Being a property agent is an enticing career that many might have considered, for it seems to come with a lot of flexibility and a lucrative income. According to statistics from the CEA (Council for Estate Agencies), there are 34,427 registered property agents as of 1st January 2023.
Property agents work closely with home buyers and sellers, providing their clients with services such as sales, marketing, and advisory and also the agency they are with to market the new launches while they take a professional fee in return. But apart from the dollars and cents, is being a property agent truly the dream job that you are looking for?
The ability to have complete control of one’s working hours is one of the key reasons why many people decide to be agents. If you work best in the afternoon, you can choose to get out of bed at a later time as compared to those holding a regular nine-to-five job. You can even choose to work only three days a week if you want to.
While you get to pick your own hours and control your day-to-day schedule, most agents tend to work through public holidays, weekends, and even after typical working hours, as these are the time slots most clients prefer for property viewings.
Being a property agent is akin to being your own boss. You do not draw a fixed monthly salary and instead a professional fee is levied from the properties you have transacted. While there is the chance to earn more during a booming period, you will also have to deal with the risk of making less than usual during slower months.
That being said, there is no limit to what you can make. A quick online search will reveal many agents who have made their fortune selling real estate, with some acquiring multiple properties in the process. If you are ready to ditch your structured monthly cheque and accept a variable yet ceiling-free income stream, perhaps the role of a property agent might be ideal for you.
The following information serves as a reference regarding the criteria that must be fulfilled and the costs that may be incurred before you can work as a CEA-registered property agent in Singapore.
Since 2010, CEA has mandated that anyone who wants to become a property agent in Singapore must complete the RES Course conducted by CEA Approved Course Providers.
The course is intended to help new agents understand the rules and regulations governing property agency work and practices and Singapore's laws and guidelines in the buying, selling, and renting of all types of properties.
That’s not all.
Upon completing the RES Course, you’ll have to pass two exam papers within two years from the date of issuance of the RES course completion certificate before you can register as a licensed agent.
There is the option to retake one of both papers if you did not manage to pass but do keep in mind that you must pass both papers within the two-year timeframe. Failing to do so means you’ll have to retake the course and exams all over again.
Those who want to greatly increase their chances of clearing the papers usually attend the PNG RES Exam Hacks where qualified industry titans who are familiar with the structure and format of the exam will provide extremely valuable tips and knowledge.
Once you pass your RES exams, you’ll be ready to register as a licensed property agent!
The property agency that you decide to join will usually assist in the application via CEA’s e-services and it will take CEA approximately four to six weeks to approve an application. Upon approval, CEA will send a notification to you and your estate agency; your exciting real estate career as an agent can finally begin!
Joining the right estate agency that resonates with your goals is the first step to acing your agent career success. The agency’s basic task is to arrange for in-house training and prepare the materials such as name cards, identity tags, and start-up packages.
You will also want to partner up with an agency that provides sound mentoring and advisory on matters relating to marketing, financial analysis, risk management, and investment strategies, subjects that will help you go the extra mile in your property career.
Don’t take your agency selection process lightly, choosing the RIGHT agency is critical as it plays a huge part in the success of your career. A top-notch agency is entrusted by developers. providing you with a wide array of projects to market, locally & internationally. On top of that, one-of-a-kind training and leading-edge proptech to give you a huge boost against all your competition.
Now that you have all the information you’ll need to become a property agent, are you ready to venture into an exciting real estate career that offers a flexible work life and expansive income possibilities that a 9-to-5 may not be able to meet?
Of course, this is not a get-rich-quick path, you’ll have to be self-motivated and self-disciplined before you’ll find the success that you seek. If you are ready to take up the challenge, why not sign up for the RES course to get started?
I am excited about the opportunities that lie ahead for you. May your journey become a fruitful and meaningful one.
Establishing an agent career in the real estate industry has always been a tantalising draw for many since it deviates from the boring 9-to-5. It also offers a ton of flexibility and the exciting potential of earning a five to six-figure commission in a single transaction.
But let’s be honest here, not all agents achieve what they set out to accomplish and there are countless of them who didn’t even get past the first two years because they failed at some point in their journey.
If you’ve recently joined the real estate world as an agent or have been plodding along the path without seeing tangible success, here are some essential tips that may show you the way to becoming a successful real estate agent.
