Property agents feeling the pinch as market cools

[joeyboey]

Eh two days ago an agent called me up she said faster faster she can get me good deal good ballot no. for this new launch at jurong. Said sure sell like hot cake based on respone so far. Launch is today, name Lakeville at only 1,300 psf 99 years.
Said don't miss the boat.

Boat, thy name is titanic. Hope lemmings have life raft

Well said, whoever ventures into property at this moment could well regret for some time to come.

 

[Jah_rastafar_I]

I do agree that property is the easiest way to become rich. However, I question it's contribution to value added in real economic activities. It is no different to the tulip bulbs if we consider the many ghost town in China and the many empty houses in the billionaire row in London.

Speaking of actual value to the layman i doubt he cares about that. I am sure you probably might consider say a fireman or maybe a factory worker that contributes actual value since i suppose they provide services that are easily observed and tangible especially the factory worker but they make peanuts so which sinkie would aspire to be a factory worker.

 

[xebay11]

You sure are stupid and ignorant. seller stamp duties was minimal and does not stop flipping until Recently when garmen introduced measures like ABSD etc last year and only then did it stop this flipping crap which is illegal in many countries. what about the flipping done for so many years. I am worth more than you and drive a mercs.
Do not jump to stupid conclusions. just because I take a taxis does not mean I do not own a car. crap logic. I frequently take taxis when going to airport stupid. BTW I do not have anything to prove to low class people like you. even li ka shing take the subway sometimes in HK.
that's why I enjoy "suaning" taxi drivers and property agents who get retrenched. people who are protected by garmen(only useless retrenched singaporeans are allowed to be taxi drivers, a form of safety net for retrenched useless scums) .only property agents like you are sour grapes and defend such illegal practice as flipping which is insider trading basically when done by prop agents. wonderful for garmen to stop such greedy illegal people like you who are nothing but parasites of society hoping for a quick lazy buck. stop bragging about your net worth which is only paper worth, please continue sitting on your properties which would be worth very little in due time. like some HDB guy who once boasted about his million dollar 5 rm flat but no buyer when he got retrenched. see todays shitty times.
http://news.asiaone.com/news/singapore/home-prices-continue-slide-loan-curbs-bite
the bad news have just started. the carnage is just starting to unfold. oh I forgot! you cannot sell/flip your properties now as no buyers. wonderful news isn't it. :oIo::oIo:Hahahahah

Nice try, dun throw your BS here, SSD put a brakes on flipping with a 4 year holding period, that duty had direct impact on flipping, 16% within one year, would cream off most of the profits made by flipping. ABSD was implemented to discourage ppl from owning multiple properties, but in order to bypass this many married couples usually held properties in each individual's name, or held properties in sibling's names and kept flipping multiple properties, so it is SSD that practically put a brakes on flipping and not ABSD, you stupid or what? Now TDSR has put the brakes on affordability, it has the effect of tying the hands of speculators, but big boys with deep pockets are not affected.

Also you did not know what CEA was and spelt it as CREA, small typo but just shows how much you are in touch with the property market.

Nobody is arguing who has bigger net worth, I was just stating that I built $4m just on property portfolio alone, alot through the help of agents, did I say that was my total net worth?

Take taxi to the airport? Nice try, I usually get limo service to the airport because I fly first class all the time, if you dun own a car just admit it, nobody will fault you for being a nobody.

Wow you really are an amatuer, do seasoned property players only need to flip properties in Singapore? I am now flipping FH commercial properties in KL like Ramli Burgers.

You are Kam Gong like a 5 year old kid with zero property knowledge who just dug his own grave.

 

[xebay11]

yeah fuck you cheebyekiah....you are so obviously one of those fuckedup arrogant pieces of shit property agents who need to be shown to the jaildoor before you beg for mercy....


let me tell you this the fucking CRE should just do one fucking simple thing.

Have a free access public database for all properties sought to be sold and there you will see how these fucking addnovalue pwabye property agents will scam their ways into making a fucking living .......obviously these fucks add no value at all!!!!

View attachment 14903

What an idiot! There will never ever be a public database on foreclosed or distressed properties, you can however look at all the databases of all the transacted prices in the whole market but that information is as good as knowing the name of ship that has sailed away.

For the best deals in properties you just simply have to hook up with lawyers, bankers and real estate agents, there is no two ways about it, so deal with it, dun expect the Govt to help you in everything.

 

[mojoe]

Property gents had it easy for too long. It is the result of the flawed immigration policy.

 

[Seee3]

Speaking of actual value to the layman i doubt he cares about that. I am sure you probably might consider say a fireman or maybe a factory worker that contributes actual value since i suppose they provide services that are easily observed and tangible especially the factory worker but they make peanuts so which sinkie would aspire to be a factory worker.

