2 (7) Method
The Golden 7 Rules & 7 Attributes of Real Estate Business
that has helped Lynn & her agents to increase
their sales and establish an impressive career.
Allow me to share 3 of the 7R Criteria here
What it takes for an agent to close deals effectively?
Many agents have struggled at explaining the nuances of selling a house when they are faced with questions from their customers like, “Why is this property good or profitable?”. These questions are asked regularly and I want agents to gain the knowledge and facts to be able to answer these questions with ease.
Therefore, with my 12 years of Real Estate Experience and knowledge, I developed this 7R Formula to be used as a litmus test to help agents check if the development is indeed a “Good Buy”.
This 7R is imbued in all of my agents, and with this simple formula, they are able to prove to their clients with evidence and manage to achieve top sales.
I believe that in order to be successful, an agent must know how to select “Good” properties for their clients, so that the agent can get recurring business in the future, and the client can earn and save for their retirement.
Over the past 12 years, I have attended numerous talks, read multiple articles and with my 750 transactions, I found that good properties have this 7R.
If you’re thinking that location would be one of the 7R Criteria,
I would have to disappoint you, as it is definitely not one of them.
In fact, we have witnessed many losing money due to them choosing properties because their selection is based on “location“.
So with many condos to pick, how do you help your client select the best product which can help your customer make money?
In today’s Property Market, finding a unit at $1700psf is very common. But how do we know if we are overpaying for the investment piece?
Which do you think is better? Buying a unit in Sengkang and Tanah Merah at $1700? Or choosing between a freehold unit at East Coast at $1500psf, vs buying a 99-year leasehold unit in Paya Lebar at $1700psf?
What if I told you that I will choose the 99-year-old leasehold in Paya Lebar, instead of the freehold unit in the East Coast. You may argue that the East Coast area is prestigious, and has higher chances of appreciating more, and it has a lower psf too.
Why did I choose the former?
This is due to the fact that with the empirical evidence from the trendlines and charts provided by our company, we can easily identify the right prices to enter.
So this chart explains about the importance in understanding the right entry Price.
One will deem that freehold in D15 will be definitely better than a 99yrs D13.
From the trendline, one will earn by buying a D13 99 yrs leasehold.
Therefore, having the right knowledge makes a great difference.
Singapore is considered to be a small city, but it is large enough for us not to know the future plan of many areas in Singapore. Having the knowledge and foresight of analyzing the masterplan, will help in identifying the potential growth of a development.
By understanding how transformation of an area impacts the area,
it would enable us to help our clients make the 1st mover advantage.
Likewise, this skill would help us identify the right property for our own investment choices.
Condo size and Land size
You may ask, how does the size of the condo and land size matter in determining if a condo would make a good property investment?
In my 12 years of experience, this is one of the key factors which affects the future selling price.
This is because in smaller projects, there are lesser transactions.
Since banks value the property based on the previous transaction, smaller condo developments tend to have way lesser transactions. This would translate to a lower capital appreciation.
Furthermore, a smaller development would result in higher maintenance fees.
Therefore it is important for an agent to know how to identify the right size to buy.
The next 4 Rs are quite crucial for every agent to know, specially
in a fast moving real estate market like Singapore.
If you want to learn more details, and to receive my 7R Criteria
Presentation Slides, please arrange to meet me for a coffee.
What does it take for an agent to be successful?
What many agents lack today is a strong foundation, an investment of time and knowledge to understand and build ones own self.
Upon grooming and mentoring many agents in my 12 years in real estate business, I have identitified the “must have” 7A’s, attributes every agent should have to become successful in their career.
These 7A’s will help agents to re-discover themselves and understand ‘why’ it is necessary to fullfil all 7 attributes to emerge as an achiever.
Let me explain an overview of the 7A’s.
Right Knowledge, Skill and Learning through right mentors and guidance
Right Bosses, Leaders, Company, Friends Colleagues, Positive, Sharing, Family like Culture.
Right Projects, Directing strengths in New Launches, Resale, Asset Progression
Right Softwares, technology to make it convenient for clients and making service faster and smoother.
Right Referrals, networking and prospecting clients based on connection, intention, objectives and background.
Right Communication between tems and divisions, Sharing insights through trainings and consumer empowerment seminars
Right Values & beliefs, dedicated, hardworking, having the right ethics & intention to learn to succeed.
The intricacies in understanding and having the 7A’s are the most
crucial for a strong foundation.
If you want to learn in-depth on building your foundation to face the real world of sales, please arrange to meet me for a coffee.
We have an easy-to-adopt proven system for you to succeed in your real estate career.
Let us share how over a cup of tea!
© 2020 Lynn Gor. All Rights Reserved.