Open Question
I'm thinking of becoming a full-time property agent.

- How much does a typical new property agent make in a month realistically?
- If the commission to sell a property is 1%, how many % of that actually goes into the pocket?
- Is the property agent business similar to the multi-level marketing business?
- Where should I start to become an agent?

Posted by AgentToBe on Mar 21, 2012 in Property Agents | 2416 Views

Latest Answers by Real Estate Professionals (9 Answers)

William Goh
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Answer Posted on Mar 23, 2012
Hi,
Typically an above ave agent will make $100+k pa. As for new agents, it's around $50+k pa.
Every agency has its own commission structure. In PropNex, the comm structure is as follows:
1) 0 to $20k - 70/30% (30% goes to the co),
2) $21k to $50k - 80/20%,
3) $51k to $80k - 85/15%,
4) $81k+ - 90/10%.
Property agent business is not similar to MLM.
With the implentation of CEA (Council for Estate Agencies), all aspiring agents must take and pass RES (Real Estate Salesperson) course and join an agency which will register to apply for the license on your behalf from CEA (Council for Estate Agencies). In order to be a property agent, the min age is 21 yrs and must have 4 O level passes.
PropNex is one of the appointed training centres to conduct RES course and the course fee is $888.
You may visit the following website to source for other training centres:
www.cea.gov.sg
Currently PropNex offer refund of RES training fee up to max $888 (with receipt) after you joined the company and achieved:
(a) $10k commission within 6 months after registration with CEA;
(b) $20k commission within 12 months after registration with CEA.
After passing your RES, and before deciding which agency to join, i strongly urge you to speak to a few agencies to have a better understanding of their systems and network.
You are welcome to be part of our team Powerful Negotiators, the No. 1 team in PropNex with more than 800 agents, a platform which provides you with effective networking. In our team, you will never work alone. We also have our own Realtime web system with listings (free leads), in detail (full address with unit no) for you to kick-start and to match buyers. All of us have pw to access to the system. Once you are part of our Team, you can immediately use all the listings to match your buyers already.
I am successful today because i was fortunate to have found the right team 5 years ago. Previously, i was from logistic industry and when i join this industry, after my early retirement, i dont have any experience in sales at all. Now i am leading a team of 40+ agents.
Pls feel free to drop me a mail if you need any clarification.

Best Rgds,
William Goh, mobile 9477-3900
Division Director, CEA No R010167A
Website: www.williamgoh.me
PropNex Realty, Lic No L3008022J.
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Michael Wong
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Answer Posted on Mar 28, 2012
Hello

The basic criteria to be eligible is -
1. min 21 yrs old
2. Must have 4 ‘O' level passes.

Then, you will need to register at the Council for Estate Agencies (CEA)and enrol for the new council course provider & exam, Real Estate Salesperson (RES) (and pass the exam).
REA - The exam for agent keen to set his own agency.
RES - The exam for agent planning to be salesperson.

CES Course Fees $834.60 w/ GST
Exam Fees $246.10 w/ GST

CEA Registration Fee $230.00 + $50w/GST

Professional Indemnity & Public Liability Insurance-
Name cards and Tag

Then, you may join any agency of your choice.

Check their website out: www.cea.gov.sg

Alternatively, if you do not possess 4 ‘O' level passes, you have to take and pass a test, called - WPLN (Workplace Literacy & Numeric skills) conducted by WDA (Workforce Development Agency) before you can register for the RES course, conducted by CEA. Once you've passed RES, you may join any agency of ur choice.

Here's a quick intro on my team :

My team and DTZ have a very systematic way of training our associates. We have a track record of producing many Top Producers, Top Managers and Top Rookies at DTZ. Your initial phase of learning is very important. Don't make the mistake of joining the wrong team. Mentorship and training can make or break a property agent's career. Don't compromise on that! Join a reputable company with a reputable team! DTZ is a company which has upheld its reputation for years too!

Today, we would like to invite you to meet us at DTZ Debenham Tie Leung (SEA) Pte Ltd for a fulfilling and promising career opportunity. At DTZ, we are constantly on the lookout for enthusiastic and prospective individuals and real estate agents to come & join us for new & exciting opportunities. We have many interesting projects lined up for you to explore & experience with fantastic commissions for the motivated people who aim to achieve!

If you are keen to meet up, please feel free to contact me at my mobile and email listed below to arrange for a confidential, no-obligation discussion at your own convenience. Alternatively, leave me your name, contact no and email address and I shall get intouch with you soon.

Good luck & Cheers! :)

Best Regards,
Michael Wong
DTZ, Debenham Tie Leung (SEA) Pte Ltd
Vice President, Resale Division
H/P: 97393418
Email: michaelwong68@gmail.com

"Success only comes to those who aim to achieve and have the will to win"!
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Terence Lai
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Answer Posted on Mar 22, 2012
Hi,

Let me be direct to answering your questions.

