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SG More agents marketing commercial, overseas properties

Property Here - Wednesday, July 17, 2013

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After a slew of cooling measures that mainly affected the residential market, property agents are beginning to diversify their income into other segments, including commercial and industrial sectors as well as overseas projects.

PropNex Realty Chief Executive Officer Mohamed Ismail said about 10 percent of their salespersons have moved into industrial and commercial properties, local media reported.

“Our salespersons are spending more time understanding and marketing overseas and commercial properties. However, 80 percent of their income still comes from the residential segment.”

DTZ Property Network Executive Vice-President Thomas Lee noticed the same scenario as agents shift towards marketing industrial and commercial properties.

“The measures and higher Additional Buyer's Stamp Duty (ABSD) have resulted in heightened buyers’ interest in owning foreign properties. Many agents have tied up with overseas developers to market their properties in Singapore.”

Property agencies have stressed that salespersons should possess the information and right training to help home buyers in making informed decisions. Lee added that salespersons are becoming more innovative in their marketing strategies even as they switch to other means of revenue. 

“The need to balance cost against reduced revenue has now become a pressing concern, and agents now need to be more innovative and creative to minimise expenses. Many have resorted to sending mass text messages to reach out to co-brokers.”

Donald Yeo, Head of Service and Support at HSR, said that they “conduct a lot of classes to reposition our agents when the market is slow. We give them a strategy, and throw in some innovative ideas to help them see the market in a different perspective”. 

“Since the introduction of the measures, there has been a slowdown in the market,” he added. “But trained agents believe the market will rebound. So they are stocking up on their inventory. They are creating more contacts and increasing their database. So when there is a market change, they will be ready.”



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg