Timing the Market: Lessons from Singapore’s Property Price Fluctuations
TLDR Singapore’s property market has seen price declines during major crises such as the 1985-1989 pre-recession, 1996-1998 Asian Financial Crisis,...
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TLDR
Understanding the complexities of the real estate market and transactions can be overwhelming. Enlisting the help of a real estate agent can provide you with professional knowledge, non-emotional negotiations, access to a wide network, assistance in filtering out undesirables, and protection from shady individuals. Moreover, having an agent manage inquiries and represent you can save you time and ensure a smooth transaction process.
I acknowledge that an experienced agent can be beneficial for an effortless transaction. Even people with considerable knowledge and experience with buying and selling properties enlist an agent’s help.
Discover the top 5 reasons why you should consider enlisting the help of a real estate agent instead of taking on the task of selling your property yourself.
1. Professional Knowledge
It may seem easy for a professional to breeze through a task in a matter of minutes, but those moments of glory come from years of hard work and preparation. The same goes for real estate agents, who must pass the tough Real Estate Salesperson (RES) examination set by the Council for Estate Agencies to earn the title. This Chinese adage succinctly sums up the dedication required: “10 years offstage equates to a minute of glory onstage.”
Reaching success in the real estate industry is no easy feat! Most realtors will put in their best effort and try several times before passing the challenging examinations, with some going the extra mile and striving for more than 10 attempts. Rest assured that the intense regulations and intensive knowledge gained from the process will ensure your transaction is taken care of in a jiffy, even if any hiccups or tricky situations arise.
In such cases, trying to tackle a complicated transaction by yourself may leave you regretfully realizing that you need a specialist to help you out.
2. Non-Emotional Negotiations
Similar to how medical professionals don’t treat their close family members in order to avoid letting personal feelings affect their professional decisions, managing your own HDB transaction could put you at a disadvantage in negotiations if your feelings or personal attachments get in the way.
We all get emotionally attached to our homes and can overestimate their value, thus influencing our rational decisions in a sale. Inexperienced buyers and sellers may also reveal too much information and leave themselves vulnerable in a negotiation.
Avoid the awkwardness and have a professional come in to represent you and provide the level-headed insight to ensure the best outcome for your transaction.
3. Tapping On The Network
If you are not a savvy marketer, you probably won’t have the same pool of clients and fellow agents as a real estate expert. Generally, agents have an entire department or division with an established network to make real estate deals simpler. This also gives them a dependable backup system to turn to if ever they come across a situation they never have before.
DIYing your transactions can feel like you’re up against a wall of limited resources – primarily online platforms and your own social media network.
Reaching a large enough pool of interested buyers through posting alone is often difficult – that’s why I have a internal broker system to give you the best chance of finding the right buyer for your property.
This qualification procedure leads us to the following point, where you are sure to receive a bulk of unqualified buyers.
4. Weeding Out The Undesirables
Having a real estate professional to help you with your transactions is like having a filter to separate out the true, serious buyers from the idle browsers – or worse, trolls.
When you go it alone, you risk not only exposing your personal information to numerous strangers, but also giving them your contact details and address, should viewings take place.
This could put you and your family in an unsafe situation, particularly if there are young or elderly members in the household.
Hiring a professional will not only provide an extra level of assurance when it comes to identifying legitimate buyers, but they’ll also serve as a ‘privacy shield’, filtering out any irrelevant or unnecessary questions and saving you from having to respond to awkward and off-topic queries.
It’s a great way to save time and avoid frustration!
5. Not Dealing With People
Shady Sellers/Buyers
Having an agent at your side during any transaction can prove to be invaluable. Their keen eye for spotting any red flags or identifying potentially fraudulent activities can help safeguard your best interests and ultimately save you from any suspicious individuals.
Agents are highly trained to file reports on suspicious activities and guarantee the legality of the transaction – making their expertise invaluable. Put simply, their presence helps ensure the legitimacy and security of the entire process.
24-Hour Inquiries
Have you ever heard of those individuals who are too busy to consider their housing needs during the day, yet they rush to their lengthy to-do list at night? You are one of those they want to get in touch with, but what if you are tucked in bed and sound asleep at two o’clock in the morning? Do you still want to be woken up in the dead of night?
On weekends, when you’re trying to relax with your family, do you really want to be bombarded with constant phone calls?
Hire an agent and you’ll have a professional to take all of these calls off your hands. The commission you pay will be worth every penny for your mental wellbeing and peace of mind.
A Trusted Representative
No longer do you have to worry about having your relaxing me-time, social engagements or work hours interrupted by an incoming call from a potential buyer requesting a viewing right away.
With an agent to manage these details for you, you can rest assured that your daily activities will remain uninterrupted while they take care of the viewings.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
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