The 99 How-To's In Real Estate Sales by Lim Yong Hock by GMSPL Pte Ltd

The veteran real estate professional has since gone on to influence and impact the lives and careers of fellow real estate professionals. As trainer and speaker, Yong Hock is instrumental in empowering more than 10,000 Salespersons in the local and international arena.

Attention ALL REAL ESTATE SALESPERSONS!

This book will change the way you conduct your real estate business!

As a career, real estate sales offers unlimited advancement, limitless growth and countless opportunities for the enterprising individual who is out to chart his or her own frontiers of achievement. However, it is also one job that requires one to face multiple challenges and adapt to the fast-changing environment. Are you going to be among the top 20% of Real Estate Salespersons enjoying the rewards of this fantastic career, or are you going to be one of those who are struggling to stay afloat in this rapidly-evolving market? If you desire a chance to be the best of what you can be, this book is for you.

THE 99 HOW TO’s IN REAL ESTATE SALES

and improve, anyone – even total newbies – can achieve spectacular results as long as one is dedicated to a cause greater than himself.

Split into 99 different How-To’s which you can IMMEDIATELY apply into your career, this book is suitable for those of you who are:

This book is an extension of his desire to empower and educate. At the end of the day, it is not how much you make but how much you contribute towards the lives of others.

• New to the industry and don’t know where to start in this career;

Allow Lim Yong Hock to make a positive difference in your life. Allow him to share what he has learnt from the 20 years he has dedicated to the industry. Allow him to show you the 99 How-To’s In Real Estate Sales.

• Interested in having a positive mindset all the way; and

• Experienced Salespersons looking to scale new heights in your business;

HOW-TO's

REALESTATE

• Facing challenges in the new market;

• Having problems answering your clients’ objections; • Clueless about how to close the deal; • Looking to recruit and grow your own team; • Looking forward to an exciting and fulfilling career in real estate sales; • Determined to be a champion for life.

LIM YONG HOCK

Consumers will also stand to benefit, because for the very first time, it will be revealed to you what a professional Real Estate Salesperson is, the scope of his or her duties and what he or she can and should be doing for you to make your property buying, selling and renting process a smoother one.

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FROM THE KEO OF THE LARGEST REAL ESTATE COMPANY IN SINGAPORE

LIM YONG HOCK

Photography by:

Lim Yong Hock, Key Executive Officer (KEO) of PropNex Realty, the largest real estate agency in Singapore. Joining the real estate arena when he was fresh out of National Service (NS) in 1994, Yong Hock has undergone all the trials and tribulations that a Real Estate Salesperson can go through. From making nothing in the initial months to becoming one of the highest performing ones in the industry, Yong Hock has shown that with determination, hard work and the willingness to learn

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HOW-TO'S IN REAL ESTATE SALES From The KEO Of The Largest Real Estate Company In Singapore LIM YONG HOCK

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ROLOGUE

A 7-year-old boy was coming back from school one day with his mother by his side. When they both passed by a mama shop (the traditional neighbourhood convenience store run by Indians), the boy secretly took a sweet from the shop and hid it in his pocket. At home, about to do the washing, the mother discovered the unaccounted sweet in the pocket of his shorts, and gave the boy a sound thrashing by means of a merciless rattan cane. Their impoverished backgrounds meant that the boy could not have afforded the sweet on his own. She demanded to know where he had got it from. To cut the long story short, the mother insisted that the boy apologise to the shopkeeper, and return the sweet to him as well. While the shopkeeper did not mind â&#x20AC;&#x201C; the boy was just a lad after all â&#x20AC;&#x201C; the mother was adamant. For that, I have to thank my mother. The values

of honesty and integrity were taught to me by this resilient woman who – despite a life of trials and tribulations – has insisted that I grow up to be an upright person that I have been born to be. From her, I learnt to always be willing to admit when and what I have done wrong, and where required, come up with the necessary restitutions to make things right. An 11-year-old boy was at Ang Mo Kio Bus Interchange, hawking wares together with his father – an illegal practice then and now. They were both on the lookout for law enforcement officers, while shouting for the attention of passers-by and negotiating prices with customers. For that, I have to thank my father. At the tender age of 11, I had first-hand exposure to what salesmanship was all about. Hawking $2 to $3 items to total strangers soon taught me how to sell anything to anyone, a singular skill that would benefit me for life. Why am I saying all these? I am saying all these because I now believe that God works

