“There’s a reason I called you first because I trust you and I feel you get me.”
Hearing the words “I trust you” could be one of the most transformative moments in the journey of a realtor. In the world of real estate, where a home is often one’s biggest asset and involves making life-changing decisions, trust is the secret ingredient. Whether it’s a homebuyer walking through the door or finalising a transaction, trust is what holds it all together. This is the foundation that holds the power to transform a real estate consultant from a mere service provider into an advisor and confidant.
One client trusted our team enough that one home sale ignited a domino effect in our partnership with them.
How Their Journey Began
Elaine (names have been changed to protect the privacy of our clients) and her husband contacted PropertyLimBrothers’ customer service hotline to sell their 3-bedroom home as they were looking to upgrade their space to accommodate their family planning needs. They were referred to our listing consultants, Grayce and Gabriel.
After our team looked through their real estate portfolio, our consultants believed that their unit still had much untapped appreciation potential. In their analysis of the masterplan, Grayce and Gabriel identified that the unit was in an area with much growth potential, enjoying what we would call the first-mover advantage – being a project in an area where many new launches were upcoming and hence able to enjoy significant price appreciation alongside the new launch prices. This is what is often referred to as the cat-and-mouse pricing in real estate.
The cat-and-mouse price movement between new launch and resale properties in the private non-landed market view these properties as competing products in the same way that brand new and second-hand goods are compared. Buyers are looking for the best deal for their money and the prices of these new and resale units can be found reacting to one another in a cat-and-mouse fashion. The price of a new launch sets the highest benchmark for the price of a resale — all else being equal (tenure, volume, proximity to MRT etc). Hence, new launch prices are said to lead resale prices. Noting that there were a significant number of new launches that would come up in the area, Grayce and Gabriel also employed PLB’s proprietary tech tool, the MOAT analysis, where they studied the location, tenure and rental potential, to eventually advise their clients that it would be premature to sell.
Soon after the first consultation, Elaine arranged a family consultation together with her in-laws. As they had initially shared that moving into their parent’s place, a landed home, was an option, they wanted us to consider their family’s real-estate portfolio in a holistic manner. In total, there were three properties in question:
- Elaine’s family home (3-bedroom Condo), owned by Elaine and her Husband;
- A 2-bedroom investment property, owned by Elaine’s in-laws; and,
- A landed house, owned by Elaine’s in-laws.
The Family’s Needs
Elaine and her husband wanted more space for their family’s needs, and their 3-bedroom condo unit was feeling too small for comfort. Meanwhile, their in-law’s were advancing in age and were concerned about living in a large landed home with stairs. Thus, the whole family was considering the potential of a multi-generational living arrangement.
Extensive Discussions with the Family
With their goal in mind, our consultants Gabriel and Grayce spent an afternoon presenting ideas and potential exit strategies for the 3 properties that Elaine and her in-laws owned. A total of 9 possible courses of action were presented to our clients. Our team made sure to cover all bases.
After much consideration, Elaine and her family decided that the best way forward was to take this process one step at a time without rushing into things – with the first step being to sell the investment property and see what comes next.
With that, our team proceeded to start marketing the 2-bedroom investment unit as the first step to this approach.
An Unexpected Twist in the Tale
Not long after we listed the 2-bedder, Elaine contacted our team that her next-door-neighbour’s unit at her condo was on the market. She was interested in taking over that unit to combine it with her current unit, turning it into a colossal six-bedroom home in her much beloved condo development.
As it turns out, our client Elaine had another name she could use to buy her neighbour’s apartment – her mother’s name. Elaine’s mother had owned a fully paid HDB flat, and they toyed with the idea to sell that flat to use her mother’s name to buy their next door neighbour’s unit. This would allow them to join the two units into a huge six- bedroom condo unit that everyone could live in, solving their current needs while matching their budget.
Love thy neighbour’s house
In the blur of excitement, Elaine called our team one evening at 4pm saying that they had arranged a viewing for her neighbour’s unit at 4.30pm. The team prioritised being available for the client during the viewing, ensuring she had the advice or representation she might need. Our consultant, Grayce, was able to attend on short notice, arriving within 30 minutes.
On that same evening, the neighbour’s property had already garnered interest from other potential buyers and our client was now at a crossroads. They were in a place to make some pivotal judgement calls for their family.
Facing a noon deadline the following day for submitting an offer, our team engaged in an extended and rigorous discussion with our clients about the prospect of selling Elaine’s mother’s HDB residence. While they did not want to make such a significant decision hastily, they also recognized the unique nature of this opportunity. After all, opportunities to acquire an adjacent unit are exceedingly rare, and missing this chance would mean forgoing the dream of consolidating a six-bedroom apartment in their favourite condominium complex.
Eventually, Elaine and her mother made an offer which was accepted by their next-door neighbour.
A Happy Client
Throughout the whirlwind process, we were thrilled that our client expressed gratitude to our team for maintaining open lines of communication and providing them with candid advice in helping them consider the opportunities that their new home could offer.
Our team was honoured to be able to represent Elaine and her family in the transactions that would ensure their goals were realised.
Closing Thoughts
This exchange shows how trust doesn’t stop at the dotted line. It has a ripple effect, as they are talking about a partner who had their back throughout the journey. In a testament to the relationship our team built with Elaine and her family, we were honoured to have been entrusted with managing their whole real estate portfolio.
In this industry, trust is more than just a buzzword – it’s the foundation of every successful deal. Our clients are not just looking for a business transaction; they’re hoping to find someone who gets them; someone they can trust with their dreams and plans. Clients want to know that we aren’t just there to make a sale – we’re there to guide them through one of the biggest decisions of their lives.
If you have any questions about your property journey, or would like a second opinion on your options in the market, do contact us here for a tailored consultation with our experienced Inside Sales Team consultants.
