Updated on December 21, 2023 by admin
After passing my RES exams, what should I do next?
CONGRATS on passing your RES exams. The commitment and hard work you put into getting through this were not easy. Well done.
Selecting an estate agency is the next step. Every agency has its pros and cons, and not all are the same.
It is understandably tedious to research all the agencies one by one as a new agent, trying to figure out what about each is different. Despite the fact that you are eager to get started as a new agent, you won’t be able to determine which platforms are REALLY IMPORTANT as opposed to those that are merely “nice to have but unimportant” that each agency promotes.
I have been in the real estate industry for more than 13 years and have learned what matters most when selecting a real estate firm to join or with whom to align myself. As a young professional, I thought there was more value in going with a big local brand or an MNC brand in the real estate consulting business.
I agree with you. In the beginning. However, the value you add to the agency cannot be overshadowed by the agency’s brand. I will summarize my experience in 4 main points that I wish I had known at the beginning. We hope you find it helpful in making your decision.
1) Your team members’ quality
As a result, I learned within less than a year that nobody ever asks or mentions the property agency I was with; nor is this the reason I was able to obtain an exclusive listing.
Then, nine years later, I discovered that in order for me to succeed, I needed people of great quality around me. They could inspire me to greater heights in their own way.
This brand is more than just a great shelter for me. The brand is me. Associating with live-breathing brands is what I do. Most clients don’t mind which agency we’re from as long as we’re who we are.
The quality of people should not just be measured by the number of sales; but rather by the attitude, the personality, and the values they hold dear. Your friends and family are people you can rely on in good times and bad; that celebrate your achievements with you wholeheartedly.
Insecurities should not drag you down; people should lift you up.
My career experience has shown me time and again that a mentor who is an experienced salesperson or a top seller does not always translate into quality mentoring. Therefore, you should know who you are working with.
Do your own background checks and get to know your potential mentor and teammates. It may not be possible to paint an accurate picture based solely on social media.
- Determine whether your prospective mentor is willing to devote time and attention to you, as this will reveal whether the mentor is present physically and mentally. If, throughout your meeting, he/she keeps checking their phones and picking up phone calls, it can be telling that they are juggling sales and leadership.
- Determine whether your potential mentor spends enough time finding out about you and customizing a plan for you or if he/she immediately jumps into offering a one-size-fits-all solution to your business.
The mentor must be able to identify the unique strengths, weaknesses, and inhibitions of the individual and tailor their mentoring accordingly.
The mentor must be able to identify the unique strengths, weaknesses, and inhibitions of the individual and tailor their mentoring accordingly.
In my experience, this approach has helped me better understand my team, communicate with them in a way they can understand and absorb, as well as help my agents achieve optimum sales results.
Investing more time in research now will prevent you from paying multiple times later.
In the real world, it is really easy to be exploited, and I have experienced agents suffering from being taken advantage of due to their lack of knowledge about what is normal and what is not, burdened with performing routine tasks for their mentors or senior managers without knowing their rights or even paying for things that should not have to be paid for.
I knew of one worst case where a mentor took advantage of a poor agent for a year and then dropped him since he made no money. Some new agents are misled by the lure of easy money and big money, which can lead them to take ethically questionable paths and make shortcuts, resulting in massive commission refunds.
For this reason, it’s imperative to surround yourself with the right people in order to enjoy a long-term career and succeed.
2) A technological advancement
Apps and technology can add a lot of value to your real estate business these days, multiplying your ability to accomplish more work in a day. Prospecting, marketing, and follow-up work are repetitive tasks that agents face every day, and they take too much time and effort.
Our marketing and lead generation tasks are now handled automatically by modern technology. Your real estate business will be much more lucrative and enjoyable if you have more time for higher value tasks, such as face-to-face time with clients or time with your family.
Mobile apps are available at most agencies, so keep this in mind.
Although anyone these days can build an app, having just one is only half the story compared with having a time, effort, and money-saving app that has been tested, proven, and proven. In case of doubt, do not be afraid to ask for a detailed demonstration.
Use technology to automate routine tasks instead of manually repeating them. It’s not enough to work hard; you must also work smart.
3) Developing training programs
There have been an increase in the number of DIY customers and fixed rate brokers in recent years, so basic training is no longer sufficient. In order for property agents to remain relevant to consumers and valuable, they must learn and internalize advanced real estate training topics.
By building proposals from scratch with maximum tax savings and cost savings, agents can take on an investor’s mindset themselves.
Agents are future-proofed by doing this.
As agents adopt “push marketing” strategies to close listings faster, advanced social media marketing and targeting strategies are also on the rise. If you are joining a team or real estate agency, make sure they provide you with lessons.
4) Possibilities for projects
The number of new projects your agency launches in Singapore is critical, as this will give your clients plenty of options to choose from. Commissions on project sales are typically higher than those paid on the resale market, which are usually around 2%. They can even reach as high as 10% sometimes.
The really high commissions usually come with catches, but I will not go into them here. A developer’s appointed agency has an advantage when it comes to marketing and closing sales since they possess.
Taking these 4 points into account will ensure you receive the best possible start to your career and support when you are looking for a good real estate agency:
- The public
- Getting trained
- The latest technology
- Plans and projects
I wish you safe travels and fair winds. Want to shorten your learning curve with great mentorship in real estate? Join Lawrence Lee and his team leaders for a free 30-minute career consultation.
You can enroll in our next real estate recruitment seminar or send me a WhatsApp/Email if you are interested in starting your career with our team. What ideas or inspiration did you get from this article?
In the real estate industry, Lawrence Lee, Executive Group District Director, is one of the industry’s most renowned leaders and personalities. His neighbors won’t be upset by him playing a few instruments decently. He adores music.
His wife barely finds his silly puns entertaining when he isn’t pillowed fighting with his son. With his experience in selecting and managing great property investments, he has helped many clients grow their wealth over the course of his career.
Several million dollar producing real estate agents in Singapore have also been coached by Lawrence Lee.
