Singapore offers a lot of job opportunities for everyone. This is because it has a stable financial system that attracts many businesses and investors from all over the world. These investors come from different industries and are looking to hire locals and foreign employees. This is why the population density in Singapore is one of the highest in the world. A small country like Singapore is jam-packed with a high number of individuals and this causes a high population density. This is also why the costs of living in Singapore is one of the highest in the world. This includes the Singapore property market.
Singapore has one of the most complex property markets in the world. This is rooted in the fact that Singapore is too crowded that there is a tight competition when it comes to property. That is why the majority of the individuals opt to hire a property agent Singapore professional. Whether you’re a buyer or a seller, it is advisable to hire a property agent Singapore professional.
For example, if you are eyeing to sell your condo in the M Condo, a property agent knows the right people to market these kinds of properties. However, there are things that the property industry doesn’t talk about being a property agent. In all professions, there are cons attached. This is true to being a property agent. So, in this article, let us talk about the 3 surprising things you may not know as a property agent Singapore consultant.
#1 You will have to spend your own money
One of the things that people don’t talk about being a property agent Singapore consultant is that they also have to spend their own money. Selling a property like The M Condo units involves a lot of client meetings. These client meetings are often held outside the office for the client’s convenience. These are usually done over a cup of coffee in some place that can also be far from the agent’s office. These kinds of extra costs do not get reimbursed.
However, these are the kinds of costs that are inevitable since they are necessary to make a sale. It is necessary to make your client comfortable whether or not you have assurance if they are going to buy or not. The property agent Singapore expert often pays for the transportation and meal costs during these meetings.
#2 Salary depends on sales
Since being a property agent Singapore professional is a sales job, the amount of salary is highly dependent on the number of sales an agent makes per month. Although a sales agent has a base salary, the majority or bigger portion of their salary depends on incentives. This is also known as commission.
For example, one agent has a base salary of S$30,000 per month. Once an agent was able to sell a unit in The M Condo for $850,000, they would usually get a commission. The commission in the property market usually ranges from 5% to 10% of the base price. That is why a big portion of an agent’s salary comes from the sales themselves.
#3 No income for some months
People often think that being a property agent is all luxury and prestige. However, what most people do not know is that sometimes agents go on months without salary. This is because they were not able to close deals therefore their base salary just went to the extra costs of meeting up with clients.
Take, for example, Jenny. She has spent a month meeting up with clients in different locations and discussing with them over a coffee or a meal. However, out of these clients, no sale pushed through. So, in the end, she lost more money and spent her salary without getting anything in return or a commission.
Things like this often happen to property agents. That is why it is important to be persistent to be able to close deals and sales. A property agent must be smart when marketing or pitching units like The M Condo to materialize the sale. However, there is great incentive once a unit from The M Condo or other developers pushes through. It can be very rewarding if an agent can pitch and convince clients.
There are a lot of perks to being a property agent. There are also a lot of property options like The M Condo that are easily marketable. However, there are still a lot of things that the industry does not talk about. Visit SRX Property to know more about Singapore’s property market.