How to make additional $10K - $30K DOING NOTHING just by keeping your license.

What happened these 2 days leads me to write this blog. Read on if you are thinking of LEAVING THE REAL ESTATE INDUSTRY and make ADDITIONAL INCOME just by keeping your license!

2014 is a bad year for many agents especially those who have not reacted quick enough for the change in the market and ended up earning barely enough to cover your expenses, less to say, becoming a top producer.

Many have left the industry for Full time job. I know someone who:

1. Went to work in the F&B industry, Oil and Gas Industry, Education Industry....
2. Went on to drive Taxi
3. Went to part-time for a friend's company doing contract sales
4. Went back to previous line doing HR, Accounts job

Firstly, this is nothing to be ashamed of as we too have a family to take care of, elderly parents, children and we need to survive too.

Whether you are leaving the industry for good, or you are taking a temporary break, what is important now is to do the right thing to salvage on the leads that you are having now and convert them into $$$$$.


BEFORE you start working, let me predict to you what will happen at work place

1. You probably will be in your 3 month probation period in your new company. Hence, you have to put in full concentration level and full effort so as to learn the rope fast. Someone is probably watching you too!




2. You probably will be in a office environment making it difficult for you to make phone calls, appointments, spend long hours negotiating. Basically, you will be whispering over the phone. Anyone can relate to this?




3. Being a current agent, you would know that many owners today want to sell their unit quickly as their BTO is ready. Many Executive Condominiums and DBSS are TOP-ing soon. Below are just a few and if the owner owns a HDB flat, they MUST SELL.

1. Blossom Residences (Nov 2014)
2. The Rainforest (Mar 2015)
3. Arc @ Tampines (TOP already)
4. Riverparc Residence @ Punggol (TOP already)
5. Trivellis @ Clementi (March 2015)
6. Lakevista @ Jurong (Oct 2014)
7. Belvia @ Bedok (Nov 2014)
8. Pasir Ris One @ Pasir Ris (May 2015)

If you can't put in full effort to help them sell their place, OTHERS WILL!!! Again, why I said this? Because this was what happened to me EXACTLY when I left the industry in 2002. My seller changed me because I could not put in 100% effort as I was working 9-6 everyday.


How to make ADDITIONAL INCOME?

The answer is very simple. Keep your license. I believe "at the point" you go for your full time job, you may still have UNSOLD properties on hand. You may be very down emotionally losing confidence and could be in debts. You may have also sold your car and becomes difficult serving buyers.

Due to "pride", you don't know how to tell your owner or worst still, you choose not to tell them, but your service level drop. Trust me, I have gone through this phase as well. As a result, you may lose the deals to competitors who can put in more time and effort to help your client. End up, you make $0 and become more demoralize.

With the number of years in the industry, you may still have some leads coming in every now and then. The problem is, you no longer have the freedom and resource to serve them. So, what should you do?

You should look for a "partner" who can do all these WITHOUT troubling you.

1. Take full control of selling your client's property
2. Take full control of arranging your buyer to purchase a place according to their requirements
3. Attend all viewings even if its during the day time, HDB appointments, Valuer Appointment, HDB inspections etc
4. Still gives you back 50% of your cobroke share.

As for me, all the above can be done. You don't have to do anything. Just look for me and I will handle the rest.

Fair?

You do nothing, I do everything. We share 50/50. You make additional income doing nothing. I make additional income without farming.

SIT BACK AND MAKE MONEY

Case Study 1:
Handle a HDB Sale for an existing auntie agent who is too busy doing HDB full unit rental. No time for HDB resale and also, due to changes in ruling, she couldn't catch up and no confident in doing. Currently doing my 2nd case selling with her. Awaiting 3rd case selling and 1st case buying.

Case Study 2:
Handle a HDB sale for an ex-agent who is currently doing her full time job. Just transact 2nd case with her.

For both referrals above, the referrers are too busy with their own stuffs and I am handling 100% of the transaction from start marketing to completion of whole case. If you have 3 cases of 3 room flat for sale in a year, you should be getting close to $10k additional just by doing nothing!


