{"id":32402,"date":"2020-04-07T11:36:47","date_gmt":"2020-04-07T03:36:47","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=32402"},"modified":"2022-06-13T17:24:57","modified_gmt":"2022-06-13T09:24:57","slug":"surviving-covid19-advice-from-industry-leaders","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/","title":{"rendered":"Surviving Covid19: Advice from Industry Leaders"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p><span style=\"font-weight: 400;\">2020 might be a brutal year for new estate agents. If you\u2019re a new or inexperienced agent without a strong network of clients, you might be shaking right now. <\/span><span style=\"font-weight: 400;\">Viewings have been cancelled and your clients are afraid to come out of their homes for the fear of catching the virus.\u00a0 <\/span><\/p>\n<p>You&#8217;re probably wondering how to survive this crisis. <span style=\"font-weight: 400;\">We spoke to some leaders in the real estate industry, and here are some of their advice:\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-32414\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/3-2.png\" alt=\"Stuart Chng\" width=\"1004\" height=\"591\"><\/p>\n<p><b><i>According to Stuart, building a good reputation can help you emerge stronger:<\/i><\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">\u201cIt is a great time for new agents to comb for market share in fact.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">In the current market, a lot of people have more time and are glued to their screens. So definitely new agents should learn to produce their own content whether via written articles, illustrations if they are gifted at that, or videos to provide answers to commonly asked questions today such as:<\/span><\/i><\/p>\n<ul>\n<li><em><span style=\"font-weight: 400;\">Will property prices correct significantly?\u00a0<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">Should I buy now or wait?\u00a0<\/span><\/em><\/li>\n<li><span style=\"font-weight: 400;\"><em>What risks do I face for waiting till COVID is over to buy a property?<\/em>\u201d<\/span><\/li>\n<\/ul>\n<p>Psst. If you\u2019re interested in creating some video content, we also have a content arm that you can work with. Check out some of their videos <a href=\"https:\/\/www.facebook.com\/pg\/99dotco\/videos\/\">here<\/a>.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-32415\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/4-2.png\" alt=\"Ken Low\" width=\"1004\" height=\"591\"><\/p>\n<p><b>Ken believes being smart in our tactics can help win clients:<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">&#8220;In the past, hard selling and pressure tactics might have worked for buyers not as savvy, but for the past few years, the game has changed. There\u2019s such wealth of information out there \u2013 nothing can confuse consumers. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">The most important thing you should do as an agent should be to provide your clients with opportunity and knowledge that they can\u2019t get from other agents. This requires you to constantly be on the lookout.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Keep your clients close, and prepare them to make a sale by providing good guidance and advice.&#8221;<\/span><\/i><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-32416\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Red-and-Cream-Illustrative-Restaurants-Business-Card.png\" alt=\"\" width=\"1004\" height=\"591\"><\/p>\n<p><b>For Ken, being wise in our spends will go a long way:<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">&#8220;The market is still resilient as sales were only starting to pick up after the enbloc craze of 2018. And if we look at it \u2013 given the oversupply of new launches, it\u2019s actually a still buyer\u2019s market at the moment. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Don\u2019t spend time being afraid. Spend time looking out for opportunities for your clients. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">There\u2019s a lot of good reasons to buy property now,\u00a0 so I would not be worried about the volume of transactions.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">However, I would be prudent with my spending. Not because I\u2019m afraid, but because I know that opportunity is coming. Maximum liquidity is needed to invest, whether it\u2019s private property or in stocks, and I want to take advantage of that.\u00a0<\/span><\/i><\/p>\n<p><i><\/i><i><span style=\"font-weight: 400;\">If you are new in the industry and don\u2019t have a lot of reserves, I suggest cutting your cost per lead to lower quality leads.<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">This might sound strange, but I believe every person you meet is an opportunity to convert them to a buyer.\u00a0 Low quality leads might not be as quick to convert as high quality ones, but this is perfect for agents with lots of time instead of money.&#8221;\u00a0<\/span><\/i><i><\/i><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-32417\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Red-and-Cream-Illustrative-Restaurants-Business-Card-1.png\" alt=\"STUART CHNG\" width=\"1004\" height=\"591\"><\/p>\n<p><b><\/b><b><i>A valuable tip from Stuart on the key to surviving:<\/i><\/b><\/p>\n<p><em><span style=\"font-weight: 400;\">&#8220;If [agents] do not have much savings or capital, it is very important not to be choosy in this market. <\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Work on rentals and HDB sales and not just on private property sales as it requires more turnaround time.\u00a0<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Tenancy and HDB sales are a lot quicker.\u00a0<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">If you do not have any leads to work on, ask around teammates for permission to market properties for them so that they can generate leads and buyers to serve.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Everyone loves a good bargain. <\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">If newbie agents are able to spend a lot of time sifting through listings and compiling a list of firesale deals out there, they can use it to build a mailing list that will organically grow and provide them good leads to work on without a lot of prospecting costs.&#8221;<\/span><\/em><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-32420\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Red-and-Cream-Illustrative-Restaurants-Business-Card-2.png\" alt=\"Kelvin Lim\" width=\"1004\" height=\"591\"><\/p>\n<p><b>Kevin&#8217;s tip on standing out:<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\">&#8220;Financial advisers help their clients make money through policies. As property agents, our job is to help clients build wealth using property. To be an agent today you must be more than just an \u2018order-taker.\u2019 You need to be a trusted advisor.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">In a price where new launches are perceived as \u2018high\u2019, this is very important.