Unsucessful property agents
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So far I heard many stories about successful property agents who makes lots of money.
There is this theory going on about being a property agent: "Suppose you are very unlucky. You only manage to sell a 4 room hdb flat that cost about $400 000 in 2 months. You make a 1% commission which $4000 which means you still get to earn $2000 a month. Compare to a office worker who work 5 days a week, 9 hours a day and maybe don't veen earn $4000 in 2 months".
Is it really that easy to make money being a property agent?
Close 1 deal and the amount of commission you make is what a normal office worker have to work for a few months to earn.
Are there any stories of unsuccessful proerty agents who maybe many months or even many years still did not manage to close a single deal and than they give up and go to start a normal job?
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This is known as survivorship bias.
The reason you don't find too many unsuccessful property agents is because of just that - they are unsuccessful after say 6 months or 1 year and they drop out of the profession.
Those that remain are those that can make a living out of it, otherwise they too would have quit the profession.
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Originally posted by charlize:
This is known as survivorship bias.
The reason you don't find too many unsuccessful property agents is because of just that - they are unsuccessful after say 6 months or 1 year and they drop out of the profession.
Those that remain are those that can make a living out of it, otherwise they too would have quit the profession.
How you know?Are you 1 of the unsuccessful property agents or you know of anyone belong to the category of unsuccessful property agent?
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hmm btw do property agents get basic pay?
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I look at char's response and the reply, I
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Originally posted by xunni:
How you know?Are you 1 of the unsuccessful property agents or you know of anyone belong to the category of unsuccessful property agent?
Look at it this way.
Will an unsuccessful property agent tell the whole world she cmi?
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Originally posted by charlize:
Look at it this way.
Will an unsuccessful property agent tell the whole world she cmi?
She can tell the whole world she cmi as a warning to them that all is not rosy in the propert world but she need not reveal her real identity and doing it on the internet in sgforum is 1 such way Is that what you are trying to do now?
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which loserish office worker canot eben earn 4k in 2 mths.
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which loserish office worker canot eben earn 4k in 2 mths.
Hey kid, not earning 4K in 2 mths doesnt mean the person is a loser
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Originally posted by xunni:
So far I heard many stories about successful property agents who makes lots of money.
There is this theory going on about being a property agent: "Suppose you are very unlucky. You only manage to sell a 4 room hdb flat that cost about $400 000 in 2 months. You make a 1% commission which $4000 which means you still get to earn $2000 a month. Compare to a office worker who work 5 days a week, 9 hours a day and maybe don't veen earn $4000 in 2 months".
Is it really that easy to make money being a property agent?
Close 1 deal and the amount of commission you make is what a normal office worker have to work for a few months to earn.
Are there any stories of unsuccessful proerty agents who maybe many months or even many years still did not manage to close a single deal and than they give up and go to start a normal job?
Most sales jobs will their equivalent theories be it property, insurance, MLM, direct sales, cars, etc. But for every successful story out there, there are a huge number who are unsuccessful that leave the business.
Look at it this way, every sales industry will have their brightest and the unsuccessful. The really successful ones earn huge amounts on money, especially when they have their own team. The unsuccessful will struggle some months or a couple of years then resign. If it is as easy like what you mentioned, then why isn't everyone a property agent (or Insurance, MLM, etc)?
So to answer your last question, there are definitely many unsuccessful agents who left, or converted to part time as selling property full time does not provide them a stable income.
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It depends what you mean by "success". For someone who needs to spend $3000 a month, and earn $2000 (by your example), then he's "not successful" by his own measure.
But for someone who's happy with $1000 a month, earning $2000 a month is "successful".
At the end of the day, it's up to individual... whether or not the income is meeting his/her needs.
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It depends what you mean by "success". For someone who needs to spend $3000 a month, and earn $2000 (by your example), then he's "not successful" by his own measure.
But for someone who's happy with $1000 a month, earning $2000 a month is "successful".
At the end of the day, it's up to individual... whether or not the income is meeting his/her needs.
*Clap Clap Clap*
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Originally posted by xunni:
So far I heard many stories about successful property agents who makes lots of money.
There is this theory going on about being a property agent: "Suppose you are very unlucky. You only manage to sell a 4 room hdb flat that cost about $400 000 in 2 months. You make a 1% commission which $4000 which means you still get to earn $2000 a month. Compare to a office worker who work 5 days a week, 9 hours a day and maybe don't veen earn $4000 in 2 months".
Is it really that easy to make money being a property agent?
Close 1 deal and the amount of commission you make is what a normal office worker have to work for a few months to earn.
