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http://www.asiaone.com/Business/My+Money/Property/Story/A1Story20091120-181252.html
Mon, Nov 23, 2009
The New Paper
She earned twice as much in a month as she did in a year
By Desmond Ng
A RECORD 5,719 private homes were sold from July to September - surpassing the previous record of 5,129 units in the second quarter of 2007.
Because of this boom, real estate agencies have reported stellar performances, with more people signing up to become agents.
Related story:
» Fast upturn in property market surprises agents
In one month, this property agent earned $90,000 in commission nearly twice the amount she did for the whole of last year. And it's thanks to an unexpected mini property bull run in the third quarter of this year. The returns can be attractive - just ask property agent Wee Ai Na.
This 34-year-old earned about $90,000 worth of commissions in October, far exceeding the $48,000 that she earned in the whole of last year.
Miss Wee, an agent with ECG Property, said her recent deals were all sales of private condo units averaging some $1.5 million each. She sold six condo units last month, with a total value of about $10 million, in the prime 9, 10 and 11 districts.
Most of her transactions are new units from developers, where the commission is less than 1 per cent.
Said Miss Wee: 'I never expected to do so well. But the market did really well and I guess I was lucky. It was a lot of hard work and I guess I got my lucky break.'
Miss Wee, a Singapore permanent resident, has been in this business for only two years.
She moved here from Malaysia when she was 3 and studied here before getting her business degree in accounting and finance at the University of Exeter in the UK.
She admits that hers is no rags-to-riches story. Her father,who died 11 years ago, was a timber tycoon in Kuching, Sarawak, and they had a huge house on a one-hectare site.
Miss Wee, who is single, lives with her retiree mother in a 3,200 sq ft condo in Katong.
She does not own any property.
Her three brothers and six sisters are all in the family business.
'I am very blessed and well-provided for. I had no issues with money and I never had to go hungry. But I don't ask my family for money,' she said.
She worked as an auditor with KPMG for two years before joining Hewlett-Packard as a business process analyst. She worked there for about three years. Her last drawn salary was about $5,000 a month.
She then joined a trading business as a business partner selling misting fans here and in Kuching.
It didn't take off as well as she expected, and she turned to real estate.
'I have always had a keen interest in property because it's a tangible asset. I also like to meet people. So, I thought that it was a good industry to be in,' she said.
Her start was far from rosy.
For the first six months, she didn't draw a salary and had to live off her savings.
'The volume of work was very low, I was still learning and observing the market. My family asked if I wanted to join the family business but I refused to do so.
'I knew I was in a bad shape but I wanted to strike out on my own. I learnt how to live lean then,' she said.
That means no new clothes, jewellery or lavish meals at restaurants.
As she lives with her mum, her biggest expense is her car, a humble Chevrolet Aveo for which she paid $67,000 in 2003. The $650 monthly instalments came from her savings.
'I can't do without the car because I need to travel around to meet clients,' she said.
As a rookie, Miss Wee has been learning a lot about her job. For example, about how it helps to go the extra mile for her clients.
She recalled how a client remarked that he missed the famous braised duck rice from Pasir Panjang Road about two years ago.
Miss Wee immediately drove from East Coast to Pasir Panjang to buy the duck rice, and delivered it to her client who lives in Sembawang.
The reward' A $10,000 commission for closing a $1.5 million Reflections at Keppel Baycondo deal for this client a week ago.
She said: 'You cannot take these things as hardship. It's part of the job. I am serving my client and I have to do my best.'
PropNex agent Andy Goh, 29, raked in about $600,000 in commission this year alone - a huge increase from his takings of about $400,000 last year.
This former air force regular has been an agent for about 2 1/2 years.
He said: 'I've always had a passion for property and the returns can be good. I am focused on my high net-worth clients and it paid off.
'This is my best year. The property market did well, and it helped my business too.'
This article was first published in The New Paper.
Mon, Nov 23, 2009
The New Paper
She earned twice as much in a month as she did in a year
By Desmond Ng
A RECORD 5,719 private homes were sold from July to September - surpassing the previous record of 5,129 units in the second quarter of 2007.
Because of this boom, real estate agencies have reported stellar performances, with more people signing up to become agents.
Related story:
» Fast upturn in property market surprises agents
In one month, this property agent earned $90,000 in commission nearly twice the amount she did for the whole of last year. And it's thanks to an unexpected mini property bull run in the third quarter of this year. The returns can be attractive - just ask property agent Wee Ai Na.
This 34-year-old earned about $90,000 worth of commissions in October, far exceeding the $48,000 that she earned in the whole of last year.
Miss Wee, an agent with ECG Property, said her recent deals were all sales of private condo units averaging some $1.5 million each. She sold six condo units last month, with a total value of about $10 million, in the prime 9, 10 and 11 districts.
Most of her transactions are new units from developers, where the commission is less than 1 per cent.
Said Miss Wee: 'I never expected to do so well. But the market did really well and I guess I was lucky. It was a lot of hard work and I guess I got my lucky break.'
Miss Wee, a Singapore permanent resident, has been in this business for only two years.
She moved here from Malaysia when she was 3 and studied here before getting her business degree in accounting and finance at the University of Exeter in the UK.
She admits that hers is no rags-to-riches story. Her father,who died 11 years ago, was a timber tycoon in Kuching, Sarawak, and they had a huge house on a one-hectare site.
Miss Wee, who is single, lives with her retiree mother in a 3,200 sq ft condo in Katong.
She does not own any property.
Her three brothers and six sisters are all in the family business.
'I am very blessed and well-provided for. I had no issues with money and I never had to go hungry. But I don't ask my family for money,' she said.
She worked as an auditor with KPMG for two years before joining Hewlett-Packard as a business process analyst. She worked there for about three years. Her last drawn salary was about $5,000 a month.
She then joined a trading business as a business partner selling misting fans here and in Kuching.
It didn't take off as well as she expected, and she turned to real estate.
'I have always had a keen interest in property because it's a tangible asset. I also like to meet people. So, I thought that it was a good industry to be in,' she said.
Her start was far from rosy.
For the first six months, she didn't draw a salary and had to live off her savings.
'The volume of work was very low, I was still learning and observing the market. My family asked if I wanted to join the family business but I refused to do so.
'I knew I was in a bad shape but I wanted to strike out on my own. I learnt how to live lean then,' she said.
That means no new clothes, jewellery or lavish meals at restaurants.
As she lives with her mum, her biggest expense is her car, a humble Chevrolet Aveo for which she paid $67,000 in 2003. The $650 monthly instalments came from her savings.
'I can't do without the car because I need to travel around to meet clients,' she said.
As a rookie, Miss Wee has been learning a lot about her job. For example, about how it helps to go the extra mile for her clients.
She recalled how a client remarked that he missed the famous braised duck rice from Pasir Panjang Road about two years ago.
Miss Wee immediately drove from East Coast to Pasir Panjang to buy the duck rice, and delivered it to her client who lives in Sembawang.
The reward' A $10,000 commission for closing a $1.5 million Reflections at Keppel Baycondo deal for this client a week ago.
She said: 'You cannot take these things as hardship. It's part of the job. I am serving my client and I have to do my best.'
PropNex agent Andy Goh, 29, raked in about $600,000 in commission this year alone - a huge increase from his takings of about $400,000 last year.
This former air force regular has been an agent for about 2 1/2 years.
He said: 'I've always had a passion for property and the returns can be good. I am focused on my high net-worth clients and it paid off.
'This is my best year. The property market did well, and it helped my business too.'
This article was first published in The New Paper.
