Property Agents make A LOT of Money

I remember evenings cannot quite have confirm family outings, unless it's a special occasion. Most of the time I get suck into work that I'll be angry if my wife plans for the evenings. Now to think back, it has been hard on her.

Actually in Singapore I think passive income is much hype. To me there is no such thing as passive income. Some say insurance line has passive income, sell on time, get passive income. But really in reality there's no escaping when clients call. I am now a firm believer that there must always be input to have output. Nothing will keep paying you for nothing, unless you give them money. So for me passive income is that 3-5% returns either in real estate leasing or bank FD or bonds. So for me the target is 5M by 2013. What's yours?

Real Estate is truly a real business. It has a very low start up cost with the highest turnover.
Commenting-Time for family is to be managed by individuals priorities.
Commenting-Sales is based on conversions ratios. To improve conversion ratios, one has to constantly upgrade and improve their own abilities.
Many blame the business model and not themselves for not able to succeed in this industry. Many fail because of lack of knowledge in the marketing budget, failing to maintain consistant prospecting efforts, poor time management and wrong sphere of influence.
The agent you see at the void deck after 7pm is a salesman and not a businessman.
This business NEEDS employees!! Meant to prospect everyday, to do house viewings, to take charge of the marketing, for admin support, for flyer distributions, for networking with clients, for recruitment support, research work and many more..
An agent should be a CEO of his own business. Our real job is to ensure that all aspects in this business is covered by sufficent employees and that job scopes are effectively delegated and leveraged.
Market conditions can be bad, but business is still good.

Its saddening to see negative comments here, if an agent cannot make $$ in his first month, if he has no time for his family, if he is working too hard as an agent, if he made $20k a mth but failed to be consistant, who should he blame??

Conclusion-All agents do business differently, there is no such thing of average income in this real estate business. If you really need an average to gauge; one can earn between $2k to $100k per mth . There is no such thing as full time or part time agents. It is their own "Business".

Its now a battle between academic smarts and the street smarts. The streets taught me how to make money, schools help me educate employees to help me make more money.


To all agents:- Good luck!
To non-agents:- Join Us or Ignore us!
To ex-agents:- Come back to us, we miss you!

To All:-"If one cannot make money without money; what makes you think that one can make money with money?"


All the best!!

Just a 24 yr old guy commenting..
Email: [email protected]

i have no idea what you are ranting about. times are bad. brace yourself. good luck,

i have been in small property company for quite some time now and i share the same sentiments for wat all the agents have shared. doing poperty in singapore is very competitive and most of the time the big boys get all the luck.most of the clients put their trust on the agents who wear land yard and have flyer with their face on it. i have been through many appointments where the big boys didn't have to do any thing but just brought in "potiential buyers"(fake buyers) which inpressed the seller and on the spot the seller gave them the exclusive of the place.
i also had agents telling me their seller didnt give them commission and wan half of my com if my buyer wan to buy the hose.
i also had buyer who didn't trust my experience in the property bussiness and engaged a director just to come negoiate on the price of the house.
what i'm trying to say here is if u wan to make it in this bussiness. do wat the romans do? if u wan to be a lone ranger like me u got to accept any thing tat comes yur way and eventually u will successed. good luck, save cost make lots of money.

To: Alex-Px

Dun fine me offending, but would like you to answer few of my questions as I find your reply very different from others. I would think that agent boy75 makes a very good point about cost saving in order to make more $. Because we can be earning $20 grand a month but our advertisement cost and transport cost will kill us if we dun manage them properly.

You are right to say that we should be "manager" to manage our "runner" to do the admin support for us. But to me, in order to do that, first of all we must have a consistent amount of closing so as to spend on this runners.

I do not quite agree that those agent that you see after 7pm are salesman and not bizman. I have men seniors who brought viewers to view HDB flats but they are top achievers in the company too. Are you referring to those HDB agent are just salesman and not truly an agent? I do not know if this is what you mean but definitely those selling HDB flats now are the survivals in today's market. Just read more and you'll know.

1. How many years are you on this market?
2. May I know you income per month in order to substain your biz model?

Dun mean to be offensive but i just find your post interesting...

To Simple Agent:
My post is meant for a comment. Please take it lightly.

