Why I Chose To Be A Property Agent As A Career Over Others
In January 2000 I came back to Singapore after working in Taiwan for 5 years. I decided not to rush into anything career-wise and took it easy for a few months while searching for a clear direction. After much consideration, I decided to try my luck as a Real Estate Agent.
When I told my friends and family about my decision I was greeted with much scepticism. Some felt it was not a good time to enter into the property market as it was still recovering from the aftermath of the Asian Financial Crisis; some suggested I should get a regular job with a reliable and stable income, while others pointed out that the property market was a high-risk career with a high failure rate.
After taking all their advice on-board, I decided to proceed with my new adventure and become a Property Agent..
These are the five main reasons why I become a Real Estate Agent.
1. I Wanted To Be My Own Boss
It had always appealed to me to start my own business and determine my own fate. When you’re the boss you don’t need to take orders from anyone and you get to run things the way you choose.
It’s up to you to shape your working days the way you want. It’s also up to you to decide on the type of work you feel you would excel at; work that you enjoy, focusing on what makes you smile. This is exactly what I envisaged for myself.
Back then, even without the luxury of modern technology, being a Property Agent allowed people to work at flexible locations. If just the idea of spending your working day stuck in an office cubicle feels claustrophobic, then this may be just the incentive you need. I, for one, am certainly not someone that can sit behind an office desk for a period of 9 to 10 hours straight.
Today’s modern wireless technology ensures that, regardless how remote your location may be, we’re all still very well-connected. A mobile office can be set up virtually anywhere - all you need is your laptop and a mobile phone.
When you’re your own boss you have the luxury of expressing your creativity in your day-to-day life. Even if you’re not in a creative field, being your own boss allows you to flex your creative muscles on a daily basis. You can try out new strategies across the board and find ways to improve and grow your business.
From marketing and branding, PR, problem-solving and technology – all these responsibilities encourage you to start thinking for yourself, and this is where great ideas come from. When you’re the boss, anything is possible!
2. You Have the Freedom to Learn Brand-New Skill Sets
Regardless of which area of expertise you’re working in or what kind of business you start, being your own boss will demand an entirely new set of skills. Learning to become a Property Agent will teach you the right way to prospect for new clients, how to deliver a convincing presentation, how to market listings, close sales, and follow up.
You’ll also need to hone your photography skills in order to take appealing snapshots of properties. In addition, you’ll be required to learn business practices including budgeting and accounting, how to analyse market trends, and how to prepare reports for clients, just to name a few.
You also need to learn to sell yourself and be a likable person so people will want to work with you.
As you can see, there will be an explosion in your skill-set and expertise as you learn there are many different hats to wear as a Property Agent. For people who yearn to run their own business, these learning experiences are an amazing character-building gift.
3. Your Own Time - Your Own Targets
When you’re employed by someone else, it’s your employer who sets your tasks and working hours; however, being self-employed gives people the ability and freedom to work to their own schedule and set their own hours.
Being a Property Agent is not a 9 to 5 job. The timing is flexible so you can plan your work according to your own schedule.
While it’s true that being a Property Agent can (and often does) require long working days to get your business off the ground, once you’ve jumped the initial start-up hurdles you’ll discover that you have a lot more freedom with both your work schedule and your time.
This aspect of running your own business is especially great for Property Agents with families because it gives you the flexibility to plan your schedule around your family’s celebrations and other activities.
With proper time-management and scheduling, I get to enjoy travelling a few times a year, including visiting my wife’s family in Taiwan. It would be impossible for me to do this if my working hours were not so flexible.
4. The Sky Is The Limit
Part of being an entrepreneur is being able to call the shots on how much money you earn. If you choose to take several weeks’ vacation you may earn less that month. Alternatively, if you choose to put in longer hours to increase sales and provide that little bit extra for holiday spending, then that’s entirely up to you.
Over the past years I have seen many millionaire agents created in this industry. During the better times I had a few agents on my own team that earned over a million dollars a year.
As a Property Agent, you have the power and ability to make your own financial decisions regarding your business. The business itself is valuable and, as you’re the boss, you can set your own pay-check – no more asking and waiting for a small annual raise. You get to control your own destiny.
5. It Never Feels like Hard Work
When you’re a Property Agent, you know the hopes and dreams that go into creating and growing a business. You’re also painfully aware of the many long hours, day and night, that you spent working hard to make your dream come true.
And because developing a business was entirely your decision, you’ll never take your work for granted. You’re already aware that what you’re doing is important, effective, and highly rewarding, so each and every day your motivation and dedication to growing your business will only strengthen.
Fulfilling the dream of building a business that’s actually yours is the only encouragement you’ll ever need. I can honestly say that I feel truly fulfilled when I see the results of my dedication and hard work.
In Conclusion
Becoming a Property Agent does come with potential risks and there will be mistakes made along the way. Don’t ever think this career choice will be a walk in the park because you may be in for a surprise. For starters, it’s a definite possibility that you may go without income for months; on the other hand, you may strike it rich right from the get-go, like some of my agents did.
One of my agents made almost 5 million dollars in 5 years. And you’re going to have to put in a lot of long hours, especially in the first couple of years when you’ll be facing a steep learning curve. During this period you will be working outside normal working hours, and you’ll also be working weekends to cater to your client’s needs.
You may well have a great professional relationship with your current boss, but the fact still remains that when it comes to calling the shots, you have very little say in decision-making at all. Being a Property Agent affords a level of complete autonomy that working for another person doesn’t provide.
It’s up to you to decide how you do business – how to do your prospecting, how you manage your marketing, and every other aspect of your career. You also have a big say in how much money you want to earn.
And because you are your own boss, you do not have fixed working hours or a fixed working place to report to everyday. A word of caution though: it’s not difficult to spend your days floating from task to task, looking busy on the face of it but actually accomplishing very little. You must develop great time management skills and have enough self-discipline to carry out the tasks that deliver great returns.
Many people dream about becoming their own boss, but very few take the leap of faith. I am so glad I took this path 20 years ago. Even if I had failed, I would never, ever regret taking the risk.
If you aspire to starting a new business but are lacking in capital, why not consider becoming a Property Agent? Check out my blog article titled ‘How To Be A Property Agent’ or feel free to contact me for more information.
To Your Success,
Gary Chua is the co-founder of Navis Living Group
—A 1300 agents-strong division with Huttons real estate agency, and the fastest growing group in this competitive industry. Gary is also a mentor to many real estate agents and team builders, for two decades and counting.
Before devoting his work full-time to grooming realtors, Gary was himself an distinguished real estate salesperson. He first stepped into the industry at age 30 in Year 2000 and having been Top 50 Achievers in his 5 years of sales, he understands the hurdles and challenges facing both new and experienced agents, and is thus equipped with a wealth of knowledge to aid and teach the property agents whom he takes under his wings.
In 2005, Gary realised that his true calling was to groom and coach the next generation of real estate agents. It was also the year that he consciously diverted almost all of his time and effort into recruitment activities, putting his personal sales aside and taking a hit in his bottom line.
Through sheer grit and determination, Gary's vision took hold as his team expanded, eventually growing to become the largest division in its agency, and also one of the largest in Singapore. It cultivated numerous top producers and achievers throughout the decade—some of whom have clocked in more than S$1,000,000 in commission in a single year, broken many sales records, won many local and international awards, and helped many real estate agents achieve outstanding results and realise their financial freedom.
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