How to obtain a Real Estate Agency License

The real estate industry is a highly profitable business sector in Singapore. If you start a real estate agency in the country and perform your daily job well, you will be able to enjoy good returns. There are certain requirements that need to be met in order obtain a real estate agency license in the country. The license is provided by the Council for Estate Agencies in the country after considering various factors. The company has to be registered in Singapore as a private firm, sole-proprietorship, or partnership company. The company should appoint one person as the Key Executive Officer and this person should not be listed as a defaulter in the country. The KEO should have completed one or the other course related to the real estate industry. Passing the course for RES Singapore or any others approved by the Council for Estate Agencies is mandatory. The KEO should not be part of any other real estate firm or should be a partner or owner of the firm. The person should also have at least 3 years of experience working with another real estate agency that has a license in the country. The person should also have completed at least 30 real estate deals in the past 3 years for a licensed real estate agency in the country.

The real estate agency must not be functioning in the country as a money-lending agency under any circumstances. The company should conduct training sessions to all the real estate agents hired. The company should also make sure that the candidates hired by the company are done in compliance with the rules stipulated by the CEA. All the candidates should have completed the authorized RES course from a CEA approved institute. The candidate should be over 21 years of age and should not be the owner or KEO of another real estate agency in the country. The real estate agent hired by the agency should also possess a Professional Indemnity Insurance with a validity of at least one year. Even though the person has completed the RES course or equivalent, the candidate should be provided with adequate trainings from time to time.

The application process for the real estate agency license can be completed without much hassle once these factors are understood. The application form has to be duly filled and submitted only by the KEO. The annual license fee would be between SGD300 and SGD3000 and this depends on the number of real estate agents working for the company. The fee for renewing the license would be SGD107 and should be paid every year.

How to be a successful real estate agent

In order to be a successful real estate agent, you need to do a lot of hard work. The real estate industry is one of the most stable industries today because of the huge demand for various types of properties. People require properties to serve their personal and business needs and hence real estate agents will be able to enjoy a steady income if they perform their daily duties in a systematic and efficient manner.

You should possess excellent communication skills. This is one of the key requirements when you choose a career in the real estate market. If you do not have the confidence of dealing with clients, you should start practicing by talking to people around you. Start off by talking to your friends and friends of friends. Gradually expand your training sessions to strangers and this will help to enhance your confidence levels. You will be able to communicate effectively with your clients and close deals only if your communication and interpersonal skills are strong.

You should take up the license course real estate with great care. You should not take the course lightly because completion of it is important in order to start working as a real estate agent in the country. You need to choose a RES course provider after doing adequate research. You should learn the daily portions covered at the institute without fail. Do not pile up all the portions for a last minute mug up because each and every portion covered in the syllabus is important for performing your duties in a prompt manner.

You should possess strong negotiation skills in order to fair well as a real estate agent in the country. This again is very important in order to perform your daily jobs well. You will be working with a real estate agency upon successful completion of the course for RES Singapore. In order to earn extra perks along with your salary, you need to close more deals every month. In order to do this, you need to polish your negotiation skills.

With these tips, you will be able to earn a good amount of returns every month working as a real estate agent in the country.

What are some real estate investing hacks and tips

The real estate market in Singapore is one of the most promising business domains. If you invest money in real estate after safe considerations, you will be able to enjoy good amounts as returns. You should keep in mind certain factors in order to enjoy the best benefits.

Calculate the amount that you can afford and consider the worst case scenarios before investing. You should consider the scenario of price dropping too before placing an investment. On majority of the situations, the real estate prices will only go up with time. However, you should consider a situation when the prices stay stable even after years of making the investment. This will help you to choose an ideal amount for the investment which will minimize the risks.

It is always better to start off with residential properties. The greatest demand would always be for residential properties. You can seek the aid of a real estate agent in the country who has completed the course in real estate from a reputed institute to choose the most favorable properties. When you choose an agent who has a good database with properties in the popular areas in the country, you will be able to select the most profitable deals.

Choose the aid of a reputed real estate company that has a proven track record. Do not go by speculations and assumptions provided by the less experienced. The reputed agencies will employ salespersons who have completed the RES course from a good institute. This will be of immense help to you in making the right selections. You will be able to invest in properties that are ideally located in the country with ease access to all major amenities. You will be able to gain profits from the investment only if the property you buy has easy access to schools, hospitals and the major parts of the country.

