FYI only the top 5% do this well.
FYI only the top 5% do this well.
Minister's pay is brought up many times
We get peanut and we have peanut responsibility!
Residential agents can make money for clients - rental properties, fire-sale negotiations, lobangs on repo properties...even HDB rent a room, client also can earn $.
Commercial property agents help biz owners find a suitable place for their biz - client can make $ (depends on biz of course).
There are also leasing officers on retainer to the main developers (Far East Property Group) who are also paid commission. Their job of course is to lease out property and make $ for the company
There are also agents who attend condo launches as sales team. They get $4000 or more for each apartment sold. Make $ for developer, right.
So which of the above kind of client you are...thats where agent can make $ for you
Of course, all of us know that there are good and bad salesperson in any industry, not just property. So if you met a bad agent, then you considered yourself unlucky.
Those good ones are the ones creating values to you, and thus would be able to earn high commissions. This explains why some of them could earn millions as commisiions.
What they do is jacking up the price as high as possible to earn maximum commission. This in turn, inflate overall property prices islandwide.
I've heard from a friend that an agent practically auctioning a unit to highest bidder, rather than first come first serve.
If Sion is right.. I hope they burn some paper house for themselves
However, what Shizuma had said still applied should you one day need to engage a property agent. Ask yourself this question - why do you need to engage a property agent? It is simply because you need his service to buy or sell your property even if it is for your own stay. On the other hand, if you apply for a BTO flat from HDB and got it; and stay there till you leave this world, then you will never need to engage a property agent to sell/buy any property. However, many people gotten their BTO or resale flats, stay there till the MOP is up or later, and then sell their flats to due to whatever reasons (such as moving closer to children schools, upgrade/downsize flats, upgrade to private properties, divorce, and so forth. Hence, these people will need to engage property agents to help them to sell/buy flats.
as for buy-side or renting, no housing agent, how you find house? not everybody is so free. (mugger foreign student, harried home-maker , busy towKay ). how to find time slowly-slowly go through listings , call to check not ghost listing, arrange timing and schedule, etc.
for business owner looking for new place for expansion, just throw the specs to agent.
anyway, pay package for mini star is not necessarily commensurate to competence. one can have more responsibility than competence, that is how screw ups happen. eg if a project manager blew over his Initial budget by 10 million . . . think what will happen. now think over blow by hundreds of million.
of course, our AGM is only once in 5 years so not so easy to remove under-performing directors
I don't think you can make such a comparison. Every single minister net worth is more than most property agents and their income including their minister pay are quite obvious. Not taking into account other private business. Whilst property agent income are not fixed and those whose 'make it' to at least the minister pay alone level aren't many. Such income also is not regular.
To choose between the two, minister is definitely better. However, our ministers are never there because of $, they just want to serve and return to society leh.
You do not find top end real estate professionals like Dennis Wee or ERA CEO or Propnex CEO agreeing to be the subject of such write-up in a boastful article.
They know better. They do not need to boast. There is no need to compare with a Minister.
That article is a silly advertisement for an idiot who thinks he has made it. He does NOT represent the rest of the real estate industry.
Last edited by ricohflex; 31st August 2013 at 11:15 AM.
to be fair to the guy being featured, didnt read anywhere that he actually said he earned as much as the ministers. In fact, if his highest commission is $30,000 so far and majority of it went to pay for a car, i really dont think he's earning a million bucks annually.
It's the reporter who hyped the matter up, hoping to garner more eyeballs.
Does anyone have a concrete answer as to how long will a person take from the very beginning when a decision made to becoming a qualified full-fledge property agent?
Could anyone recommend any CEA Approved Course Provider(ACP) for Real Estate Salesperson (RES) course with the lowest course fee but without compromised teaching quality? and why?
Last edited by Rafael; 2nd September 2013 at 11:53 AM.