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in mysterious ways. And while I couldn’t see it then, I can see it now. Never would I know that the skills I acquired at Ang Mo Kio Bus Interchange would one day lead me to the greatest and most fulfilling profession of real estate sales. And never would I know that the values of honesty and integrity so deeply ingrained in me would lead me to a company that prizes honesty and integrity above everything else. PropNex Realty – Singapore’s largest homegrown real estate agency – is only where it is today because of its overarching emphasis on honesty and integrity. Hi, I am Lim Yong Hock, Key Executive Officer (KEO) of PropNex Realty – Singapore’s largest real estate agency. The publication of this book marks my 20th year in the real estate industry. But rather than just being a memoir that details all the events that I have encountered over the years, this book is meant to be an inspirational guide for those of you who are just starting out, and those who have been in this for a while but are looking for a breakthrough in this fulfilling career that you have chosen. iv

Swearing in ceremony as KEO of PropNex in 2012.

It is also for consumers, who want a deeper and clearer understanding of what real estate sales is all about, and how you can go about creating wealth through this most wonderful asset you can acquire for yourself in Singapore. Success of any kind is usually a blend of ability, opportunity and the synergistic amalgamation of individuals with similar values. I am fortunate to have run into events, experiences and people that have helped me understand how it is important to learn, unlearn and relearn those lessons that will help us develop and grow. This book is a consolidation of those lessons, but

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they can be yours too. And since success leaves clues, there is no need for you to reinvent the wheel. This book can be a road map for you to navigate the wondrous but sometimes undulating terrain of real estate. And while there might be challenges and sometimes uncertainty, let me reassure you that real estate is one of the best, most fulfilling and tremendously rewarding careers that you can ever hope to take on. With that, I shall begin my sharing.

First Published: May 2014 Published by: Lim Yong Hock Email: yonghock@propnex.com ISBN 978-981-09-0422-7 Copyright © 2014 Lim Yong Hock Publication Consultant: RedWordTree Pte Ltd (www.redwordtree.com) Typeset and Cover Design by: RedWordTree Pte Ltd (www.redwordtree.com) Editing by RedWordTree Pte Ltd (www.redwordtree.com) All Rights Reserved. No part of this publication may be reproduced or copied in any form by any means – graphic, electronic or mechanical, including photocopying, recording, taping or information retrieval systems – without written permission of the author. Conditions of Sale: This book is sold subject to the condition that it shall not, by way of trade or otherwise, be lent, resold, hired out or otherwise circulated without the publisher’s prior consent in any form of binding or cover other than that in which it is published and without a similar condition including this condition being imposed on the subsequent publisher. Disclaimer: While every reasonable care has been taken to ensure the accuracy of information printed, no responsibility can be accepted for any loss or inconvenience caused by any error or omission. The ideas, suggestions, general principles, examples and other information presented here are for reference and educational purposes only. This book is not in any way intended to give investment advice or recommendations to buy, sell, or lease properties or for any form of property investment. The author and publisher shall have no liability for any loss or expense whatsoever relating to investment decisions made by the reader. Printed In Singapore

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CCOLADES

“For way too many years, too many people have believed that good Real Estate Salespersons are born and not made. What Yong Hock has shown in this book is that ANYONE, with the right mindset and skills, can achieve excellence in their real estate career.” Rayney Wong Lawyer, Nation Law LLC Property Investor & Author of National Best-selling Book ‘Secrets of Property Millionaires’

“I have known Yong Hock for many years. He’s a man of integrity and a big heart. Most importantly, he is willing to share his knowledge with anyone who is willing to learn. His generosity and sincerity are clear for everyone to see and these qualities are apparent in what he has written in this book. This is a must-read for anyone who is serious about his real estate career.” Alfred Chia, CEO, SingCapital Pte Ltd Author of ‘Mortgage and Grow Rich’ and ‘Grow Rich, Singapore Style’

“Yong Hock is a forward-looking leader and pioneer in harnessing technology for efficiency and productivity in the real estate industry. As a Founding Member and leader of the Singapore Real Estate Exchange (SRX), the industry can count on him to provide guidance and new ideas in integrating real estate workflow with the latest information technologies. His work has had a tremendous impact on the development of the Singapore property market. He is the consummate professional.” Jeremy Lee Co-Founder & CTO The StreetSine Technology Group

“An engaging, insightful book written from the heart. Yong Hock shows that through sheer determination, hard work, humility and focus, anyone can be successful – regardless of their circumstances. Highly recommended reading for any budding entrepreneurs and new real estate agents!” Steve Melhuish CEO & Co-Founder PropertyGuru Group

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“It is amazing how a reader can simply take one of the how-to’s in this book and apply it into his/her life or career.” Wong Woon Hong Senior Producer / Presenter Consultant – Creative Services UFM 100.3

Yong Hock with Wen Hong and Li Mei, DJs of UFM100.3.

