Everyone has an agent friend whom they've known from secondary school/army and is now seemingly leading a glamorous life.
As someone who's worked with both sides of the equation, I can tell you that things are not what they seem on the surface.So if you are considering real estate as a career , I've decided to pen a piece today on the harsh realities of being a property agent in Singapore.It's always easy to see the attention-grabbing headlines of agents making six to seven-figure incomes in a year . But the truth is that there are many others that are struggling that you just don't hear about.
I'll assume an average of 2.5 per cent commission for a new launch, and 1 per cent for resale transactions.While that sounds like a boat load of cash, let's divide that by the number of agents to see what we get. And remember, the figure is likely to be a lot lower as the numbers will be very skewed by the top earners.
During the days of the week, you can sometimes be inundated with paperwork, team meetings, marketing endeavours, prospecting, and negotiating on offers. After working hours it's for viewings and showing clients around. Which is why for those who want to become a property agent because get to be your own boss and work flexible hours, sure, you can do that.4. Income can be very inconsistent, cash flow is tough
There are also running costs like handphone bills, petrol, and transport-related costs to think about.But the real problem here is that you don't have a steady paycheck. Many people discount that the money comes in very erratically for agents. Can you imagine getting your salary only a whole year later? How do you possibly plan for your own life and expenses?I suppose some may describe this point as a two-way street, but some newer agents may be surprised at how people can just drop you like a hot potato.