I agree with you and I think it is fair for layman not to care about it. However, it appears that policy makers are also ignoring it, using it as a cash cow to generate capital. It becomes frightening because it is not sustainable. What is worse is, like what you have pointed out, "which sinking would aspire to be a factory worker" if flipping property or becoming a property agent is so much more lucrative. So nobody like to do "normal job" which led to opening up for FT. Not just to fill up jobs local detest but I suspect that it is also to further fuel the property market. The end result is local PMET also lose their jobs to FT.

Probably some wise guys think that it is a good stop gap measure to tie over the 2008 financial crisis. However, such risky method will have long term set back on our people and economy. If they think they can replace locals with new citizens, I think they are dead wrong. These new citizens are highly mobile and will disappear before disaster strikes.

Therefore, I am just expressing my frustration on the silliness of those policy makers.

 

[xebay11]

I agree with you and I think it is fair for layman not to care about it. However, it appears that policy makers are also ignoring it, using it as a cash cow to generate capital. It becomes frightening because it is not sustainable. What is worse is, like what you have pointed out, "which sinking would aspire to be a factory worker" if flipping property or becoming a property agent is so much more lucrative. So nobody like to do "normal job" which led to opening up for FT. Not just to fill up jobs local detest but I suspect that it is also to further fuel the property market. The end result is local PMET also lose their jobs to FT.

Probably some wise guys think that it is a good stop gap measure to tie over the 2008 financial crisis. However, such risky method will have long term set back on our people and economy. If they think they can replace locals with new citizens, I think they are dead wrong. These new citizens are highly mobile and will disappear before disaster strikes.

Therefore, I am just expressing my frustration on the silliness of those policy makers.

You are barking up the wrong tree, people who flip properties are not the average Joe who needs a salary or a "normal job", they are usually in a league where they already made their pile some where and just looking to enhance it. Take me as an example, although I do hold a "normal job", I started off as an only heir in my family business, so I don't think I would have taken the factory worker's job you are so referring too

As for being a property agent it is not as easy as it looks, all you see is the viewing and signing of papers and think that is all they do and get the fat commissions, do you know how much money is needed to even getting a listing? telemarketer costs, flyer costs, promotional materials, raw foot and leg work and late nights just to get a property to sell and once you get the listing for a property to sell, there are advertsing costs, petrol and travelling costs and even entertainment costs.....if being an agent was so easy and lucrative, they will never be taxi drivers, the reason why they end up as taxi drivers is because they cannot sustain the burn rate, financially and emotionally as an agent.

I respect them and sometimes feel sinful just paying them a commission and harvesting their knowledge, knowing all the blood sweat and tears that went in to gain the market knowledge. In the past they could use whatever knowledge they gained on the ground to enrich themselves but of course bloody lazy and ignorant owners "layman", such as yourselves who did not bother to check selling prices and undersold their properties through agents started screaming murder and the rest is history, today agents cannot flip properties themselves to reward themselves for the effort they put in.

Also just think about it, if you guys keep lamenting about property agents and one day they really get replaced and no longer can make a living, pray hard you hold on to your well-paying PMET jobs, because once you lose it, there is no more option to be a property agent which actually pays and feeds your family well, instead you will go straight to a hellish low paying 16 hour shifts as a taxi driver just to pay blood sucking taxi companies before you can even put food scraps on the table....sleep well guys....one day you may get what you wish for.

 

[Seee3]

You are barking up the wrong tree, people who flip properties are not the average Joe who needs a salary or a "normal job", they are usually in a league where they already made their pile some where and just looking to enhance it. Take me as an example, although I do hold a "normal job", I started off as an only heir in my family business, so I don't think I would have taken the factory worker's job you are so referring too

It is true that those who can flip property has already got the seed money. However, an average Joe who had made some money from his property sales (his original house purchased at low price), could used the cash gained as down payment for 2 more and so on. The smart ones made a pile and join the multiple-millionaire club. The silly ones got stuck. It is such cases that I am against property speculation. There are also greedy ones who pool their money so that they can make down payments for more properties, flip more and make more. Many are PMET. Unfortunately, this property game favours the rich. Those with holding power will never die. Those with only money for down payment, and joining the game at the wrong time, will get burnt. It is this that I am against property speculation.

