Contributed by Alan Poon
It seems like it was just yesterday that we were celebrating the Lunar New Year of the Earth Dog without realising that we are already in the last month of first quarter in 2018.
For the past few weeks, I’ve had the opportunity to attend numerous Chinese New Year Open House invitations hosted by various media platforms, trade associations, prominent figures and organisations in the Malaysian business landscape and real estate arena.
Throughout these networking sessions, one common question is consistently asked about the sector, which is: “Is it a good time to buy a property?”
It is almost a certainty that many would have the point of view that the market is pretty slow despite whatever I ought to say to them.
While I’d love to be outright rebut their questions, I suspect most of those who’ve had this thought on their minds would use the issue mainly as an icebreaker or pretty much echoing the sentiments highlighted by the media these days.
Another realisation that I’ve come across is that it seems that many are adopting the wait-and-see-attitude before they make any ‘move’ in today’s market. Hence the straightforward question, “Should I buy a property?”.
As a real estate practitioner, often I think to myself that it is often a missed opportunity because according to well-known investment maestro, Warren Buffett: “Be fearful when everyone is greedy, Be greedy when everyone is fearful”.
Many would like to stay on the fence when it comes to investing in the market and it is almost common practice that investors and buyers alike to become increasingly prudent each time there is a market correction that is happening.
Such predicaments is one of the reasons why I’ve kept myself in the industry and put in more effort to educate the market because there would always be opportunities abound in every cycle of the property market.
Even more so when the market appears to be quiet or less attractive to the masses. One has to be aware of the hidden opportunities around us. This is due to the fact that transactions are low does not mean that no one is buying or selling.
Finding the right type of product that suits your financial objectives is of the utmost importance, mainly when one is focused on building wealth through properties.
As for agents, during uncertain times, an aspect that they can focus on and upskill is the art of negotiation, because it would positively affect your career in the long run. But hunt, you must.
Henceforth, it is important to ready yourself with the right knowledge to buy properties and you shall eventually come out a triumphant! Never follow advice without doing proper research.
With that being said, I do enjoy the many luncheon invitations to meet and gauge the market sentiments whenever I introduce myself being a real estate practitioner because it gives an understanding of what people feel about the market.
Till next time, let’s ‘Borak Real Estate’!
About the contributors
Alan Poon
Alan Poon, founder and CEO of SuperiorWealth Group, is a passionate Real Estate industry observer as he regularly speaks and appeared in major media publication nationwide. Alan is the author of 3 “Good Tenant Great Tenant” series books and recognized by The Malaysia Book of Records as “The First Author to Launch Three Books Simultaneously”. Alan welcomes feedbacks and can be contacted via alanpoon@superiorwealthmastery.com.
Do visit www.superiorwealthgroup.com for more info.
Disclaimer
All data and information provided on this site are for informational purposes only. Starproperty.my makes no representations as to the accuracy, correctness, completeness, currentness, suitability, or validity of any information on this site and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. All users are strongly encouraged to seek professional advice before relying on any data and/or information provided on this site.
