, they stop running.

What then is Inspiration? It is about finding the one true thing that is close to the heart that one will fight their way through fire to achieve, and then set them on their path.

On the second part of your question, the answer is not so straight forward.

In this, you have asked about serving buyers to make purchases.

In this case, the commission is not so straight forward. For HDB, the market practice is for 1% for buyer agents. For resale transactions, buyer agents typically get 0.5-1% at the very best. This is because you will be sharing the commissions with the seller's agents.

The exception to this is to close deals directly with developers in project launches.

For Huttons Projects, one of the criteria for our directors in selecting projects is for a healthy commission.

For example, a recent project that sold out yesterday, the gross commission was 1.3%. Currently our other ongoing projects are averaging 2%.

The HIGHEST being 9%!!

Thus as a buyer agent, your commission is definately better in a projects environment as compared to anything in the resale environment.

Hope the above gives an alternative insight into your original query.

Best Regards,

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

Huttons Asia Pte Ltd - Project Launches and HDB Resale/Lease GTA

Home > Questions & Answers > Question Details

Hi, I have just passed my RES exam. I would like to know is there any agency that allow newbies to involve in new project launch and also involve in hdb sales/rental? For the agencies training,what will be the duration? Thank you

Posted by Z K - Aug 22, 2012 - Viewed 108 times

Hello ZK,

Thank you for your interest in Projects whilst at the same time managing HDB Sales and Rentals. In this aspect, many companies do Projects.

That said, there are a few market leaders in this domain. A "Project" is like a big EXCLUSIVE agreement. No doubt that some projects are handled by joint marketing, most projects are typically done by a single marketing. These projects are awarded by developers based on the marketing agencies reputation on consistently being able to deliver results.

Huttons Asia Pte Ltd is one of the very very very few agencies that can lay claim to a track record for selling out whole projects in less than 24 hours.

For example:
Yesterday was the preview of One Dusun (Average $1400psf) on Balestier Road (D12), a mixed development of 154 Residential Units and 76 Commercial Units was launched, and FULLY SOLD OUT in 24 hours.

The best part of this was, for every unit that was sold, there were 3 other ready buyers who were disappointed for failing in the BALLOT. For commercial buyers, for every successful buyer, there were 5 unsuccessful buyers.

Yes, Huttons does sell million dollar properties by BALLOTING. HOW many agencies can lay claim to that?

We had a live classroom session in the packed preview showflat to initiate our new associates on the closing procedures for which makes a successful closing.

See the full details on the launch @

http://sg-realestate-sg.blogspot.sg/2012/08/another-successful-launch-one-dusun.html

On your second question on agency training, your question needs to be more precise, the reason being, different teams within different agencies have different cultures.

For example, In Huttons Asia Pte Ltd, our team, CLMD rotates the training duties between the 4 specialist team leaders in the following domains of:

A) New Launch Projects
B) Private Resale/Leasing
C) HDB Resale/Leasing
D) Industrial/Commercial

ALL associates in our division cycle through all 4 domains. Each cycle takes 10-12 weeks to complete. Thereafter, the 4 team leaders rewrite the entire training program, and the cycle repeats. Hence, new associates with us can expect FULL YEAR training all year round.

Further on that, is a new team esprit de corp whereby our associates freely swing buyers/cobroke agents back and forth between showflats to assist each other in closing, and providing the latest information from Showflats.

This system can only work in a culture of openness and sharing. Something our associates are realising greatly assists their chances of closing and success.

Best Regards,

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

ANOTHER SUCCESSFUL LAUNCH @ ONE DUSUN.. The Huttons Way!!

Welcome to the Preview of One Dusun Residences!!

12pm, Showflat open to buyers
1230pm, Price Release for Residential Units
1330pm, Cheque Cut Off for Residential Units
1345pm, Balloting Begins...

1600hrs.. 95% Sold Out.

95% of the WHOLE Development is SOLD OUT, not 95% of Phase 1, or Phase 2, but for the entire project!!

Read on and enjoy the story.

As part of the training and work culture in CLMD, Huttons Asia Pte Ltd, we strongly believe in team cohesion and support in the marketing and closing of projects. 

At One Dusun Preview today, CLMD's new associates were treated to a live commentary on the procedures and processes on Huttons Project Sales by their lead trainer. 

It was a emotional roller coaster that blew many of the "un-initiated" away.

Learning objectives covered how to:

1.  Managing buyer expectations prior and during preview sequence

2.  Paying attention to cheque submission patterns

3.  Re-engineering the sales sequence to better position future products

4.  Strategies and critical events to take note of during preview sequence

5.  Meeting buyer expectations to secure their unit

6.  Riding the emotional roller coaster and surviving the Huttons Preview!!!

7.  Post preview follow up

Further on this, we have built a support system whereby there will always be a friendly face in the showflat for you to turn to when in need for assistance with an unfamiliar case/project.

Hence, in CLMD, we will never operate alone in this aspect, always with support, always with back up, always with reinforcements.

For the buyers, 150 residential and 76 commercial buyers went home happy having secured their units with the assistance of their agents.  An equal number went home having lost the ballot.  In a project that secured 300++ cheques for Residential units alone, one can see the quality of the product, and the expertise of the agents that one will not find in many other places.

Crowd in Showflat after 30 min of Opening of Doors

Carpark full before showflat opening time

Crowd waiting to get into the door

More crowd photos..

Waiting for cheque cut-off..

The legendary Huttons Asia Pte Ltd balloting process..

You will be hard pressed to find another company that can make this happen!!



Oh Yes.. Did I mention that the whole process repeated itself again at night for the preview of the Commercial Properties?

All in, 226 Units sold in 1 day.  Time to move on to the NEXT project!

Best Regards,
 

Mervin Tang

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

Discussions: http://sg-realestate-sg.blogspot.com/ 

Project Training: Adhoc Preview Training 24th August, One Dusun Preview - CLOSING THE DEAL

Dear Team Leaders,

For your dissemination:

RE:  Project Training - Adhoc Preview Training 24th August, One Dusun Preview

Dear CLMD Associates,

Huttons Preview is a sight to see for the un-initiated. 

Understanding the mechanics of how a Preview works will best allow you to assist your buyer in closing the units of their choice.  Thus far in Project training for Cycle 1 and Cycle 2, we have covered mostly presentation perspectives on the projects, on the preview day, we will reverse engineer the entire sales process, therein customising the presentation sequence according to how we expect the end game to unfold.

Failure to understand the process, and being unable to cope with the stress of course will result in a burst deal.

I will be giving an orientation and commentry of the entire sales process for the One Dusun preview this Friday, 24/08, during which we will also discuss strategies to work around to best increase your odds of getting a successful sale.

Secondarily, my role will be in support the Division's associates who have cheques in, and are fighting to secure the units for their buyers!!

To associates who are fighting for the ballot:  Good Luck!! We are with you.

Venue:  One Dusun Showflat @ Shan Road
Attire:  Show Flat Best
Time:  Party Starts @ 1030am, 24/08
To be Prepared for:  Lots of Sun, Standing for Long Hours, Thirst and Hunger, Heart Thumping Excitement

Welcome to a Huttons Preview!
--
Best Regards,

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