What it takes to become a dealer of houses

IQI Global group vice president Dave Chong

By AISYAH SUWARDI aisyahs@thestar.com.my

With the initial intention of only making a side income, IQI Global group vice president Dave Chong did not expect how different his life has turned out after becoming a real estate agent.

He said his interest to become an agent started when he was searching for ways to diversify his income portfolio after earning profit from his bird’s nest business.

“I started getting interested in properties when I made profits with my bird nest trading business and was looking for the right kind of investment.

“After researching about the property market, I was thinking to myself, why don’t I try to help other people by sharing my understanding and skills with them and make some pocket money while I am at it?” said Chong.

Acknowledging that real estate agent is not an easy career choice, Chong shared on one of the unforgettable experiences that he had during his first days as an agent.

“Back in 2014 when I first joined in, within two weeks of working, I was about to close five deals which paid RM10,000 in commission for each transaction. But at the end of the month, all of the said deals were cancelled due to various reasons such as failed loan application, among others.

“Although I was upset by the situation, I took the optimistic approach where I told myself that for every one deal I drop, I will close two more. So eventually, by the end of that year, I managed close a lot more deals than the ones that were cancelled.

“This is an experience that I will always reflect upon now and then, which reminds me never to give up and always remain optimistic and positive,” added Chong.

Chong then explained the career ladder usually works for a real estate agent.

“When you first start as a negotiator, you would need hit a particular target, and form a team, from which comes the opportunity where you can become a team leader. Of course, as a team leader, you would receive a particular incentive for your team, and if your team performs well, you will be rewarded as well.

“Then, if your team has expanded, you will become the team manager, this then progresses according to your performance where you would have the chance to be promoted to become the vice president of the company depending on your performance,” shared Chong.

Sharing on his career progression and how it has changed him for the better, Chong elaborated further.

“As I have mentioned earlier, I joined the company in 2014 as a negotiator; then in 2015, I become the team leader. Last year I became a team manager and this year, I became a group vice president for the company.

“Putting the financial gains aside, personally I think, the most exciting part of the job is that over time, along with the career progression, you can develop a lot of different skill sets. You would also learn different things you start to become a team leader, as you get to build on your leadership skills, improving on public speaking, and personal relationship management skills.

“Your emotional intelligence (EQ) would also increase overall, so even if you eventually decide to leave the company, or even go into another field, you would still do well,” he said.

As an experienced real estate negotiator, Chong thinks that one of the most significant challenges currently faced by the industry is overcoming the market perception.

“Recently news has been going around saying that property prices are too high and that the public can’t afford it. So the market has become soft and cautious due to this perception, and this is where we as the agent need to overcome this adversity and convince our clients.

“Because as far as we know, it is just the perception considering property prices in Malaysia is still relatively cheaper compared to Hong Kong and other South East Asia countries,” shared Chong.

He then advised aspiring young people who might be interested in joining the industry or are still unclear about their career path to consider becoming a real estate agent.

“Although it is true that you can make a lot of money in this profession compared to being a full-time employee, the personal development is the differentiating factor that makes the job worth it.

“Not only you get to gain and acquire a different set of skills, but you will also gain knowledge in few fields such as property, finances, economy and psychology.

“On top of that, people who want to buy property are usually those with money, and normally are of high social status or income. This is where you can take the chance to engage with them and develop your networking skills as well,” said Chong.