I would like to comment on why are most agents killed by advertisement cost is due to their lack qualifying the listing. Most of my properties are taken within 3 advertisements. I will NOT advertise units that will not sell. Newspaper ads is one of my many marketing tools which is also the most expensive and not-so effective way of marketing. I will classify advertisement cost as an investment rather than an expense. An agent who invest in the wrong listing is similar to investing in the wrong stock. An adverisement of $200 should generate at least $2000.
I apologize if I offended anyone regarding the 7pm salesman and businessman issue. My intention is to highlight that there are many ways to do this business. Top acheivers may not necessary be good business people; or rather, they are good just good sales people. Good business people should have systems and people in place so that they can be away for the operations 80% of the time thus having more time for 4 vacations per year together with their family and loved ones. This quality Time should also be spent on networking, prospecting, lead generation, spotting of opportunities and overall business responsibility.

I beg to differ your statement that HDB flats are survivals in today's market. I have been transacting more private properties this year despite the slow down. I have done more than $400k in sales in Two years but I can say approx 50% is kept to invest back into the business for expansion purposes.

You might say that we need a consistent income to fund the runners. But in my point of view, Runners should be trained to do exclusives and closings and they are on a no-closing no-pay basis.

There is no right or wrong in this business as I mentioned. Its just different people doing this business in different ways. Everyone has different goals, I hope to achieve an automated model rather than to sell more houses.

We can choose to set up a fruit stall in the HDB heartlands or to package our fruits distributed in international supermarkets-A concept by Adam Khoo.

This is not a monthly income business, it is rather, an annual income business. An agent doing $20K a mth may not outlast an agent doing $5K a month consistently in the long run. "A bubble tea business and a tea manufactuer company" as a good parable to explain my point.

Please see this as a personal sharing exprience.
Please do not be offended by any of my statements.
We can discuss more of this offline for a clearer understanding if needed.
Email: [email protected]

Cheers!

Alex Px: Just a suggestion: if your model works, why not write a book on it. I'm sure it would bring in unlimited income,e.g Rich Dad Poor Dad

to the one who calculated that Directors make more than $30K per month on overriding:

WAKE UP.

Or better, get your facts right and JOIN and AGENCY. Stop talking nonsense.

I AM A MARKETING DIRECTOR of the largest agency in Singapore.

I have one new recruit and another very excellent experienced female agent who made $140K last year. Her income this year from property: $0.

The new agent: $0.

Even if the experienced agent made $140K this year again (unlikely, last year was a bonanza), I would have only a 6% overriding, which is only $8400!!!! ONE YEAR!!!! Even someone working in McDonalds part time can make more than that in HALF a year!

And, did I mention that she was a very good EXPERIENCED agent??? She made ZERO this year.

My colleague just called to ask after an ex-colleague who dropped out and we learnt that he cannot be in the business anymore because he cannot afford to advertise anymore.

Now, GET YOUR FACTS RIGHT before spouting nonsense.

I really cannot take it when I see self-righteous fools typing nonsense with figures 'plucked from the air' without anything to back them up.

Might as well join the Straits Times and claim that the AVERAGE agent makes $10K a month. Jeez.
The ignorance is shocking.

And yes, as a Marketing Director, I have ONLY 2 downlines. (Unlike your fanciful mlm castle theory).

To be a marketing director, it is not that tough, just hit enough sales. You can even be a director without downlines. One man show. Just hit the sales figure required for promotion and you will be promoted.

Marketing Director earns $30K on over-riding? You must be dreaming.
that must be the most ridiculous statement I ever heard.

so many of my director's new recruits drop like flies... . This is a tough industry and I cannot even count how many drop outs I have seen come and go. Do you even realise HOW MUCH EFFORT it takes to take a normal Joe on the street and train him to become a producing agent who can actually feed his own family???

I think, since the beginning of the year till now..... with ALL of the new recruits my director (my upline) has been bringing in... I can say that the TOTAL commissions brought in by these clueless newbies is DEFINITELY less than $10,000. And I am talking about 16 of them added together. Now, even IF they made $10,000 (total), my director would have only over-rode a super grand total of $600. Not bad for 10 months of motivational work eh! No wonder he is more interested in serving his clients than to recruit.