Mindset of a Successful Realtor

What is stopping your success story in real estate sales? Bruce Lye and I had a deep discussion on this when we were enroute to Myanmar to check out their real estate scene earlier a week back. Some of what we shared among each other were facscinating since they were all common when we were aligning them.

Ps. This applies more to self employed environment to most real estate salesperson in Singapore. If you can relate to it in your market, we do hope this is useful to you.

pioneersappreciation

1) The Ones that has ideas

They have the best planned routes, with back ups and the best text book answers for their real estate sales path. They consulted all the best people in the world for ideas. The ideas eventually… remain as ideas. We have the highest attrition rate here when it comes to this category who joins the industry.

The main problem is with the motivation of this group is not strong enough for them to overcome their physical and mental barrier to act on what was being advised, even if the advice could be sound. They did not act on their own belief or advices that was given.

They think they tried.  Continue reading “Mindset of a Successful Realtor”

Singapore Real Estate – Downtrend Unlikely to Continue

As buyers are waiting for the market to dip further with news such as Japanese billionaire Katsumi Tada losing $15.8 million (SGD) on his St Regis penthouse, here are some news that is happening around the world and in Singapore that could make you think a little bit more why waiting might not be the best thing to do.

World Stimulus Plans in order

China stimulus plans

These are some abstracts of what happened just a month odd ago in China, the biggest concerned market in the world.

CHINA DATA: Earlier, sentiment was supported by Chinese data showing consumer inflation remained at 1.4 percent in March, well below the government’s official target. That fueled expectations the central bank might launch new stimulus to fend off deflation. Low inflation is a boon to consumers but a bout of potentially damaging deflation could add to fears about the Chinese growth outlook.

CHINA STIMULUS: “We expect possibly the weakest” growth in China this quarter since the 2008 crisis, “and thus more easing,” Citigroup economist Minggao Shen said in a report.

Japan stimulus plans

NIKKEI RECORD: Japan’s Nikkei 225 closed down 0.2 percent to 19,907.63 after rising above 20,000 for the first since April 2000 during the morning session. The gains were based on expectations for Japan’s economic recovery and brisk corporate earnings, following aggressive monetary stimulus. The benchmark index, however, could not sustain that level as investors turned to take profits.

With any stimulus, there will be more money flowing which supports strong inflation for months to come, especially with markets like China and Japan. Real estate no doubt has always shown and is one of the most preferred asset class to combat against inflation.  Continue reading “Singapore Real Estate – Downtrend Unlikely to Continue”

Realtors – Improving your Productivity

People are usually curious how a full-time real estate agent schedule looks like, since time is being managed by them freely and they have the rights to choose when, and when not to work. Here’s a glimpse of my typical week.

A typical week in the life of Benson
A typical week in the life of Benson

My schedules are usually packed and yet spaced carefully for more opportunities to appear as the days unfold. What could have helped me and made all these even possible? These are the tools which I’ve embedded in my daily life.

Calendars

The default calendar works well in my iPhone and Macbook but I’d usually love to spice it up so that it looks colorful and fun. (Would be nice if any app dev does something that breaks down the different calendar to show the number of hours utilised!) This is extremely useful when you’re cooperating with your team mates since you can invite them and vice-versal.

The apps I use are WeekCal for my iPhone 6 Plus that syncs with iCloud. I do use Sunrise occassionally which syncs Evernote and phone reminders in as well for a great quick overview of what needs to be done for the next 3 days.


Rose, my abled assistant also takes care of my working partner Bruce and my time by managing a shared calendar on our personal and joint events.

Evernote

People who knows me know I’m a strong advocate of Evernote. I practically use this to keep track of all my leads, forecasting, team manage and remind myself of the tasks and big picture ahead. The functions are endless and practical, but these are the most important ones.

Search Box

Search box allows me to find my things very quickly as a very heavy EN user. Everything in my way gets into a notebook and it gets special attention when I have time to rearrange them later. People don’t really have to know how messy you are as long as you are fast to recall or could get to your documents fast. As the notes get very heavy, tagging is useful.

The OCR recognition has time to time proven it’s worth as well since the team mates and I share a common notebook with articles. These articles are essentially good for us to keep up with the history and latest of what is happening on the search subject and allow us to communicate better with our clients.

The search box is the best tool of Evernote
The search box is the best tool of Evernote

Continue reading “Realtors – Improving your Productivity”

Thoughts on Khan Boon Wan – Soft Landing for Housing Market

MND Minister Khaw Boon Wan has mentioned on Tuesday that the government wants to see ‘soft landing’ for Singapore’s real estate housing. You can read the report from CNA here.

Looking at what was being discussed, especially some key highlights here

“”We want a soft landing for our housing market because a market crash benefits no one,” Mr Khaw said.

“Ms Foo and Er Lee Bee Wah suggested that we adjust the Additional Buyer’s Stamp Duty, especially for Singaporean buyers, when we are ready to unwind the cooling measures. I have also heard Dr Lily Neo’s very thoughtful words of caution.

“Indeed, we should not overkill. The property market is in transition and it is a time that calls for vigilance and nimbleness. We will be careful.”

I would think that the Government would probably do some calls to ease some of the measures already in placed soon, as prices have really eased off quite extensively on the public and private housing sector.

As we know the depressed housing prices was caused mainly by the government policies and measure, natural market forces are changing the scene as mortgage interest rate crepes up steadily for the past quarter as the US dollar continue to strengthen, which stresses Singaporeans and foreign real estate investors as a whole.

