Property agents of Singapore

kennethhere123

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I am currently thinking of switching my career into as a property agent but I’d like to hear about your opinions as well. Currently I’m drawing about 3-5k monthly (also a sales job) but I found out that I no longer have any new things to learn and would like to venture into different field. Pls do share ur experience gorgor zehzeh!!
 

Cryophoenix

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I am currently thinking of switching my career into as a property agent but I’d like to hear about your opinions as well. Currently I’m drawing about 3-5k monthly (also a sales job) but I found out that I no longer have any new things to learn and would like to venture into different field. Pls do share ur experience gorgor zehzeh!!
No need to switch your career.

Stay in your job, collect the $5k monthly and do property agent biz on the side.
 

kennethhere123

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I can’t do that because my current sales job requires a lot of my commitment as well sobsob plus I believe for property you’ll only be able to reap fully if you commit fully isn’t it
 

Cryophoenix

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I can’t do that because my current sales job requires a lot of my commitment as well sobsob plus I believe for property you’ll only be able to reap fully if you commit fully isn’t it
It's good to test out if the property agent job is suitable for you by doing it on the side first, then you can decide further.

If it doesn't work out => at least you still have full time job to cover
If it works out => can consider quitting your job then
 

feng1314

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I am currently thinking of switching my career into as a property agent but I’d like to hear about your opinions as well. Currently I’m drawing about 3-5k monthly (also a sales job) but I found out that I no longer have any new things to learn and would like to venture into different field. Pls do share ur experience gorgor zehzeh!!
Please follow Kenneth's advice.

I have been doing this for 9 years and can tell u that real estate is not for everyone.

Ur current pay is better than most average property agents.
 

aabbccddeeffgg

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Era top agents grossing in millions, top 5 average all below 40, average 3.12million

big money to be made. Think top 300 also have 300-500k a year?
 

kennethhere123

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Era top agents grossing in millions, top 5 average all below 40, average 3.12million
big money to be made. Think top 300 also have 300-500k a year?
That’s why I wanted to venture into property because if it doesn’t work out, I can always head to my previous line since I’ve the ‘experience’
 

Luc777

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No need to switch your career.

Stay in your job, collect the $5k monthly and do property agent biz on the side.
im doing this full time

i second phoenix's suggestion

but of course still depends on your own situation

if you young, no commitments want pia, all in full time might get you results faster too since you have sales exp

but if you have family commitments etc, discuss with your family first

because you need to consider that other than the main source of income, you are also losing out on the employer's cpf, annual bonus etc

if you are financially comfortable at the moment and you can tank for at least a good 6 months, i will say you should be relatively ok to tide it out during the initial stages

those millionaire stories can be a source of motivation but

i will say to be more grounded and if you really do reach there level, take it as a bonus and congratulations :)

first few months might be tough because of the capital outlay

a guru account will set you back around 2k for the lower tier one and there's still 99.co, srx, edgeprop etc
and depending on how you use the credits, it's like a p2w system to me. should be relatable if you are into gacha games :s13:

add on the registration fees, expenses such as client relationships, advertising fees (depending on what type of channels you are looking at), i will say a good 5 to 10k minimally can go to annual expenses

of course the good side is the flexibility and if you work hard enough (or get lucky), work 3 months can chill whole year. :s13:

meaning, the flip side might happen too. you might go through a drought for a period if times are bad

for myself, im not a satki agent by any means. my family background is ok in the sense that i dont really have to help out much, so if i can get by with a monthly nett of 3-4k after deducting all expenses, im good

really depends on your personal contentment level

just my 2 cents
 

aabbccddeeffgg

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im doing this full time

i second phoenix's suggestion

but of course still depends on your own situation

if you young, no commitments want pia, all in full time might get you results faster too since you have sales exp

but if you have family commitments etc, discuss with your family first

because you need to consider that other than the main source of income, you are also losing out on the employer's cpf, annual bonus etc

if you are financially comfortable at the moment and you can tank for at least a good 6 months, i will say you should be relatively ok to tide it out during the initial stages

those millionaire stories can be a source of motivation but

i will say to be more grounded and if you really do reach there level, take it as a bonus and congratulations :)

first few months might be tough because of the capital outlay

a guru account will set you back around 2k for the lower tier one and there's still 99.co, srx, edgeprop etc
and depending on how you use the credits, it's like a p2w system to me. should be relatable if you are into gacha games :s13:

add on the registration fees, expenses such as client relationships, advertising fees (depending on what type of channels you are looking at), i will say a good 5 to 10k minimally can go to annual expenses

of course the good side is the flexibility and if you work hard enough (or get lucky), work 3 months can chill whole year. :s13:

meaning, the flip side might happen too. you might go through a drought for a period if times are bad

for myself, im not a satki agent by any means. my family background is ok in the sense that i dont really have to help out much, so if i can get by with a monthly nett of 3-4k after deducting all expenses, im good

really depends on your personal contentment level

just my 2 cents
How is your earning like and number of cases closed?
 

