Property Agents make A LOT of Money

anyone bros have any good uplines to recommend?

I am considering of changing one, even if the new manager is from a different company.

btw i am from Huttons.

It's in the TV news. Agents make 5-8k per transaction. One star agent even made 80k in just 5 months!

Wow. It's time to quit my unrewarding job (monetarily and emotionally) and BE A STAR AGENT!

Chiong ah...

But wait... I heard we have to pay $700 to $1000 to undergo their training and have access to their shared services? Or was the TV news an advertisement in disguise? The more agents they have, the more the agencies earn.

Nevermind, whatever, chiong ah!

More professionals becoming property agents as market sentiment improves

The buoyant property market in the past six months has attracted not just home buyers but also mid-career professionals who have made the switch to become property agents.

Industry watchers said there are about 26,000 housing agents in Singapore and this number is likely to go up to 40,000 if the positive market sentiment continues.

During the lull in 2008, there were less than 20,000 agents. Since February, property agencies are hiring as many as 300 new agents every month.

ERA Asia Pacific said it has about 45 per cent more new hires in the first half this year compared to a year ago.

PropNex is getting about 200 new agents a month on average this year compared to about 165 in the previous boom period in 2007.

One pull factor is the higher commissions from private property sales as property prices continue to climb. Last year, property agents made about S$5,000 per sale last year.

Eugene Lim, associate director, ERA Asia Pacific, said: “There is a transition period, meaning that there is a learning curve. People making career switches tend to be very focused and learn very quickly.

“Once they are on the job and if they do property sales, an average per month is currently about S$6,000 to S$7,000. For private property rental, which some new people start off with, you can get average of S$3,000 to S$4,000 for a deal.

“The slightly more experienced ones will have higher volume because they are more established in the market. It’s not uncommon to see a top producer in the company doing in the region of about S$50,000 to S$100,000 a month.”

Mohamed Ismail, CEO, PropNex Realty, said: “We had one agent who has been in the airline industry. She was a senior crew for almost 19 years with our national carrier. She felt she might be retrenched and that’s what prompted her to come in attend our courses in the month of February and March.

“She started in end-May and in the last 2.5 months, she closed transactions worth about S$87,000.

“If I look at those who are fully committed, even for newbies in the industry, earning an annual income, a conservative estimate of S$60,000 a year, is not a difficult task.

“When I break S$60,000 in 12 parts of a year, it’s S$5,000. Imagine for a month of 30 days and the agent serves one client, selling a 4-room HDB house and either downgrading or upgrading to another house will give him a decent commission of S$5,000 to S$7,000.”

Property agencies said they are also seeing more professionals with post graduate qualifications joining the industry.

Mr Lim continued: “In 2007, when the country had full employment and market was surging, we attracted people with short-term perspectives. This time, we are attracting quite a number of people who are higher qualified, making a mid-career switch. So they tend to be diploma or degree holders. Some even hold masters degrees.”

Overall property sales are on the increase. Transactions of HDB resale flats were up 50 per cent in the second quarter this year compared to the three months before it.

The number of new private homes sold in the second quarter this year was more than the total figure for 2008.

But in a boom period, agencies advise homebuyers to be cautious of rogue agents.

Mr Lim added: “In any business, there will always be rogue agents. This will tend to increase when the transaction volume increase and also when the market is going up. Yes, we do hear of such cases and in-house, we have this policing process.”

He said agents who behave badly will either be counselled or have service terminated.

Source : Channel NewsAsia – 28 Jul 2009

[CarSalesMan]

sell car better. no need to bring customer see 20 houses, than buy house from other agent. dun need to arrange appointment, dun need to call co broke agent. no need to pay for own name card....or own advertisment.
also one mth earn 20 k drive z3

Originally Posted by Gillian--

Hi guys,

It's so sad to see that generally, in Sg, everyone who is employed is always so busy making a circus of other industries and how much other people make, and how much they can be cut in terms of payment etc etc.. It truly is sad to see this happening. I've been self employed for a long time now, 7 years in real estate to be exact, and I can tell you, what you read in the ST is not always accurate, if ever.

The reality of real estate, is that out of 10 new comers, 1 will succeed to last at least a year, out of the ten that succeed,3 will remain the industry, the rest will always be "part-timers'', these are generally the people who charge 1/2 commisions receivable, or discount agents as they are generally know as. I'm not even going to go into the debate of why their services may be inferior to that of a professional fulltime realtor.



Lets look at cost vs income of a realtor.
Income $10-$20k/monthly(before expenses) for eg:
Marketing- $800- $2000 on fliers and distribution
Advertising- $360- $8000
Travel- $400- $800 for Gas
Car- $500-1500
Phone bills- $250-$800
Work hours- Average 8-16 hours daily, includes weekends

At anyone time, we have to look at about or up to 30% of the commissions cut due to
-Seller decides not to sell/ goes missing after sale is complete
-Undercut by discount agents
-Buyers not being truthfull/ faithful to the realtor servicing them, ends up buying from other.
-Let your imganition work out other reasons.. I've seen too many:/

Now, figure out what's really left after everything has been deducted.

Lets also look at employment vs self emploment

Pros of employment that do not exist in being self employed:
-Fixed hours/ days
-Fixed Holidays
-Fixed salary
-Fixed bonuses
-Fixed medical & insurance
-Days off/ Leave entitlements
Amoungst other things..

What I'm trying to get at is that it is a good business to be in if you're prepared to be self employed, but as with anything else, it is not a sales job, it is a business that must be run accordingly in ordder to sustain oneself and the family he/she provides for. Yes, there are ways to cut cost but really, how much cost can be cut before the business starts to suffer.

Also, pls note that the only entity making any real money from recruitment itself is the brokerage, but then again, that has it's running cost as well.

Please dont be mislead that all realtors are poor, but pls also dont be mislead that all realtors are rich and deserve to suffer at all cost..lolz..


My heart goes out to the realtors struggling to survive during this down time.

downtime? do visit show flats this weekend of you are free.

Anybody knows where this "A LOT of Money" come from?
It must come from somewhere right?

[Husky]

Originally Posted by Goondo

Anybody knows where this "A LOT of Money" come from?
It must come from somewhere right?

Comes from the future. I see a lot of young couples taking up loans here loans there... Buy $600k flat, but $120k cheong car.

If nothing goes wrong, both husband and wife manage to continue holding on to their decent paying jobs... then okay lah...

The way I look at it, maybe a few years down the road, we will have our own version of the sub prime crisis...

Originally Posted by CarSalesMan

sell car better. no need to bring customer see 20 houses, than buy house from other agent. dun need to arrange appointment, dun need to call co broke agent. no need to pay for own name card....or own advertisment.
also one mth earn 20 k drive z3

I agree with your entire statement, but of all cars why Z3?

Originally Posted by why??

I agree with your entire statement, but of all cars why Z3?

cos z3 is neither here nor there, and is suitable for people who're also neither here nor there, like car salesmen with sub o-levels earning more than what their potential actually allows.

Originally Posted by CarSalesMan

sell car better. no need to bring customer see 20 houses, than buy house from other agent. dun need to arrange appointment, dun need to call co broke agent. no need to pay for own name card....or own advertisment.
also one mth earn 20 k drive z3

Hi CarSalesMan, just curious, wat brand r u selling ??