A heavily corrected local real estate market prices will not benefit everyone as it defies the initial key goal of HDB by creating wealth for Singaporeans through their homes. As long as homes become more affordable, the measures would have served its purpose. If there’s in-between lines that I am reading or even if not, we should be ready for some measure lifts.

An Open Letter to Marina One

Dear Marina One,

I wish you would have been launched at the time when the loans are easier, at least I know I could leverage myself better to get at least a yummy 1-bedroom unit which you have meticulously designed for any future tenants which I could host. Generous Miele suite for all kitchen appliances, V+S sanitary ware, good size white volaka marble slabs, and even a cute walk-in wardrobe for the 1-bedrooms. Not to mention you have balconies! *sigh* Wish your 1-bedrooms would have a more undesirable facing but almost all of them would be facing a well taken care landscaped HUGE indoor garden of almost 65,000sqft!

1-bedroom showflat at actual site in Marina One
1-bedroom showflat at actual site in Marina One

I feel jealous when most of the units are snapped up so quickly when you’ve decided to price yourself so fairly especially for the low floor units. I wouldn’t mind snapping up at least one if you would have allowed me to take my loan from the banks. The TDSR is killing almost all of us who fell in love with you. You have disappointed not only me, but many whom have tried talking to the bank and failed to get an in-principal approval. I’ve seen even foreigners wouldn’t mind paying the extra 15% and many of my fellow countrymen who already has more than 2 properties paying 10% on top of their stamp duties just to own at least one of you. Continue reading “An Open Letter to Marina One”

5 Crucial Reasons why New Realtors Fail

ps. this is a rerun from 2011, but I suppose it deserves some love since its the time when Realtors decide to join the industry or make the switch.

There are many reasons the joining and dropping rate for joining the Real Estate family as a full-time professional Realtor is high.

Correct me if I am wrong team leaders, but the true and the hard facts of helping every team mates to the best of your extent does not always help and sometimes it might even backfire on you.

Before any individuals who decided to join the industry, these are thoughts which should be useful to form some opinions of our industry before you plough your money and time into joining us (yes, before you even take your RES course please),

Continue reading “5 Crucial Reasons why New Realtors Fail”

How do you decide which Real Estate Company to Join?

Many new Property Agents especially before taking their exams are wondering what are the best prerequisites of which property agencies to join after clearing their RES papers. Here’s a few of what is important in my take on which ones to go for after consulting a couple of friends running the Real Estate agency business.

Branding

A way to identify whether a particular Real Estate Agency has its brand close to everyone’s heart would be how much a reach an Agency has over its audience. They typically would command a decent number of realtors in terms of market size for this to happen. It also holds true that the longer a brand is in the market, the reach is more mature.

Only practicing Realtors would be able to identify and see the growth of different Agencies since they are in touch with the market, else new Realtors would have to seek help from practicing friends on their feedback.

Some do have their different strength in different segments on the market. Niche franchise brands where numbers are smaller might have a certain reputation for being in segments such as private, commercial or even luxury residential. If you are looking for a certain niche to start with, you could start by exploring on the reputation of the agency as with how much you can leverage.

Generally you would hear of groups or divisions of Realtors carving their own branding, which are much more prominent and active in the market as well. Their choice would usually be a brand that sticks and is more prevalent, as they would rather much concentrate on their sales instead of worrying about the Agency they are in.

Continue reading “How do you decide which Real Estate Company to Join?”

New Master Plan 2014 is Gazetted

After a long time wait, the Chief Planner has finally gazetted the new plans which will determine the land laws for the next 5 years.

Published Date: 06 Jun 2014

The Chief Planner has gazetted the Master Plan 2014 on 6 June 2014. The Master Plan 2014 is the statutory land use plan that guides the physical development of Singapore for the medium term.

As part of the Master Plan, all 75 heritage buildings proposed for conservation under the Draft Master Plan 2013 were also gazetted today. See Annex A for the list of buildings.

The gazetting of the Master Plan concludes the year-long review of the Draft Master Plan 2013, which was exhibited in November 2013 for a month at The URA Centre Atrium and URA website. During this period, the exhibition attracted some 61,000 visitors, and the website had more than 513,000 page views. The review also involved consultations with Members of Parliament, grassroots leaders, professional institutions and other stakeholders. We thank members of the public for their positive and constructive feedback.

Read the full release here. To view the gazetted Master Plan 2014, you can browse it here.

Ritz at Farrer Attractive Guaranteed Rental Returns

It’s something too good not to miss. Seriously!

Ritz at Farrer is offering 5% guaranteed rental returns to your purchase of selected apartments for not one, but two years. Sitting in a great freehold location, this mixed development is already a great project to begin with. And this offer is only for a limited time.

Ritz at Farrer Night View (artiste impression)
Ritz at Farrer Night View (artiste impression)

Ritz at Farrer Project Information

Address – 142 Race Course Road
Tenure – Freehold
Development Type – 18 Apartments with 2 Commercial Units on Ground Floor
Developer – One42 Development
ArchitectRonny Chin Architects (RCA)
Unit Types – 1+1-bedroom, 2-bedrooms, 2+1-bedrooms, 3-bedrooms, 3+1-bedrooms, 2 shops
Ready by – 2016 Q2
Facilities – 2 Rooftop Outdoor Pool, BBQ, Outdoor Gym, Cascading Waterfall features Continue reading “Ritz at Farrer Attractive Guaranteed Rental Returns”