Annual TOP Producer 2014 - YES WE DID IT AGAIN!!

Dear Clients, Friends and Cobroker Agents,

 Thank you for your support and trust, we have done it again!!

Keys Success Ingredients For Individuals To Work Towards

Good day all Gurus, Thinking of changing line to be a property agent but is it guaranteed can earn a living like said I passed the exam and 'fight' to survive. Any old or 'lao jiao' agent here can share if you all have encounter any agents that failed to survive in this industry? I think it's good too list down the factors why a agents will fail and further discuss this so as to help newbie like me understand, and be mentally prepared. Also, can help newbie not to create a topic asking for a same thing over and over again. Thanks!

Posted by Anonymous - 2015-03-05 00:56:16 - Viewed 49 times

Answers (3)

Mervin Tang

Posted 2015-03-06 00:10:46

Hello,

Thank you for your query. Many prospective new associates have asked about the necessary ingredients but you are probably the only one that I have encountered that has asked about the necessary ingredients to AVOID, that could lead to failure in this industry.

I have extensive training and field leading experience of new associates in my Division in Huttons Asia Pte Ltd. During this time I have come to notice a pattern in the similarities of BOTH the successful and unsuccessful agents.

In my training, I emphasize one single formula to success:

Success = YOU X Training X Resources

In this case, assuming equal training & resources, the 33% that decides your failure and success is simply, "YOU".

Now, to specifically reference your question, there is a common trait to the new associates who fail.

1. "I will need a lot of hand holding".
The real estate industry is often confused as a job/career. It is not. It is dynamic and highly fluid. No two deals are ever the same, and will always require a bold and quick thinking individual to seize the opportunity to close the deal. It is NOT for individuals who lack initiative and self discipline to move forward on their own.

Individuals who need a day-to-day assistance to plan their daily activities fall into this category as well. The outcome of this are such that these individuals need constant supervision and guidance on their everyday activities, else they simply languish at home.

2. Pride
The business is people centric and as such, it is always about people, FOR people at the end of the day. As such a fair degree of professionalism is necessary to avoid letting pride get in the way of a negotiation and blocking a deal.

3. The lack of "hunger"
For all associates, I have a single rule:

"Every moment you find yourself free, find some marketing activities to do."

In showflats or on team marketing activities, instead of concerning themselves with the next prospect or the next client, these associates worry themselves over what to have for breakfast, what to have for lunch thereafter as their first priority on stepping into the showflat.
The top performers conversely spend the morning making appointments for the rest of the day before concerning themselves with their stomaches.

4. Evolution
The 2014 - 2015 real estate market is highly evolution based. Meaning, the strong get stronger, the weak do not survive. The market is such that it is changing very rapidly. Marketing techniques from 2010 - 2011 will no longer work in the current market.
Associates must be constantly willing to adapt and not to remain stagnant. To constantly upgrade and to learn new skills and abilities. That is the key.

5. Discipline
To answer your calls in 3 rings, to start your day at a fixed time, to be at your appointments and viewings on time, everytime. To MAKE your appointments each and every time. This is a vital aspect of professionalism.

6. Initiative to take action
Action, is what closes the deal.
Action, is what makes the money.
Will you ever be 100% prepared to take action? No. Will taking action necessarily result in success? No, and yet, action MUST be taken. There is no model answer, the answer lies in your flexibility to adapt.

In one way or another, what holds back individuals from succeeding is always they themselves. The above 5 points are negative values that hold us back as individuals in all aspects of our lives and not just in real estate.

Hope this helps. Good Luck!

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/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html

The Risks Of Selling Below Market Rate Commissions

Hi. I planning to sell 4room HDB . Very High Floor. Any agent willing to sell at 0.5% commission can pm me. I will contact you very shortly.

