Leapfrogging Ahead Through The Property Measures

At any point in time – good or bad – there will be people who will become successful. At any time in the economic or property cycle, there will be opportunities to be rich and wealthy.

There will always be property transactions – and money to be made.

In fact, during major changes, there are greater opportunities to leverage upon to go to the top. You can leapfrog over your competitors as a result of the property measures.

To do so, you must change your attitude to determine your altitude. You must improve your mindset and enhance your skillset.

You must take massive action and turn possible pitfalls into platforms for success.

Please let me suggest some specific actions you can take to join the next generation of top producers.

1.      Focus On A Strategic Target Market (STM)

During major changes, there is a tendency to do many different things and believe that it will give you more chances to close sales. It will only distract your attention, dilute your effort, and decrease your competitive edge.

During My HSR Bootcamp, we learned, ‘What I focus, expands!’

Every market can be a good market as long as there are transactions. You can leverage on your strengths to win most of these transactions.

You can do better in an STM than if you try to target many markets. You need to focus! focus! focus! 

If you concentrate your firepower, you can increase your market share and it can help you close even more sales and earn more commissions.

You can focus on any one of the following STM:

Target HDB Market. It’s still growing

Target Private Residential Market. Many salespersons are running away from it. There are still enough transactions for you to be rich and wealthy.

 High end property market has a lot of potential for growth as the prices have been sluggish and the measures have lesser impact on high nett worth buyers.

Landed property market will hold steady as it caters mainly to owner-occupiers. 

Shoe-box property market remains attractive because of the lower price quantum. It will appeal to singles and double-income-no-kids (DINK) family units. Investors with spare cash may also include such units in their portfolio.

Uncompleted units, especially those that are due for completion in three to four years willl find favour with mid-term investors as they do not have to pay additional stamp duties.

Target Industrial And Commercial Markets. These markets are not mainly affected by the measures and are supported by positive economic growth. They will continue to grow!

Target Rental Market. This market is not mainly affected by the measures and is supported by growing demand especially from foreign parties. They are projected to grow.

Target Buyers. Buyers who are qualified and need to buy a property are motivated to buy it soon. Many of them have left the market during the recent uptrend and are returning to the market.

It is easier to match them with a motivated seller and close the sale. With more buyers, you will also attract more sellers.

Target Sellers. Sellers who need to sell will be more cooperative and motivated to sell at realistic prices. The more exclusives you have, the higher will be your chance of a sale.

When the market turns around, you will dominate the market.

Think: How can I focus on a Strategic Target Market and be clearly the market leader in it?

 

2.      Build Your Personal Brand

With the introduction of new laws and property measures, rogue salespersons will be removed. Many salespersons will not be able to survive and they will leave the industry.

At the same time, many of them will not be able to comply with the new laws in the days ahead. Obviously, many of them will slacken and become less effective.

Quite a few as usual will commit emotional suicide by talking negatively and absorbing growing negativity in their system.

During challenging times, it is easier to stand out from the crowd and stay ahead of the field.

Your share of the real estate cake should only grow much bigger.

This is the time to promote yourself and become the preferred salesperson in your Strategic Target Market. The best time to grab all the customers is NOW!

Think:  How can I position myself to be the most trusted and preferred salesperson in my Strategic Target Market?

3.      Maximise Your List Of Exclusive Listings And Sellers

If the market becomes a buyer market, many salespersons will be less motivated to get listings and will neglect their sellers.

This is the best of times to get as many exclusives as possible and to expand your database of sellers. With more listings, you will increase your chances of a sale.

When the market improves, you will be the indisputable champion because of your dominant share of listings.

Sellers are also more realistic and willing to come to the table. It is easier to close more sales.

Sellers will be more desperate to work with professionals than ever before. They are willing to pay even more for your service.

Think:  How can I have the most number of marketable listings and motivated sellers?

 

 

4.      Maximise Your  List Of Exclusive Buyers

This is a good time to target qualified buyers to close more sales and increase your income. Buyers who need to buy will be more motivated to buy a property soon.

Many of them who have left the market during the recent uptrend are returning to the market. In addition, a lot of local and overseas investors are more motivated to invest in the property market now.

Think: How can I serve the most number of exclusive buyers?

