As novice property investors, it is always good to hear what the industry players have to say about the property market. Although we can occasionally get property market reports from the local newspapers or magazine, it is always best if we can directly ask them what they thought of the Singapore property market.
 | For this feature, we have the pleasure of interviewing Ms Evonne Yeo from ERA. Evonne has been in the real estate industry for the last two and a half years. After nearly 7 years of studying abroad, Evonne came back to Singapore and pursued a career in advertising. She did internships in M&C Saatchi and TBWA Singapore before stumbling upon her present career path. Evonne started by helping her friends and family sell their properties. Over time, she found that helping people buy and sell properties was exciting and rewarding. It did not take long for her to decide that she wanted to become a property agent, as she enjoyed the satisfaction of helping people find their “dream homes”. |
Novice Property Investor (NPI): Can you share a memorable incident that happened to you during the course of your career?
One of the more memorable incidents I had was when I helped my Indonesian clients sell one of their properties here. Besides advising them on how they should price their property, I also worked out a marketing plan for them.
The unit had a gorgeous sea view and I was given a month to sell their apartment. They wanted to sell it quick before sentiments towards the property market changed. I knew I had to sell it fast and I managed to close the deal within 3 weeks.
When I handled this deal, I treated the apartment as if it was my own. Besides tidying the unit, I arranged for the owner’s furnishings to be shipped backed to Indonesia. I even helped the seller sweep the floors of the property, just before it was handed over to the new buyer.
As a whole, this was a memorable incident for me. As a result of my hard work, I not only had more referrals and full commission, my clients even gave me a plasma TV set that cost about $4,000 to recognise my efforts.
_
NPI: What qualities do you think a property agent needs to have before he/she can do well?
I believe that a property agent needs to have positive mental attitude. This means that the agent will need to have the drive, ambition and the determination to never give up. In short, the agent must want to be the best in the industry before he/she can do well. All these will ensure that they will go the extra mile in serving their clients.
It is also important that an agent keeps learning and improving themselves. Government regulations change frequently and an agent needs to keep attending seminars and courses to know the latest trends in the property market.
_
NPI: What do you think are your specialties and strengths? How do you value-add to your customers?
For my strengths, I only focus in a maximum of 2 deals at any one time. This gives me a chance to beat my competitors as am I able to be more focus in meeting my sellers needs. I also spend aggressively on online and media marketing. Having worked in the advertising line, I found that it is important to advertise and I have seen results from my efforts.
For my specialties, I would say that it is my value added service. I not only give my best to my clients, I try to give them something extra. For example, I usually give my clients a bottle of wine after each property or rental closing. On several occasions, I have brought the buyers and sellers out for meals so that the deals can be negotiated over a meal in a fine restaurant. These strategies have proven to be effective and my clients really appreciate my extra effort.
In addition, I am aware that most foreign buyers do not have transport and it is hard for them to get around as they may not be familiar with Singapore. Thus as a value added service, I provide them the following:
* Hassle-free viewings and 24/7 Concierge Services and assistance.
* Two
* Ensure a well planned schedule so that my clients can spend the least amount of waiting time.
* Provide 100% commitment in managing their investments and to clearly communicate the terms, conditions and regulations at all times.
_
NPI: How do you differentiate yourself from the other property agents in the market?
I try my best to give the best service to my clients and my marketing is second to none. There are so many property agents in the market, so I try to ensure that I stand out from the rest by providing good service and sound advice. This is how I ensure that my buyers and sellers do not forget me.
_
NPI: Do you invest in the
No, I do not. I have been taught by my mentors to only invest if I have sufficient cash to pay for my property in full.
_
NPI: What are your views of the property market for the next 6 months?
It will possibly soften over the next few months.
_
NPI: Is now a good time for new investors or homebuyers to enter the market? Why or why not?
In my opinion, it is currently is a good time for homebuyers to enter the market as they genuinely need to place to live in. There is a very large pool of investors who are waiting for the market to drop. Assuming the market softens over the next few months and all of them come in at around the same time to buy whatever is available , choice units that are currently available could be snapped up by then.
For example, I recently had a client that was prepared to pay $1400 to $1450psf for a few units within a particular project. His offer price was much higher than the recently transacted prices of between $1030 and $1350psf, as he wanted to own some of the choice units. Unfortunately , the deal did not go through as the units he wanted were not available.
_
NPI: If you were to invest now, what property/projects would you buy? Why?
I would buy properties that have the following characteristics:
* Close to MRTs and amenities.
* Properties that have spectacular views.
* Condominiums or apartments along the sea or bay
* Developments in central areas.
__
NPI: In your opinion, what are some of the issues that new property investors and homebuyers face?
Although I am fairly new to the property industry, most investors I have met fall into 2 categories. First are those who take full loans to buy many properties. These people may find themselves stuck with their properties when the market turns. They may not have the holding power as they tend to be over leveraged and maybe forced to sell their properties at a loss.
The second type are those who buy many properties, but pay up in cash. They do not borrow from the banks and they can afford to hold on to their investments even if the market turns. They are not slaves to the banks and can wait until the market recovers before selling.
_
NPI: In your opinion, is there any “secrets” to do well and make money from property investing?
Listen to your instincts. You should also have a large amount of fixed savings and safe investments before speculating in property. Do not try to read the market cycles and do not follow the crowd. By the time crowd reacts to a particular trend, it may already be too late.
_
NPI: What advice can you give a new homebuyer or property investor who is thinking of buying his first property?
For homebuyers, try to ensure that the property you are buying is an average of 2.5times your annual income. This will ensure that you do not overspend on your property purchase.
For investors, make sure you have the cash to pay up the property in full. Besides that, you should focus on core regions such as areas around
source : http://novicepropertyinvestor.com/comm/?p=80
Nice and helpful article. It is very useful for me to learn and understand easily.
BalasHapusSingapore Property Agent