Networking is very important in order to take your business to great heights. Hence do not miss out on any social event happening in the country that would attract plenty of potential clients. This is equally important if you are a realtor or a RES in Singapore. Only when you meet more people, you will be able to find more profitable deals.

Does each real estate course differ depending on city?

In order to work as a real estate agent, a candidate has to complete the real estate course as stipulated by the Council for Estate Agencies in Singapore. You might have concerns regarding the use of this course this various cities and areas. The course is not quite different in different areas in the country because the rules are framed by the authorities in a national level. The rules are the same in almost all parts of the country and hence there is no specific course syllabus based on each city.

Majority of the rules related to the real estate industry are the same in all cities. However, depending on the property that is being sold or leased, the rules might differ. The rules for renting a property would be different from a lease. The rules of buying commercial properties would be different from that of residential properties. Mainly the charges, taxes and the documentation procedure regarding different properties would be different. This is not area specific. Once you take up the course, complete it, and pass the exam you will be able to work anywhere in the country with a real estate agency.

The rules would however be different in different countries. If you are buying a property in Singapore and a similar one in another country, the rules would definitely be different. This is because of the terms and rules existing in various countries. The course for real estate will also be different in different countries because of the difference in the nature of properties and other factors pertaining to it.

The real estate course is designed based on a uniform syllabus that is designed by the Council for Estate Agencies in Singapore. The RES course deals with all the laws and regulations prevailing in the country related to the real estate industry. This will also deal with different types of properties that are available in the country for personal and commercial needs. RES training is a must in the country to acquire the license required to take up a job in the industry. This is conducted by a RES course provider that is approved by the CEA and is common in all areas in the country.

How tough/easier is buying a property in Singapore

No matter in which part of world you are, buying a property is not an easy task. You need to make sure that the deal you are going to make is a legitimate one. You can do this by getting some exclusive information from your real estate agent and from the neighborhood. Thus, it is vital to get associated with a competent and reliable RES (Real Estate Salesperson).

Once an agent shortlists some of the properties and seeks your approval, you are expected to make few short trips to the site and people linked with it. These trips are meant to ensure that you get familiar with the interior and exterior of the house building and the fixtures of the prospective property. This also ensures that you are satisfied with the property details before giving your final consent. Buying an immovable property is a long time investment, and you need to be fully sure that you are making a wise decision and are happy with your deal. Thus, you should inspect the prospective property closely noting all the details and clear all your doubts with the concerned RES Singapore before finally signing the option to purchase.

Buyer’s Stamp Duty (BSD) on and after 22^nd February 2014

BSD is based on the purchase amount of market value, whichever is higher

Purchase amount or Market Value, whichever is higher	BSD Rates
For the first $180,000	BSD is 1%
For the next $180,000	BSD is 2%
Subsequent (Remainder) Amount	BSD is 3%

For example if a property is purchased at $2,000,000. And this is reflective of its market value, then the BSD is calculated as follows

• For the first $180,000 the BSD is 1% of 180,000 = $1800
• For the next $180,000 the BSD is 2% of 180,000 = $3600
• For the remaining $1,640,000 BSD is 3% of 1,640,000 = $49,200

Thus total BSD payable is $1800 + $3600 + $49,200 = $ 54, 600

As a purchaser, other than the property cost you are required to pay BSD and bear other expenditures viz. legal cost and one-time fee of the solicitor. If you are interested to take a bank loan, you should know that banks usually allow loans up to the 70% of the property price; thus, you should be ready with at least 30% equity along with other expenditures to purchase a property in Singapore.

Expats interested to buy properties in Singapore should know that foreigners can now purchase non-condominium developments of less than six levels. Additional BSD is applicable for foreigners buying property in Singapore. For buying land, landed properties, semi detached and terrace houses, foreign nationals should seek a prior approval from Singapore Land Authority.

As per prevalent norms, all new real estate salesperson in Singapore are required to pursue RES course and pass the RES exam before getting their license. This has increased the proficiency and reliability in the real estate business in Singapore in recent years.