If there is one thing that real estate agents love about their job, it’s flexibility. They get to dictate when they want to work and when to clock out. A word of caution though: doing everything on the fly without planning or structure is a disaster waiting to happen.
Without proper time management, self-discipline, and self-reflection, you can easily slip into a negative downward spiral and lose control of your career objective and drive.
Start by exercising more discipline in creating a daily roster that includes a to-do list comprising activities such as periodic market studies, cold calls, property viewings, and family time.
You want a clear view of your schedule so you can plan your way to achieving your career goals with little steps and a targeted action plan.
For any home buyer or seller to entrust their property decisions (that can amount to millions of dollars) to you, it takes a lot more than just a few viewings.
Especially in this era where most information is just a click away, clients are knowledgeable and they are likely to frown upon sweeping statements that are not backed by facts or look too good to be true.
The best way to gain trust and establish faith is by equipping yourself with extensive market knowledge, expertise, and experience and being sincere.
If you are new, consider starting with home valuations, local regulations, and current market conditions.
For seasoned brokers, researching property investment strategies and how the macro and micro economy may impact property trends could open up conversations with savvy property investors who are in the market for the long haul. Those who join an established agency would not have to worry too much as they usually come equipped with a strong research team with regular market reports - keep agents abreast of the latest figures.
“If you fail to plan, you are planning to fail!” These are wise words from Benjamin Franklin that are especially relevant to real estate agents. Without predefined goals and plans, you will start slow and eventually kiss your million-dollar property dream goodbye.
If you don’t know where to start, try listing your goals based on the five SMART criteria:
Specific | Measurable | Attainable | Relevant | Time-Bound
The more specific you are with your goal, the higher the chance you’ll accomplish it.
It is like losing weight - if you know how many kilos you want to shed and narrow down to a possible timeline and method, you are more likely to achieve the goal than trying a bunch of random recipes as and when you feel like it.
Whether you are choosing to distribute pamphlets at HDB estates or deploy digital marketing to generate leads, the crux of the matter lies in knowing who is your target audience and which marketing channel can reach them most effectively.
At times, agents stubbornly hold on to traditional channels they are accustomed to and fail to adopt marketing efforts that are more relevant to the current digital world.
While there is no need to relinquish traditional marketing methods that are working for you, why not explore alternative methods such as content marketing, email marketing, social media marketing, and search engine optimisation (SEO) to create a following that will further propel your brand to a wider network?
Being a client-centric agent will help you go the distance in your property career, especially in this day and age when almost everyone looks for some form of review or validation before hiring a person or buying a product.
If you focus on providing genuine agent service rather than making a fast deal, surely the positive reputation and word-of-mouth publicity will open up more opportunities for you in the future.
More importantly, communicate clearly so that your client’s expectation is in sync with what you can deliver. Any confusion in a million-dollar property deal is not only frustrating but is likely to cost you a fortune too.
Recognise that you are not just another salesperson but a personal brand that makes you recognisable to your clients. A well-developed personal brand can lead you to a multitude of opportunities (that go beyond buying and selling properties) including interviews, speaking engagements, networking opportunities, partnerships, and more.
Here are some basic tips for building your agent's personal brand:
• Identify what you want to be recognised for and centre your brand and content around it.
• Clean up your social media accounts to align your online reputation with your brand.
• Publish compelling content such as blogs, social media posts, or books/eBooks to draw your audience and keep them coming back for more.
• Know who your target audience is and develop a brand image that resonates with them.
If you are starting out new, working with a mentor will provide a great entry into the industry and broaden your knowledge outside of your Real Estate Salesperson (RES) Course.
Do not mistake mentoring for day-to-day leadership, it is a lot more intimate and it’ll help to shorten your learning curve through job shadowing. That means learning from an experienced person in the field who can show you the winning formulas and the pitfalls within a short period of time!
If you manage to find a mentor who is ready to guide you, be ready to learn rapidly and proactively. Don't be shy to ask questions and always keep an open mind to what you’ll discover.
Rome wasn't built in a day and you shouldn't expect overnight success for your real estate career. But take heart that with the right goals, strategising, and planning, you'll get up to speed in no time.
Who knows? Buying and selling properties could just be a start of an exciting agent career that will branch off into more reward ventures that are waiting for you around the corner.
If you have not gotten the result you are after, stay positive and resilient. Stick to the right formula and it will pay off in the end.
I look forward to your success. May you find great meaning in your career and change the lives of families that come to you by helping them find their forever homes.
