Your views on the current surging property market

[ConnorMcLeod]

If their parents only finished paying theirs in their 50's ,imagine our generation ( 20's to 30's )!!!! Now even a HDB flat can command from S$500-700 K+. I guess ( from a non expert) we are currently paying close to double or more what most home buyers paid for 10 or 15 yrs ago?! Walau can't imagine what prices for homes will cost the next 5-10 yrs!!!!!

Finishing off mortgage payment n the 50s is pretty good!
but then likely the next few years on paying the Merc car loan :bsmilie:

 

[diver-hloc]

Finishing off mortgage payment n the 50s is pretty good!
but then likely the next few years on paying the Merc car loan :bsmilie:

Yup.... some people rather pay Car Loans than their mortage..... :nono:

 

[La Fontaine]

ask the agents out there... bring u view a few flats... sign on a agreement and u pay them 3-4K... what a wonderful job... .

Property agents - seems like a great job. So, what are you waiting for. Just go out there to be an agent. Dun need to work that hard, and make lots of money - who dun want.

Dun dream - get real, real estate ain't a pot of gold la.

 

[La Fontaine]

Hi Guys,

really would like to comment on this issue with some personal comments
No hard feelings to any one...

I'v been a property agent for the last 1 year.
I have to welcome any one of you who believe its an easy job to try it out..
some 1 commented " bring client go view a few hse - commission 3k ~ 4k "

Life is always greener on the other side, TRUST ME.. its hard work and more hard work & still MORE hard work involve, in sales . insurance, property etc .. agents always look like the bad person. i do agreed that there are some black sheeps as with any job..

but most of us are nothing but same as each other . hard working guys just trying to make a living ~ Week ends burned endless hours of OT . etc. etc.

AS PER TOPIC...

only 1 word explains everything..

GREED !!

our own greed,. : Buyers complain endlessly about High Prices , Sellers complain about Not Good enough...

Here. most who complain are looking to buy, any sellers here complaining prices are too high ?? can i see your hands ??

Gents, I have always believe , HOME is where the heart is.. u dont need a BIg house to have a happy family who loves you... be contended and live within your means...
3 room or 4 room... its your famly home that matters and not your size of your house..

if you cant afford it. there will always be a place in SG u can.. instead of 5 mins from MRT.. take 15mins from MRT.... dont compare , and get on with it... life goes on.. as per car prices, COE etc.. if you cant afford it, there's always Cherry, proton , etc.. no body ask u buy HOnda..

Cheers mate..

once again.. this is a personal 2cents not as a property agent but as some one who has studied the Subject and is giving a very personal view..

no offence to any one !

Property agent for 1 year and stopped? HMM, I suppose it ain't a bed of rose.:think:

 

[La Fontaine]

Agree.... as a Home owner... I won't complaint my $112K 4Room is now worth $300K (last I check).

The sad fact is that S'pore being a small country with limited land, housing could never be dirty cheap. I just find it kind of strange that most here are talking about buying RESALE HDB at good location.... then complaining that the flats are $$$$. I brought my house at Woodlands 10years ago when Wondlands was still consider Ulu.... even when the MRT is already running there (I used to live in AMK).

As a 1st time buyer.... I could chose a newly built (but smaller, 90 sqM only) 4Room for $112K in Woodlands.... or $200K+ for a RESALE 3Room in Ang Mo Kio. So, needless to said.... Bigger floor space and cheaper price won the day.

Like some fellows ClubSNAP-er saids.... If you got $$$, feel free to buy wherever you want. But if you don't have enough $$$$.... then you will have to make do with what you have (smaller unit, further location from work, more Ulu location... etc).

My only advise is don't buy beyond your means.... I have seen enough Colleague buying and selling their House to get cash when there is a housing market boom... now end up with a expensive house worth only 3/4 of the price paid. And having to pay a monthly loan of $1.5K in their mid 40s.... :sweat:

View of someone who owns a property.

Now, if you own say a 5rm HDB. Not many have already paid up their loan. Many still got a 10year or longer loan to pay.

Now, do you wanna to upgrade to private property? It is tough. If you work out the sums, it is a giant leap to go for that condo priced above a million.