Original Post:-  http://pioneertraining.blogspot.in/2014/10/how-tougheasier-is-buying-property-in.html

Qualities of a Good Property Agent

If you want to fair well as a property agent, you need to possess certain qualities. The job of a property agent involves a lot of traveling and meeting new people. Sound communication skills and a great flair in dealing with different types of people is a much needed quality. You will have to make sure that you understand the requirements of your clients. To do this, you should pay attention to the words spoken by your client. You should also be able to effectively communicate with the clients in order to show them the available deals. You should also polish your negotiation skills in order to close property deals for your real estate company. Different people will have different ways of dealing with the real estate agents and you need to handle it in an amicable manner.

Knowledge about the popular places is an important quality that is expect of a RES Singapore. The clients will ask plenty of questions regarding different types of properties to real estate salespersons and you need to provide valid answers without any delay. You will be able to attract clients only if you are able to provide them with plenty of options that fall within their required parameters. To do this, you need to learn about the properties in different places in the country that are available for sale or on rent. You should be aware of the popular places in the country that are suitable for commercial properties and the places that will be ideal for residential needs.

Detailed knowledge about the laws and regulations related to the real estate market is required in order to be a good property agent. You will be able to learn the required laws when you complete the license course real estate. To do this, you need to choose a RES course provider with an excellent track record. The experienced trainers at the institute will groom you well and help you understand the job requirements in detail. Once you complete the course and pass the exam you will possess all the skills that are required to work as a salesperson in the Singapore real estate market.

What should everyone know about real estate career

The real estate industry in Singapore is one of the most promising job domains that offer great remuneration. If you have adequate savings, you can invest money in the industry and earn profits in a short while. You can also earn a good amount as monthly income if you work as a real estate salesperson in the country. Being an investor in the industry is quite different from working as a real estate salesperson. Your daily duties and the working style would be entirely different. Your responsibilities and required skills will also be different.

In order to be a realtor, you need to have a good amount of money easily accessible in your bank accounts. When you come across listing in the classifieds related to the sale of a property at an attractive, you will have to buy it without much time delays. Properties will sell off easily in the country because of huge demand and hence your timely actions matter a lot in this business. When you find a buyer for the property after a while, you will be able to sell it off at a profitable rate.

If you want to work as a salesperson in this industry, you need to complete the real estate licence course conducted by the Council for Estate Agencies in the country. You will have to appear for the RES exam which consists of two papers and obtain pass marks in both in order to earn the license required for the job. You need to be careful with the selection of institute to take up the real estate course in order to clear the exam in the first shot itself.  The institute should have a good track record and a good team of faculty members. The course deals with plenty of terms and laws related to the industry and expert guidance is required in order to learn the portions. You need to be systematic with the studies in order to complete the exam successfully.

You will have to deal with different types of clients in your daily life at work when you take up the job of a salesperson with a reputed real estate agency. You will have to complete the documentation works involved in closing a property deal. You will have to show properties to your clients according to their requirements. You will have to explain about the details related to the properties in a convincing manner. You will also have to use your negotiation skills effectively in order to close deals. Completing the license course real estate will help you to do all these without much difficulty.

You need to keep your skills updated and keep your eyes and ears open in order to enjoy your career as a salesperson in the real estate industry. You should keep an updated database always in order to fair well in the job. You should be aware of the attractive areas in the country that are good for residential and commercial properties. You should also have a good knowledge about the serviced apartments and properties available on lease to meet the needs of your customers.

A career in the real estate industry is very interesting because you will be able to meet a lot of people every day and travel around the country a lot.

The key roles of real estate salesperson in Singapore

The job of a real estate salesperson in Singapore is indeed a high profile job which offers a good monthly income. If you are looking for a dream career in Singapore which is interesting as well as income generating, you should choose an RES course provider in the country as soon as possible and complete the mandatory license course. You need to understand the key roles that need to be handled by a RES Singapore on a daily basis to complete the course and pass the exam easily.

Identifying properties on sale

A good real estate salesperson should identify the properties that are available for sale in the country. You should try to build a database with a list of properties that are available at various price ranges in all the areas in the country. When an enquiry is made, you should not look around for answers. If you have all the data at your finger tips, you will be able to complete sales more efficiently.

Finding customers

You will have to find potential customers to sell the properties. You need to understand the needs of the people from time to time and come up with deals that suit them. Some of the customers would be looking for a commercial space to run their business organization and many others would want a residential plot or an apartment. You will have to take care of all sorts of property deals and to do this you need to find good customers. When an enquiry is made, make sure that you do the follow-up that is required in order to close a deal successfully.

