Property Agents make A LOT of Money - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Property Agents make A LOT of Money

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #1 (permalink)  
Old 20-04-2008, 10:31 PM
Salary.sg
Guest
 
Posts: n/a
Default Property Agents make A LOT of Money

I think the Straits Times over-glamorised the real estate profession in its multi-page spread on "Rodeo Realtors" yesterday.

In terms of their income.

Maybe the writers were being very selective and showcased only the highly successful property agents.

But I don't think it's a stretch to say that the article may mislead a few young minds, much like the way some insurance agencies and MLM firms "encourage" their new recruits (see comment).

The ST article showcased 7 real estate agents:

- Male, 36, 2 months' experience, $10k average monthly income
- Male, 53, 2 years' experience, >$50k average monthly income
- Female, 35, 4 years' experience, $10k average monthly income
- Female, 26, 3 years' experience, $10k average monthly income
- Female, 38, 7 years' experience, $7k to $10k average monthly income
- Male, 36, 2 years' experience, $5k average monthly income
- Female, late 40s, >10 years' experience, >$26k average monthly income

But, according to the MOM Report on Wages, the top 25% of real estate agents make a gross monthly income of $4,647 (at the 75th-percentile mark). See post.

So the agents listed above are all in the top 25%, with 6 of them hugely successful by most standards.

Or, if these agents are the "average", there may be a discrepancy between the MOM numbers and reality.

Either way, people will be flocking to be property agents. Hopefully they will not be too disappointed.

http://www.salary.sg/2008/property-a...-lot-of-money/

Reply With Quote
  #2 (permalink)  
Old 21-04-2008, 12:09 AM
Ag---
Guest
 
Posts: n/a
Default 1446

I read the article and hmmm.. who should i believe the ST or MOM..
What is the reality?
These few years, estate is blooming, they will earn a lot. When market is bad, will they earn so much?

Reply With Quote
  #3 (permalink)  
Old 21-04-2008, 01:06 PM
wait and wait---
Guest
 
Posts: n/a
Default 1454

Reality is it's not possible to find the "average pay" for real estate. It can range from negative(after cost) to more than a million SGD per year. Also the pay is gross, so must still deduct expenses, about roughly 20% - 30%.

Property agents are not employees, they are considered business owners. Therefore a business owner earning a few hundred thousand dollars is ok when compared to other businesses.

It's only when you conmpare them to employment income then you feel they are earning alot. The popular curry puff owner makes alot more than $100k a year.

Reply With Quote
  #4 (permalink)  
Old 25-04-2008, 01:12 PM
SmartTrader---
Guest
 
Posts: n/a
Default 1496

I don't have information about what property agents take home pay is. But even if it is not $10K, $5K monthly is still a lot for a Sales position that does not require a Degree. All being said, when during downturn, the pay will be substantially reduced. Also, my perception is that there are more people making big as property agents than insurance agents. Just imagine 1% commission per transaction, average price of a HDB house is probably about $300K, you just need to close 1-2 deals a month.

The article may over-glamourize, but I feel that it is a very lucrative career if you are okay with house viewing on weekends and weekday nights.
Reply With Quote
  #5 (permalink)  
Old 25-04-2008, 08:07 PM
wait and wait---
Guest
 
Posts: n/a
Default 1500

I agree with smart trader that it can be a lucrative career only if one works hard and smart. No degree and earn more than $10k a month is very common in singapore. I remember there is an article in salary.sg about hawkers earning >$100k a month in sales. Even after say 50% expenses, still can make $50k a month. Maybe they don't even have PSLE.

I believe the higher your education, the less you will start your own business, therefore less chance to become rich. Being employed and earn $5k a month is good pay. Being self employed and earn $20k a month is normal.


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #6 (permalink)  
Old 25-04-2008, 10:34 PM
Vic---
Guest
 
Posts: n/a
Default 1502

Property business is the one for any who like to start to be your own boss with no high start up cost. Maybe some money for buying nice shirts, ties, handphone bills and transport fees. But in this business I think you must like sales and like to mingle with people from all walks of life.

