Working as a property agent is one of the most appealing jobs because every day is different. Property agents meet new people, travel to new areas, and adapt to the changing demands of buyers and property owners, which often necessitates last-minute changes.
The hours are long, the market may be frightening at times, and you may also have to deal with some awkward people. But, the best part is you will get to make some really happy customers, tour and sell some incredible houses, and work in an industry where hard effort truly pays off.
The Property Market in Kuala Lumpur (KL) Is Booming
Across the first quarter of 2021(Q1 2021), the property market did not perform well. National Property Information Centre (NAPIC) stated the overall median asking price per square foot (psf) decreased by 1.79% year on year (YoY), while overall supply increased by 15.85%.
Similarly, Kuala Lumpur (KL) experienced falling prices, with median asking prices psf falling 5.00% YoY in Q1 2021. Since it began to fall into negative territory in Q1 2019, this is the greatest annual reduction in median asking prices.
Nonetheless, consumer mood is now projected to rise. Transactional activity is likely to progressively build up in the coming quarter, in line with general economic activity and improving perceptions on the job and financial stability.
Improved economic conditions due to the increase in COVID-19 vaccinations have resulted in a more stable property industry after a long wait. In the third quarter of 2021 (Q3 2021), all significant markets are showing an upward price trend, creating a favourable environment.
Meanwhile, Taman Desa Petaling in Desa Petaling experienced a 7.29% QoQ increase in median asking price psf, Bandar Sri Manjalara in Bandar Manjalara saw a 4.88% QoQ increase, and Bandar Tun Razak in Cheras saw a 4.81% QoQ increase.
Last but not least, the addition of more affordable housing options through government-led initiatives is helping to revive interest in KL. New developments that continue to command good prices such as Mont Kiara, Sri Hartamas, and Bangsar are playing their part too.
There Are Opportunities for Career Growth
While working as a property agent is one of the most prevalent careers in the property market, it is far from the only one. Yes, the majority of high-profile property employment options include buying and selling residential properties.
However, the profession is diverse, and a real estate agent license can lead to a variety of other opportunities. Whether you desire more flexibility, more structure, larger stakes, or lower stakes, you will almost certainly be able to find it in the property agent career growth.
Property Agent for Commercial Building
When you think of the property sector, you probably think of residential property agents. Commercial development, on the other hand, can be just as rewarding as residential development, and in some situations may even suit your style and strengths better.
A commercial property agent’s day-to-day activities may entail more research than a residential property agent’s. A commercial property agent assists businesses in selecting and securing locations that will increase their profits.
Hence, commercial property agents must typically place a greater emphasis on gathering statistics and data about the area before closing a transaction.
Managing RENs in Property Sector
Being a Real Estate agent (REA) is not the same as being a Real Estate Negotiator (REN). A REA differs from a REN in that a REA is a registered real estate agent who has completed the Diploma in Estate Agency and is qualified to manage a property agency with many RENs.
If you are in the process of becoming a REN and want to know how you may further your profession, a REA might be a good option.
Investor in Property Industry
Property investing can be done in two ways: actively or passively.
An active investor is akin to a traditional home flipper. This individual would either buy and resell residential properties or assist another investor or business that is buying a property for resale.
A passive investor is someone who invests in property but does not participate in the day-to-day operation of the project. You can become a crowdfunded property investor even if you do not have a lot of money to invest.
The Job is Challenging but Also Very Rewarding
There is no doubt that being a property agent is a challenging job. You have to be able to juggle multiple tasks at once, stay up to date with the latest market trends, and be able to build strong relationships with clients.
But despite the challenges, being a property agent can also be very rewarding. You get to help people find their dream home, you get to see your hard work pay off when a property sells quickly, and you get to experience all the different neighbourhoods in Kuala Lumpur (KL).
If you are looking to make an earning from properties sales Commission then it is best that this is your career choice. Property agents can earn an average of RM4,000 to RM30,000 monthly depending on how many sales or rentals they do each month.
For example, imagine that you are selling property in KL which costs RM1,000,000. If we take no notice of all taxes including the Sales and Service Tax (SST) then our calculated income would be around RM30,000.
In this case, it is not just a question of how much a property agent can earn but also if they have the right skills and knowledge to succeed.
Be Successful as a Property Agent In Kuala Lumpur
A career as a property agent may be perfect for you if you are fine with these facts and appreciate hard work, are a self-starter, and like the concept of setting your own hours. You can make a very comfortable living if you sell enough houses.
The property market in Kuala Lumpur (KL) is booming and there are plenty of opportunities to make a good income. With hard work and dedication, you can be successful as a property agent in KL.
Are you ready to take the plunge? Register with IQI Elite Legacy today and get started on your new career!