The number to call is 9730 7308. Remember, keep your license so that all cobroke documentation can be done properly.

The Truth about selling a HDB Flat in today's market

Few Months back, I put up a post in by facebook account on a new 3% Exclusive listings that I have just gotten. This post went so viral that I have received many PMs asking how to get it.  It even went to hardwarezoneforum. Many in the hardwarezone forum accused me of cheating old people of their money, an agent who overcharge clients and etc.

Now that it is finally sold, let's shed some light here just to benefit some agents who are wondering how I did it and also potential sellers who need me to sell your place and why am I charging this fee.


INTRODUCTION (REFERRAL)
When I first received a phone call from a friend asking me to sell his place at 157 Toa Payoh (which was left UNSOLD for the last 6 months), I was puzzled. How could such a unit located right beside Toa Payoh MRT be left with no takers? (Unit is BESIDE an underground MRT, Bus Interchange and is linked via a covered walkway right to the MRT).

A research was done immediately on the EXCLUSIVE UNIT and I found that no advertisement could be found in the 2 major internet property portal propertyguru and STproperty. Scratch head....

 

An arrangement was done to view the unit and these are the findings. (No. 4 and No. 5 will make any agent sian half)

1. The unit was located on the 2nd Floor
2. The unit is directly above a Child Care Centre (this could means noise everyday)
3. It was quite an original unit with no kitchen cabinet installed. So, major renovation is required.
4. The unit is directly facing a MEGA 4 lanes by 4 lanes CROSS junction. Chinese most likely would not want to get it (especially in today's market with plenty of choices).
5. The neighbour next door was occupied by a lonely old man. He loves to write calligraphy. His window panel was filled with "handwritten poster" 大字报 in A4 paper which says, "Life is already hard in Singapore, It's harder to get a good neighbour!!!" and all sorts of other newspaper articles which talks about "bad neighbours". Sorry for readers, I am not able to post that picture here.


NEGOTIATION (This is how I got the 3%) Good deal? Think again.
After analyzing the unit, I know I got to do something to the house to increase the chances of selling it, otherwise I may turned up being the 3rd agent to be replaced.

         1. Value-Add the Unit
         Proposed to install new kitchen cabinet. This decision was made partly due to my experience serving buyers, I realized many always like to look at the kitchen condition before making a decision.

This is also a risk that I am taking as IN MY PERSONAL OPINION, majority of 3 room flat buyers do not have spare cash to renovate the unit. This decision will help seller sell the unit faster, help agent (me) sell the unit faster, and also benefit the buyers by reducing their renovation costs and increasing the valuation price. 3 benefits, why not!

         2. Strengthen the advertisements quality and quantity
         I will post and repost the unit 4-5 times daily so as to achieve maximum exposure and also placed ST advertisement for the unit as this is a matured estate. Buyers may not even surf the internet.

How much commission will you ask for if you were to spend ~$2500/= first to beautify the unit which costs around $3xxk? For me, just 2% + the cost of the kitchen cabinet. Furthermore, there is a huge risk of losing it all if it's not sold within 3 months. Negotiate with sellers and exclusive to sell at 3% accepted. (Previous agent took only 1.5% but did not sell even after 6 months as nothing was done to the unit.)


Now below are the before and after pictures. Do you think I made the right decision?

While installing the cabinet, I found that the dustbin really looks awful and have it replaced as well.

And......

  Throw in new Cooker for buyer

The Selling
The selling part is pretty standard. Except that 50% of the time, I have to dump my family halfway during dinner time to rush down. Once, a group of potential buyer staying 5 minutes walk away made me waited for 1.5 hours just by saying they were "on the way".

The statistics.....
70% of the buyers did not even arrange for the viewing after knowing its on the 2nd floor.
Of the balance 30% who came,
85% did not give an offer after seeing the 大字报 next door.
10% did not give an offer after hearing the noise (2 funerals downstairs in the 3 months of marketing)
Only 1 offer was given out of estimated 20 groups of buyers. 