“I have known Yong Hock for a while. He is humble, pragmatic and absolutely honest in his interactions with other people. And like how he is in person, this book is easy to understand, and answers the most critical questions that most would not have thought about. Reading about his story, I can see how his earlier experiences in Yong Hock with Liang Peng, the real estate industry have been DJ of Capital 95.8FM. instrumental in shaping him into the success he is today. And like the passionate and proactive man he still is, Yong Hock has been able to surmount all odds to become the man we see today. This book isn’t just about facilitating property transactions. It is the book that will guide you to success not just in your real estate career, but life as well. Liang Peng Executive Producer-Presenter MediaCorp Capital 95.8FM

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CKNOWLEDGEMENTS I would like to thank my dad, my mum, my brother, my sister-in-law, my wife and my three children; these are the people who have stood by me all my life.

It didnâ&#x20AC;&#x2122;t matter to them whether I was down and out, or whether I had achieved anything significant. Instead, even My family. at the lowest points of my life, they have held the faith, believing in me and trusting that I would one day be greater and better than what I could even possibly believe for myself. To that, I am eternally grateful and I can truly say that without them, I would not be half the person I am today. And finally, to my two friends, Lee Lin Cher and Lui Natasha Amanda, who helped me clarify and define my ideas for this book. x

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OREWORD

The real estate sales profession is probably one of the most misunderstood careers you can find in the world. To those outside of the industry, the mention of Real Estate Salespersons conjures up images of fat commissions, luxury cars and the freedom to live life the way you want it; totally ignoring the fact that it is a trade that requires one to work hard, think hard and to be always willing to learn and improve. And like any other profession or business, the top 20% of the real estate industry will earn the top dollars, while the rest are either surviving or barely scraping by. Thus, while it is true that it is possible to earn a comfortable living in real estate sales, the truth remains: only the best will make it. What then separates the winners from the rest? The answer lies in the willingness to learn, unlearn and relearn what is necessary to thrive in an industry that is always evolving and changing. When Yong Hock first mooted the idea of writing a book to educate Real Estate Salespersons about

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the skill sets needed for them to excel in their jobs, I was both happy and elated. As Singaporeâ&#x20AC;&#x2122;s largest real estate agency, we see it as our mission to inspire, empower and educate the industry about ethical entrepreneurship, as well as equipping Real Estate Salespersons with the information and knowledge that will help them navigate the changing real estate landscape. And this book was born. I have known Yong Hock since 1998. Having come from the very same humble beginnings like him, I can attest to his spirit of perseverance, the neversay-die attitude and an insight that can only be brought about by the school of hard knocks. As my Key Executive Officer (KEO), I have seen how he is capable of taking on a challenge head-on, while remaining selfless in his willingness to teach and making a difference in the lives of others. And above all, his passion for real estate and real estate training is unmistakable. The 99 How-Toâ&#x20AC;&#x2122;s that you are going to be introduced to are a compilation of the many lessons that Yong Hock has personally undergone, as well as the many other predecessors that have entered xii

the industry before you. Some of these lessons have been derived by observing the successes of those before you, but most of them have been the lessons learnt from the painful mistakes that those before you have made. You donâ&#x20AC;&#x2122;t have to reinvent the wheel. There is no need to undergo senseless pain when a man like Yong Hock is willing to teach you the ropes of the trade. Thus, whether you are just starting out in the industry, or whether you have been around for a while, this book can be the guide to your success in the real estate arena. With that, allow me to leave you in the good hands of Mr Lim Yong Hock, KEO, PropNex Realty.

Ismail Gafoor CEO PropNex Realty Pte Ltd The Largest Real Estate Agency in Singapore

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VENTURING

To achieve what we want in life, we must constantly keep our goals in mind as well as engage our loved ones such that they can support us in our quest to succeed.