Passed your Real Estate Salesperson (RES) exam and wondering what's your next step.
At this point, it is about selecting and joining a real estate agency that can help kick-start your career. Not just any agency, but an agency that resonates with your goals and renders you the support to go the distance.
Contrary to what some people might think, real estate agencies are not just entities to submit your license applications to and print your name cards from. Joining the right company can mean a world of difference to your career.
To help you make the right decision, here are four factors to consider:
Branding differentiates one agency from another. A good brand name gives clients peace of mind and comes with it, trusted service quality and implied accountability. It also shows that the agent comes from a place that has a reliable business structure.
Much like you are more willing to trust an Apple iPhone than a brandless smartphone with ambiguous origins, joining a reputable agency with an established brand name can lend you more recognition and negotiation power when you’re pitching a deal.
If you’ve been researching the market, you might have come across different agencies that offer real estate support but with distinctively different brand identities. Before signing up with any agency as an agent, take time to understand the brand philosophies, market perception, and clients’ reviews. The information will give you some indications of their brand direction and how it resonates with your career goals.
Joining an agency with a strong foundation, solid track record, and large network offers long-term stability and opportunities for advancement. Such agencies usually have strong leadership led by a sturdy management team that is dedicated to developing the business. This naturally translates to more support programmes, product launches, and even sales & marketing channels for agents to grow their businesses.
How do you determine if an agency has a strong foundation?
Quick checks on how long the agency has been established, the size of the sales team, and its regional and worldwide network may be indicative of how well the agency is holding up in the market.
Similarly, finding out more about the agency director and top executives at the helm will also provide hints about the leadership style and how well it blends with your professional goals.
Top 10 Largest Property Agencies - As of 1 Jan 2023
PropNex Realty Pte Ltd - 11,667 Agents
ERA Realty Network Pte Ltd - 8,344 Agents
Huttons Asia Pte Ltd - 4,872 Agents
OrangeTee & Tie Pte Ltd - 3,163 Agents
SRI Pte Ltd - 1,234 Agents
KF Property Network Pte Ltd - 297 Agents
C&H Properties Pte Ltd - 203 Agents
Century 21 Pte Ltd - 141 Agents
Mindlink Groups Pte Ltd - 97 Agents
CBRE Pte Ltd - 94 Agents
Source:The Council of Estate Agencies (CEA)
As a new agent, you’ll need all the training you can get. A good agency will offer dedicated guidance to orientate you into the industry and ensure that you are well aware of the tips and tricks that’ll get you started in your real estate career.
Besides training for new entrants, the agency that you shortlist should also provide ongoing advanced training to keep their agents abreast of industry practices and develop relevant skill sets for further professional growth.
For example, training such as digital marketing, sales closing techniques, financial analysis, and financial strategies are some programmes that agencies will regularly roll out to their agents to help them navigate the market more effectively.
While working as an agent is pretty much like running a business on your own, it’ll still be encouraging to know that your agency cares for you as a team member and is willing to provide benefits and welfare support that will help you thrive.
No man is an island, however independent you are, an agency that has your back will most certainly drive you to venture further and with more confidence. Researching the agencies’ websites will often reveal some aspects of their benefits and welfare but nothing beats getting the information from the horse's mouth - speaking to agents who are already in these agencies can be so much more revealing!
PropNex stands out from competitors with its most advanced PropTech. Our continuous pursuit of enhancing PropTech has resulted in state-of-the-art digital tools that are revolutionising the industry.
Experience the latest coaching and training that the industry has to offer. Our Executive Director, Kelvin Fong, along with accomplished team leaders and achievers, are dedicated to keeping our teammates informed and eager to divulge the strategies behind their remarkable achievements.
Engage in nationwide initiatives that strengthen customer connections. PropNex takes the lead in implementing new initiatives that ensure our teammates are always connecting with potential customers. We provide interactive platforms for nurturing existing client relationships and establishing new ones.
Access fair and transparent opportunities to market new projects. As an official marketing agency for major launches, PropNex offers abundant opportunities to capture a significant market share. We ensure equal and fair chances for everyone in the project marketing segment.
Join us with no joining fee or lock-in period. Being part of the best real estate team comes with no hidden fees or gimmicks. It's a real opportunity that's too good to pass up.
We are committed to your success. Start a remarkable journey with the best team in the industry, who will support you every step of the way.
May 5, 2021
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