And I did not mentioned! While selling halfway, HDB launch new flat in Toa Payoh which makes my job lagi difficult. Find out the prices here. http://www.channelnewsasia.com/news/singapore/average-price-of-s-386/1352414.html

The unit is finally sold.... in Lunar 7th Month!!
Challenging job? Well, not for me. Just like what a mentor once told me, If you don't value add your client, your client won't value you.


AND NOW PART 2 FOR SELLER
The above is just 1 exceptional case which I did for my seller. I DO NOT build Kitchen Cabinet all the time. Every unit requires some kind of touch-up. For some, its just repainting. For others, it could be "uncluttering", installing brighter lights for the unit or even something else major. We will talk about this when we meet.

My aim is to be a professional realtor helping home owners sell their place and buyers get their dream home. Full attention will be given to fight for each and every of my client's interest. That is why I only take in 4-5 cases per month.

In a period like now, every month that your unit is left on the shelf, your loss. If you are keen to use my service, kindly contact me to discuss.

Regards,
CHARLES TAN
9730 7308

How I convince my buyer who does not want to buy Maysprings to now, only want Maysprings

Hi All,

Its me again. I am going for reservist tomorrow and because life's going to be B.O.R.E.D. the next 3 days, I decide to share on how I convince a buyer whom initially do not want Maysprings, and eventually decides on ONLY Maysprings in this episode.

Reservist March 2013

This happens in 21st August 2013 when I received a call from this buyer who wanted to view a 2 bedroom unit in Jurong (Mayfair)

Profile details below:
1. Indian buyer looking for 3rd Property (2 Bedrooms or 2 + Study)
2. Family Size (Husband, Wife, Daughter, Grandfather. Husband stations in KL most of the time)
3. Budget <$900k
4. Must have transport to NJC
5. Must be conveniently located near amenities
6. Loan No issue (Refuse to disclose to me details but she works in a bank and has eveything checked)

Homework that I have done (Took about 1 - 2 days)
1. First check direct bus to NJC and the condo that it will pass by
2. Do research on price comparison, potential upside, potential risk.... (All learn from PUP and SST training)
3. Prepare presentation slides (Have you started doing presentation to buyers? I think it is important to do presentation to buyers today. Otherwise, very hard to close)
4. Arrange viewing.
    - Mayfair (2 + Study)
    - Warren (2 Bedroom Ground floor)
    - Warren (2 Bedroom)
    - Maysprings (2 Bedroom - 915sqf)
    - Maysprings (2 Bedroom - 807sqf)
5. Conversation with buyer 1 day before viewing as follows:
     Me: Hi Ms Buyer, I have arranged for viewing tomorrow and have SMS you the details.
     Buyer: Hey, I think we can forget about Maysprings. I am not interested.
     Me: Hmmm... May I understand why?
     Buyer: I know that Maysprings 2 bedroom has a odd shape. I totally do not want to consider at all.
     Me: Oh.... But I have already arranged. Why not we go and view first and let me show you some           statistics that may interest you?
     Buyer: Ok then. But don't say I never warn you coz I don't want to waste your time. I am not keen in this project at all.
     Me: Sure sure sure... No problem. No obligation.

On that day of the viewing, this is what I have shown to her on my research and below also what I have said to show her why it is a good buy.

Comparison with Condo in D22/23 which are near to MRT, Bus Interchange and Shopping Centre

Me: Ms Buyer, from the example, we can see that comparing with all the condo near MRT, Bus Interchange and Shopping Centre, Mayspring actually has the lowest average psf compared with the rest. On top of that, the MRT is not yet ready. By the time it's ready, do you think it will impact on your property price? Look closely, Hillview Peak and Hillsta is not even near Bus Interchange but is already selling at what price?
Buyer: But... the living room is odd shape isn't it.
Me: Well, I know you don't like odd shape. But, do you like money? Look at how much Hillion Residences is selling. By the time it TOP, how much do you think the seller will be asking? Now look at how close are these 2 projects. How much do you think you need to sell just to make a profit compared with them? Unless you say you don't like money loh, then I have nothing to say. 

