RM500 Million deal .....

 

This is a RM500 Million deal.

But it is NOT my deal 

because I did not bother to pursue it ....

Here's the story.

Almost 10 years ago, this property was being

advertized by many agents. 

Then it cooled down a bit .... 

and about 3 years ago, i see many agents

trying to market it again.

The problem with amateur agents is this

---  when they get a property that is so BIG

---  the first thing they will do is to get their

calculator and see how many MILLIONS

they will make !!

Once they get ecstatic, they will seek out the

nearest Porsche, Bentley, Lambho & Maserati 

showrooms.

BUT the stinker is this  ---   amateur agents

always do things at face value. They dont know

how to dig deeper ..... to find out more on

the property .... and do their DUE DILIGENCE.

So they start burning cash in advertising.

You see ... this property was embroiled in a 

court case back then. And there is no certainty

as to HOW the outcome will be ... and WHEN

can it be settled... and if you can EVER 

get paid the commission.

To me, I want CERTAINTY.

I want CONTROL.... and be able to DELIVER.

Since these are not available, that's why I

decided not to pursue it further ,,,,

How to close Big Deals during pandemic

The economy in Malaysia is now in

dire straits. In fact it is in total chaos,

with so much Lock-Down, Semi Lock-Down,

and various versions of the MCO or the

Movement Control Order.

The constant changes in what one CAN DO

and NOT allowed to do has created so much

hardship and uncertainties .

The Covid-19 pandemic has ruined the lives

of many real estate agents or property agents

not only in Malaysia ... but also worldwide.

This is because the physical touch makes the

difference when it comes to viewing and inspecting

a property, whether to buy or to let.

BUT when the government clamped down on

the travel restrictions, this certainly serve a

death knell for my fellow real estate agents !!

Of course, some property gurus have pivoted

to doing marketing online .... via Zoom sessions

as well as conducting Virtual Tours of the 

properties to be marketed, and using Docusign

for signing the documents.

But then again, there is only so much that one

can do online, considering that for any property

transaction to happen .... it will involve 8 parties

namely the Seller, the Buyer, the Agent, the Lawyer

the Banker and the Land Office, the Tax Department

plus the Valuation Department.

Thus if  one party is under lockdown and forced to

work-from-home, then the entire chain in the said

transaction will be jammed up !!

What's happening on the ground right now

is there are more property listings available

for sale or to let, as many owners are jobless

and retrenched, or have their salaries reduced,

and many too have to shut down their business !!

There are less property buyers in the market.

And even if they want to buy, the problem is to

get the bank loan at the margin that they want.

https://youtu.be/V8HjWxUwMKE 

Considering all these mis-matches, I have decided

to create a video that has been published in Youtube

sometime ago. Hope this video can help you in your

marketing of properties.

16 months have passed, and the Pandemic is still

ravaging with new variants coming in. Thus if you are

a property agent, I would encourage you to re-look 

into how you are going to sustain and generate income

in the months to come.