Introduction
Once every blue moon, I do like to write on articles that might not pertain exactly to real estate matters. This is one such article!
I first started writing my property articles almost a year back in March 2020. Sure, I was writing way before then and looking back, I consider those pieces to be really bad. This is because those articles are just reiterated information from government agency websites, and there was no reason for me to rehash the same material.
That’s when I decided to go back to the drawing board to figure out what people like. Drawing inspiration from some of my favourite influencers, the best content that people do enjoy is those that showcase genuine and authentic material.
In their own right, aren’t real estate salespersons considered influencers? The moment they gain a substantial following, that’s when business and referrals come in. If any of you influencers are out there reading this, contact me! I’m open to creating interesting content for both our audiences!
Consider this to be my very own superhero origin and these are the formative steps that I had to take to be the best real estate writer/agent in Singapore!
I’ve got to start from somewhere, and the only way is to write, write and write more articles with horrible grammar, poor vocabulary and abysmal sentence structuring!
What’s The Purpose of The Blog?
I do get this question from time to time and honestly, it’s a tough question to answer. In a nutshell, it’s a resource for anyone and everyone interested in Singapore’s real estate market.
Young couple looking to DIY their property purchase? I’ve got you covered.
Family of five looking into new launch properties? Here you go.
Wondering if it is time to sell your BTO flat? Say no more.
Some might consider me to be foolish to give away important information, but the real estate market is changing and real estate agents have to move on with the times to find more creative ways to get business.
The blog also provides an interesting avenue for sellers who want to be part of the Estate Magnates journey, and this comes in the form of a written review for their property.
Instead of chunking loads of information into a listing on PropertyGuru or 99.co, my reviews take a more layered approach to breakdown every important information for the discerning buyer. To provide such extensive information, I’ll have to analyze all details in regards to the property from its interiors, to its potential as an investment.
That being said, I do not shy away from any point which might detract from the overall value of the property. As the saying goes, one man’s trash is another’s treasure. I believe that for every nine out of ten buyers that hate the morning sun, there’s that one that loves it for what it is!
This leads to my second, less altruistic reason and that is the blog serves as my way of getting new business and as proof of my knowledge and expertise of the markets.
Who will require my services?
Busy, ethical clients who trust my professionalism and are willing to set a realistic price for the sale/rental of their property.
Ethical clients who might be facing a challenging scenario.
Ethical clients who will require me to play the devil’s advocate.
The reason why I heavily emphasized on clients being ethical is that all transactions are a two-way street, and I feel that real estate salespersons are extremely vulnerable to dishonest practices.
I’ve come across plenty of such unethical practices, which I shall not dive in further detail. I frankly do without such cases as my reputation will be on the line.
The Articles That I’ve Written
Out of the eighty articles that I’ve written, there are some that I’m particularly proud of. These can be the reasons for them being extremely popular, or simply just me voicing out my opinions.
The Articles
My Thoughts on New Launches
New launch condos are a fantastic option for buyers, should they be interested in a fresh lease and new property. However, I feel that there are too many conflict of interest in play which places a potential buyer in a vulnerable position. For that same reason, the potential buyer should be very careful and conduct thorough research into the development before buying. What can be a good buy for your neighbour might not be for you.
I do understand that new launch properties is part and parcel of the real estate market, and can’t be avoided. As such, I have done reviews on some popular condos so do take a look at them.
Talks on Cap on Agent Commissions
This is a sensitive topic, so do take my remarks with a grain of salt.
In short, I do not feel that there is a need to place a cap on agent commissions simply because free market forces will easily dictate what is a reasonable sum for our services.
Even going to any professionals, there is no cap for their services, so why should the real estate industry be any different?
I feel that it is incorrect for the real estate scholars to mention that placing a cap will improve transparency, and for developers to better manage their costs.
Let’s take for example a potential scenario. With all commissions being capped to 1%, there is bound to be an excess of funds (i.e., marketing dollars). It is a fallacy to assume that real estate prices to the end-consumer will be automatically reduced. These excess dollars may potentially be recirculated through other business channels or taken as earnings.
To truly aid in transparency, real estate developers should ultimately declare the commissions given to agents, be it 1% or 8%, and let these developers manage their expectations on profits. Still, I don’t think this is the best solution as it has its hosts of problems, but it works as a good middle ground.
Salespeople from other industries will surely be able to relate to my sentiment. Does it make logical sense to outright declare your commissions earned from a sale of your product?
Concerning the comment on how capping agents’ commissions can help real estate developers better manage their costs, I will be very afraid if big real estate developers are unable to work out their numbers/costs as this shows that there is a glaring fault in their financing department.
Ultimately, I feel that the entire commentary is biased and skewed. Sales and marketing have, and always been, a crucial business function. It is not logical to penalize the salespeople for these develoeprs' poor business decisions.
If capping on commissions were a thing in other industries, I’ll not be surprised at huge losses of revenue in companies that have such a practice.
Thoughts on Video Listings
Generally, I do feel that video listings do help, but their effectiveness is questionable. My thoughts are also similarly reflected by other well-known real estate bloggers. However, its usefulness should not be underestimated. I’ll be keeping a close eye on such matters if my opinion can be swayed.
Video listings provide a strong impression for sellers but the fundamentals of what attracts a buyer still applies. Such fundamentals include the general asking price, location, state of repairs, etc.
In my opinion, creating a video listing for a property with poor fundamentals will do very little for the sellers, and it only helps in increasing the brand exposure for marketers who seek to create a strong impact on potential sellers, to pull in more listings.
The Future of Estate Magnates
Creating articles like these not only provides a break for me away from my usual posts, but it also provides some introspection to keep my mind sharp on tackling future challenges.
One particular niche that I feel has yet to be explored thoroughly is how landed real estate work within Singapore. It is shrouded with so much secrecy and so, provides me more juicy content to write!
Thanks for taking the time to read this article, and I apologize to anyone affected by my candidness. I have no intention to offend, and giving contrasting opinions will help create inclusiveness in our everyday real estate practices.
I’m not where I want to be yet with Estate Magnates, and thanks for taking this journey with me. Every step forward is the right step. I’ll be looking forward to reviewing my thoughts in twelve months.
Here is to many more years of more articles with horrible grammar, poor vocabulary and abysmal sentence structuring!
The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee, or other group or individual. The author does not accept any responsibility whatsoever for any harm or loss arising from accessing or relying on information contained in this blog post.