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If you do remember my story from the earlier part of the book, I made the mistake of not telling my family about what I was doing when I first started in real estate. This undoubtedly caused a lot of worry in my mother, who was puzzled as to why I was working all day and night and not bringing in a single cent.

HOW TO SET ACHIEVABLE GOALS

If I had the chance to start all over again, I would let her know the exact scope of my job, why I chose this career, and to get her support in my venture, no matter how tough the journey was going to get. We need to be motivated from within, but we also need our loved ones to encourage and push us on.

What Is Your Desired Outcome? A lot of people set goals based on what they THINK

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they want to achieve. To maintain clarity in the goal-setting process, it would be helpful to take a leaf out of Stephen Covey’s book, ‘The 7 Habits Of Highly Effective People’. In the second of the 7 habits, Covey talked about how you should begin with the end in mind. What do you want to achieve at the end of it all? What is your end result? What do you want your desired outcome to be? Because what you want at the very end will determine the steps that you will take to achieve it. Many people think that setting goals is just like making a wish at a wishing well. Unfortunately, it will take more commitment from you to make things happen. So instead of wishing, hoping and praying that your goals will come true, you will need to: • Write them down; and • Verbalise them frequently. It is almost like what the monks did in the olden times. They will visualise a mandala in their minds, and they will chant a mantra to reinforce the image 43

(mandala) in their minds. In the same way, you will need to think about your goals, and you will need to talk about them frequently such that the image stays strong in your mind.

What Kind Of Goals Should You Set? As a Real Estate Salesperson, the goals that you are going to set will fit into one of the following three categories: Type Of Goals What They Are Income How much you would like to achieve financially Rewards What you would like to buy for yourself and your loved ones Activity The activities you must complete on a daily basis Goals are dreams with a deadline. To ensure that the goals you are setting arenâ&#x20AC;&#x2122;t just an exercise in daydreaming, you will need to make sure that everything that you are writing down contains elements of SMART. Setting SMART goals ensures that your desired outcomes are defined clearly from the beginning, and that every action step

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taken to achieve these goals can be tracked. For goals to be SMART, they have to be: S Specific M Measurable A Attainable R Realistic T Time Specific Like the following activity planning sheet, where the activities for achieving your goals are clearly listed down, with targets, a system of monitoring and a timeline for their fulfilment: No

Activity

Farming Letterbox

Farming Door to Door

Caveat Purchase

Direct Mailing

Cold Calling

Telemarketing

Target

Wk1 Wk2 Wk3

Wk4

Wk5

Wk6

Wk7 Wk8

Activity

Outdoor Canvassing

Road Show

Open House

Presentation

Serve Buyers/ Tenants

Listings

Closings

Sales

Target

Wk1 Wk2 Wk3

Wk4

Wk5

Wk6

Wk7 Wk8

What Should You Do After Setting The Goals? As a rule, goals should NEVER be set and forgotten. Instead, you should always keep them at the forefront of your mind. How do you do that? The best way is to print out your goals and to paste them everywhere so that you can be reminded of your goals every moment of the day. By everywhere, I mean: â&#x20AC;˘ Behind the toilet door

What better time to think about your goals other

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than the time when you are most “relaxed”? • On the wall next to the main door Before you step out of the house, remind yourself one more time about what you have set out to achieve in your real estate career. • On the ceiling facing your bed So that you can remind yourself of your goals even before you fall asleep, or the moment you wake up.

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The toughest part of any journey is the beginning, and this rule holds true even in your real estate career.

Like many of you who are starting out in this industry, I also did not have the benefit HOW TO of a fat bank account when I SURVIVE A first began. I only had $3,000 DIFFICULT in my savings account, a sum BEGINNING that was not going to last me very long if I was counting on it for BOTH my personal and business expenses. 47

Fortunately for me, I was able to take on a parttime job as a tuition teacher, where I was earning anything from $500 to $700 a month; the flexibility of being a tutor allowed me time to continue doing real estate-related work. As someone who has gone through the pain, I can totally understand how your first few steps in the property industry can get difficult. To help you tide through this potentially tough phase, here are some suggestions that you might want to adopt to make your first few days as a Real Estate Salesperson easier: â&#x20AC;˘ Embrace the High Effort, Low Cost (HELC) concept

You have to manage your costs effectively so that you do not exhaust all your resources. For example, instead of hiring someone to distribute your flyers, why not do it yourself? This will take more time and effort, and you will wear out many pairs of shoes. But trust me: going D-I-Y on this is not only much cheaper, you will also realise the added benefit of slimming down and becoming fitter. Howâ&#x20AC;&#x2122;s that for adopting the HELC way?