Me: Now take a look at where the MRT line will be bringing you to in 3 years time. Do you think this will impact the price in future since it is already at the lowest right now compared with the rest of the condos also near to MRT, Bus Interchange and Shopping Centre?

Me: During the good times, you can buy ANY property and know that prices will go up in the next few years. However with the current cooling measures today impacting property prices, do you think it is very important to look at something that provides you with good potential upside and low low risk? 

And even if you do not wish to sell in future, do you think you can fetch a good rental price given the distance to MRT, Shopping Centre, Bus Interchange and short MRT traveling time to town?

Buyer: Starts to think...... (Before we left bukit panjang, she told me hey there is an indian temple here).

I can see that buyer is actually digesting on the good points and the value that I am adding to her. That is why she's calling me week after week on viewing appointments. This is actually how I converted a "stray" buyer to an "exclusive" one; by value adding them and always have their interest at heart.

Following week, received an SMS from buyer that now they are only looking at Maysprings. Zoomed in. Can forget about the rest!


End of Example.......

------------------------------------------------------------------------------------------------------------------

Do you often see your fellow colleagues or agent friends who are very "lucky" or always have special favour from their "god"? Whenever they are stationed in show flat, the buyer will walk right into them and they just keep closing? During balloting, they are always called first?

Well, contrast with that, I am not a "heng" person. Luck has never been visiting me. I never strike 4D and during the last few project launches that I have done, I am almost always called out last. That is why I know I have to work hard.

The new skill set that I have learnt here not only help me spot the right property for my buyers. It also increases my "hit" rate and reduce my viewing time. Can you do something like that for new launch or the overseas project that you are marketing?


If you are keen to find out more on how to do the above chart, please PM me in facebook or SMS me for one-to-one sharing (9730 7308). Thank you.

Change in Market Conditions Overtakes Initial Plans 计划没有变化快

After 1 week break, here I am back again. This post will break into 2 parts. 1st will be my decision to move to Propnex and the 2nd part will be on what I am doing now.

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After working in ERA for 2.5 years, I soon realized that Project Sales is no longer as profitable as before "for me" and was exploring on what to do next. Here's why.

Firstly, we can no longer close 20 deals during the launch days as like the past. Since that is the case, then its not worth the effort for me to continue doing projects anymore since it takes 6 months to 1 year for the commission to come in.

Secondly, during my project days, I have seen many real estate agents purchasing units from the project itself for investment purpose. Since that is the long term plan (to invest in properties), why not come over since I have heard alot about the trainings here from Kelvin Fong and Powerful Negotiators which will train us to identify "undervalued" *properties. With these trainings, not only can I identify properties for myself, I can do so for my clients as well! One stone kill 2 birds!

*Disclaimer: I am not saying this is the only place which train us to identify "undervalued" properties. I have heard other training schools teaching that as well. I do not receive any monies, commission, referral fee or whatsoever from anyone from making the above statement.

And lastly, I also heard alot about the trainings of "sell 1 buy 2." I was exploring on that option as well as my HDB flat has already MOP and I want to learn how I can buy 2 properties with little or no money down. And so, I moved over.

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After coming into Propnex on 17th May 2013, our government soon announces TDSR in June 2013 and reduce MSR for HDB flat from 35% to 30% recently and also reduction of loan tenure from 30 years to 25 years.

Just like many others, my business was hit as well. On top of that, I could no longer loan the amount I wanted as there is a 70% haircut for our income and on top of that, we still have to fulfill the 60% TDSR. So there goes my upgrading dream. :(

Cut story short, I have made a decision to start FOCUSING on Room / Whole Unit Rental even though I heard its very tough. Anyway, No Pain. No Gain!!! And so.... flyers ready and waiting to farm.

I have heard alot of sarcasm and negative feedbacks from people who says, "heard Charles doing room rental, very cham". Well, to look at the positive side, room rental also got top producers right? Anyway, success or failure, I will still cheong, coz Charles never say die!!! :P

P.S. Who don't want to do room rental, can pass to me? hehehe..

