What would you be doing if you deal houses?

By AISYAH SUWARDI aisyahs@thestar.com.my

Vivahomes Realty chairman Alvin Foo

BELIEVING in the challenges and opportunities that lie in the real estate industry is what made Alvin Foo, the chairman of Vivahomes Realty opened up the business back in 2006.

“One of the things I like about the industry is the flexibility. As a real estate agent, you are not limited to working for only one real estate firm. You can choose to work for another real estate firm, focusing solely on sales and marketing aspect while still obtaining a high income from your day to day job of negotiators.

“Alternatively, they can also consider establishing their real estate agency and recruit other agents or negotiators to work under them,” said Foo.

Sharing on what a day looks like for a real estate agent, Foo mentioned that each agent might have different schedule depending on their planning.

“An agent might start their day around 9 am checking their emails and messages, and replying to the urgent ones and checking their schedule for the day. Then, they will have a meeting with the team manager to update the progress of their current cases and discuss any issues or problems.

“Around 11 am onwards, they will then update their listing, or call and scheduled for appointments before going out for their lunch or appointments depending on their daily schedule,” explained Foo.

“As some client might only be free after regular office hours, the agents need to be prepared to arrange their appointment accordingly.

“After meeting the clients, the agents still have to do their paperwork before they call it a day.

“A real estate agent is responsible for providing guidance and assisting the clients in marketing, purchasing and leasing of the property. They also need to consult the clients on market conditions, prices, mortgages, legal requirements and related matters.

“Also, an agent will also be required to perform comparative market analysis to estimate properties’ value, as well as preparing the necessary paperwork such as contracts, leases, deeds, closing statements etc.,” said Foo.

Foo said they are also required to maintain and update the listings of available properties and promote sales through advertising, open houses and listing services.

Based on his 19 years of experience as a real estate agent, Foo said the most challenging aspect of the job is to connect the right buyer to the right seller, especially with the situation of oversupply of property and the tightening of mortgage approval.

“A real estate agent also needs to comply with the industry’s regulations that are updated from time to time,” said Foo.