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• Adopt strict discipline and regimentation The initial days of your real estate career can be scary and intimidating. More often than not, your mind will start wandering, playing up all those fears and uncertainties that will derail your fledgling career. Instead of allowing your mind to do what it wants, why not keep yourself busy with more productive activities so that you do not have too much time to think of the “other” things? By adopting strict discipline and regimentation, your results will manifest faster. • Go public

There is no need for you to buy a car for your real estate career, especially if you are just starting out. Not only is the cost of vehicle ownership really high, there are other miscellaneous costs such as Electronic Road Pricing (ERP), car parking charges and fines if you break traffic rules. Even for those of you who already have a car, it will be good if you can take public transport whenever possible.

Singapore, even as a small country, is blessed with a superb infrastructure and public

transportation network. The integrated bus and rail system makes for easy convenience, and capitalising on this efficient network will definitely help you cut down and manage your transportation expenses better. â&#x20AC;˘ Work on your immediate vicinity or somewhere close by

Imagine this: you are staying at Pasir Ris but you have chosen Jurong West as your Geographical Target Area (GTA). Whenever there is a viewing to be done, you have to leave your home 1 Â˝ hours beforehand, since the MRT ride from Pasir Ris to Boon Lay would already take you about 58 minutes, as according to the SMRT website. Coupled with the fact that you need to take a feeder bus from your home to the Pasir Ris MRT station, you either need to leave early, or take a taxi.

Of course, it will be easier if you drive, but even that is inefficient.

The example that I have given you is extreme, but it illustrates my point. Instead of having to contend with excessive travel time and costs,

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it will be easier if you choose an area that is convenient and easily accessible to you as your GTA. An example would be the immediate neighbourhood where you live in. Viewing can literally be the next block, and farming can be accomplished on foot. And since travelling time and costs have been minimised, you can conserve your energy and financial resources to activities that can better benefit your real estate career. • Start with rental transactions

Many newbies in real estate go in with the idea of a “big kill”. They dream of multi-million dollar deals which will pay them a hefty commission upon closing, not realising that multi-million dollar deals take many months to close, and many more months for the commissions to be paid.

While it is important to dream big – that is why you became a Real Estate Salesperson after all – it is equally important for you to ensure that you survive the “start-up” phase of your career. As such, rather than gunning and hoping for that very big deal from the very beginning, why

not start with rental transactions? Rental transactions pay fast money, and they are cash cows that can help ensure that your expenses are covered. So go for it! â&#x20AC;˘ Allocate your time clearly

As Real Estate Salespersons, you are technically your own boss. You are not accountable to anyone, as what you choose to do or not to do will have a direct impact on your results. Your newfound freedom as a Real Estate Salesperson comes with a whole lot of responsibility, and to make sure that you donâ&#x20AC;&#x2122;t waste your time, it is best that you organise your day in the following segments: Segment

Time From To 09:00 am 12:00 pm

Weekday Morning Weekday 02:00 pm Afternoon

05:00 pm

Weekday Evening

06:00 pm

08:59 pm

Weekday Night (optional)

09:00 pm 12:00 am

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Activity Preparation and Prospecting Telemarketing / Viewing / Appointments Prospecting / Telemarketing / Door-Knocking Flyer Distribution / Flyer Preparation

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Saturday / 01:00 pm Sunday

06:00 pm

Open House

As you go through the day, always bear in mind the following questions: • What will I close today? • What will I close tomorrow? • What will I close next week? And when someone asks you “Any closing?”, you should always answer “Tonight!”

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HOW TO CHOOSE THE RIGHT MARKET TO STARTYOUR CAREER 53

Like the old saying goes, “Failure to plan is planning to fail.” Many new entrants into the real estate industry like to see what others are doing and jump into the bandwagon like them. While it is not wrong to do so – since activity levels are the best indicator of the potential of an area – many of these “recruits” fail to prepare themselves, putting their newfound career at risk.

So how do you prepare yourself and choose the right market to start your career? You prepare yourself by asking the following five WH questions: • Where? Where is it that you want to comb? Which estate, district or projects do you want to cover? • What type of transaction? You need to be clear in this category. Are you focusing on sales, or are you going to be focusing on rental? • How to start?