Rejoin the Real Estate Industry - 2010

22nd October 2010

This is the day I rejoined the real estate industry again. 

Due to my experience earlier, I have shortlisted a few person to join. I finally decided to join ERA under the guidance of Mr Gary Chua (ERA Property Navigators) as he was one of the top 3 rookies during my time (2001 - 2002) and his team was the No.1 team in ERA South East Asia 2009. My belief then was very simple. To be the best, you got to learn from the best.

In my first 3 months in this business, I was doing tele-marketing almost every night (Mon - Thu). Once I entered full time in Feb 2011 (Last day from previous job 31st Jan 2011), I started doing door knocking. Within the first year, I managed to squeeze in the Top 50 in my division of 700.

Top 31 Achievers 2011 (Overall)

Resale to New Launch
Somewhere in May 2011, I somehow feel that the resale market is slowing down. I decided to take a step of faith by going into the new launch market. Many were skeptical about my decision as the commission payout for new launches then wasn't very fantastics, so it might jeopardize my business cash flow.

The results wasn't very good for me in my first few EC projects but one thing for sure, there was a winning formula! Some agents could close 10 - 20 units for every single project. What is it?

I soon found out that "someone" (name not mentioned for the obvious reason) was doing internet marketing and I wanted to learn. After asking her a few times, I was sure she is not going to teach me (again for obvious selfish reason). I decided to approach my manager Gary to grumble.

Me: Boss, this ABC how come so selfish? Ask her to teach internet marketing she just ignore me and unwilling to share. 
GC: Maybe she is busy and didn't see your messages?
Me: Well I don't think so. In group chat she is still active but in individual chat, she just ignore.
GC: Hmm.... Actually, she is not obligated to teach you. This industry is like that, some people are unwilling to share. We can't force them too, but we can change ourselves. what to do? Try asking for others till you get the answers?

Me: Ok, since that is the case, I will look for someone else or do it myself.

I spent the next 2 weeks sitting in front of my computer till 4am every single night just to google about website design, google pay per click, yahoo marketing and DIY everything myself. After test running the system including researching on keywords and costs, I finally managed to close about 20 units collectively in the next few launches.

Lesson Learnt here
Being a veteran in this industry, I got to say Gary is right. Nobody is responsible for your success or failure, YOU ARE!
If you want success bad enough, then work for it! 

Market Changes
Not too long later, many resale agents also see the fruits of new launch agents and started to flood the new launch market. Everyone wants a piece of the cake. Most experienced agents have also started doing internet marketing and bidding aggressively for keywords thus making it extremely costly to do business here. 

Let's Analyze

New Launch                                                Resale
Agents Increasing                                         Agents reducing
Slow Comm (6 mths to 10 mths)                  Fast Comm (Average 3 - 4 mths)
Close Buyers (Cobroke fee is negligible)     Close Sellers, Buyers, Landlord, Tenant
10% loyal buyers (Now)                              40% - 50% buyers are loyal
20% - 30% of buyers become sellers           50% - 60% of clients become repeated customers
High Marketing Costs & constantly             Lower and manageable marketing costs.
pressured by.. ahem.. you know who           Clients can also bring to close at new launches


After deep considerations, I decided to leave my comfort zone again and switch over to Propnex to start doing resale but not before receiving my Top Achievers award from my division once again. 

Top 37 Achievers (Overall)

Summarize:

Out of about 30,000 agents in Singapore, how many actually achieved the Top 300 in their respective agency? What about the rest? Many are like myself probably in the Top 301 - 500 range but we do not give up. 

Do not be mislead by "some" top rookies who achieve top position within their first year. Some of them have plenty of $$$$ in their pocket when they enter this industry. Some of them have husband / wife / father / brother / sister who are already top agents and able to push them up easily.

For someone like myself (and I believe there are many who are the same as me) , I started with $0 in my pocket and work my way up managing sales and cash flow at the same time. Being a sole breadwinner, I also have a family of 4 to take care of. But I choose to "KEEP MOVING FORWARD".

To end this chapter, my advise is as below.

To be continued next week..... 

Fear - (2002 - 2010)

Continue from earlier.....