Posted by Mr. Ong Lee - 2015-02-26 16:41:49 - Viewed 76 times

Answers (8)

Mervin Tang

Posted 2015-03-05 23:13:59

Hello Mr Ong Lee,

I hear your plan to sell your 4 room HDB. Though it is a high floor unit, your flat will still be subject to market forces. The current market forces are such that HDB resale prices have been steadily falling over the last year.

Transaction volumes are also notoriously low, as such, many sellers are unsuccessful in selling of their units.

Do notice that none of the agents who have replied to your query has accepted the offer of 0.5%?

In today's market, sellers and landlords alike are competing for buyers and tenants. Reducing the payment way below the market rate is a sure fire way to UNSUCCESSFULLY sell your flat.

Why?

The current market is such that it will take 3-6 months to successfully sell a HDB flat. Hence any agent you engage will be in a loss position by the time you reach month 3-4 of the sale process. Anything longer and the agent will have to abandon your case and cut losses, therein you will have to start the process all over again.

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/
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/

LAUNCHING NEL Property Champions - Our New North East Property Platform

NEL Property Champions

-  http://nelpropertychampions.blogspot.sg/

Dear Friends, 

Greetings from the NEL Property Champions.

We are expanding our listings for sale and rentals and would invite you to consider our services.

NEL Property Champions are a team of Real Estate Salespersons who have a passion for properties in the East and North East.  Over the past few years we have built a successful track record in both sales and rentals.  We have our base training in showflat, and as such we will market your property as such.  

A showflat, with intensity and impeccable standards.

Our mission and standard is a simple one:  

"To take the best in the market, and then deliver results in excess of the competition."

Take some time to see what our clients say about us:

http://sg-realestate-sg.blogspot.sg/p/testimonials.html

Do take the time to review our track record and contact us.

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/
Sales Enquiry: mervintang.huttons@gmail.com

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

Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html

Resale & Rental GTA: http://nelpropertychampions.blogspot.sg/

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/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html

Huttons Asia Pte Ltd VS The OTHER 2 Big Players

Home > Questions & Answers > Question Details

I just passed my RES exam. Looking to join an agency. Anybody from Huttons or OrangeTee? Thanks

Posted by Anonymous - 2014-10-28 22:54:03 - Viewed 140 times

Answers (5)

Mervin Tang

Posted 2014-11-04 01:28:09

Hello!!

Greetings,

First of all, YES I am from Huttons Asia Pte Ltd, we and Huttons International make up the Huttons GROUP. Never been to nor considered joining anywhere else since I started in this business.

Associates in either company are able to cross sell both local and international projects within the spheres of the respective organisation.

Thank you for your interest in our company, we are the fastest growing real estate company, as of 2013, we are the 3rd in terms of sales force by headcount BUT AS of 2013, THE MOST profitable real estate company for 2013.
(See article "TOP Agencies by sales force")

The above is a simple function that the Huttons Group was well positioned even before the Real Estate Market difficult periods that have led to a slump in revenue and profits of the other companies. We have a natural strength in NEW LAUNCH Projects simply because we were founded with project sales as the main base (most other agencies are trying to catch up now), and we have been in the International Projects field for sometime, and again, other agencies are trying to play catch up.

Project sales is a skill as much as it is agency culture driven. There is a reason why developers give exclusive sales rights to the Huttons Group while other agencies have to form alliances to bid for projects. This is not a skill/culture learnt/built overnight.

In a nutshell, agencies who do projects ARE able to concurrently do resale & rentals and ALL other secondary market activities. On the other hand, Secondary market focused agencies will find it tough going to switch into New Launches.

The path of project sales IS tougher than resale. Anyone can open a door, but how many can sell a dream?

Let's meet and you can find out more.

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/
Sales Enquiry: mervintang.huttons@gmail.com
Career Discussions: http://sg-realestate-sg.blogspot.com/
Testimonials: http://sg-realestate-sg.blogspot.sg/p/testimonials.html

Huttons Asia Pte Ltd - Resale Top 10 Producers, August 2014 : Joanne Yeo