Do you want to adopt the High Effort, Low Cost (HELC) approach or the High Cost, Low Effort (HCLE) approach?

• What to do? What are the things you would like to do? Is it high labour activities like door-knocking, telemarketing or roadshow? Or high cost

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activities like sending out flyers, mailers, or advertising in the newspapers? • How much do you have and how much are you going to spend? It is important to evaluate the amount of financial resources you have at hand. Some have bigger budgets, while others will have to make do with smaller ones.

Those with bigger budgets can spend thousands or even tens of thousands of dollars to kickstart their business. Despite this, it is important to remember, that with any business, effective cost-management is your top priority.

As such, before you even spend your hardearned savings on jump-starting your real estate business, ask yourself sincerely: “How much do I have?” and “How much will I spend to kick-start this business?” I once had a trainee who revealed that he had printed 30,000 flyers. When I asked him where he intended to distribute the flyers, he replied that he wanted to drop them in Marine Parade. After I showed him the HDB report on township 55

populations and number of flats, it dawned on him that there were only 6,500 households in his target area. If he were to only distribute to the HDB flats within the area, it would take him five rounds of distribution to use up all his flyers. Such a situation could have been avoided if he had prepared himself more thoroughly before he jumped in to spend money on printing. Thus, to prepare yourself better, use the following checklist: Checklist To Choose The Right Market S/No 1 2 3 4 5

Questions

Answer

Where do you want to cover? What type of transaction do Sales / Rental you want to focus on? How do you want to start? HELC /HCLE What activities do you want to engage in? How much do you have and $________ / $________ how much do you want to spend?

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HOW TO BUILD AN EFFECTIVE TEAM

As the leader of a team, you need to find the right people to fill certain vital roles: • The Team-Builder This person is responsible for creating an environment for others to be able to collaborate and work as a team. Someone who is good at bringing people together.

• The Problem-Solver/Problem Preventer Once a solution to a problem has been found, this person is responsible for creating systems and procedures to minimise and solve problems, so that all the members in the group can solve the same issue successfully. • The Expert/Supplier If the team needs resources, information, or equipment, this person is the one to call. This member needs to search for and keep contacts to other suppliers as needed. 163

• The Coordinator/Liaison

As other members contribute their expertise, this member ensures that everyone on the team gets the same messages and information. This member is also responsible for organising the resources and the people so that the team’s goals can be met effectively.

• The Facilitator

This member makes it easy for other members to do their work with little interference. But this doesn’t mean this member does nothing. Rather, this member keeps an account of all past issues and problems, and is able to pull out the right resources should the need arise.

• The Coach

Easily the most experienced member of the team, this person must also be ready to support, teach, and direct the team or individual members to take action.

In most cases of newly-formed teams, you as the leader will be taking on all of these roles. However, as your team grows, there will be greater need on

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your end to delegate more of these roles away, in order that you can focus on the more important things regarding strategic direction and plans.

What Determines The Survivability Of The Team There are 4 stages that a team will undergo in its growth, and whether it is going to thrive over time depends very much on its ability to adapt to each stage of growth. Borrowing the concept from the book, ‘Built To Last’ by Jim Collins and Jerry Porras, these 4 stages of team development are: • Forming; • Storming; • Norming; and • Performing. The distinct characteristics that mark the team in each stage of development are illustrated in the following figure.

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2. Storm

4. Perform

• A few members are starting to lead, but there is oneway communication. • Members look out for themselves first, and are impatient with the lack of progress.

• There is high productivity, a clear mission, goal, roles and expectations. • All team members are involved and there is an understanding of each other's strengths and weaknesses.

1. Form

3. Norm

• Members are new, unsure, and there is concern over who is to lead. • There is little real communication and people explore boundaries.

• More cooperative, agreeable, there is an emphasis on the team, procedures and working together. • Members start to show more concern and trust, respect and harmony.