Fear. Almost all failures in life begins with it. Fear of failing. Fear of not having regular income. Fear of being despise by friends. Fear of being rejected. 

And the result? I went back to the job market finding a regular paid job.

July 2002 - Apr 2003 - Hotel ($1400/=) - Retrenched in Apr 2003 due to SARS & Bird Flu. 
May 2003 - Jun 2003 - Unemployed (You think you are getting a stable income?)
July 2003 - Apr 2004 - Hotel ($1700/=) - Work 12 - 14 hours daily including Sundays
May 2004 - Jun 2004 - Unemployed (You mean you really think you are getting stable income?)
July 2004 - Nov 2004 - Part time job ($800/mth)
Dec 2004 - Mar 2005 - Temp Staff - (Hourly paid. Works 16 hours per day just to clock OT.)
Apr 2005 - Aug 2009 - Local logistics company (Logistics Asst -> Warehouse Executive -> Asst Warehouse Manager) Highest pay then $3xxx. No Bonus, No AWS.

Till this period of my life, I was still NOT IN CHARGE of my destiny. I was pushed around, laid off when NOT NEEDED. My promotion didn't come, I could not see myself becoming financially free and I was working 12 - 16 hours per day including most Sundays just to keep my job. The worst part is, whenever something good happens, the SALES people get rewarded and the SALES people gets promoted, profit sharing and all bonuses. Operational people were never recognized because its part of our god damm job to get things done perfectly.

Friends, before you start thinking of leaving the real estate industry, ask yourself this question. Is the Singapore Market + Economy good or bad right now?

If your answer is good and you still see agents making money but not you, do you think you should talk to someone who will give you the answer?

If your answer is bad, then WHAT MAKES YOU THINK THAT THE JOB MARKET IS GOOD OUT THERE????

Back to the story....

To summarize, I have proved my worth and rise up from a Logistics Asst to a Asst Warehouse Manager (meaning to say, I wasn't that bad after all). But it took me 7 years to realize the only rewarding career is in SALES. All you need is the formula!

Do you know why some agents still continue to top the chart between 2003 and 2007 when the market was bad? Because they found a formula. I just learnt it last year after chit chatting with my ex-mgr. If you can be offered one super sure successful formula right now, will you take it up?


Aug 2009 - Industrial Sales

FEAR is just like a competitor to us. Either you overcome it or it overcomes you. My failure in real estate costs me 7 years. Below are the conversation between my wife and myself in Mid 2009 before I joined industrial sales.

Wife: Why don't you go back to Real Estate since you have CEHA?
Me: No means no. Do anything also can. But not property agent. (In my heart, damm scared malu again)
Wife: How about looking for a sales job but not real estate?
Me: Sales job is ok, but not property agent. Maybe I try out industrial sales first.
Wife: How about while doing that job, you also do part time property agent? hehehe....
Me: No. I do industrial sales. period. (Phew... Hope she doesn't continue further)

I resigned from my warehouse manager job and took up an opening in a company selling rackings to company. Within 1 year I rise up to be the Top Salesperson. What was the package then? Basic $1750 + $250 transport + handphone allowance + 2% comm for sales. The sales job that I got was around $3000 - $5000 per job. So my comm will be around $60 - $100 per deal. How to make big money?

That was when I start to explore the possibility of doing real estate again. The logic is simple, the smallest property in the market is probably a 3 room flat which costs about $300k. If i work hard, maybe I can let my family enjoy a better lifestyle. (By then I already have 1 baby and needed milk powder money urgently).

Oct 2010 - Rejoined ERA
After 1 year in the job, I soon made up my mind that I have to come back to real estate. 

I could have come back in 2008 when real estate market starts to pick up but I didn't because of FEAR as mentioned above. Do you have fear now? Why not talk to someone who has overcome fear?

To be continued tomorrow...... Back to ERA.

The Ups and downs of Phase 1

July 2001 - Dec 2001 - Early success of my real estate career

This was the time my parents decides to sell their Freehold Inter-Terrace at Yunnan Drive and move to a 5 room HDB flat as my brother and I are getting married and will be having our own B.T.O. flats. Being their son and the only housing agent (who else can still remember this term) at home, I was given the rights to market the property.