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">You need to let clients know \u2018high price\u2019 doesn\u2019t mean there isn\u2019t profit to be made. It just means that the barrier to entry is higher. This can be a challenging task, so you will need to be as knowledgeable as possible to make your case.\u00a0<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Focus and don\u2019t be distracted. Study the market. Understand the product. Obsess over which new development, which stack, what entry price and the game plan for each one.&#8221;<\/span><\/i><\/p>\n<p><b><img decoding=\"async\" class=\"aligncenter size-full wp-image-32421\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Red-and-Cream-Illustrative-Restaurants-Business-Card-3.png\" alt=\"Rex Tan\" width=\"1004\" height=\"591\"><\/b><\/p>\n<p><b>Rex thinks taking risk is the best way to survive:<\/b><b><br \/>\n<\/b><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;<em>In a world that is changing so rapidly, the only strategy that is guaranteed to fail, is not to take any risks. With risks come opportunities, and how we position ourselves to see opportunities in today&#8217;s crisis is an important skill set to acquire.\u00a0<\/em><\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">We need to continue to touch base with our clients, not just on their property needs, but on their well-being. We should be mindful of what we share, and be tactful and empathize with our clients&#8217; situation.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">If your clients are looking towards mid- to long-term property investments, this current situation is surprisingly favorable for them.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Singapore\u2019s handling of the evolving Covid-19 pandemic gives investors the confidence to invest in Singapore. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">With the turmoil that we see in the financial market, most investors will stay away, and this is something that we cannot control. But the more astute investors will channel their funds into property investments.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Today, China&#8217;s housing market rebounds as sales triple on pent-up demand. Likewise, the appreciation potential of property in Singapore far outweighs the downside risks.&#8221;<\/span><\/em><\/p>\n<p><b><img decoding=\"async\" class=\"aligncenter size-full wp-image-32422\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Red-and-Cream-Illustrative-Restaurants-Business-Card-4.png\" alt=\"Kelvin Fong\" width=\"1004\" height=\"591\"><\/b><b><br \/>\n<\/b><\/p>\n<p><b>Kelvin believes thinking like a winner makes the world of a difference:<\/b><\/p>\n<p><em>&#8220;In tough times like these, the best agents are made. I\u2019ve been in this industry for 18 years and weathered all kinds of storms from SARS to the global financial crisis. Each time people thought the world was going to end, and each time, the market recovered.<\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Those agents that outlasted the crisis? They emerged wiser, better equipped and with experience.\u00a0 The life of a real estate agent will always be the survival of the fittest. In 2020, this will be even more true. <\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">What new agents need to do is to remember their training and resources their agencies have provided. PropNex has been holding webinar after webinar after webinar to keep our agents prepared.\u00a0<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">This is actually the best time to connect with people when they\u2019re stuck at home. They are so many tools available \u2013 Zoom, Google Hangouts, WhatsApp. What buyers are looking for is assurance on whether they are making the right decision.\u00a0<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Do your research and help them make good decisions, then reassure them every step of the way. It is understandable why they might be feeling a little jittery at the moment.\u00a0<\/span><span style=\"font-weight: 400;\">If any agent thinks they\u2019re in trouble, then that&#8217;s already the wrong mindset. &#8220;<\/span><\/em><\/p>\n<p>And there you have it.<\/p>\n<p>Advice from some of the most respected leaders in our industry today. Whether you\u2019re new or seasoned to the market, check out <a href=\"https:\/\/www.99.co\/singapore\/insider\/introducing-our-agent-resilience-package\/\">99.co Agent Resilience Package<\/a> designed to help our fellow agents during this period.<\/p>\n<p>Want to see what else we&#8217;re doing to help our agent friends? Check out our <a href=\"https:\/\/survivalguide.99.co\/\">Agent Survival Guide<\/a> filled with resources we have put together to help Agents tide through this crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2020 might be a brutal year for new estate agents. If you\u2019re a new or inexperienced agent without a strong network of clients, you might be shaking right now. Viewings have been cancelled and your clients are afraid to come out of their homes for the fear of catching the virus.\u00a0 You&#8217;re probably wondering how&hellip;<\/p>\n","protected":false},"author":99,"featured_media":32615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53845,57131,53613],"tags":[],"persona":[],"class_list":{"2":"type-post","10":"entry","11":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Surviving Covid19: Advice from Industry Leaders - 99.co<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Surviving Covid19: Advice from Industry Leaders\" \/>\n<meta property=\"og:description\" content=\"2020 might be a brutal year for new estate agents. If you\u2019re a new or inexperienced agent without a strong network of clients, you might be shaking right now. Viewings have been cancelled and your clients are afraid to come out of their homes for the fear of catching the virus.\u00a0 You&#8217;re probably wondering how&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/99dotco\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-07T03:36:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-13T09:24:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Covid19-Gameplan-11.png\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Felicia Tan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@99dotco\" \/>\n<meta name=\"twitter:site\" content=\"@99dotco\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Felicia Tan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\"},\"author\":{\"name\":\"Felicia Tan\",\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/#\/schema\/person\/dd47076fafcbc59b9e22e04839c8084c\"},\"headline\":\"Surviving Covid19: Advice from Industry Leaders\",\"datePublished\":\"2020-04-07T03:36:47+00:00\",\"dateModified\":\"2022-06-13T09:24:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\"},\"wordCount\":1279,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2020\/04\/Covid19-Gameplan-11.png\",\"articleSection\":[\"Property Agent Guides\",\"Property News\",\"Real Estate Industry\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\",\"url\":\"https:\/\/www.99.co\/singapore\/insider\/surviving-covid19-advice-from-industry-leaders\/\",\"name\":\"Surviving Covid19: Advice from Industry Leaders - 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