Negotiating a deal

Some of your customers would be willing to buy an apartment or a plot if the prices were brought down a little. If you find their requirement to be genuine, you should negotiate with the property owner to come up with flexible rates to meet the need of your clients. If the customer needs a price which is practically impossible, you should use your skills to educate the client and make him or her to go for the deal. Hence, you need to polish your negotiation and convincing skills in order to be successful in the field.

Completing the documentation works

The final part of a real estate deal is the documentation works. When you choose a good provider for RES Enrolment and start with the course, you will be taught the major documentation processes involved and the laws related to the same. You should learn those portions with extra care because a minor mistake can cause a lot of trouble to your clients as well as to your employer.

All these skills are required in order to earn a good reputation as a real estate salesperson in Singapore.

Original Post:- http://pioneertraining.blogspot.in/2014/04/the-key-roles-of-real-estate.html

What property buyers look up in RES agents?

Every candidate, who steps into real estate industry aims to be a successful real estate person. Right? And if you are reading this, then that as well mean that you are working hard and need smart tips to become a successful RES agent. One of the smartest tips to be successful in real estate industry relates to clients satisfaction. Your business/career depends upon a good networking and list of happy clients. So, you have to be the agent that the seller wants to get connected with. Here are few things that sellers look for when consulting the agents to get the property of the choice.

Not opinions but skills matters

Sellers are well aware of the marketing skills of the salespersons; therefore, they have now become smarter in making selections. They do not look up for the salesperson that is capable of impressing them with good talks; they instead need to see the results & skills.

Price is secondary rather high quality is the priority

Alluring the clients based on the low fees is no more in trend today. Property buyers or sellers do not consider fees; instead, they look up for the agent who can get the most in their pocket. This you would have learned during your RES course preparation as well, but in most cases during practical situations, this aspect tends to get neglected. So be better instead of cheaper. Here, they even look up for the negotiation skills of the agent, who can make them save several dollars.

Education is important

Yes, education is another aspect that buyers & sellers generally look up for when choosing a RES in Singapore. Do not get amazed when they would ask you about your qualification or about RES Exam Singapore. With this, they get assured that they are getting associated with a professional RES in Singapore inspite of any fraud.

Original Post: – http://pioneertraining.tumblr.com/post/83608523347/real-estate-agency-industry-overview-for-res-candidates

What are the steps involved in real estate investing for the first time

The real estate market in Singapore is one of the most potential job domains in the country. This is because there is a huge demand for properties in the country. People who complete the license course real estate can easily get a job with the reputed real estate companies in the country because quite a lot of people require their services on a daily basis. Hence, you can invest your money in this domain and earn profits for sure, if you make the right moves. Here are few steps involved while investing in the real estate domain for the first time.

You need to understand the market first. You need to do a lot of research before investing money in any business and the same applies in real estate industry as well. There are plenty of places in the country that are considered as ideal residential locations. Some of the other areas are good for business establishments but not for residential purposes. You need to identify your requirements first before placing the investments. If you are planning to invest money on residential properties, you should choose an area that is away from the industrial area. You will be able to identify the best places that serve the purpose with the help of real estate agents who have completed the course in real estate from a reputed institute in the country. They will be well versed with the popular areas that are good for residential needs as well as business requirements.

You need to understand the laws and regulations related to each type of property in the country. You can seek the aid of professional who have competed the real estate course in the country to learn about the required rules and regulations. You should take into consideration the tax amounts involved when you buy different types of properties. If you are planning to invest on apartments, the tax rates would be different from that charged for commercial spaces. The difference will matter a lot when you sell off the properties later on to enjoy profits.

You need to set your limits first. You should decide on a budget first and play your cards accordingly. You should have a rough figure regarding the selling price in mind if you are planning to buy properties in the country as an investment. You should also decide on a period. With the help of professional real estate agents, you will be able to identify the best properties in the country that will fetch you profits in a short while.

Going through the journals and online portals that explain about the growth prospects of the country would be ideal if you are planning to invest a lot of money in the real estate industry. The authorities might come up with new rules and regulations often with regards to the real estate industry. This might cause a fluctuation in prices of different types of properties. You need to understand about the recent changes brought to the property laws in the country to avoid any trouble.

You should go through all these steps before investing your money in Singapore real estate industry. If you make your moves after careful analysis, you will be able to enjoy good returns.
Original Post:-  http://pioneertraining.blogspot.in/2014/10/what-are-steps-involved-in-real-estate.html