Luc777

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How is your earning like and number of cases closed?
my 3rd year now.
first 1.5 years can say close to zero. pushed away a couple of cases because i felt the clients were overstretching themselves and i did not want to play a part in getting them to make a commitment they might not be able to sustain, but thinking back now, i was too emotionally vested in them. my role is to advice and leave the decision making to the clients. i learn to be more objective and neutral now. OP with prior sales experience should not have this issue i guess. :s13:

from mid last yr till now maybe around 10 cases with 120k? some clients had a buy and sell, so count as 2 cases.
amount to me is definitely significant but after you deduct the expenses and also the cut company takes(varies from 10-30%) and further divide it by 3 years. not exactly alot. well hopefully, i do continue to roll in more dough this year.

and the commission from last year's deal came this year which will stack and make this year's income tax tier kinda gg.
this year i paid zero. :s13:

i'm still new to this line, so i really have no idea how much the average agent out there earns but i assume it will most probably be more than me. perhaps feng might have more insight on this. and partly because i choose cases too after encountering several scenarios during my first two years.
 

winorlose

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Personally, real estate has also evolved into a more advisory role for clients. Thats where we value add.

Last time used to be buy sell rent.. but different now. Must be able to identify good buys, good locations, growth areas

Now with absd, decoupling, asset progression.. there's alot more data that pty advisors need to churn out for clients to research on if not they might think you dunno your ****

Its time consuming but with alot of research portal and data with a click.. it streamlines alot.

The tough part now is actually catching clients' timeline nowadays.. since sell and buy need proper timeline planning if not they will sleep in streets. Alot of clients actually rent shortterm or 12mths while waiting for their new place to be ready be it resale or brand new.
 

Luc777

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Personally, real estate has also evolved into a more advisory role for clients. Thats where we value add.

Last time used to be buy sell rent.. but different now. Must be able to identify good buys, good locations, growth areas

Now with absd, decoupling, asset progression.. there's alot more data that pty advisors need to churn out for clients to research on if not they might think you dunno your ****

Its time consuming but with alot of research portal and data with a click.. it streamlines alot.

The tough part now is actually catching clients' timeline nowadays.. since sell and buy need proper timeline planning if not they will sleep in streets. Alot of clients actually rent shortterm or 12mths while waiting for their new place to be ready be it resale or brand new.
haha i was super stressed for a hdb case recently. i more gan chiong than my client.

first time doing hdb so didnt know there was so much uncertainty for hdb dates like completion etc. all at hdb's mercy.

but thankfully, the buffer we planned ahead all enough to settle swee swee for my clients to transit from the hdb to their new resale condo straight away. then relieved liao. :s13:

theory is one thing. must encounter and go through(with stress for noobs like me) then will learn alot alot faster. but shiok la the feeling when you see all done swee swee.
 

winorlose

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haha i was super stressed for a hdb case recently. i more gan chiong than my client.

first time doing hdb so didnt know there was so much uncertainty for hdb dates like completion etc. all at hdb's mercy.

but thankfully, the buffer we planned ahead all enough to settle swee swee for my clients to transit from the hdb to their new resale condo straight away. then relieved liao. :s13:

theory is one thing. must encounter and go through(with stress for noobs like me) then will learn alot alot faster. but shiok la the feeling when you see all done swee swee.
The sell n buy timeline need to grasp properly esp when cpf funds are involved. Hdb dates are also like a questionmark so always cannot have an exact date, just need to buffer the timeline. :)
 

KPO_SAHM

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I am currently thinking of switching my career into as a property agent but I’d like to hear about your opinions as well. Currently I’m drawing about 3-5k monthly (also a sales job) but I found out that I no longer have any new things to learn and would like to venture into different field. Pls do share ur experience gorgor zehzeh!!


Side line or part time is ok. I would suggest u don commit to full time. U have a fixed pay now . Property agent sometimes no sales in one or many months.
 

KPO_SAHM

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haha i was super stressed for a hdb case recently. i more gan chiong than my client.

first time doing hdb so didnt know there was so much uncertainty for hdb dates like completion etc. all at hdb's mercy.

but thankfully, the buffer we planned ahead all enough to settle swee swee for my clients to transit from the hdb to their new resale condo straight away. then relieved liao. :s13:

theory is one thing. must encounter and go through(with stress for noobs like me) then will learn alot alot faster. but shiok la the feeling when you see all done swee swee.


Recently wanted to buy 3rd properties using my MIL name. As mIL is first time buyer for HDB she is entitled some grants and we needed to know some rules and regulations too. The problem was the agent was not aware of all the details and so on + we ware tied down to 5 years by hdb as my father bought a 2rm using our address . Lots of constrains and so on for my MIL. Ended up we had to follow up and called hdb.

I do agreed hdb is not an easy deal as hdb is not very clear and information provided on the HDB internet may not be detailed . CS from HDB needed to consult another party and we had to write in to get the black and white
 

icebandung

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not an agent but from what i heard, when times are bad it's really damn hard to make a sale and earn commission. being an agent now seems very attractive cos the market also very robust. but if got cooling measures (which may or may not be happening soon), the market's gonna be affected, just like every time cooling measures are announced. so best to have it as a side hustle first to test water
 
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