However, you are competing with more than 30000 in the market and how you can stand out among them will determine how much you gain. The fear of not clinching a deal for months will make you sweat. I am sure there will be a lot that fail no matter how hard they try but the newspaper only feature those super successful. Anyway, no pain no gain.
Reply With Quote

  #7 (permalink)  
Old 28-04-2008, 10:32 AM
Reader---
Guest
 
Posts: n/a
Default 1533

My understanding is that a lot of those real estate agents DO NOT declare their true income to evade income taxes.
Reply With Quote
  #8 (permalink)  
Old 28-04-2008, 12:02 PM
Yet they boast---
Guest
 
Posts: n/a
Default 1534

@Reader - yes I think so too. Yet some of them have the cheek to boast about their astronomical income in newspapers such as the one mentioned in the blog article above.
Reply With Quote
  #9 (permalink)  
Old 28-04-2008, 06:41 PM
wait and wait---
Guest
 
Posts: n/a
Default 1537

Most of them only state about $10k a month. Don't think is boasting. In fact very humble already. Real estate agent if cannot earn > $10k a month is considered below average. Even sell cars also can earn about ths figure after including all the loan and insurance referral commission.

Anyway how much you earn is not the most important. How much you spend and how much you can save is. Earn $10k, spend $9.5k is not rich.
Reply With Quote
  #10 (permalink)  
Old 02-05-2008, 09:35 AM
earn and earn---
Guest
 
Posts: n/a
Default 1561

My property agent told me he earned more than 300K last year and 50K alone last month. And he is a resident agent and does not have a car, he only sells apartments within our condominium.

Imagine his savings!

But if the market spirals downhill things may turn out differently of course, after all last year was a bumper crop year for all in property line...
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tuition Teachers Make 20k Salary.sg Income and Jobs 7 24-09-2020 09:50 AM
When getting advice on Getting Rich, never trust Property Agents / Consultants Salary.sg Investments and Net Worth 8 08-09-2011 04:21 PM
SMU Fresh Grads Make $4k to $10k Salary.sg Income and Jobs 140 04-06-2010 06:42 PM
Property Transactions Crashed (see graph), Agents Go Hungry Salary.sg Investments and Net Worth 4 28-12-2008 05:36 PM
Men, Divorcees Owe More Money Salary.sg Investments and Net Worth 0 14-06-2008 11:21 AM

» 30 Recent Threads
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,174 Replies, 1,335,532 Views
Compare civil service salary ( 1 2 3... Last Page)
10,719 Replies, 5,927,676 Views
Lawyer Salary ( 1 2 3... Last Page)
9,621 Replies, 3,085,955 Views
Starting Pay for CS/Ministries... ( 1 2 3... Last Page)
156 Replies, 36,621 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,726 Replies, 1,136,613 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
338 Replies, 115,230 Views
DBS tech seed programme ( 1 2 3... Last Page)
32 Replies, 4,444 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,051 Replies, 3,847,286 Views
Career as Teacher ( 1 2 3... Last Page)
2,887 Replies, 1,758,422 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
226 Replies, 137,889 Views
ITE lecturer ( 1 2 3... Last Page)
140 Replies, 134,051 Views
Job Application with MOE... ( 1 2 3... Last Page)
246 Replies, 225,159 Views
Engineer Pay ( 1 2 3... Last Page)
121 Replies, 47,066 Views
Fresh grad wanting to know about... ( 1 2)
17 Replies, 5,465 Views
Number of FT in Singapore coming... ( 1 2 3)
23 Replies, 7,946 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
81 Replies, 120,574 Views
Where would you invest your money... ( 1 2)
18 Replies, 11,020 Views
MasterCard Graduate Developement... ( 1 2)
11 Replies, 5,059 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
745 Replies, 374,621 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,630 Replies, 1,345,862 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,006 Replies, 1,146,705 Views
Invitation to apply to civil...
0 Replies, 212 Views
HSBC Graduate Programme 2021
6 Replies, 432 Views
ST Electronics ( 1 2 3... Last Page)
873 Replies, 260,577 Views
Looking for job referral,...
5 Replies, 528 Views
Diploma in Digital Marketing at...
4 Replies, 2,528 Views
How rich/poor am I compared to... ( 1 2 3... Last Page)
44 Replies, 34,875 Views
Employment agency taking me to...
2 Replies, 151 Views
[advice] Recruitment agency... ( 1 2 3)
21 Replies, 3,254 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:55 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2