Many Real Estate agents like to depend on luck for their business.

‍

And what that means is: I see many agents who solely focus on New Launch marketing, they'll often find that luck is a major factor in their business. They promote New Launches to their clients, collecting many cheques as they can, hoping that one of them will be successfully chosen in the balloting process. While there's nothing wrong with this approach, it can often lead to failure.

‍

‍

Relying on luck means that you're not in control of your business. You're relying on other factors to make the decisions that will determine your success or failure. If you want to succeed in Real Estate, you need to take control of your business and make your own luck. This means focusing your efforts on "guaranteed income", and putting your 100% there.

‍

In this article I will share some ways you can take control of your activities and your results. When you take control of your business, you give yourself the best chance for success.

New Launch Is Like Lucky Draw

When it comes to selling a New Launch (especially the "hot" ones), it can often feel like you're playing a lucky draw with your client. Because you have to ballot for the units, there's always an element of chance involved. You submit your cheque and hope for the best, but there's no guarantee that you'll actually get the unit that your client wants.

‍

A very recent example in 2022 is AMO. AMO Residences is oversubscribed to the point that it becomes like a lucky draw. Many cheques were provided and balloting was done.

‍

If you do get lucky and your ballot is successful, it can be a great feeling for both you and your client. But if you don't get the unit you wanted, or worse - if you don't even get a good ballot number, it can be disappointing for both parties.

‍

Just like with a lucky draw, there are always going to be people who are disappointed with the outcome. People who didn't get the unit they wanted, or who didn't get a unit at all. And just like with a lucky draw, there's always going to be someone who comes out on top. Someone who gets exactly what they wanted, or more than they ever could have hoped for.

‍

So if you're thinking of selling New Launch, remember this in mind. You might get lucky, or you might not.

Lucky Draw Leads To Disheartened Clients

While serving your clients, your goal is to help them find the perfect property to achieve their goals. However, the process of getting a New Launch can be complex and frustrating to many, especially if your client is vying for a highly sought-after New Launch.

‍

If you are not able to help them secure the unit they want the first time, they may try their luck at another project. If this happens for another 2 to 3 more times, and you still cant get their desired unit due to "luck", then they may get disheartened and go elsewhere to work with another agent.

‍

It is important to remember that your relationship with your clients is built on trust. Even though it is not your fault in the balloting process, this is a common outcome for most clients. I have seen this happen too many times with many agents sharing their experience with me.

Here's A Better Way

What's a better way to do business then?

‍

In my experience, it's to do Post Launch and Resale, where ready units are available. You are also guaranteed to make a sale if you focus on that.

‍

I hear many RES saying that Post Launch "cannot make money", but I don't think it's true. In fact, if we look at the market now, some Post Launch prices are still attractive because of the recent price hike.

‍

For example: Recently there were 3 Post Launch developments - The Hyde, 10 Evelyn, Sloane Residences - which managed to sell 50 units - proving there is still a market for this.

‍

To relate back to my example of someone fully focusing on New Launch - like AMO Residences. Getting the cheque from the client is not difficult, but getting a conversion is the tough part, where its oversubscribed and a large number of people are fighting for very limited units.

‍

Selling Post Launch or Resale units can be more profitable than waiting for the ballot of a New Launch condo. By focusing on Post Launch or Resale, Real Estate agents can serve your clients to the fullest by not putting their property purchase decision on a "Lucky Draw", while maximizing your earning potential at the same time.

‍

Of course, there are people who purely focus on New Launch and they are also able to make it work. But there's a technique to be able to do so - by Bulk Purchase. This is a technique for another article or video in future.

‍

And for RES who want to address their cash flow needs, they should move into Rental.

‍

So, if you want to build a successful real estate business, you need to focus on the things that you can control. My personal recommendation is to go for Post Launch and Resale units, where your income is guaranteed.

Be A True Heart Consultant For All Clients

Here are some more factors in our business that we can control:

‍

To be successful in Real Estate, it's important to connect with your customers and serve them from the heart. By taking the time to learn about their needs and wants, you'll be able to better serve them throughout the home-buying or selling process. And, when you're able to build trust and establish rapport, providing them with the best possible service and advice, your customers will be more likely to recommend you to their friends and family.

‍

Combine this with using cutting edge softwares tailored for making the best Real Estate decisions, and you will be able to provide top-notch value to all your clients and be a true "heart" consultant to them.

‍

‍

A software that my team and I are actively using to scale our Real Estate business is GM Property. If you've never heard of GM Property before, here's what it does:

‍

GM Property is an exclusive property planning software, and its one that's never-before-seen in the industry. This software is revolutionary in its ability to empower users to deliver clarity and financial success to our clients. The goal-planning and scenario-based features of GM Property make it an invaluable tool for anyone working in Real Estate.

‍

With GM Property, users can create detailed plans and budgets for their projects, as well as explore different what-if scenarios to find the best solution for their clients. This level of planning and flexibility is essential for achieving success in the property industry, and GM Property is the perfect tool for any serious Real Estate Salesperson who is looking to deliver the best results for their clients.

‍

To read more about GM Property, click this link: https://www.linkedin.com/posts/bobby-sng_i-am-always-on-the-lookout-for-new-technology-activity-6955051463437930496-6-Wm?utm_source=share&utm_medium=member_desktop

Summary

Relying on luck is not a sound strategy for success in any business, but it's especially risky in Real Estate. If we purely focus on New Launch, there are many variables that are beyond our control, especially in the balloting process. If you want to build a successful Real Estate business, you need to focus on the things that you can control.

‍

What are some of the things we can control?

‍

✅ Focus on selling Post Launch or Resale units that are available, and you are guaranteed to make a sale.

‍

✅ Taking the time to get to know your customers, adding so much value to their decision making and portfolio planning, and being a true "heart" consultant to them, you will be able to build strong relationships that will last a lifetime.

‍

When it comes to Real Estate, success often depends many factors. However, there is one other factor that can have a major impact on your business: you. That's right - by taking control of your business, you can give yourself the best chance for success. After all, no one knows your market better than you do. And, when you're in charge, you can make decisions that are based on your unique circumstances - not someone else's.

‍

‍

Of course, being in control also means being accountable for your results and taking ownership of your business. But, if you're willing to put in the hard work, the rewards can be well worth it. So, if you're ready to take your business to the next level, remember: it all starts with you.

‍