Updated on March 1, 2023 by admin
Just got the encouraging news that a number of those who participated in the most recent RES exam had passed their respective tests. Big congratulations!
For those who feel they need another shot, now is the time to give it another shot while your memory is still clear! Don’t throw in the towel!
Recent events included my participation in a gathering with a number of aspiring real estate brokers. Speaking with them brings to mind the factors that had a role in my choice to become a real estate agent in the first place and join the first property business I worked for.
One of the first things that many people who are interested in working in the sector ask is usually the following:
Which real estate agent should I sign up with? Who is the most qualified individual to serve as a mentor to me as I embark on a career as a real estate agent?
I am always happy to share my knowledge, whether it is with someone who is just starting out in the sector or with seasoned professionals who have a great deal of experience already. The act of sharing may be a kind of introspection. I find that listening to people talk about their experiences teaches me just as much as talking about my own.
As a result, I have settled on the idea of putting my ideas down on paper. I really hope that it is helpful to you, and I am certain that by the time I finish writing this, I will have discovered some fresh motivation and ideas for my own real estate business.
The Development of Real Estate Agencies Throughout the Years
As of the first of the year 2o21, there were 1,164 real estate agencies and 30,399 real estate agents operating in Singapore, as reported by the Council of Estate Agencies (CEA).
Huttons has surpassed OrangeTee & Tie to claim the position of third biggest agency in Singapore for the year 2022. When the most recent statistics become available, this section will be updated.
I have spent many years working in the real estate market, and throughout that time I have seen the development of several property firms. When I initially entered the real estate industry, there were fewer regulations in place. Becoming an agent required a very little amount of effort and time.
In 2010, Singapore’s legislature enacted the Estate Agent Act, and the following year, the Council of Estate Agents (CEA) was formed to oversee the industry’s further growth and development. It is tasked with promoting higher levels of professionalism within the real estate agent business while also looking out for the best interests of customers.
New, more stringent regulations were introduced. Before real estate work can be done, salespeople are required to pass the Real Estate Salesperson (RES) examination. Estate agencies are also required to adhere to stricter criteria before they can apply for or renew their license. Both of these requirements must be met before the salesperson can conduct real estate work.
As a result, several smaller agencies were forced to close their doors, and their employees joined one of the larger agencies. If you look at the figure that compares the top 10 biggest agencies, you’ll see that the top 5 agencies account for more than 80 percent of the total agents as of the beginning of this year.
This brings up a very important topic for me. Is it true that joining one of the major property companies is preferable for someone who is just beginning their career in the real estate industry?
Which Real Estate Agency Should I Sign Up with?
When choosing a property agency to work with, a new real estate agent should, in my opinion, give careful consideration to a number of factors before making a final decision. I have condensed the discussion down to the following points:
When I finally made the decision to enter the real estate sector, the only firms I was interested in working for were the bigger, more well-known ones. I don’t remember exactly when I went, but it was probably sometime in 2002 when I attended a Success Seminar put on by my prior employer. Not too much longer after that, I started working in real estate.
Will brand identity help? If you ask me, I’d answer sure.
What percentage of my current success in my job may be linked to the reputation of the firm I work for? I would answer that although it does assist in certain ways, most of it is due to both myself and the individuals that are in my immediate environment.
And what really constitutes a brand?
Does a brand just consist of the firm that you work for, even if you are an independent real estate agent operating your own company? Or do we operate on our own brand?
My years of experience in the real estate industry have led me to the realization that it is essential to establish myself as a unique brand.
I just do not have the words to express how essential training is. Not only does it provide us with the information necessary to run our company, but it also instills in us the belief that we are capable of doing a good job.
The following education is particularly essential for a real estate agent to have in order to thrive in today’s real estate market and differentiate themselves from their competitors.
The use of technology has brought about significant changes in the manner in which we run our real estate company.
When I initially started working in this field, the majority of my marketing was carried out via the use of flyers and newspapers. At this point in time, the majority of my advertisements are placed on online property portals such as PropertyGuru, 99. co, SRX, and EdgeProp.
In the past, handing in the paperwork was a cumbersome process that required piles of paper to be delivered to the office in a physical fashion. Because of advances in technology, all of these activities may now be carried out without leaving the house.
And how could I possibly forget to highlight the amazing applications that NAVIS has created?
The majority of agencies provide their agents with technological assistance in the form of an interactive website and app that they may use to carry out fundamental responsibilities. However, technology has come a long way and can now assist us in a far wider variety of situations.
Consequently, it is essential to choose a company that provides robust technological support. It has the potential to cut our burden significantly, allowing us to do our tasks in a more effective manner.
4) The Introduction of a Brand-New Project Creates Opportunities
Occasionally I heard real estate brokers declare:
I am indeed a resale agent.
I can get where they are coming from; in fact, not so long ago I was in the same position as one of them!
When we first started out in the real estate business, project launches were not nearly as common as they are now. Since we began our careers at an early level, we received extensive training to handle resale transactions for both HDB and private houses.
Habit is something that comes naturally to humans. It is simpler for us to continue doing what we have been doing in the past than than exploring uncharted territory entirely.
However, project launches are becoming more popular with purchasers of real estate, and because it is a lucrative market, it should not be ignored.
Consequently, it is essential to choose a firm that has a solid pipeline of upcoming project launches. Due to the fact that we are a developer-appointed agency, we have access to the most recent information and pricing that has been provided by the developer.
When deciding which real estate firm to sign up with, I believe that this is the single most crucial factor to take into consideration, thus I have saved it for last.
Which Real Estate Agency to join?
Choosing which real estate agency to join can be a crucial decision in your real estate career. Here are some factors you may want to consider:
- Reputation: Look for an agency with a good reputation in the industry. Check online reviews and talk to current or former agents to get a sense of their experiences with the agency.
- Training and Support: Consider the quality and level of training and support the agency provides. A good agency should have a comprehensive training program for new agents, ongoing training opportunities, and access to mentorship and coaching.
- Commission and Compensation: Compare the commission and compensation structures of different agencies. Find out about any additional fees or costs you may be responsible for.
- Culture and Values: Look for an agency that aligns with your values and goals. Consider factors such as the agency’s size, company culture, and the types of clients they serve.
- Technology and Tools: Consider the technology and tools the agency provides to help you succeed in your role. This may include a user-friendly CRM, marketing tools, and access to the latest market data.
Ultimately, the best real estate agency for you will depend on your personal goals and preferences. Do your research, ask questions, and carefully consider your options before making a decision but Digital RES Agency has all these points.
I really hope the information I have provided is helpful. If you believe that any of your friends may benefit from reading this essay, please don’t hesitate to forward it to them.
When starting out as a real estate agent, it is critical to choose the ideal brokerage to work with and to join a group comprised of people who share your values. Being on a team not only gives support and a sense of camaraderie, but it also stimulates personal growth and development.
To put it more simply, TEAM stands for “Together Everyone Achieves More.”
Send me a message on WhatsApp if you are interested in learning more about how NAVIS and I can assist you in getting your career in real estate off the ground, or use the link below to make an appointment with me to discuss this further.