Sunday, May 24, 2009

Excuse Me, Are You a Property Agent? (1)

There was a time when I thought of writing a book about my work as a property agent.
The title would be "Excuse Me, Are You a Property Agent?" When I mentioned this to a client, he teased me and said, "Huh! I know a Bonnie Hicks, but I'm so thrilled to know a Bonnie Kam.!"

Perhaps I will write essays on my work in my blog and later compile them into a book. Hence, articles on my work will have the title, "Excuse Me, Are You a Property Agent?".

Teachers often complain that it is so tiring to teach. Having been a teacher before, I realise that it is even tougher to be a property agent. At least, teachers know the level of the students, eg. Secondary 1, 2, 3, 4 or Junior Colleage One and Two. Primary school teachers will know the age group of their students and teach accordingly.

As agents we meet with people from all walks of life. I have observed an interesting phenenomena. A person with a degree could actually be "elementary" when it comes to property investments. You can explain to him till your face turns blue, and he still does not get it!!! On the extreme end is someone with primary school education but he appears like a degree holder where property investments are concerned!!! He may not even speak good English or Mandarin, but he makes tons of profits from buying the right investments. He snaps up properties without asking irrelevant questions. By the time the degree holder comes back with a reply, all the good properties have been snapped up by these street-wise investors! These investors are not bothered with little details. As long as they feel the price is right and it is a good investment, they zoom in. Other more well-educated ones will analyse until they get paralysed with fear and worries. This is probably why they often miss the boats, and very often the ocean-liners too.

Many buyers rely so heavily on caveats. It is true that caveats are a guide as to how much a property should cost. However, when the property market is moving up, buyers cannot solely rely on caveats because they cannot be used as a point for bargaining. In Singapore, when property market goes up, it is almost like an exponential curve and sellers will adhere to their asking price. For some reason, the magazines and newspapers are somewhat behind time in their reporting! When they mentioned that the property market was still slow, we agents were smiling for we knew it was not quite accurate as we had been serving clients and closing deals. Like doctors who feel the pulse of their patients, we agents also feel the pulse of the flow of the market. Hence, it is quite a good idea for buyers to trust agents a little for their feedback. It is good to do some research but at the end of the day, it is even more imperative to just trust your gut feelings, as well as to trust the agent a little. Also bear in mind that just as there are no perfect husbands or wives, there are also no perfect properties.

Gan Chau


Anonymous said...

Hi Choo2,

How are you? I love to read your blog, always full of interesting articles. I hope to meet up with you again.
God bless.


The Oriental Express said...

Thanks Doris. Will have to some two weeks later? Property market hot like chilli padi.
I dare not have too many social appts in case something urgent crops up.