Private property prices... Up or Down?

[Ahseng]

If can't hit $50k com in your first year, please switch job.

 

waseh, is this the industry standard for weeding out weak agents

[Tiger1]

I Am looking at a 2 bedders for own stay recently and...jaw dropped when seller asked for 1.05m for a 775 sqf just top appt. bank value is at 920k . I think he die die want to earn 200k profit. Told him, I am offering only 920k max and to call me if he is keen to let go.

[therock]

I Am looking at a 2 bedders for own stay recently and...jaw dropped when seller asked for 1.05m for a 775 sqf just top appt. bank value is at 920k . I think he die die want to earn 200k profit. Told him, I am offering only 920k max and to call me if he is keen to let go.

Bro, I don't know which location are you looking at, but if it's the CCR area, Adam Park, Sommerville and Pandan Valley are nice. Old but well maintained. 

[LPPL]

waseh, is this the industry standard for weeding out weak agents

Not industry standard, just that 50k is a basic kind of income you need to lead a life with some reasonable comfort (not the lavish kind). If not a full time agent of course can earn anything less than that, but if working full time, it is a different matter.

I Am looking at a 2 bedders for own stay recently and...jaw dropped when seller asked for 1.05m for a 775 sqf just top appt. bank value is at 920k . I think he die die want to earn 200k profit. Told him, I am offering only 920k max and to call me if he is keen to let go.

Mind sharing what the project is?

[Mercs]

One million dollars hdb huat ah!

 

http://www.theedgeproperty.com.sg/content/just-sold-bishan-dbss-flat-sold-104-million

JUST SOLD: Bishan DBSS flat sold for $1.04 million

October 27, 2016

 

"A 1,291 sq ft five-room DBSS flat in Bishan was sold for $1.04 million on October 21, making it the second priciest DBSS flat to date.

 

Both Natura Loft and City View @ Boon Keng was completed in 2011 and fulfilled their five-year minimum occupation period this year.

 

There were five transactions involving DBSS flats that fetched above $1 million. Of these, four transactions came from City View @ Boon Keng"

[Mercs]

Developers hungry for land, reserve site triggered!

 

http://www.propertyguru.com.sg/property-management-news/2016/10/139238/serangoon-north-reserve-site-released-for-application

Serangoon North reserve site released for application

October 27, 2016

 

"A 1.7ha residential site in the reserve list of the second half 2016 Government Land Sales (GLS) Programme has been released for application, said the Urban Redevelopment Authority (URA) on Thursday, 27 October.

 

Located at Serangoon North Avenue 1, the site could be developed into a two-storey project with a maximum gross floor area of 42,973 sq m. It could yield up to 505 private housing units.

 

The 99-year leasehold site is close to Chomp Chomp Food Centre, Serangoon Garden Market and several schools.

 

A reserve list site is only triggered for sale if a developer’s minimum bid price is acceptable to the government."

[Mercs]

Hiap Hoe offload to Hiap Hoe, no more QC? huat ah!

 

http://www.straitstimes.com/business/property/hiap-hoe-to-offload-unsold-units-of-waterscape-cavenagh-to-parent-to-relieve-qc

Hiap Hoe to offload unsold units of WaterScape @ Cavenagh to parent to relieve QC penalty headache

Oct 27, 2016

 

"Property and hotel group Hiap Hoe has agreed to offload a company that owns the unsold units of WaterScape @ Cavenagh to its controlling shareholder Hiap Hoe Holdings to avoid having to cough up increasingly hefty penalty payments to the authorities.

 

The sale will therefore enable Hiap Hoe to realise a gain of $24 million over the carrying value of the properties as at Sept 30 while avoiding future additional extension charges of about $1.19 million, $4.75 million and $7.13 million for extension of time till Sept 23 2017, Sept 23, 2018 and Sept 23, 2019 respectively."

[Icedbs]

If can't hit $50k com in your first year, please switch job.

 

I can tell you that most new agents do not hit 50k in the first year.

 

It is like starting a new business venture, you will be happy if you can break even in your first year.  Most will only break even in the 2nd or 3rd year and that's if they are lucky.

 

The first year is really very much to learn the trade. Passing that very difficult RES exam is just like getting your driving license. It will still take the new driver 1 year or even 2 years before driving becomes 2nd nature.

[Wyfitms]

I can tell you that most new agents do not hit 50k in the first year.

 

It is like starting a new business venture, you will be happy if you can break even in your first year. Most will only break even in the 2nd or 3rd year and that's if they are lucky.

 

The first year is really very much to learn the trade. Passing that very difficult RES exam is just like getting your driving license. It will still take the new driver 1 year or even 2 years before driving becomes 2nd nature.

I would say most do not make much in the first 6 months

 

If they are good they should start seeing more sales in the second half of the year to make up for the slow start

 

End up whole year $50k is doable

[Enye]

cannot be lah

 

most agents have more dignity than ministers

 

[Bugyeo]

before developers are squeezed

home buyers and owners are squeezed until balls shrinked 1/2 size liao

after developer are squeezed

home investors and owners are also no balls liao this thread will be as dead as stock market thread.

[Throttle2]

Hiap Hoe offload to Hiap Hoe, no more QC? huat ah!

