• Ian Fan

Why Real Estate?

People often ask me, “Why real estate?” Why not other similar sales job – unit trust, insurance, direct selling, multi level marketing, etc.

Like most other real estate agents, we chose this profession because it offers flexibility (in time), empowerment (to run one’s own business), and potential (to earn high income). One’s income should correlate with one’s effort.

Having been in the industry for a few years, I’ve come to learn the attractiveness of real estate. My why extends deeper and wider than before.

Need

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Recalling my lectures in marketing, one concept comes to mind – Maslow’s Hierarchy of Need. At the very beginning of the pyramid is a human’s physiological need, and shelter being one of the physiological needs. Even without Maslow’s Hierarchy of Need explained, the 3 basic needs of a human being are food, shelter, and clothing. Shelter and a roof over our head is of extreme importance. Without stressing further, a career in real estate helps one fulfil this need.

Service

The standard practice in the sales industry and the general perception of it, is that the sales agent has to be very sales-driven. The agent has to actively search for customers and constantly follow-up with customers. The real estate industry is no exception. No doubt, it has the basics of sales: the agent and the product which is the property. Inasmuch as real estate is in the sales industry, it works more in the opposite.

As its a need, customers often make the first move and go to a real estate agent to fulfil it. Sellers, buyers, tenants, and landlords will contact real estate agent for their services. Then, the real estate agent matches the right tenants and landlords, and the right buyers and sellers together with property being the medium. The property sells by itself to the right tenant and buyer.

We, as real estate agents, merely facilitate the transaction. We ensure both parties are getting the best out of the deal.

All-rounded

As a real estate agent, its more than being an open-door and close-door salesman. A career in real estate extends beneath, above, and beyond the property.

Prior to applying to become a real estate agent; one should have multiple years of experience in sales, cleaning, construction, interior design, legal, finance, etc. When managing the property, the agent has to clean and maintain the property under his or her care. Then when transacting the property, the agent has to liaise with lawyers and bankers. The agent has to possess a basic understanding of the procedures, and the terms and conditions stated in the Tenancy Agreement, Sales & Purchase Agreement, Loan Agreement, Offer Letter, etc.

We’ve to understand the lingo of a cleaner or contractor, and also understand the jargons of a lawyer or banker. Hence, the agent has to be equipped with an all-rounded set of skills and knowledge to deal with different personalities and requirements from varying industries.

Number’s game

Real estate is a number’s game. It’s not just about the probability of securing a sale, but the numbers in the property. Its dollars and cents.

We help tenants rent a room or unit from as low as a few (hundred) dollars to selling a unit in the millions and billions of dollars. As a real estate agent, imagine telling your friends and family that you sold a $500,000, $1,000,000, $10,000,000, $50,000,000, or $100,000,000 property. Imagine selling an island!

As the figure increases, so does one’s eyes grow bigger because they see the value and think the professional fees. “How much does an agent make selling a $1,000,000 property?”

Therefore, these are the reasons why the real estate industry and a career in real estate appeals to me.

Why Real Estate?

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