As you select the members to take on different roles, and they get to know each other better, you bring the team from stage 1 to 2. How do you take your team from stage 2 to 4? You do so by: • Adapting • Solving • Initiating • Assessing

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Adapt to all changes, be aware of them. Solve problems and make decisions as soon as possible. Initiate team activities, and circulate information. And assess all current knowledge and skills, and constantly work to improve them. Lastly, work to brand the team to create a sense of oneness. Doing this together as a team will bring you from start-up to success sooner than you think. How To Build An Effective Team Checklist S/N Area Of Assessment Answer 1 Which stage is your team in? Form / Storm / Norm / Perform 2 Adapt: Is your team aware of changes to the Y/N market, and actively adapting to them? 3 Solve: Is your team united in solving problems Y/N as efficiently as possible, and making decisions quickly? 4 Initiate: Is your team organising frequent and Y/N regular activities, whether to share, inform, or bond as a team? 5 Assess: Is your team constantly working to Y/N improve on their knowledge and skills and sharing that knowledge? 6 Branding: Does the team have a strong brand, Y/N and do the members of the team recognise that branding? 7 What else can the team improve on?

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Progressing

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All of us need a boost of motivation every now and then, and in a down market, it is all the more important to keep ourselves UP than to allow ourselves to sink DOWN.

HOWTO#

HOW TO MOTIVATE YOURSELF EVERY DAY EVEN WHEN THE MARKET IS DOWN

As a trainer, I have come across many ways and means that any individual can use to motivate himself. Some of these methods are logical, while others hinge on the

more dramatic. What I am going to propose here, however, is neither logical nor dramatic. Instead, the focus is on tasks, on things that can be executed. So instead of asking questions as to how you can get motivated today, ask yourself: â&#x20AC;˘ What can I close today? â&#x20AC;˘ What can I close tomorrow?

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CHAPTER 3

THE HOW-TO’S

• What can I close this week? • What can I close this month? • What can I do to close today, tomorrow, this week, this month? • How can I do it better? How much more should I do? When we focus on the task, energy is directed into activities that can bring about positive outcomes. When you focus on motivating yourself, however, you get involved in excessive inner dialogue that can sometimes put you on a downward spiral. Thus, when you are busily looking out for and closing deals, you won’t have to think about whether you are motivated since you are already on the move, and chances are, you won’t even have the energy to think about whether you are motivated or not. There is no need to either, so just focus on pumping up your activities.

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Empowering Consumers

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CHAPTER 3

THE HOW-TOâ&#x20AC;&#x2122;S

HOWTO#

HOW TO GROW RICH THROUGH PROPERTY

First of all, I would like to clarify from the beginning that growing rich through real estate has got nothing to do with having lots of money to put up an upfront investment in property.

It is an expensive lesson that I have learnt, and I hope that nobody else would repeat the painful mistake that I made.

Start Young, Start Early You see, like many ordinary Singaporeans, I thought that I needed a lot of money to start my real estate investment journey. Thus, I put off my investment decision till it was too late, not knowing that this country presents a unique opportunity for all Singaporeans to own a piece of property that they can call home. Unlike a friend of mine, who was just an average employee in the engineering field. Starting with a Build To Order (BTO) flat, he quickly 329

upgraded to a bigger flat after the Minimum Occupation Period (MOP) was met, making a small profit in the process. After that, he went on to purchase an old condominium unit in his second upgrade, which was sold in an en bloc sale in less than three years. With another $600K in hand, he moved into a landed property, once again settling for an old landed property and spending minimal sums renovating the property. When the property appreciated, he sold it off again, and once again upgraded to a bigger landed property. The bigger landed property was eventually sold off, making him a hefty profit of $1.0 million. Today, he is living in an old apartment within the River Valley area, with over $1.0 million in hand, a job and a very comfortable standard of living with his family. Through a series of calculated steps, my friend has achieved a level of wealth that so many have been unable to achieve, all because he started young, and started early.

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Attention ALL REAL ESTATE SALESPERSONS!

This book will change the way you conduct your real estate business!

THE 99 HOW TO’s IN REAL ESTATE SALES

and improve, anyone – even total newbies – can achieve spectacular results as long as one is dedicated to a cause greater than himself.

Split into 99 different How-To’s which you can IMMEDIATELY apply into your career, this book is suitable for those of you who are:

This book is an extension of his desire to empower and educate. At the end of the day, it is not how much you make but how much you contribute towards the lives of others.

• New to the industry and don’t know where to start in this career;

• Interested in having a positive mindset all the way; and

• Experienced Salespersons looking to scale new heights in your business;

HOW-TO's

REALESTATE

• Facing challenges in the new market;

LIM YONG HOCK

THE

SALES

FROM THE KEO OF THE LARGEST REAL ESTATE COMPANY IN SINGAPORE

LIM YONG HOCK

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