 

http://www.straitstimes.com/business/property/hiap-hoe-to-offload-unsold-units-of-waterscape-cavenagh-to-parent-to-relieve-qc

Hiap Hoe to offload unsold units of WaterScape @ Cavenagh to parent to relieve QC penalty headache

Oct 27, 2016

 

"Property and hotel group Hiap Hoe has agreed to offload a company that owns the unsold units of WaterScape @ Cavenagh to its controlling shareholder Hiap Hoe Holdings to avoid having to cough up increasingly hefty penalty payments to the authorities.

 

The sale will therefore enable Hiap Hoe to realise a gain of $24 million over the carrying value of the properties as at Sept 30 while avoiding future additional extension charges of about $1.19 million, $4.75 million and $7.13 million for extension of time till Sept 23 2017, Sept 23, 2018 and Sept 23, 2019 respectively."

 

please lah. They still have to pay stampduty and now they are subject to other selling restrictions going forward. Keh kiang

 

There is no way out for unsold units.

Lower prices push the inventory out or...

Get ready to get fu(ked....

 

Muayhhahhahabahhahaba

[LPPL]

I can tell you that most new agents do not hit 50k in the first year.

 

It is like starting a new business venture, you will be happy if you can break even in your first year.  Most will only break even in the 2nd or 3rd year and that's if they are lucky.

 

The first year is really very much to learn the trade. Passing that very difficult RES exam is just like getting your driving license. It will still take the new driver 1 year or even 2 years before driving becomes 2nd nature.

 

I believe most sales jobs really depends on whether the person is cut out for it. I know of top producers year after year who hold only an 'O' level qualification and University graduate agents in the industry who can hardly make it. In the property industry, it is really not about the qualifications you have but how good you are at talking. A good salesman don't need a year to prove that he can sell and I believe opportunities are everywhere for agents, just a matter of whether they want to take it. 

[Icedbs]

I believe most sales jobs really depends on whether the person is cut out for it. I know of top producers year after year who hold only an 'O' level qualification and University graduate agents in the industry who can hardly make it. In the property industry, it is really not about the qualifications you have but how good you are at talking. A good salesman don't need a year to prove that he can sell and I believe opportunities are everywhere for agents, just a matter of whether they want to take it. 

 

It is not about able to talk anymore. Gone are those days. Thesedays, buyers and sellers are savvy, they come to a rookie only if

 

1) Relationship. They know the rookie, probably friends or relatives

2) Knowledge : Somehow this rookie is able to speak sense and give them advices that they value

 

Most start with (1), But many starts with none of the above. They just have to make it up with their mental stamina, physical energy, always keep learning, always keep picking themselves up and always remain ethical and professional no matter what.

 

Then the mechanism of agencies put a really difficult commission hurdle for rookies. I don't wish to go into this one in public, but suffice to say that unless you have been an agent,  you will not be able to understand the starting challenges for rookies. Like everything in life, grass is always greener on the other side.

 

[Throttle2]

It is not about able to talk anymore. Gone are those days. Thesedays, buyers and sellers are savvy, they come to a rookie only if

 

1) Relationship. They know the rookie, probably friends or relatives

2) Knowledge : Somehow this rookie is able to speak sense and give them advices that they value

 

Most start with (1), But many starts with none of the above. They just have to make it up with their mental stamina, physical energy, always keep learning, always keep picking themselves up and always remain ethical and professional no matter what.

 

Then the mechanism of agencies put a really difficult commission hurdle for rookies. I don't wish to go into this one in public, but suffice to say that unless you have been an agent, you will not be able to understand the starting challenges for rookies. Like everything in life, grass is always greener on the other side.

 

No lah.

 

Inhouse champion agent Wyfitms say huat ah!

With spreads so fat, how not to huat?

Chow chow $250kpa take home lah for the normal agent.

Edited October 28, 2016 by Throttle2

[Enye]

No lah.

 

Inhouse champion agent Wyfitms say huat ah!

With spreads so fat, how not to huat?

Chow chow $250kpa take home lah for the normal agent.

$50k to $100k commission per sale

 

$250kpa only need to sell 3 to 5 units a year

 

 

[LPPL]

It is not about able to talk anymore. Gone are those days. Thesedays, buyers and sellers are savvy, they come to a rookie only if

 

1) Relationship. They know the rookie, probably friends or relatives

2) Knowledge : Somehow this rookie is able to speak sense and give them advices that they value

 

Most start with (1), But many starts with none of the above. They just have to make it up with their mental stamina, physical energy, always keep learning, always keep picking themselves up and always remain ethical and professional no matter what.

 

Then the mechanism of agencies put a really difficult commission hurdle for rookies. I don't wish to go into this one in public, but suffice to say that unless you have been an agent, you will not be able to understand the starting challenges for rookies. Like everything in life, grass is always greener on the other side.

 

Rookies struggle with building their network and that is the only advantage a lao jiao would have over the rookie. I think aptitude for the job is more important than the rest for a start. I see different agents' characters in the pty sector as a pty seller and buyer, some just passively waiting for durians to drop while others are proactively sourcing for buyers and sellers day in day out. The mindsetof a successful agent is usually very positive.

[Voodooman]

Thought market has bottomed in Q3?