5.      Negotiate For A Higher Commission

During challenging and unpredictable times, it will be easier to negotiate for a higher commission.

There are many salespersons who have done it before and are still doing it.

Think: How can I enjoy the highest commission rate in the industry?

6.      Close With Urgency

The good news is, this is the best of times to close sales and to do so in a faster way.

During times of uncertainties, it is easier to convince both sellers and buyers to be realistic, compromise, and take actions immediately.

There are always enough reasons for buyers to believe prices may increase. On the other hand, there are also just as many reasons for sellers to think that prices will come down.

Your job as an salesperson is not to pretend you have got special insider information or you are an expert. You cannot predict the future and will never know the outcomes of any changes in the industry.

You are responsible for sharing with your clients material information, including information that can lead to worst case scenarios. Your clients will have to make their own decisions.

Your closing rate during major changes should always be higher. It can help you achieve record sales and income.

Think: How can I close sales in a faster, easier and better way?

 

7.      Recruit! Recruit! Recruit!

The introduction of the Estate Agents Act 2010 and property measures will make it hard for many agencies to survive.

Many of them will have to downsize or even close down. They will not be in a position to manage and support their salespersons effectively.

Team leaders will be struggling without good company support. They will find it hard to lead and motivate their salespersons.

Many salespersons will be lost and demoralised. They are looking for a far better environment.

My HSR has the best branding, culture, leadership, training, technology, marketing tools, support and services, solution, and commissions to help them succeed.

They are waiting for you to call them and share with them our unique selling propositions and welcome them into our warm, dynamic and caring family.

You should call them and not delay anymore. Now’s the time.

Think: How can I build a large, profitable and growing team starting from today?

8.      Craft Your Power Phrases To Close Every Sale

The following are some possible examples of scripts to close a sale. Please use them appropriately.

Sellers.

“This is the best time to upgrade or downgrade your property. Even if you sell low now, you can also buy low or possibly lower”

“It’s better to sell fast. You will never know if the prices will come down.”

Buyers.

“You can pick good buys. There are less competition.”

“If the price does not come down after four rounds of measures within a short period of time, it is unlikely to come down. In fact, the potential to go up is high.”

Investors.

“Singapore’s real estate is supported by sound fundamentals. The government is ensuring stability and sustainability of the market. If they can introduce property measures, they can also withdraw them to support the market.

“Let’s look at how to refinance your current property to finance your purchase of the next property”

“Why don’t you combine with other investors to invest in the property market?”

“This is the best time to deploy your recent profits to pick up good buys.”

Tenants.

“It’s better to make a fast decision. With the introduction of property measures, it is possible that more people are looking at renting properties.”

Landlords.

“It may be wiser to rent out your property as soon as possible. Potential tenants may consider buying their own properties.”

9.      Plan And ‘Cheong’ Now!

How can I be positive and proactive all the time?

How can I attend more trainings to help me become a real estate champion?

How can I grab ALL the desperate sellers?

 How can I grab ALL the motivated sellers?

 How can I sell the urgency to buy/sell NOW?

How can I earn the highest commission rates?

How can I enhance my personal branding so that clients will chase after me?

How can I leverage on My HSR Branding and resources?

How can I capitalize on infocommunication technology to boost my business?

How can I use My HSR’s marketing weapons to dominate the market?

How can I enjoy a continuous and growing flow of references, referrals and repeated businesses?

How can I provide the best service so that clients will use my service and refer businesses to me?

How can I live a balanced life – physically, mentally, socially, emotionally, and spiritually?

10.  Give Back To Society

In times like this, give more thoughts, time talents and treasures to the people around you.

Please help the poor, the needy and the disadvantaged to live a more meaningful, exciting and fulfilling life.

Remember, ‘The more I reach out to bless other lives, the richer and better my life will become.’

Think: How can I give more to society?

The key forces are converging into what I believe to be a perfect spring to be a real estate champion.

You are standing at the threshold of a new future where you can be either be a victor or a victim. You are at a crossroad where the right choice can shape or shred your destiny.

Please let me close with a poem from Robert Herrick,

Gather ye rose-buds while ye may,
Old time is still a flying,
And this same flower that smiles today
Tomorrow will be dying.

Likewise, the flowers of opportunities may be gone by tomorrow.

Carpe Diem! Seize The Day!