As for being a property agent it is not as easy as it looks, all you see is the viewing and signing of papers and think that is all they do and get the fat commissions, do you know how much money is needed to even getting a listing? telemarketer costs, flyer costs, promotional materials, raw foot and leg work and late nights just to get a property to sell and once you get the listing for a property to sell, there are advertsing costs, petrol and travelling costs and even entertainment costs.....if being an agent was so easy and lucrative, they will never be taxi drivers, the reason why they end up as taxi drivers is because they cannot sustain the burn rate, financially and emotionally as an agent.

An agent's life is only tough in the initial phase. More importantly, hard work alone will not make a successful agent. Those cold calls, advertisement, distribution of pamphlets, leg works, petrol ... will get him nowhere if he / she doesn't have the charisma and "sincerity". More importantly, he / she needs the connection. In their course of work, they may meet rich clients, "knowledgeable" bankers and lawyers. If they manage to win them over and tap into their networks, life will be a breeze.

Agents that need to hang around market place distributing phamplets, making cold calls ... are usually beginners. If a seasoned agent still need to do such things, he should realise that property agent is not his line. Usually, after a few years, by word of mouth alone, a good agent should have frequent referrals if the market is fine. Coupled with good connections, life isn't that tough once you have past the initial phase. Most also form groups, with new members doing all the menial work for them.

 

[sense]

do you know how much money is needed to even getting a listing? telemarketer costs, flyer costs, promotional materials, raw foot and leg work and late nights just to get a property to sell and once you get the listing for a property to sell, there are advertsing costs, petrol and travelling costs and even entertainment costs...

Understandably, you have chose to not mention PropertyGuru.

 

[xebay11]

Understandably, you have chose to not mention PropertyGuru.

You think property guru is enough? Why don't you start?

 

[sense]

You think property guru is enough? Why don't you start?

____ ____

 

[xebay11]

It is true that those who can flip property has already got the seed money. However, an average Joe who had made some money from his property sales (his original house purchased at low price), could used the cash gained as down payment for 2 more and so on. The smart ones made a pile and join the multiple-millionaire club. The silly ones got stuck. It is such cases that I am against property speculation. There are also greedy ones who pool their money so that they can make down payments for more properties, flip more and make more. Many are PMET. Unfortunately, this property game favours the rich. Those with holding power will never die. Those with only money for down payment, and joining the game at the wrong time, will get burnt. It is this that I am against property speculation.



An agent's life is only tough in the initial phase. More importantly, hard work alone will not make a successful agent. Those cold calls, advertisement, distribution of pamphlets, leg works, petrol ... will get him nowhere if he / she doesn't have the charisma and "sincerity". More importantly, he / she needs the connection. In their course of work, they may meet rich clients, "knowledgeable" bankers and lawyers. If they manage to win them over and tap into their networks, life will be a breeze.

Agents that need to hang around market place distributing phamplets, making cold calls ... are usually beginners. If a seasoned agent still need to do such things, he should realise that property agent is not his line. Usually, after a few years, by word of mouth alone, a good agent should have frequent referrals if the market is fine. Coupled with good connections, life isn't that tough once you have past the initial phase. Most also form groups, with new members doing all the menial work for them.

Reasonable post, there are no barriers to be a property agent, anyone can be one and I too have a RES license, but never practice, too tough, taking a salary now is much more easier and safe and speaking of contributing to the economy, I think salaried worker is right down the list below real estate agents..... it is definitely the coward's way out..... But to the "layman" out there just don't whine and cry like a baby when you see others earn more than you.....if you think being a property agent is so easy just sign up for the RES course.

 

[ginfreely]

I think property agents do have value by bringing clients but buyer or seller and landlord or tenant must ownself study and know the market price or rent. It makes not much difference to the agent's commission whether price is $30k more or less but makes a difference to the buyer or seller. Same for rental, agents being paid half month rental commission would not care whether the monthlyrent is $300 more or less, but it makes a big difference to the landlord or tenant. So buyer, seller, landlord and tenant all have to be vigilant and not rely totally on the agent to get the best deal.

 

[sense]

salaried worker is right down the list below real estate agents..... it is definitely the coward's way out.....

?!


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[Runifyouhaveto]

Substantial increase of property auctions from bank sales(forced sales) after cny period, according leaks from locals auctioneers. This is first bank-sales increment in local auctions in recent years, marking the end of property peak.

 

[Runifyouhaveto]

Property agents are no stupid. They are focusing on selling you Malaysia, Thailand, UK, Aust, NZ, properties now.

TDSR not applicable for singaporean buying malaysian properties. All you have to do is to loan with malaysia banks, eg. OCBC Malaysia will ignore your loans with OCBC Singapore. A working Sg couple can loan max. 90% in malaysian residential properties for about 5-6%pa loan, if both sign on the line.

