If you look at my real estate experience in terms of transaction figures and property types, you will notice that I have sold high-end luxury properties as high as $9M to transacting HDB rental flats as low as $1500.
For over a decade, I have navigated this dynamic landscape as a working mother and experienced realtor, engaging with diverse clientele ranging from HDB owners seeking their dream homes to affluent landed property owners looking to expand their investment portfolios.
Along this journey, I have encountered many interesting moments, which have not only shaped my professional expertise.
But it has also instilled some invaluable insights on human behavior.
Here I share 5 life lessons I have gathered throughout my 13 years in the Singapore real estate market, offering a glimpse into the rich tapestry of experiences that have defined my career and personal growth.
#1: People’s behavior are not determined by their financial background, race, gender or nationality
As an agent, I have met sellers, buyers and tenants from all sorts of backgrounds.
I remembered once where I met a potential tenant who came to check out the unit I was marketing.
He did not bother to take off his shoes despite me asking in a respectful manner.
At the same time, he highlighted his “high-flying” position in a financial institution in a rather abrasive manner.
Needless to say, I did not shortlist him as a potential tenant because I am sure it would not develop into a healthy and respectable landlord-tenant relationship in the future.
If you ever been in the receiving end of such treatment, I am sure you know it would have taken all your internal strength to maintain a level of professionalism to brush it off.
Am I used to dealing with working professionals of all stripes, positions and backgrounds?
Yes, of course.
In fact, if you looked at the size of the monthly rental of some of the units I marketed – they are between the range of $4k to $15k per month.
So I am used to dealing with such high-flyers as clientele.
Over the years, I have had the opportunity to interact with clients from considerably humble backgrounds to some with extremely privileged lives.
Some of them have even gone on to become my good friends who have no qualms to invite me over in their respective clubs.
I’m immensely glad to know some of them at a more intimate level where we catch up over coffee/ lunches, playdates (my daughter and mimi – an adorable toy poodle) or even a good intensive game of badminton.
I wish I could say the rich have better behavior or the less well-heeled have worse behavior – but that’s not true.
The fact is that all sort of terrible behavior out there will cut across all socio-economic status.
Hence, I make it a habit to never judge a person upfront based on how they dress or talk.
But by how they carry themselves and how they treat other people around them.
If you gone through this, you know how painful it is to be treated so dismissively and without any respect.
Thanks to my years of experience of dealing with such behavior, I am no longer impressed by job titles, the size of your remuneration or the type of car you drive.
I hold on to the Golden Rule steadfastly.
Treat others the way you want yourself to be treated.
That’s what my parents taught me.
#2: Most agents will always look out for their own interests
People who are nice and pleasant are always easier to deal with. It makes life so much simpler.
That being said, these niceties will shroud their hidden agenda.
It could be they are aiming for a lower price, a quick deal or some other reason.
People will look out for their own interests. And that includes agents as well.
Back when the property market was very hot in 2021-2022 period, it was common to see buyer agents get ignored by seller agents – especially in the private property segment.
It is not upfront rejection – usually they just make it very difficult for buyers represented by agents to view the unit.
It came to the point where I asked my buyer-clients to inform the seller side that they are not represented by an agent.
Why? This is because such seller agents are usually trying to protect their commission from being “shared” with the buyer agent.
But in the HDB market, you will find that seller agents are more than happy to work with buyer agents. Why?
This is because these buyers are paying a commission to their buyer agent and there is absolutely no need to share commissions.
At the same time, it also means that HDB buyers represented by agents have been pre-qualified and likely to make the transaction proceed smoothly.
This is the behavior difference of HDB agents vs private property agents – that all who are property hunting in the Singapore market should be aware of.
Sellers will always want the highest price possible.
Buyers will always want the best deal possible.
That gap in expectations?
That’s where the agent comes in.
The moment when one party realizes the other party might not have all the knowledge or context, it becomes easier for them to take advantage of the other party.
Hence, it is so important to have someone on your side that can ensure your goals are the forefront of the negotiation process.
#3: The property is not the most important thing
If you have gone through enough property transactions, you will notice this – the property is merely a physical living space.
But to the owner who is selling it, the potential buyers who have interest to purchase it – it is much more than that.
For the sellers, it has been their home and shelter for years.
For the buyers, it is a place to open a new chapter and build new memories.
So what is the most important thing?
It is the feelings and emotions that has been built up and attached to the property.
Not the property itself.
I understand this deeply.
And that’s why you engage an agent to represent you – to keep the transaction at arms’ length – so you don’t fall into emotional traps that might cost you financially.
Someone to prevent you from overpaying for a property.
Someone to negotiate the best possible price for you without you getting emotionally entangled.
And for sellers, you need someone to be your shield against potential lowballers who might affect you emotionally.
Someone who is able to fight for the best price for you.
#4: Negotiation is always decided by the more hardworking agent
One of the best skillsets I am proud to have built up in my real estate career is my ability to negotiate.
And I noticed if I just worked a little bit harder than the agent on the opposing side, my clients will win.
For me, I have seen how “lazy” agents can be.
When they merely forward messages to me directly from their client to me.
When they don’t bother to paraphrase or simplify the needs or requirements.
When they don’t even research on the surroundings in trying to secure a better deal for their client.
That’s when I know I can have the upper hand and secure the best possible deal for my client.
Recently, I was marketing this unit with a weird kitchen layout. During the viewings, I noticed I received a lot of objections on this.
So, I used a video of how the kitchen will look like when it’s remodeled.
How did I get the video? I searched for it by asking around and tapping on my network.
Used my own initiative to counter this objection and let potential buyers see how the kitchen can look like with some imagination.
I stopped getting objections and eventually, attracted a lot more higher offers.
#5: There are many currencies in life beyond money
Being a real estate agent, I have seen my fair share of families squabbling or breaking apart due to money.
Financial assets like property – instead of being a source of security and comfort to families and loved ones – becomes a source of strife and unhappiness.
The classic mistake that I see being made?
When people have too narrow a focus on building wealth and climbing the career ladder, while neglecting the other currencies of life.
And so while I appreciate the importance of making money or saving money, it is essential that we acknowledge there are actually many other currencies in life beyond money.
Like good health, free time and happy relationships.
These are the things we cannot buy with money.
I think finding a balance between the tangible and the intangibles is key.
Conclusion
One of the things that I recognize about being self-employed is that my real estate business is a journey, not a destination.
For every journey, there has always been 2 ways to proceed.
The easy way or the hard way.
There has been many temptations to take shortcuts to get to a certain goal.
- Just sell and close that questionable new launch.
- Say the words but not believe in it – just to secure a deal.
The easy money is not worth it – because easy come is always easy go.
In today’s modern age of digital screens and social media, what really makes the difference between success and failure is actually good judgement.
This is what I try to do every single day.
Good judgement is the product of a calm and curious mind.
It is about reasoning without motivation and attachment.
I am also aware of what will weaken my sense of judgment.
That will be ego.
Hence, it is really about setting aside my ego to see the bigger picture and ultimately for the betterment of my clients who put their trust in me.
If you like to explore between which agents to select for your property transaction, I trust you can make a judgment call as well on my ability to help you.
Feel free to drop me a message via WhatsApp for a no-obligation discussion.
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