Nicholas Choo on a career in real estate and being a young team leader

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Nicholas Choo seemingly came out from nowhere before earning the lofty title of “Honourable Negotiator” at the recent StarProperty.my Real Estate Awards in 2018, so we dove into an interview with this deceptively young-looking real estate negotiator to elicit his thoughts on a career in real estate and the challenges of the Malaysian property industry.

nicholas_choo


Can you tell us more about yourself?

My name is Nicholas Choo. I am a senior real estate negotiator and one of many team leaders at IQI Realty. I am currently leading a team of 100 negotiators.

Beyond the real estate industry, young team leaders like Nicholas Choo are relatively uncommon – most people would imagine the kind of personality required to manage a team of 100 individuals would be necessarily more grizzled, and perhaps even humourless. But this fresh-faced senior real estate negotiator and team leader displays a degree of enthusiasm that belies his extensive experience in property.


How long have you been working as a real estate negotiator?

It has been 8 years since I started working in the real estate industry. Since the first day, there have been many new things I learned and many new experiences I had to go through in this industry.

Being a real estate negotiator is unlike most other jobs – there are countless journeys to far-flung properties around the country, often with little to no guarantee of completed transactions – remaining in the job for as long as Nicholas has speaks of a surprising level of commitment.


How did your involvement in real estate begin?  

I decided to join the real estate industry because I found that the property market was still going strong and I was certain that I would be able to make a decent profit from being involved in property.

As with many others who observed the spike in housing prices between 2006 and 2008, and anticipated further increases beyond 2010, Nicholas felt compelled to get on the property bandwagon before it went skyward – and the fact that he is still sticking with real estate suggests an anticipation of another rise in property prices in the coming years.

The trajectory of average housing prices across Malaysia, between 2000 and 2018. Source: National Property Information Centre (NAPIC)

The trajectory of average housing prices across Malaysia, between 2000 and 2018. Source: National Property Information Centre (NAPIC)


What has inspired you to pursue a career in real estate?

Many things can be listed, but the primary points should definitely be highlighted – flexible working hours and the possibility of unlimited income have inspired me to pursue a career in the real estate industry.


In your opinion, what qualities do you believe make for an excellent real estate agent?

To be an excellent real estate agent, one needs to have several values – such as integrity, a penchant for hard work, enthusiasm, and being fully committed to the job. Integrity is especially essential in building trust with clients.


What was your biggest achievement throughout this career?

I would say joining IQI Realty has been one of my biggest achievements throughout my career in the real estate industry.

Given the many awards and accolades that IQI Realty has collected over the years, and the agency having recently earned the title of “All-Star Agency” at the 2018 StarProperty.my Real Estate Awards, Nicholas seems completely justified in qualifying his joining IQI as his greatest achievement (at least so far).


What is the secret to your agency’s success and how can it be so successful in the market?

Great culture is the main reason for my agency’s success. IQI Global has provided many incentives, overseas trips, good projects, and fast commissions.


What was the biggest challenge that you have faced throughout your involvement in the real estate industry and how did you overcome it?

The biggest challenge that I have faced is cash flow. I managed to  overcome this problem with the help of IQI, which has provided 7-day fast commissions.

The issue of cash-flow is common among most real estate agencies – their challenge is one of adequately compensating and rewarding negotiators for their efforts while remaining solvent enough to maintain offices around the country. Through thoughtful incentive programs that guarantee negotiators rapid commission payments, IQI Realty has managed to retain top-performing sales talent while meeting the organisation’s own commitments as a business.


What are your obligations as a team leader?

As a team leader, my obligations are to help potential team members achieve their six-figure incomes every year.

As is the case with Nicholas’ own beginning in the real estate industry, the team he oversees is composed of young individuals who are drawn to the relatively high potential earnings as a professional real estate negotiator – but in the “gig economy” the challenge for Nicholas is ensuring that there are enough opportunities to go around and that the commissions are consistent for all of his team members.


What do you find most rewarding about being a real estate agent?

The most rewarding thing about being a real estate agent is that I get to learn and gain new knowledge every single day.

There are many unseen nuances to the Malaysian property market – different regions present unique challenges and opportunities – and even after almost a decade in the industry, there are differences that still inspire negotiators like Nicholas Choo to remain receptive to new knowledge.


In your opinion, what are the factors that influence the rise in house price in Klang Valley?

The main factor that influenced the rise in house price in Klang Valley is the housing material price itself.

Nicholas echoes a familiar view of the apparent housing dilemma faced by prospective first-time home buyers in Malaysia – one that implies that price is the most fundamental of barriers to homeownership. In his opinion, developers should not be faulted for local housing prices – it is more a matter of global trade and a function of the globalised economy that renders construction materials more expensive than they used to be in past decades.


As a team leader in IQI, what makes IQI to stand out from the rest?

My team has always been the greatest factor in my path to success. By surrounding myself with energetic and positive people, I am in turn, more motivated and inspired.


What kind of advice would you give to someone who’s new to the real estate industry?

Maintain discipline and the ability to remain focused, it also helps to have an extensive knowledge in your field of work.


What would you want to achieve the most in 2019?

To lead a total of 200 active agents in my team.


Join us on Facebook and look out for Nicholas Choo’s next big win at the StarProperty.my Real Estate Awards in 2019.

Want to contribute articles to StarProperty.my? Email: editor@starproperty.my
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