 

[Jukon]

any ppl thought of buying a van and convert into a mobile living quarter.

Good ideal, then drive your mobile house to East Coast to pitch tent you got seaview.

 

[scanner]

Hi Guys,

really would like to comment on this issue with some personal comments
No hard feelings to any one...

I'v been a property agent for the last 1 year.
I have to welcome any one of you who believe its an easy job to try it out..
some 1 commented " bring client go view a few hse - commission 3k ~ 4k "

Life is always greener on the other side, TRUST ME.. its hard work and more hard work & still MORE hard work involve, in sales . insurance, property etc .. agents always look like the bad person. i do agreed that there are some black sheeps as with any job..

but most of us are nothing but same as each other . hard working guys just trying to make a living ~ Week ends burned endless hours of OT . etc. etc.

AS PER TOPIC...

only 1 word explains everything..

GREED !!

our own greed,. : Buyers complain endlessly about High Prices , Sellers complain about Not Good enough...

Here. most who complain are looking to buy, any sellers here complaining prices are too high ?? can i see your hands ??

Gents, I have always believe , HOME is where the heart is.. u dont need a BIg house to have a happy family who loves you... be contended and live within your means...
3 room or 4 room... its your famly home that matters and not your size of your house..

if you cant afford it. there will always be a place in SG u can.. instead of 5 mins from MRT.. take 15mins from MRT.... dont compare , and get on with it... life goes on.. as per car prices, COE etc.. if you cant afford it, there's always Cherry, proton , etc.. no body ask u buy HOnda..

Cheers mate..

once again.. this is a personal 2cents not as a property agent but as some one who has studied the Subject and is giving a very personal view..

no offence to any one !

I just wonder, how much an average property agent earn per month or per annum?

 

[NitroTech]

I just wonder, how much an average property agent earn per month or per annum?

My cousin is an agent. He closes on average 2 condo deals and maybe 3 HDB deals a month.

For condo deals usually no co-broking but for HDB usually there will be.

For argument sake, let's just say the condos are priced at S$1m each and HDBs at S$400k each.... and for simplicity sake, let's say the comm is 1%. So you guys do the math.

Remember, that's on average.... you will sometimes get better months/ worse months etc... And also, the comm will have to be shared with their companies..... I think it's something like 40/60....

 

[scanner]

My cousin is an agent. He closes on average 2 condo deals and maybe 3 HDB deals a month.

For condo deals usually no co-broking but for HDB usually there will be.

For argument sake, let's just say the condos are priced at S$1m each and HDBs at S$400k each.... and for simplicity sake, let's say the comm is 1%. So you guys do the math.

Remember, that's on average.... you will sometimes get better months/ worse months etc... And also, the comm will have to be shared with their companies..... I think it's something like 40/60....

You mean 40% goes to the company?

If I remember correctly, the commission for HDB is around 1 to 2 percents and lets
assume it is 1%.

Calculation
1 condo deal is closed = 1% x 1M = $10000
3 x HDB(co-boking between a team of 3) = (3 x 400k x 1%)/3 = $4000

Less Companies share = 14k x 0.6 = $8400

Not a bad income.

 

[melvin]

You mean 40% goes to the company?

If I remember correctly, the commission for HDB is around 1 to 2 percents and lets
assume it is 1%.

Calculation
1 condo deal is closed = 1% x 1M = $10000
3 x HDB(co-boking between a team of 3) = (3 x 400k x 1%)/3 = $4000

Less Companies share = 14k x 0.6 = $8400

Not a bad income.

Money will take 3 months to come. Not forgetting other expenses transportation n marketing cost say another $2k per property! So earning $8400 in 3 months = good $$$ ? :think:

 

[USM]

Money will take 3 months to come. Not forgetting other expenses transportation n marketing cost say another $2k per property! So earning $8400 in 3 months = good $$$ ? :think:

No, it is $8400 per month.

 

[zcf]

Money will take 3 months to come. Not forgetting other expenses transportation n marketing cost say another $2k per property! So earning $8400 in 3 months = good $$$ ? :think:

earning $6.4K (minus transportation & marketing) every month is still good $$$ (though each deal need to wait for 3 month), though part of it need to contribute into CPF, do the company contribute to the CPF also?