Are there any stories of unsuccessful proerty agents who maybe many months or even many years still did not manage to close a single deal and than they give up and go to start a normal job?
There are many hidden cost as a property agent that are not known to the general public. It normally cause a false impression that an agent can sell just one flat a month to survive.
Just a correction, when a property agent is serving a seller, the standard recommended commission is 2%, not 1%. the 1% rate exists because of novice agent hungry for business. The standard commission when you serve a buyer would be 1%.
A typical 4 Room flat in SG is around SGD 250K - SGD 300K. Say a property agent gets only 1% commission, the commission is around $2.5K. The costs in selling a property involved are as follows.
- Advertising
- Transport
- Cost of Valuation
- Miscellaneous Cost
- Company Commission
- Salary to assistant(s) / Coordinator(s)
Depending on how long it takes you to sell the property, the cost of selling can vary by quite a bit. Let's say it takes 1 month to find a suitable buyer for the property, the cost of selling the property should be close to around $600-$800. But if it drags on till 3 months the cost of selling might increase to $1500-$2000. In such a case, the commission involved in selling the house would not be really worth it when you spread it over 3 months of work. On top of that, you do not get the commission until the transaction is complete which can be 3 months later. This sale would be worth the effort if the commission is 2%, but definitely not when it is 1%.
Thus in this case, a FULL TIME property agent can never survive on 1 sale a month. This is a false assumption done by many people.
Another issue is that most newly joined property agents do not make it beyond 3 months. This is because they normally would not get paid till 3 months later and during this period of none payment survivability is the problem. And since they never make it to beyond 3 months, they are relatively unknown.
In the first year of working as a property agent, there is a lot of hard-work behind the scenes which is relatively unknown to many. The building up of the network, the distribution of flyers by yourself to save costs, and the long hours. Yes the long hours, if you are having short hours in the first year, there is something wrong because it means you are not having enough appointments or is not working hard enough. I know of a lady property agent who goes to factories in Tuas at 3a.m. in the morning so that she can canvass for rental tenants during their break time when these workers have time to talk to you. That's hardwork.
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Originally posted by dotaro:
Hey kid, not earning 4K in 2 mths doesnt mean the person is a loser
u oso one of dem ah?
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Originally posted by xunni:
She can tell the whole world she cmi as a warning to them that all is not rosy in the propert world but she need not reveal her real identity and doing it on the internet in sgforum is 1 such way Is that what you are trying to do now?
Great.
Now I am a property agent who cmi.
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Originally posted by charlize:
Great.
Now I am a property agent who cmi.
Great that you actually have the guts to admit it.Not many people have the guts to admit that they cmi. But don't feel too sad as there are many people in this world who cmi. You are not alone
Always remember this saying: "winning and losing is part and parcel of life"
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Originally posted by xunni:
Great that you actually have the guts to admit it.Not many people have the guts to admit that they cmi. But don't feel too sad as there are many people in this world who cmi. You are not alone
Always remember this saying: "winning and losing is part and parcel of life"
Damn if any property agent knows the meaning of Black Swan events.
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Originally posted by Hello Kitty:
which loserish office worker canot eben earn 4k in 2 mths.
hmm... let mi guess.. i think at least 30%-40% of office worker are not making 2k per mth ....unless of cos u believe what our government tell u lah -
Originally posted by I-like-flings(m):
hmm... let mi guess.. i think at least 30%-40% of office worker are not making 2k per mth ....unless of cos u believe what our government tell u lahYou never believe them?
How can?
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Originally posted by Callan:
I know of a lady property agent who goes to factories in Tuas at 3a.m. in the morning so that she can canvass for rental tenants during their break time when these workers have time to talk to you. That's hardwork.
I wonder how does she travel to tuas at 3am. Using taxi? Car?And at 3am, she may just end up being raped..
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Originally posted by charlize:
Damn if any property agent knows the meaning of Black Swan events.
I am not a property agent but I understand
But I don't understand how you ended up as a cmi property agent
Maybe you can explain that to me and to all of us here
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Originally posted by xunni:
I wonder how does she travel to tuas at 3am. Using taxi? Car?And at 3am, she may just end up being raped..
She drives...and well...Singapore is actually quite a safe place and you can get raped anytime of the day, not just at 3a.m. And most importantly, that's the risk she dares to take to achieve her success and for that I respect her as a peer.
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Originally posted by I-like-flings(m):
hmm... let mi guess.. i think at least 30%-40% of office worker are not making 2k per mth ....unless of cos u believe what our government tell u lah
fm whr u get dat pathetic fig.
u so free, muz get out of ur house more.