By VIKTOR CHONG
viktor@mystar.com.my

Soma speaks at the ASEAN Real Estate Network Alliance 2017

KUALA LUMPUR: The level of service you provide is equal to the level of income received, said Property Hub Sdn Bhd associate director Soma Sundram at the ASEAN Real Estate Network Alliance 2017.

According to Soma, most real estate agents made the mistake of assuming that they are selling properties.

“Those properties do not belong to us. We as agents sell services to our clients. And as a professional, it’s all about the level of service that we are here to offer,” said Soma at the three-day event.

He also addressed the issue of agents when attempting to close the deal.“What happens when we are dealing with a tough client who wants to pay us a 2% commission fee?” said Soma.

Soma stressed that a skilled agent should be confident enough to back away if the deal isn’t fair.

“We need to know the right words to say to our clients. It is normal that clients will bring up excuses that they are receiving lower fees from the other agents,” he said.

“By the end of the day, as leaders, we should be able to walk our talk. If the deal is disadvantageous, we should be prepared to back off.

"Inform the client politely that you will not be taking up the deal, and tell them to call you back if they change their mind,” he said.

However, Soma also advised caution. “If the listing is one that is easy to sell, then maybe we should accept the 2% commission. The amount of listing under the client should also be considered. It’s all about the experience to know when to take or to back off.”

Soma rationalized that it requires real skill to make sales in the secondary market as compared to the project market, whereby the agents only need to bring in the crowd.

“You can’t become a successful real estate agent by just depending on project marketing. When the developers no longer need you, the agency will be in trouble.

"That is why we have a balanced combination of the project market team and the secondary market team,” he said.

“In terms of marketing, we should position ourselves strategically with our own personal branding,” said Soma.

Pointing out that the name card of a real estate agent should always have a picture, Soma stated that this will allow people to remember the individual better.He likened it to an advertisement for a sales property.

“Take note that the advertisements for our listings focus less on the words and more on the photo of the property.

“From a marketing perspective, It is also advisable that the agency targets a specific geographical area and population to serve in. With that in motion, the agency should be able to develop a branding image with the people in the target location.

"This focus allows the agency to have intimate knowledge about events that are occurring in that area,” said Soma.

He concluded by pointing out the importance of networking among agencies.