The real estate industry is a vast and complex sector that requires a deep understanding of market trends, data analysis, and the ability to adapt to change. For many real estate agents, success often hinges on their ability to stay up to date with the latest developments and to use this knowledge to provide the best possible service to their clients.
We are pleased to feature Justin Chong from Century 21, where he shares the importance of data and technology to succeed in the real estate business.
Justin started from a different path compared to most agents in Singapore. He studied real estate at NUS in 2016, and his experience has given him a unique perspective of the industry. “I’m exposed to the entire real estate supply chain all the way from the acquisition of land, development to sale & purchase and even maintenance. We also do urban planning as part of the course.”
He wanted to study Master of Urban Planning, but an opportunity came in 2018 when he was attending a module on market data. He had veteran real estate broker Ku Swee Yong as his lecturer and Justin was then invited to work at his brokerage during the summer break.
“He shaped my entire perspective of the real estate business, where he taught me to consider the age, life stage, family planning of clients when pitching a deal. I was supposed to get my license after I graduated in 2020 but I went to sit for RES (Real Estate Salespersons) exam in late 2018 and passed in January 2019. Then I started as a part-time agent while continuing my studies.” Over the years, he has worked with clients from all walks of life, helping them to navigate the complex world of real estate transactions.
Keeping Informed with Data and Current Affairs
While serving clients looking for properties in Bukit Panjang, Justin does not only focus on the same district. He has ventured out to understand the demand and supply island wide, and now he can proudly share that he is well-versed across several districts like Bedok, Sengkang, Serangoon, and Ang Mo Kio.
Through his work, Justin has come to understand the importance of staying informed about the latest trends and developments in the market. “There are over 30,000 agents in Singapore. If every agent comes knocking on your door and say I can help you to sell and buy, how do you differentiate yourself from others? Besides the usual transaction, I take a consultative approach with a heavy emphasis on one’s family or personal planning, where I ask clients difficult questions regarding their outlook on career prospects and help them minimally do a 5-year projection. That requires a large amount of research and applied knowledge, so I can advise my clients with useful insights.”
For Justin, keeping up with the latest news and data is not just a matter of personal interest but a professional obligation. Whether it is tracking what’s going to affect the latest interest rates, analysing demographic data, or monitoring changes in zoning regulations, Justin is always on the lookout for the latest information that can help his clients make informed decisions.
Staying Relevant and Ahead with Proptech
However, Justin does not feel contented to simply rely on knowledge and experience. He understands that the world of real estate is constantly evolving, and that staying ahead of the curve requires a willingness to embrace innovative technologies. This is why he is increasingly interested in the world of Proptech. From virtual reality tours to the power of the blockchain, Proptech is revolutionising the way that people buy, sell, and rent properties. For Justin, this represents an exciting new frontier in the world of real estate where agents ought to be well-versed in, if they plan to stay in the industry for the next 10 to 20 years.
He is also an active user of PropertyGuru and often provides his feedback by participating in our user research. Besides, he is always eager to try out the value-added tools that PropertyGuru offers, such as Featured Agent, Market Insights and the latest Ratings and Reviews to improve his service and professionalism. As he sees it, Proptech has the potential to completely transform the industry, making it more efficient, transparent, and accessible for everyone. By harnessing the power of data and technology, real estate agents can provide more personalised services to their clients and stay ahead of the competition in an increasingly crowded market.
For Justin, the key to success in the world of Proptech is not just about embracing modern technologies but about understanding how they fit within the broader context of the real estate industry. This means staying informed about current affairs, keeping up with regulatory changes, and understanding the complex dynamics of the market.
Shaping the Future of Singapore’s Real Estate
In recent years, the Singapore government has implemented several cooling measures to rein in the property market and prevent a housing bubble. These measures include additional buyer’s stamp duty (ABSD), loan-to-value (LTV) limits, and seller’s stamp duty (SSD) for properties sold within a certain period.
While these measures might’ve dampened demand and slow down the property market, they have also created challenges for agents. Despite that, Justin remains optimistic about the future of Proptech and the real estate industry. He believes that by combining a deep understanding of data and technology with a commitment to providing personalised services to his clients, he can help shape the future of the industry in a positive way.
He encourages industry peers to embrace new technologies, so they can constantly stay ahead of the curve and changing circumstances and provide the best possible service to their clients.
PropertyGuru would like to express our heartfelt appreciation to Justin for sharing his valuable advice with such enthusiasm. We wish him all the best as he pursues even greater accomplishments!
This content is brought to you by Partner360, and we look forward to bringing you more value-added insights that can help your business.
At PropertyGuru, we’ll see you home. 😊