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\nERA agents Jeffrey Heng and Elaine Chia have only been working as a team for a few years, but have already closed around 80 deals together.\u00a0
\nPropertyGuru sat down with two couples to talk about why they went into the real estate business together, and what is their recipe for success.\u00a0
\nBy Romesh Navaratnarajah<\/p>\n
More real estate agents in Singapore are choosing to leave the industry amidst the current downturn in the property market, according to recent figures released by the Council for Estate Agencies (CEA).
\nThe number of registered agents dropped by about three percent from 29,262 at the start of 2016 to 28,397 this year.
\nWhile some agents have moved on to what they hope are greener pastures, others are not giving up so easily. In fact, a growing number of couples who also happen to be agents are starting to work together, using their combined strengths to boost sales.
\nFrom friends to lovers
\nMarcus and Cecilia Luah first met back in 2005 while they were working at a retail outlet, and quickly became friends. They lost touch with each other over the years until they met again in 2012. After two years of dating, they married in 2014.
\nMarcus, who now works as a property agent with PropNex Realty, decided to go into business with Cecilia in late 2015, as she was well-organised and meticulous.
\nWhile he runs his team of 280 agents, she handles the sales, arrangements and paperwork. The couple, who have no kids, would only reveal that they closed some sales and rental deals together last year.
\n\u201cWe work hard, set common goals that we want to achieve, and go for frequent holidays to get away from work and spend quality time together. (As a team), we believe that we can be more efficient and have more control over our time, especially for travelling,\u201d said Marcus.
\nHe added: \u201cLearning to successfully work together has not only increased our combined income by more than 50 percent in 2016, but also improved our relationship as husband and wife.\u201d
\nMaintaining trust and honesty\u00a0
\nAnother husband-and-wife team, Jeffrey Heng and Elaine Chia of ERA Realty Network, first met in 2004 and quickly fell in love.
\n\u201cWhat attracted us to each other was that we were very honest, and openly shared our experiences and what was on our minds. With this, our understanding of each other grew very quickly,\u201d said Jeffrey.
\nThe couple, who have been married for more than a decade, have a seven-year-old daughter. However, they have only been working together for slightly more than two years, a decision they feel was the best solution for a work-life balance.
\nSaid Jeffrey: \u201cAs our client base got bigger, we figured that we would become busier with our own activities and would have less time for each other. So we decided to join forces and this has resulted in more time spent together.\u201d
\nTheir strength as a team comes from the fact that they have different life experiences, and this helps to put them in the shoes of their clients. \u201cThere are cases where one client went through something that I could not fully understand, but Elaine went through something similar and could advise them better,\u201d said Jeffrey.
\nWorking out differences\u00a0
\nBut the couple admit that their working relationship hasn\u2019t always been easy. One major issue has been the handling of different opinions.
\n\u201cWe\u2019ve had our fair share of squabbles, but we knew this would not be beneficial to ourselves or to our clients, so we sat down and talked about it, and agreed that every difference in opinion would be discussed objectively,\u201d shared Jeffrey.
\nAlthough this may seem like a simple solution, the couple explained that it took a lot of effort and has brought the two of them closer together. Their business is also doing very well. To date, they have closed around 80 deals together.
\nAs a result, the couple prefers not to separate their work and private life. \u201cWe believe that if we treat our clients as friends and this business as part of our lives, the passion for the business will not fade,\u201d said Jeffrey.
\nIn fact, they sometimes bring their daughter out for lunches and dinners with clients. \u201cBy including her in such activities, we hope that she will grow up to have the same character traits as us,\u201d noted Jeffrey.
\nWith so much success, it isn\u2019t surprising that they plan to continue working together for the foreseeable future. \u201cWe are very happy with our current working arrangement, and the testimonials from our clients are an affirmation that we are doing something right. Also, we like having more time to see each other,\u201d said Jeffrey.
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\nMarcus and Cecilia Luah of PropNex Realty are successful in both their professional and personal lives.
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\nFollow this advice\u00a0
\nWhen asked what advice he has for couples looking to work together, he said: \u201cFirst of all, they should look at setting certain working principles for the business. When there are differences of opinion, it is always good to look back at those working principles and set yourselves on the right path again. This will reduce a lot of unnecessary arguments.\u201d
\nHe noted that professionalism is important too, and they try not to let arguments at home or unhappiness at work affect the other.
\n\u201cElaine and I also have a common understanding that we will not let any unhappiness flow over to the next day,\u201d said Jeffrey.
\nAs for PropNex\u2019s Marcus, he feels that every successful business is built on love, which \u201ccomes before the money\u201d.
\n\u201cTherefore, always remember to have mutual respect and encouragement for one another. Never take things personally, and remember that the main priority is the well-being of the family,\u201d he said.
\nFor now, they too don\u2019t see any reason for working separately. Instead, the couple has ambitious plans to grow their business.
\nDevelop self-mastery\u00a0
\nCindy Leong, Founder and Relationship Coach at the Relationship Studio, feels that couples can work well together, but it comes down to their self-mastery level, and whether they have a strong sense of awareness.
\nFor instance, they need to work on their issues and insecurities first before going into business together. As such, emotional maturity is key to a successful partnership.
\n\u201cSome couples jump into business too quickly and that is when the situation gets complicated,\u201d she told PropertyGuru. \u201cIf they did not deal with their issues earlier, it could resurface again.
\n\u201cCouples who have worked through their differences for years, or have experienced challenges and overcome them before making a conscious decision to work together, would have a greater chance of success.\u201d
\nInterestingly, she hasn\u2019t come across many Singaporean couples going into business together, probably because there are many factors to consider.
\n\u201cIt\u2019s a very bold decision,\u201d she said. \u201cMost people choose to keep their personal and professional life separate as there are risks involved.\u201d
\nOne of the risks involves getting into quarrels and bringing the negativity back home. Also, it wouldn\u2019t be a healthy relationship if the couple was treating each other as colleagues, rather than as husband and wife. In addition, if there was an economic downturn and their particular industry wasn\u2019t doing well, it could put a financial strain on the family.
\nStress and strain\u00a0
\nIn the case of property agents, where their business is driven by sales, Leong noted that they are constantly on the move and must achieve results, which could put more stress on the couple\u2019s relationship. There could also be some competition if both are doing sales. However, if one of them takes on the sales role and the other handles the more administrative functions, the relationship can work.
\nOn the other hand, one major advantage would be flexibility in timing. \u201cOne of them can carry out viewings while the other picks up the children from school,\u201d said Leong.
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This article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now!<\/p>\n