For Japanese properties, a single person can loan 90-95% too. Many seminars teach you how to hold 5, 7, 10 or 30 properties in the world with loans. But really, in the end, you are just making yourself so busy for the bankers.

 

[xebay11]

Substantial increase of property auctions from bank sales(forced sales) after cny period, according leaks from locals auctioneers. This is first bank-sales increment in local auctions in recent years, marking the end of property peak.

Exactly right, more to come, but these never really go on the open market, which is why I keep telling the folks here, bankers, lawyers and property agents are your friends, don't know how to use them, too bad.

 

[xebay11]

Property agents are no stupid. They are focusing on selling you Malaysia, Thailand, UK, Aust, NZ, properties now.

TDSR not applicable for singaporean buying malaysian properties. All you have to do is to loan with malaysia banks, eg. OCBC Malaysia will ignore your loans with OCBC Singapore. A working Sg couple can loan max. 90% in malaysian residential properties for about 5-6%pa loan, if both sign on the line.

For Japanese properties, a single person can loan 90-95% too. Many seminars teach you how to hold 5, 7, 10 or 30 properties in the world with loans. But really, in the end, you are just making yourself so busy for the bankers.

Another tip, go directly to developers or their local agents to buy, don't buy from Singapore agents.

 

[streetsmart73]

hi there


1. no compassion or empathy for such individuals.
2. life in sheepishland is no bed of roses, get it.
3. if cannot make it, do something else instead of ranting off:kma:

 

[numero uno]

Nice try, dun throw your BS here, SSD put a brakes on flipping with a 4 year holding period, that duty had direct impact on flipping, 16% within one year, would cream off most of the profits made by flipping. ABSD was implemented to discourage ppl from owning multiple properties, but in order to bypass this many married couples usually held properties in each individual's name, or held properties in sibling's names and kept flipping multiple properties, so it is SSD that practically put a brakes on flipping and not ABSD, you stupid or what? Now TDSR has put the brakes on affordability, it has the effect of tying the hands of speculators, but big boys with deep pockets are not affected.

Also you did not know what CEA was and spelt it as CREA, small typo but just shows how much you are in touch with the property market.

Nobody is arguing who has bigger net worth, I was just stating that I built $4m just on property portfolio alone, alot through the help of agents, did I say that was my total net worth?

Take taxi to the airport? Nice try, I usually get limo service to the airport because I fly first class all the time, if you dun own a car just admit it, nobody will fault you for being a nobody.

Wow you really are an amatuer, do seasoned property players only need to flip properties in Singapore? I am now flipping FH commercial properties in KL like Ramli Burgers.

You are Kam Gong like a 5 year old kid with zero property knowledge who just dug his own grave.

like I said you are just full of hot air and a poor loser. everybody can take a limo taxi. what the big deal. only sorelosers like to talk big and brag.
SSD is only 4% of price or market value aftr 4 years and when people flip they flip even before TOP which is 3-4 years later when they have to pay up the lump sum, and properties acquired before 20 Feb 2010 will not be subject to SSD. So what shit are you talking about when 4 % is peanuts and would not stop people from flipping. I types crea accidentally as typo error when typing fast and hit two letters at one time. just show how stupid you are as the letter E and R are just besides each other on the qwert keyboard. you must damn stupid to pick on such simple typos error and jusmp to stupid conclusion. no point explianing to you what typo is as can't be botehr to correct for idiots like you.
you must be damn poor to fly first class(compared to me). I fly and travel in private jets for your info. first class is passe for me. even get to fly and sit many times IN the world most exclusive and luxurious jets. You would NOT even know what I am talking about!!! if you can make sense of what I said at least I would believe you, but till ten you are just bullshittting of the highest degree. prove me wrong. If you can tell me the brand of chocolate they serve in SIA first class(the ones they serve after the ice cream or cheese platter) or tell me what the interior wall colour of the toilet is like in the most exclusive jet in the world and what is in the first two sections in the world most exclusive jet( only I know as I have been inside and no photos were ever allowed), I would at least respect you. BTW if you think you can google the answer and bullshit you are wrong as there are no photos or info about what's inside the world most exclusive jet. till then you are just really full of hot air(anybody can pretend and bullshit in this forum unless you acn prove your id) and like I said you are nothing compared to me. My previous posts many years ago(you can search them)would tell you that I have move in very very elite circles. something even you have difficulty imagining and answering my questions above. As for you stop Bull sh!tting here about your supposed worth as anybody can pretend and fantasise to be a millionaire or even billionaire here .
if you can't answer my questions, you are really bullshitting and way below me. waiting for your answers. BTW I really hope you knwo what is a private jet and tell me what is the make of the most exclusive jet in the world.