Winners Say
Property agents keep abreast of industry's digital transformation
IN a world full of property agents looking to make a fast buck, those who are dedicated and professional need to be recognised and appreciated.
The StarProperty.my Real Estate Awards (SREA) 2018 held on Oct 10 showcased the finest real estate industry talents by honouring the top agents and agencies in Malaysia.
So what differentiates a quality estate agent from a mediocre one?
“A great agent goes the extra mile to understand his or her clients' interests and serve them accordingly,” said MIP Properties negotiator Freeman Woo.
“Communication with existing or past clients is very important in order to maintain a strong relationship and to gain trust,” he added.
GS Realty Sdn Bhd negotiator Terence Tan Chuan Soon emphasises innovation. “We are in an era of intense competition, hence being innovative is key to stand out in the market,” he said.
To Wayne Lim of IQI Realty Sdn Bhd, trust is the most valuable asset to an agent. “While it is important to focus on creating value for clients, trust is the single greatest asset for the long run in the industry,” he said.
Besides going the extra mile, effective communication, innovation and trust, Wiseman Realty negotiator Jenn Wong suggested focusing on fundamental aspects such as being responsible, honest and enthusiastic.
Waves of transformation
The digital disruption that has created waves of transformation did not spare the real estate industry. Some of the changes have been immediate, others gradual.
CBD Properties negotiator Jonathan Lai explains: “We used to advertise through brochures and flyers. With the emergence of online platforms and social media, information about properties can be disseminated faster and to a wider audience.
“The digital platform allows audio and visual advertisements which attracts youngsters who are future buyers. Digital media also makes it easier for us to tap into the international market. However, we still need the print media to cater to a different target audience.”
Propedia Consultancy founder Sr Vicky How concurred: “We used to distribute flyers and advertise in newspapers to generate leads. Now we also use online and digital marketing.
“Previously, we armed ourselves with folders full of property information. Nowadays, we bring along a tablet or laptop when dealing with clients.”
She added that without keeping up to date with technology, an agent risks being left behind.
Knowledge goes a long way
Meeting people of various races and backgrounds, agents have the power to influence and spread the seeds of information.
With the potential of being agents of change in the industry, they are responsible for steering the market.
According to Ideal Property Group founder Patrick Wong, education is key. “Agents must be given comprehensive training because an educated agent is the company’s best investment.”
Total Realty Sdn Bhd marketing director Dr Kho Chng Guan stressed the importance of knowledge. “I think it is the duty of the agents to educate those in the market, including tenants, landlords, buyers and investors.
“For instance, many investors think that if they buy low and sell high, they will make a profit. But they often miss out on costs such as interest, tax, lawyer and agent fees, and property maintenance,” he explained.
Unity Realty Sdn Bhd negotiator Sean Chan Jyh Chuan believed that knowledge is power in any industry in the world.
“The less informed you are of what is happening in the market, the more you will lose to agents who are knowledgeable”.
Acquiring knowledge is important such as keeping up to date with the latest discovery, invention or change in the industry.
As such, IQI Realty Sdn Bhd negotiator Suzanna Chong says that a real estate negotiator should keep on learning about the property market to enhance competency and professionalism in issues such as legal matters and the financial impact of investment.
Agreeing with the need to upgrade knowledge are IQI Realty’s Tham
Wai Kien, Ken TCK and Keegan Soh. Collectively, they suggested that agents should continuously learn new things to keep up with the speed of transformation in the real estate industry.
Facing the challenges
Cornerstone Realty executive director Wong Yau Long said: “You have to adapt and make necessary changes to stay relevant in the current market.”
Zeroing in on technology, Rina Properties Asia Sdn Bhd managing director Jordan Yeoh said his company had upgraded the workspace to operate 24 hours and encouraged agents to work online without limitations.
Property Hub Sdn Bhd director Benjamin Tee suggested several ways to face up to the digital disruption. “Firstly, be more open-minded to anything that is coming along. Disruptive technology has changed our lives in many ways,” he said.
According to Tee, marketing could come in the form of conventional four-liner print classified ads, property website portal with nice photos or social media platform with videos. He added that it was important to embrace IT rather than to go against it.
Fortress Real Estate Sdn Bhd chief executive officer Tee Kai Shiang commented that the digital era had changed the real estate game.
“Good properties are getting more attention from the public in a matter of clicks. At the same time, people are receiving information faster than ever.”
Optimism for the future
MIP Properties negotiator Joseph Chan is optimistic about the industry in 2019.
Expansion is on the line as developers are targeting major cities in the country.
“I would like to have a dedicated team specialising in Shah Alam because the city is growing with many new properties being handed over and developments completed.
“It is an emerging township that will provide plenty of opportunities to real estate negotiators,” he said.
According to IQI Realty Sdn Bhd managing director Daniel Ho, the company is planning to expand in the Asean region.
“After the success in the Philippines and Vietnam, IQI is more confident of going further in the region.
“We are looking forward to setting up offices in Thailand, Indonesia, Cambodia and China,” he commented.
Malaysian market scene
The Malaysian real estate market, despite being shaky for some time, is expected to move on a steady pace moving forward.
Gather Properties Sdn Bhd managing director Vincent Tan: “There is potential for growth, and more modern, cosy and stylish developments will be planned to cater to the needs of millennials.
Polygon Properties Sdn Bhd director Derek Soh is hopeful about the country’s new government. “With new policies, Malaysia is gaining strength and the focus is on its financial stability.
“In the long run, I believe that the Malaysian real estate scene will greatly improve and be attractive once again due to the country’s multi-lingual and multi-cultural environment, a strong education system, highquality medical services, low living costs and also attractive property prices.”
THE DIGITAL DISRUPTION THAT HAS BEEN CREATING WAVES OF TRANSFORMATION DID NOT SPARE THE REAL ESTATE INDUSTRY. SOME OF THE CHANGES HAVE BEEN IMMEDIATE, OTHERS GRADUAL.