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In the words of Bill Gates, "We're changing the world with technology," – and that seems to be Tech Real Estate's goal.
The real estate agency's vision is to build a tech-savvy culture within their circle to achieve greater success. As Terence Tih puts it, "It is part of our concept that allows our real estate negotiators to work smarter, not harder."
Meet Terence Tih, a talent recognised for achieving the most rental transactions at the StarProperty.my Real Estate Awards in 2018. Read on for details on how his career took him to the next level of his life.
How long have you been in the real estate industry?
It has been an amazing 10 years.
How did you first get started?
I was brought into this industry by a friend.
What is Tech Real Estate?
Tech Real Estate is a place where I grow and learn. I didn’t get much support back then in my previous agency, and of course, I could not get many transactions closed back then. However, after a detailed explanation on how this industry would lead me to success – and also an impressive preview of my “future” by the founder of the agency, Mr Alex Lee – I then decided that my career path should start with Tech Real Estate (TRE).
I guess I had made the best decision in my life; since then, I have made significant improvements in my closing rates and after the first year of joining TRE, my career took me to the next level.
With nearly a decade of experience in the real estate industry, what do you think are your main advantages when engaging with clients?
Being aware and knowledgeable in the happenings of the industry. I strongly believe in repeated clients if you give them the facts and correct information. My priority might not always be in closing a case, but more towards sharing knowledge in this industry with my prospective clients.
You've earned awards for the Most Transacted Rentals in 2017 and 2018. What is your secret for acquiring such high volumes of transactions?
A lot of my clients are my repeated clients. They engaged my services once, and they were convinced. I guess the title does come with some sacrifices along the way. I have worked more than 10 hours a day, 7-days a week; pulling through obstacles and challenges. However, it was worth all the effort as I am rewarded with victory.
As a team leader, can you share how you manage a team and how you cope with crises?
The answer is to lead, to mentor, and to provide team members with true leadership. Gain their respect and you will manage your team well. There’s no crisis a true leader can’t solve if you learn to identify the main issues and provide the right solutions.
Do you have any predictions for the property market in 2019?
A "prediction" basically means a market assumption – and I've stopped making assumptions since many years back; I learned to be more practical by facing my daily goals and pursuing career advancement.
A lot of my counterparts are predicting 2019 to be a year of crisis for the real estate industry; I beg to differ. I have confidence, and I have my mind set vividly on how I will be playing this game. And should the industry take a bad turn in 2019, I have set my own goals and career trajectory. My path is clear. I want to be reminded always, that I had my great career breakthrough many years back – at the very same point when the real estate industry took a bad turn.
Are developers showing more interest in helping buyers with financing their purchases in 2019?
The answer is yes. In recent months; developers have been putting on their thinking caps, constantly coming out with innovative, creative, and attractive packages.
What strategies are the developers using to help buyers purchase their properties?
Developers are emphasising more affordable packages, concept homes, and lifestyle living by providing their potential purchasers “zero hassle” packages – for example, the ‘just walk-in with your luggage’ idea.
What were your challenges in 2018 and how did you overcome them?
I can’t express my challenges in 2018 with mere words here, but I can honestly say I overcome them with the right mindset, determination, and the willpower to succeed.
Do you have any advice for first time home buyers?
Buy what you can afford, not what you need. Make sure you are financially comfortable in your loan commitment.