Q: how much does a new agent earn per month?
A: Ranging from $3-5k on average. My new agent with absolutely zero sales experience recently earned more than $50k after converting to fulltime in February.

Q: How much %tage goes into agent's pocket?
A: For a new agent, typically will start from 70% of the sales commission into your pocket. Experienced agents enjoy 90% commission structure.

Q: Is the business similiar to multi level marketing business?
A: In this industry, we have 2 career path. Sales career path & management career path. For team managers leading a sales team, the agency will pay them management fees for every transaction that his team closed. Average income for team managers is from $2000 to $20000 per month. I'm currently also looking for experienced team managers to lead my sales team.

Q: Where to start to become an agent?
A: Need to attend Real Estate Salesperson (RES) course, pass the exam, before you can register with an agency to become a salesperson.

Hope I have answered your questions.

Regards,
Terence Lai
OrangeTee.com Pte Ltd
HP: 9188-4037
Email: terence.lai@orangetee.com
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J.A. Goh 吴永益
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Answer Posted on Mar 22, 2012
Dear AgentToBe,

If you free, most welcome for a chat with me at our Toa Payoh office. I can clear all your doubts and bring you to tour our building. You will be able to know what we can offer you, and how I can coach new agents along.

No obligation if you decided not to join me. More of experience sharing for you.

Please feel free to drop me an email or call me directly for a non-obligation discussion, if you still have further questions. Alternatively, we can also meet up to discuss
at your convenient time and place.


Thank you & Best Regards
J.A.Goh
HP: 9639 0350
ERA Senior Marketing Director
CEA Reg No. R025894Z
CEA License No. L3002382K
www.gohjaERA.myweb.sg
Email: gohja@singnet.com.sg
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Answer Posted on Mar 21, 2012
Greetings Agent,

I believe you roughly have an idea of how the agency pay may be like after going through the comments of seasoned agents.

Personally I can share that my first 4 months I made only $2,400. So about $600 per month!

However tough times don't last but tough people do! In order to move forward to progress in this industry you need nothing but the correct motivation. You need to question yourself just why you want to leave the comforts of your daily job and dive into a tougher pool. If your answer is a unmovable YES, then I congratulate you, as this is the hardest aspect for any mentor to teach to new agents.

Mentorship is very important to rookies but not a make-or-break element. I survived till this date without any mentor but it made me understand why it is important. Hence I put in a lot of effort to guide my agents, not over-feed, rather than let them weather the difficulties.

Feel free to contact myself at hoshukai@gmail.com, should you require further advice on this. I already have agents who have joined myself after my answers to them here. Perhaps you would like to find out why.

Good luck!

Cheers :)

Ben
98210387
www.benho.myweb.sg
hoshukai@gmail.com

"Trust That Lasts"
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Catherine PANG
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Answer Posted on Mar 21, 2012
It is important to identify a 'coach' that can learn and earn. At the same time, there should be activities and system for all types of salesperson to embark the business.
www.catherinepang.com
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Mike Lim
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Answer Posted on Mar 21, 2012
Afternoon,

As property agent, our income from transactions can be at $0 to even $700k per month. Being newbie, unless you are doing rental, it would be good to have some funds parked aside.
As for commission split, different agency provides different rates and your manager and director does have over-riding on your comm.
As to which company to join? Reputable ones are good place to start but it's your manager's ability to guide and teach that matters unless you don't mind sinking.

Do feel free to contact me for further discussion.

Regards
Mike Lim
96929209
ERA
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Geryl Lim
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Answer Posted on Mar 21, 2012
Dear AgentToBe,

As a real estate salesperson, we have no fixed salary, unless you are on a special scheme which are offered by some agencies where fixed base salary is given.

Some fresh salesperson earn $0 for first few months while others can earn as much as more than $10k/mth.

The important thing as a fresh salesperson, should you have totally no idea where and how to get started is to join a team which has various system in place to support your growth and development. Do bear in mind that in order to groom you, the respective manager maybe jeopardising his own sales results to develop you and subsequently you are likely to be his competitor in the market.

At ECG Property, we have various systems in place to assist fresh salesperson to kickstart their career. 1 example is the ECG Landed Dynamic Alliance, where we focus on the sales and purchase of landed property. We have various tiers in place for your career path to grow. If you are keen to listen to what this dynamic system is all about, please let me know and we can meet up sometime over coffee for discussion.


Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565
Email: lim.geryl@yahoo.com.sg
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Eric Tng
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Answer Posted on Mar 21, 2012
How much do you want to make? In this business, you are only limited by your own hunger and desire.

Different company has a different commission split structure, it may be best we meet up and I can clear up all your doubts.

You can reach me on 90052292 or email Eric.90052202@gmail.com. Act fast!
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