Staying Ahead in Changing Times by Huttons’ Mark Yip

Going from developer to real estate agency, Mark Yip joined Huttons Group as its CEO in November 2020 and led the group into becoming 1 of the 3 biggest real estate agencies in Singapore based on salesforce.

With his 360-degree industry perspectives, PropertyGuru is delighted to have him share his career story and advice for young leaders and agents drawing lessons from the pandemic.

Empowering Your People for Success

Having come from 4 different industries (Logistics, Land Transport, Retail & Fashion and most recently Real Estate), Mark believes the formula for success lies not in the nature of the industry but in the people that drive it.

“Real estate is a people-focused business where an agency is unable to function and excel without agents. This means that in a real estate agency, we must be service oriented and be able to cater to and support our agents in every business decision we make.”

Being a people person, Mark takes passion in making a difference and impact. His philosophy of driving success at Huttons is to support agents wholeheartedly with the resources they need to do their job and close their deals effectively.

Teamwork Breeds Success

As Mark progressed to a real estate agency and become a leader, he emphasized on the power of teamwork rather than a one-man show.

“I always believe that one swallow does not make a summer. A person is only as strong as one. But with a team, this one-man multiples into many men and together we can definitely achieve more.”

Mark feels grateful to have met his 8 Executive Group District Directors (EGDDs), namely Gary, Jay, Kevin, Mary, Peggy, Rex, Stuart and William. Together with his HODs, he believes in being consultative and makes decisions collectively as a team, where everyone is given an equal share of voice to drive the business forward.

Positive Market Demand Fuelled by the Pandemic 

Ever since the pandemic, people are now spending more time at home than ever, with work and leisure all happening within the same space.

With this new norm, Mark sees an opportunity where more dedicated spaces for work and leisure are being sought after for owner-occupied properties, especially in the Rest of Central Region (RCR) and Outside Central Region (OCR). Singaporeans are also adapting to the pandemic as families are upgrading to larger spaces to accommodate all family members despite higher price expectations.

“This pandemic has made people become aware of the spaces they lack in their homes. Home is not just a place to go back to after work for resting anymore. Agents should take more care in homeowners’ concerns when recommending a unit which is best suited to their needs.”

Despite the cooling measures, he remains optimistic as buyers with a need for larger homes would continue to upgrade, with their decision being based on a longer-term view. Those who are worried by the delay in completion would also purchase homes that are ready within the year, such as projects like The Gazania and The Jovell are likely to see an increase in sales.

Meanwhile, demand by foreign investors in real estate remains positive thanks to the effective handling of COVID in Singapore. Even with the cooling measures, he believes that the stable economy, property prices in central Singapore are still affordable and would continue to attract foreign investors, despite the recent tax changes.

Staying Ahead with Digital Upskilling

When asked about future industry climate, Mark encourages agents to be open and receptive, as rapid adoption of digital solutions will soon power the real estate industry.

“There is less interaction between agents and their clients nowadays, shifting to virtual meetings for appointments. It is important to assess and learn what works best and constantly upgrade your skillsets to current so that you are always ahead of the curve.”

With productivity tools and digital training programmes being the key focus for Huttons in 2022, he urges agents to embrace technology as digital tools have become so important in today’s world. He believes that if agents can advocate discipline and use their time wisely in self-learning and upgrading their digital skillsets, it will help them to move ahead with the times and keep up with the industry.

PropertyGuru would like to thank Mark for sharing his advice with much passion and wisdom. Best wishes to Mark and Huttons Group in achieving greater success!

Being a better partner for you,
PropertyGuru Team