The unit was eventually transacted by me at $1.2Xm (cobroke case). I also brought them to purchase a HDB flat at Jurong West for $2XXk. I made a total of around $20k.

During this period, I also gotten an exclusive for a 5'S' Blk 201 HDB flat at Boon Lay. It was a run down unit with duo-entrance / exit. 2 months of marketing, no offer. I decided to print some DIY flyers with a picture of the unit and farm around the blocks (Blk 201 - Blk 206). The owner was eventually touched by my efforts and let go of the unit. 2% comm less 3% GST. (yes, the GST was 3% back then).

Lesson learnt: Work the ground. During the good times, agents like to wait for durian to drop. During the bad times, you got to work doubly hard and upgrade your kungfu and effort!

All my comms earned gave me much confidence and I went into a "Ah Beng Flyer" dumping spree. The next things that happened became my worst nightmare ever. I received more and more calls from Boon Lay sellers asking me to sell their flat. However, 9/10 sellers were negative sales!!!

Friends, while reading, did you realized 2 things?
1. I was doing GTA back then. But I have chosen the wrong area!!
2. Now that a lot of agents are complaining of not getting buyers (who qualify for loans), back then, there were many sellers who aren't qualify to sell but need to sell!!! (SPR and Upgrading costs them around $20k and the flats there were worth just about $90k.)

So, are you getting buyers from the right GTA? I am right now. Because I am taught how to find one.

Jan 2002 - The downturn

After studying for 3 months, I finally passed my CEHA examination aka Common Examination for Housing Agent and joined ERA with a 60/40 cut.

First Appointment with my VP then Mr Donald Yeo (Currently in HSR)

DY: Why do you choose ERA? Our resale cut was one of the lowest. 60/40.
Me: Because i know alot of agents here are making money the professional way. I want to become a top producer in a big company and I want to learn the right method.
DY: If I were to give you the formula to success, will you follow and do exactly what I tell you to?
Me: Yes. I will
DY: Ok, I have all these chinese new year cards. Buy 150 pcs and send to all your relatives, friends telling them that you are in this line. 
Me: Hmm.. But I have no money.
DY: I thought you want to be a top producer?
Me: Ya, can I do it later? I really have no money. Any FREE method? (Sounds familiar?)
DY: Ok, our conversation ends here!
Me: Huh??????
DY: Our conversation ends here!
.
.
.

One may think, that's awfully brutal! But the fact is, this statement has been following me for the next 8 years before I rejoined the industry. I didn't catch the formula when someone is willing to pass it to me! In fact, to think back, I think he is testing my sincerity in doing this business. Are you serious in your success?

Back to the story...

The trend at that time was door-knocking, telemarketing and roadshow! I did only door knocking and was burnt out within 6 months. Guess what, I did received listings back then in my new GTA, woodlands. But there were 0 call after 3 months of marketing! Mind you, we only have classified ads as those days online property portal are non existence. I was also sending emails to my friends on my Property for Sale and there was once I received and email from a close Army friend of mine which says "Please remove me from my mailing list". 

I went into a depression and was constantly stressed because my listings doesn't move! And as you may have guessed by now, I ended up leaving the real estate industry in June 2002 to pursue a corporate lifestyle.

Notes:
1. Your circle of influence are your best referrals. Are you contacting them every now and then? I wasn't then. Now I am.
2. Its easy to recognize that you are not going to make it. That's when you start finding excuses for yourself. Are you finding excuses for yourself now that maybe real estate isn't for you? 
I think we need to talk.
3. Lastly and BTW, I learnt this from Church. 
Men are designed to be creative and positive. If you are negative now, maybe Satan is talking to you disguising as a human form and telling you that you are bound to fail, don't waste time, don't xia suay. Avoid such people. Find an environment where positive people are.

To be continued....
Next episode on corporate lifestyle esp those who are thinking to leave. Break time. Go for viewing first. :)