 

[diver-hloc]

View of someone who owns a property.

Now, if you own say a 5rm HDB. Not many have already paid up their loan. Many still got a 10year or longer loan to pay.

Now, do you wanna to upgrade to private property? It is tough. If you work out the sums, it is a giant leap to go for that condo priced above a million.

I'm on a 30year loan from HDB.... still 20years to go. It would finish a few years before I hit 55. Its quite simple.... you could quick quick pay off your loan by borrowing less... or pay more monthly. I rather pay long time but less monthly..... less stress every month about payment since my monthly CPF more than enough to cover the monthly payment. Even if I'm to lose my Job now.... there's still enough $$$ inside my CPF to pay at least 2 year. :sweat:

Since I'm not someone who need a big house to be happy..... not in anyway planning to upgrade or will be getting a Condo. To me.... a HOUSE is a HOME first.... as Investment a very distance 2nd. I'm not going to work day & night just to own a big house that I could hadly maintance payment.... and then praying day after day that I could sell off my Unit for a profit before the Loanshark/Bank comes a calling :bsmilie:

But of course.... that just me... :sweat:

 

[diver-hloc]

No, it is $8400 per month.

Money will take 3 months to come. Not forgetting other expenses transportation n marketing cost say another $2k per property! So earning $8400 in 3 months = good $$$ ? :think:

earning $6.4K (minus transportation & marketing) every month is still good $$$ (though each deal need to wait for 3 month), though part of it need to contribute into CPF, do the company contribute to the CPF also?

You mean 40% goes to the company?

If I remember correctly, the commission for HDB is around 1 to 2 percents and lets
assume it is 1%.

Calculation
1 condo deal is closed = 1% x 1M = $10000
3 x HDB(co-boking between a team of 3) = (3 x 400k x 1%)/3 = $4000

Less Companies share = 14k x 0.6 = $8400

Not a bad income.

And then when the housing market is down the drain...... :sweat:

 

[scanner]

And then when the housing market is down the drain...... :sweat:

And then when the market is booming.....
Look at the recent crazy long queue to purchase those newly launch condo...

 

[melvin]

earning $6.4K (minus transportation & marketing) every month is still good $$$ (though each deal need to wait for 3 month), though part of it need to contribute into CPF, do the company contribute to the CPF also?

CPF contribute ur own!:bsmilie:

 

[melvin]

earning $6.4K (minus transportation & marketing) every month is still good $$$ (though each deal need to wait for 3 month), though part of it need to contribute into CPF, do the company contribute to the CPF also?

That is provided u close the same amount of deal every month.

Some property takes months to sell some 3 mths some 6 mths! add in the expenses for these!

3-6mths to sell another 3 mths to collect $$$ where gt earn?:sweat:

 

[NitroTech]

You mean 40% goes to the company?

If I remember correctly, the commission for HDB is around 1 to 2 percents and lets
assume it is 1%.

Calculation
1 condo deal is closed = 1% x 1M = $10000
3 x HDB(co-boking between a team of 3) = (3 x 400k x 1%)/3 = $4000

Less Companies share = 14k x 0.6 = $8400

Not a bad income.

why is the comm selling HDB shared by 3 parties? Co-broke most of the time between 2 parties.... Seller 2%, Buyer 1%.....

so assuming the agent brings the buyers for the 3 deals..... he gets 1% of $400k * 3 = $12k

So his income is like ($20k + $12k) x 0.6 = $19,200......


PS: He sells 2 condos a month, not one

 

[NitroTech]

That is provided u close the same amount of deal every month.

Some property takes months to sell some 3 mths some 6 mths! add in the expenses for these!

3-6mths to sell another 3 mths to collect $$$ where gt earn?:sweat:

You only worry about that if you are a fresh agent.... if you have been in the business for years, you will have savings for you to tahan.

 

[NitroTech]

And then when the housing market is down the drain...... :sweat:

Honestly, what those agents make in a year when the market is booming can last them till the next cycle....

For YA 2008 (cos 2007 was the boom), my cousin had to seek advice from an audit firm about how to go about filing his tax. After all the possible deductions etc, his income tax payable was still a 6 digit figure.

Go figure. :think: