sad news ahead, change of work may be an impact due to property slowdown/burst

Real estate agents JUMP SHIP as property market sinks

Survival instincts kick in as sluggish property market takes its time reviving

Faced with a tepid property market, Mr Nicholas Chia, 28, decided to go from selling houses to shining cars.

An estate agent since 2010, he decided to "jump ship" in the first quarter of this year, setting up car-grooming business Doorstep Detailer as well as a franchise of a pre-school enrichment centre.

"Because of the slow market, I need something to supplement my income and something in which I can tap the network I've made," he said.

Car-polishing was a natural choice: "Almost every property agent has a car, and image is important when they meet clients."

In today's sluggish property market, more agents are letting their licences lapse or trying their hand at other jobs, according to anecdotal reports.

Housing Board resale deals hit a record low of 18,100 last year. There were just 12,683 deals in the first nine months of this year, putting 2014 on track for a new low.

Private property deals this year barely hit 10,000 as of September, a number that was about the average of each quarter in 2012.

On top of more agents leaving, there is also less new blood entering the industry. According to the Council for Estate Agencies' annual report last week, there were 3,061 new registered sales professionals in the last financial year, down from 4,289 the year before.

Agents say the exodus began last year, but really gained momentum this year.

Some part-time agents have returned to their day jobs, said Dennis Wee Realty agent Priscilla Pang, who is still in the business.

Full-time agents simply took their skills elsewhere. Active PropNex agent Remus Koek said: "They are mostly still in sales, but different types of sales."

Dennis Wee Realty agent Aaron Lin said he has seen older agents turn to multi-level marketing or driving a taxi.

Alternative jobs beckon in the food and beverage as well as spa industries. Agents are also turning to forex trading, holding investment seminars and even setting up economy rice stalls.

A 41-year-old agent who wanted to be known only as Mr Ong returned to his previous field of engineering. "I'm not seasoned enough to weather the current lull," he said.

Another agent, who wished to be known as Ms Xie, 27, stopped actively advertising around April, a year after she got her licence.

"Ideally I would have continued my activities in real estate but it just wasn't viable."

Besides the slow market making it tough to close deals, the new Personal Data Protection Act has made it harder to get clients, she said. Potential leads must be checked, for a fee, against the Do Not Call list of people refusing unsolicited marketing requests.

Still, she has renewed her licence for next year - just in case.

Indeed, some agents are biding their time, noted Mr Michael Long, key executive officer of Spacez Real Estate. They have told their agencies they would let their licences lapse on the understanding they can return in 2016.

Property experts expect transaction figures to start recovering by the end of next year. -ST

Full article: http://www.malaysia-chronicle.com/index.ph...3#ixzz3HUX8Fz1o
Follow us: @MsiaChronicle on Twitter

2015 is a good year... even agency firms are giving up due to the bull run theory has over ( but still enjoy 5-10%). let see how it goes.

more fraud on property detected as agents has not enough sales target to meet, resulting deposit cheating and collecting

Fake property agent cheats victims of RM454,000

http://www.thesundaily.my/news/1201469

more sad news on social impact

Woman Cons 18 Of RM544,000 In Housing Scam

http://www.malaysiandigest.com/news/523595...using-scam.html

agents also jump ship due to low transaction, but under table mark up... still going on resulting price increase, how to buy now... social impact is no body buys

bro TS, u busy ah today? less activity one

it is speculation, everything which is heavily speculated will need to find it way back to its normal growth, property is one of it nad we live in Malai (just hope you don't forget)

think big and dun think average, means heavy debt indeed..you are not within any ultra class neither rich category..

This post has been edited by bearbearwong: Nov 4 2014, 09:58 PM

dun forget how long can one service, and dun forget too, how long one's credit get stuck, servicing for years also mean no savings , many plans also halted too..

the investment is game over already... bargain for own stay only... if ppl really have accepted, transaction should be going up before GST as well after GST, before GST would score higher..

the stagnant price cant hold off for long, investors need to cash out

dun lie to us Midfield 2 can be sold 700k above, harping less profit like One south shows this is fail investment...

discount 10-20% , not 5-10%, that could well be the expected profit at stake

600k subsales only.. cant afford to drop 10 to 20%.. later jolokia will count for you..

Jolokia midfields 2 selling 600k from ori price looks like one south commenet bit for bro jliew

Meaning bubble happening not in ong area like
semenyih
kajang
bangi
rawang
Cheras south
seri kembangan
puchong south
putrajaya
Sepang

Actually if you think bubble happen only ong area and discussion only happen in ong area.. then you are on your own.. from tye start DDD has mention bubble were highly possible in outskirt area..

I assume you will not reply to the statement in full

[quote=jolokia,Nov 5 2014, 08:43 AM]
As long as you have income you can afford to service loan right ? Anyway loan have period one mah can borrow indefinitely ? cannot right ? what do mean credit got stuck ? the long you pay the less you hutang bank mah.

of course there are terms TS.. credit locked means you borrowing power is now locked with invested.. cant invest others

I already told you don't borrow till the nose mah didn't i ? now you know my advise to you to use 1/3 income or less for housing loan ? 1/3 for expenses, 1/3 for saving 1/3 for household debt loh, you mean you wanna hantam till pocket kosong end of the month ah, don't hoh Bear2 later you kena repo by your own college oh very malu leh.

Of course I know to cover my own back.. no need to worry.. as discussed.. you are sure the buyers will utilise their 1/3 nett to buy the mass supplies in d market within 400k to 800k section.. oh ya trolling Ts will say properties are for rich in MALAI

Anyway it depend on individual mah, some people sibeh lucky got rich support like PAMA, Relatives, Sibling, Rich Spouse, Sungar Daddy/Mummy then they can hantam everything loh, some not so lucky got heavy family burden then hantam less loh, like you getting married soon can't be hantam 70% income balance 30% yourself also not enough lah, ask wife to pay all family expenses meh, like that she will cabut lah,,

actually you know the concern is not about some group of ppl rather the majority of class which are being targeted for 400k to 800k section.. 20 cen investors will tink you crazy to have target rich for this.

Another one illogical is you also have properties.. are you in the rich class too or any soon

Investment game are very much alive lah, just speculation may be not so lucrative like those days in term of percentage, but money value may still be there, those day many 200 & 300 tokens can sell 400 - 500 tokens upon VP, now is like 400 - 500 tokens can earn 500 - 650 tokens loh. still sibeh good compare to other investment like share can untung can rugi, this is like sure untung but how much untung only.

means property confirm untung ah? Check within kv any fail projects

Bear2 transaction already going up lah, the previous already shows people rush in to buy before GST, you didn't read or selective reading again ? Secondary some owner know price will UUU after GSt they keep lah, like i ask you if you have properties you know price will go up in next few month, would you stewpit enough to sell now or not ? so transaction down doesn't only mean people don't buy cound be people don't wanna sell also mah.. correct ??

ya meh.. you say up only izzit.. agency investors say very down sentiment wor.. law firms too recorded low transaction.. where again high transaction? New launch with freebies izzit

if good still waste time here for wat.. buy more.. green residence 2 towers unsold waitingvyou and list of completed units like OUG..one south

That why loh i tell you now price not yet stagnant is still growing but at slower phase, could be people not willing to sell also they can wait, only is price drop kao2 only mean people cannot hold, don;t forget hoh even sell to you now laso consider huge profit already.

You like to mentioned One South thats 100K profit from you if you buy now, as its a zero entry DIBS & owner only pay few months installment but can gained 33% profit, you know any other investment with that kind of return ah ?

sold already or not... 100k gross profit.. RPGT belum kira

Some investor not even interest to cash out as they treat property as fixed deposit, they rather keep property compare to cash, as cash will shrink over inflation, property is a safe bet to counter inflation even with 5-10% increase yearly.

Izzit hold? Cost free hold? Maintenance free hold? Holding but same time see many yellow banners for sale and many ad for sale?

But even assume what you say is true..not bad too their prop after super speculation.. enjoying 5 to 10 % increment means more expensive.. new launch coming.. credit lock too

Since there are no firesales, could you shre with us why new launches have so many unsold units? like OUG parklane? one south?

you are not helping green residence at all 2 unsold towers...

not to mention subsales, you can check with Amaya maluri units, 1 year mark still with depressing occupancy, your friend hold 2 units till no car loan if you remember, banker lai de, max stretch

why still spend time in bubble talk, since it wont happen, cant happen , and etc (according to your good selves) save sometime and buy more units around ya..

U no comment one on Midfields 2, probable selling price, someone want to sell 600k but hope to sell 700k..

do some of your one south calculation, bro midfields 2 need your enlightenment..

is it a good investment/bad investment ( provided it has been sold)

come on, whoe midfields 2 many owners, you one owners bising, coz based on 600k selling price but hoping 700k price, this is another project with reduced profit compared to others..

like bro showtime say

superbull 30% per annum

example, few years ago he like to use, 300k

so 30% p.a of 300k =90k pa

so 3 years = 90k x 3= 270k (3 years)

so plus 300k +270k = 570k

now superbull run is over, small bull still running (5-10%) pa [according to bro showtime)

so after superbull/speculation, small bull still running

so , after superbull, 570k,

5-10% from 570k = around (30k to 60k ) p.a

so 3 years after superbull 3x (30k to 60k) = 90k to 180k for 3 years

and the list goes on according to them,

so 10 years after 9according to briliant small bun run)

10 x (30k to 60k) = 300k to 600k

(300k to 600k) + 570k (superbull run efect) = 870k to 1.170 million

870k to 1.170 million, doable or not? after 10 years of VP?

few years ago =superbull (30%), this is due to demand
now superbull no more , left with bull ( 5-10%), this is also due to demand

both are motivated by demands, right? so has demand come down? there cannot be anyomore superbull run series after this... question is (even with 5-10% also not sustainable demand)...

got different than few years back or not? of course, demands losing up... mere wish to earn property, this is what trend? UUU? BBB?

can some list out married couple which prefer studio and speech like this in LYN?

Krandun -
hmm
hmm

with losing of demands, means price cannot sustain already, superbull run has ended, now small bull run seems unsustainable also, where is the heading of property direction? since demand is losing? if you apply Jolokia reasoning, just hantam new launch, but sadly even new launch are suffering slow down with good package, subsales how?

no agents dare to comment? how come transaction low price still up?

those who are holding expensive chips like bro Midfields 2 are one of the nice example...

name us the new launches which cannot finihs selling at this point... any of these happening in the past (bro showtime era)

that is a drastic drop isn't..

why do i need to feel stupid, since drastic drop will around the corner, really waiting for drastic drop? you need to service a lot of loans before reaching it..

you keep saying property in Malaysian will not bubble, but you keep spending time here commenting and not buying more properties out there..