WHICH PROPERTY AGENT DO YOU WANT TO BE?

If you are interested in becoming a property negotiator, whether it is because you are currently out of work, or looking to explore a career change, you should first understand the types of property agent in the market. Which agent do you want to be?

Property agent for sub sale

Property agents also categorized into two where the first one focuses on sub sale market. This type of property agent is mainly responsible in helping the owner of certain property to look for potential buyers as well as assisting the property buyers to look for the potential sellers.

Your work begins with identifying property seller. Then, you need to convince them to appoint you as agent to sell. Next you will need to advertise whether online or putting up banners to available unit to sell. Once you receive enquiry, you need to call seller to arrange seller’s convenience to be able to show the unit. Thereafter, you need to arrange buyer’s available time to match seller’s convenient time. Lastly, once you manage to get both their time fix, you need to be present on that day to facilitate the viewing of the unit. You would also need to perform some marketing and sales for the unit to get more customers, and quicker turnaround. Else the unit could easily have been sold off by another property agent as the owner might have engaged a few agents to assist them to sell their house.

Although as explained above, it seems like there are multiple challenges being a subsale agent. However since this role requires you to spend more time and money in order to pay for the cost of advertising, you can expect that your commission will slightly be higher as compared to agent selling new launch project.

The skills required are commonly able to negotiate in a polite and persuasive manner to win the interest of the clients and owners, a confident and an outgoing manner that can win trust and reassure people, commercial awareness with the ability to achieve sales target, excellent communication skills to liaise with different professional contacts and an understanding to market the intended property.

Challenges for Sub-sale Agent:

• How they can tell the property owners the actual worth of their property because some owners could not take the sudden drop or rise of their property worth.
• Another one is to negotiate the best deal that could benefit both the owners and the clients which is sometimes impossible.
• Next is that you may need to travel a long distance to show the unit to be sold, only to be told that the customer has seen this unit with another property agent, or they might not turn up.
• In addition, what if you had already had a conflict appointment, but this second buyer is flying off, and can only make it at this time.

Property Agent for Under-Construction Properties

The other type of property agents are focused mainly on under-construction properties, however the responsibility is equally as tough as the sub sale. First they need the search for the available developers’ units to sell. Most of the time, this is already being provided by the realty agencies for their agents to just focus on selling. In addition, the real estate agencies will usually also provide all the marketing materials such as brochures and booths which will are all fully sponsored. Last but not least, the property agent will also be mentored and trained by the experienced team leader.

Therefore, as you can see, with all the hardwork on sourcing for available projects to be sold, to financing of all the marketing tools and amenities by the real estate agencies, it is only logical that your commission is slightly lower. However, property agent focusing on undercon properties could easily make up for it by purely focusing on selling, and getting higher volume of sales in order to earn higher commission. Since commission based on how many sales you closed, closing more deals might help you to obtain better commission in the end.

The skills required for this role are mainly the ability to find the right information regarding the undercon property to help you present it to your potential buyer, the determine and bubbly personality to be able to gain consumer’s trust and reassurance, good research skills to find the right property that can yield more interest to the buyers and good marketing strategy that can help bring more interest to the property.

Challenges for Project Marketing Agent:

• Continuously finding availability stocks of undercon projects to sell. Developers usually like to deal with established or proven real estate agency before passing a certain project to them. For those less established agency, they might have only some difficult units to sell.
• The next thing is to get the potential buyers to meet with the bank lending criteria because some of the buyers have certain issues with the bank that results with their loan to be rejected continuously.
• Besides that, it might be a bit boring based at a particular booth or sales location for a long period of time selling the same type of property. Unlike subsale agent where you are required to travel to other location to show different house to be sold.

Conclusion

Whilst it seems like the roles and skill set of property negotiators are almost similar whether it is subsale agent or new launch project agent, one thing is very certain. You need to have lots of experience in dealing with multiple requirements in terms of property. Hence, if you are looking to make a first step into real estate industry, you should start off with new launch project marketing negotiator. You are given all the sales script training, as well as being guided by a senior mentor. In addition, you only need to focus on a specific project to market, and be familiarise with a specific location.