9510Singapore real estate, virtual tours of apartments and houses educational stories for asiahomes.com realtors, March 3, 2001. Excerpts from "The Internet Realtors, Singapore", sponsored by  AsiaHomes Internet.


The Airline Captain lost by $100.

"I sent emails to the three realtors in my company but none replied to me," said the tall German expatriate. "I guess they are not interested in my business, so I checked the internet for Singapore real estate and contacted you."

The expatriate had earlier emailed to me saying he wanted UE Square 3-bedroom unfurnished at $4,000.  I replied with some recommendations. Sounds like an easy case of an expatriate knowing what he wants?

When I followed up on more emails, he did not want UE Square condos any more, but Rivershire, Aspen Heights and The Quayside.  $4,000 was not a realistic rental for a 3-bedroom, around 1,600 sq. ft Aspen Heights and the Quayside with a patio, but I was not going to think negatively.  

The asking rentals at March 1, 2001 were: $5,500 (facing tennis court), $5,200 (facing small road) and $5,000 (facing putting green) for Aspen Heights condo with a patio. The one at The Quayside with a beautiful balcony was asking $6,500.

He did his homework well, befitting the reputation of great efficiency of German nationals and had proposed a higher budget. 

We were waiting for 30 minutes at Aspen Heights condo for the co-broking realtor who was late. We kept paging for her and she said she would be coming.  Max in the pram was getting restless but he was the most well behaved and happy toddler.  At least 5 Caucasian and  1 Japanese mother passed by with their prams to return to their condos. 

School children alighted from the buses at around 4 p.m.  Lots of breezes and many children unlike the quiet The Quayside condo we just left. The latter had more single and couples without children.

"In the U.K, I rented a house after seeing the virtual tours of two houses in the internet," the German expatriate said.  That sure saved him a lot of time.   "Singapore's real estate virtual tours is still at the infancy stage," I said. 

"There is a good property portal at: http://www.propertyfinder.co.uk/" he tipped me.

"There are one or two websites showing virtual tours of a handful of apartments and houses, but they cannot be located at the search engines and directories.  I remember a pioneering one now no longer exists.," I explained.

"Maybe, in the U.K, the realtors get exclusive listings and don't mind spending money on promoting virtual tours as the houses are scattered over a wide area and Owners don't want to travel long distances just to open house," I postulated.  In Singapore, most realtors don't get exclusive rights. The Owner may have rented out the house and the realtor will have lost money introducing virtual tours. The young expatriate agreed as he wheeled the pram down the handicap's passage to meet the realtor.

It was a real pleasure to work with this honest expatriate who told me his maximum rental budget so that I could show him qualified properties and he got what he wanted within an afternoon of viewing.

"Give this offer," the expatriate said.  It was $100 less than what the Landlord expected and had already got this offer, said the co-broking agent. 

He agreed to top up.  I rushed the letter of intent and a good faith deposit to the co-broking agent at 6 p.m.  The Airlines captain who had offered through another agent lost out by $100.

 
Reference 1.
http://www.asiahomes.com/singaporerealty/expat/analysis/index.htm has several reports which will reveal to first time expatriates relocating to Singapore a real situation on the Singapore market rentals. Do email judy@asiahomes.com if you have more queries. Or tel: +65 9668 6468. This article is contributed by Realtor David Sing. http://www.asiahomes.com/singaporeealty/david
david@asiahomes.com

Tips for new www.asiahomes.com Realtors

You will need to know what's the lowest rent the Landlord wants by communicating with the Landlord's agent and be able to offer a good faith deposit immediately to effect a successful closure.   

You Got Tenant, Condo Owner? Looking for Tenants is like winning a war. You need to know where your enemies can be found. You need to advertise in www.asiahomes.com where prospects interested in Singapore properties are likely to be found. Why not place an affordable internet ad to contact prospects direct and save you a few thousand dollars in agency commission? Telephone +65 9668 6468, E-mail judy@asiahomes.com Last updated: 03 Mar 2001