Last Updated on 2022-11-12 , 3:42 pm
A study shows that property agents still command some of the highest-income jobs in Singapore, despite challenging market conditions.
Now, before you actually start to evaluate a new career path or even consider about making a career switch, we’re talking about the top-performing property agents here, who are said to earn 66% more than the average Singaporean.
This is according to the latest statistics released by ERA Realty Network where the median gross monthly commission earned by their top 300 property agents reached $11,686 in 2015 as compared to the nation’s full-time employees, where their median gross monthly income averaged at $3,949 in the same year.
However, it should be noted that not all these comes purely by luck. One should not think that property agents are easily millionaires. Just like other professions, hard work and dedication are required.
28-year-old Kavin Kuah, who currently earns a median monthly gross commission of about $120,000 only joined ERA in 2012, and he said: “Real estate is a good career path if you are someone who looks forward to a no-ceiling income. There are always opportunities around; it’s all about commitment, passion and perseverance”.
Of course, not everyone can become the top performer like Kuah, and some of them would go on to realise that they can’t commit in this ever challenging market and hence, quit. During ERA’s October-to-December licence renewal period in 2015, the agency’s agent pool dropped by 6.6 % to 5,947 agents.
The truth is, there is no actual benchmark of how much a property agent can earn, with many factors to be taken into consideration – including the condition of the property market, government statutes, and self-motivation, since earnings are purely commission-based from sales and rentals.
Also, people working in this service-oriented industry will know the amount of competition they have to beat in order to stand out–many times by going the extra mile to serve clients in the most sincere and most unique way possible, in order to secure a deal.
Besides, any amount of money spent on marketing to promote one’s services will almost always have to come out of their own pockets. So it’s pretty much like an investment, really. Kudos to those top-performers in this industry, it seems like a lot of work and they deserve the recognition (and money).
At the end of the day, I’d say it really depends on your hunger for sales. If you are willing to handle highly volatile wages and commit some initial investment, your time, and your soul to evaluate your strategies and compete under challenging market conditions, go ahead and consider about taking the career path of a property agent.
Otherwise, you can be like me, sitting here imagining myself travelling around the world with half of what those top performers are earning every month.
Top Image: wavebreakmedia / Shutterstock.com
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