educates housing agents on how to be successful in real estate.

Location: Singapore

Veterinary surgeon at Toa Payoh Vets, Singapore and operator of a Singapore housing agency,

Sunday, April 10, 2005

SURVIVAL SECRETS FOR AGENTS. Power Plays by Executives

POWER PLAYS BY EXECUTIVES - Time and Tide wait for no man.


You have a client who is willing to pay $30,000 a month for a Singapore penthouse 4 months later. He is willing to pay a premium and immediately. You contact the executive managing the penthouse. She says, "Wait, I have to confirm whether the incumbent tenant wishes to renew her lease."

So, you wait for 2 weeks. No action. I expected that as you might have offended the executive sometime earlier regarding other bookings and this is her way of paying you back by playing hard to get.

I can tell you that the executive is playing a game with you. If she is concerned about the bottom line of her employer, she will have taken your offer just by giving the incumbent tenant 7 days to reply as to whether he wishes to extend the lease.

So, what do you do? Look for alternative accommodation? But your client wants this penthouse or other apartments in the same development. So, there is no point in making him hang on indefinitely.

Fortunately this agent consulted me as I warned him that he was not closing the case despite so many e-mails to the prospective tenant c.c to me. His e-mails at first gave me the impression that the case was closed. On further scrutiny, I discovered that the reservation was pending renewal.

The solution in this case is to make personal contact with the next management level. E-mail will do but DO IT and not wait. This is what I mean by being PRO-ACTIVE. All talk and no action means NO CLOSING.

The best is to see the next management level. Failing which, contact the Managing Director. Time and tide wait for no man.

The agent e-mailed the next level manager, stating the problems and unhappiness of the client waiting and waiting. So far, the response seem to be better. Alternative apartments are booked pending confirmation of the availability of the penthouse in 3 days.

We try not to antagonise executives on the grass-root level. However, many of them seem inert. They have a fixed salary and no bonus for working hard. In Singapore, most cannot be "bribed" with some gifts. Therefore, they have no motivation to boost the company's income and have no ideas what to do.

The system of waiting and waiting for the incumbent tenant to renew the lease when it is due is a bad way of doing business. For some operators, this is the policy and may not be a power play.

You, as the housing agent, needs to know what to do to close the cases as you will have spent so much time waiting and waiting till you lose out on better offers given to the executive from other agents. I mean, the executive could be playing you against another offer, making this a bidding auction. You wait patiently and gets outbidded. Being pro-active and knowing the system is one way you can be successful.

Kong Sing


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