Just passed your RES Exams? Here're some next steps.
Congratulations on a significant achievement in your life, and the start of your Career in Real Estate!
As you would have encountered in Social Media forums, Telegram Group Chats, and even at the RES Exam Venue, there are plenty of choices for you as you begin your journey. In fact, it might even be overwhelming. At RES Tutor, we're not affiliated to any Real Estate Agency and will not persuade you to join a specific agency or Team. Instead, we hope to share some realistic wisdom which has been passed on by experienced Real Estate Salespersons.
1. Time is Money, and You Control It.
You'll spend part of each day working directly with clients, whether they're buyers, sellers, landlords or tenants. Often times, these times won’t always be during typical business hours. That means you may have to sacrifice your personal time—time you spend with family and friends. Especially in the start of your career where you are a "one person army", it may mean canceling your existing plans when a client requests for a last minute appointment.
As a seller’s agent, you'll spend time preparing listing presentations, taking digital photographs of properties, staging homes for marketing purposes, list on online marketplaces, and conducting viewings.
As a buyer’s agent, you may spend time combing through the various online marketplaces to find suitable listings, strategically compile them and send them to your buyers. You'll also show the property to interested buyers and accompany your clients to inspections,closings, and other activities for which your presence is either required or requested.
With so much to do, it's easy to get caught up with the individual responsbilities, clients' requests, trainings and in-house meetings. At the end of the day, you may find yourself attending to all urgent matters, yet neglecting the important ones.
As you become more familiar with the process and administration of your responsibilites (and perhaps even when you grow your own Team), you'll see your load lighten and gain more control of your time. Beyond familiarity, you need to plan a schedule that works for you, and then, be disciplined to stick to it.
A well-organised schedule gives you more freedom to spend quality time with your family and friends.
2. Tap on Your Social Circle
Finding clients is central to your success as an RES. After all, without buyers and sellers, there would be no transactions and, therefore, no commissions. Over the years, there has been a steadily increasing number of RES in Singapore - a eye-popping 32,414 Property Agents as of 01 Jan 2022. According to CEA's Key Statistics:
Number of Property Agents:
(as at 1 Jan)
So how do you capture leads in such a wide pool of competitors? One common way to build contacts and generate leads is through generating leads through people you already know, including your:
Extended Connections (Eg LinkedIn, Social Media Platforms)
After you make first contact, you’ll need to follow up with phone calls, emails, or text messages so the people you meet remember your name.
Since most people buy, sell, or rent property at some point in their lives, everyone you meet may be a client someday. Are you comfortable selling yourself? Yes, sell yourself! After all, it's your personal Brand Identity which the client will be interested in engaging to buy/sell property.
People are more likely to engage you as their property agent if you’re someone they’re comfortable with. Be genuinely cheerful, enthusiastic, and friendly. It also helps if you have a good sense of humour.
Whenever you can, refine your communication skills so you can get your message across clearly and prevent misunderstandings. In the property industry, it’s important that you provide accurate information.
Lead generation takes time, and it is a continuous process.
3. Keep Current with Market News & Regulations
We live in a society where information is free and accessible, so clients are becoming increasingly knowledgeable.
One straightforward way to gain trust and establish confidence is by equipping yourself with extensive market knowledge, expertise and experience. You can keep updated with the latest Market Information and changes in Regulations by subscribing to CEA's email newsletter, and by reading the daily news.
Similarly, you should continue to read the governmental websites for new information. Like you might have done during the RES Exams revision, these governmental website are a golden source of accurate information.
As a final quick tip, free Property Reports (Eg Quarterly Singapore Property Market Reports, Market Demand Reports, Singapore Property Market Outlooks) are available online, here.
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The above information is correct as on the date of listing. While every reasonable effort has been taken, errors may still arise. The author and publisher shall not be liable for any printing error, typo error or mistake.