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At the tender age of 29, Tan Justin is a routine breaker of sales records and collector of an impressive number of homes. The Klang Valley-based real estate agent and project head at Brownland Properties is just getting started.
“I strongly believe in setting long-term goals. I do wish to have a higher individual net worth — that is one of the more important goals for me. I would like to hit a net worth of RM1 million by the time I hit 30, and perhaps another RM9 million five years after. I also wish to undertake bigger projects, and perhaps even develop some of them when I am in my 40s,” says Tan, who’s flipped nine pieces of property in the past eight years.
“I am always looking to push and further myself in this industry. I think it is important for agents to challenge themselves, to not get too comfortable and to be able to adapt. In real estate, the rules, the platforms and the mood of the market keep changing, so agents should be flexible and adapt to these changes,” says the determined young man.
Indeed, this agent could very well be on his way towards building his business empire.
“What I’ve learnt over the past eight years as a real estate agent and negotiator is the importance of finding your niche. There’s definitely more to being an agent than just having property showings,” he says.
Agents should have personal sales strategies, he says.
As a newbie, he quickly figured out his schtick: what worked for him with his clients. “I focused on being a specialist for Taman Tun Dr Ismail (TTDI) and Bandar Utama. I think you stand a better chance of closing deals if you gather great listings for a certain area and present them to your clients rather than just accompany them to look at properties aimlessly.”
Whatever it is, Tan is clearly doing something right.
A dropout, a kick-start
Oprah Winfrey, Mark Zuckerberg, Steve Jobs, Tan Justin — they’re all college dropouts. As a student, Tan did not foresee a future in the real estate industry.
“When I was pursuing a business degree at a local private university about nine years ago, I was constantly playing the online video game (Defense of the Ancients, better known as Dota). In fact, my mates and I had the second best team in the game world!” he declares. Yet, he achieved good grades. The problem was, “I just wasn’t very focused or passionate about the course,” he says.
In 2007, he worked for Standard Chartered (under its mortgage division) for about six months while studying. The experience exposed him to the real estate industry.
“It was actually my then-girlfriend, now wife, who suggested that I should try my hand at being an agent,” says Tan, who grew up in Bandar Utama. His stint at Standard Chartered piqued his interest and he made the drastic decision to quit both college and the bank job to focus on being an agent.
His first deal did not come to fruition. “It suddenly became a sink or swim moment for me, as I no longer had any fixed income,” he says.
However, about a month later, Tan found himself closing three deals within a week, validating his natural abilities as an agent which his wife had no doubt seen and believed in.
“I had no choice but to push forward. It was tough but I did what I could to survive. In the end, I managed to close the sale of two condominiums, one in TTDI Plaza and TTDI Kiara Park, and a landed home along Pinggiran Zaaba,” says Tan. “I believe that kicked start my career as an agent.”
Since jumping on to the real estate bandwagon, Tan claims to not have gone through any “dry spells”, earning about RM50,000 to RM150,000 a month.
“Perhaps I just got lucky,” says the humble chap.
The art of flipping
Tan was quick to ride on his initial success. “After a couple of lucrative sales, I bought my first property at 21 years old because I knew I should make my wealth in investing in properties rather than just rely on my sales commissions.” His first purchase was a condo unit in Perdana View, Damansara Perdana.
“It was a rather tough decision. For a young person, I was so tempted to buy a new car. At that time, I was driving a beat-up [Proton] Gen 2, and I wanted a new Honda Civic. So it was quite the toss,” he jokes.
His priorities triumphed over his temptations and Tan has since acquired 15 properties, mostly in TTDI and Petaling Jaya. “I currently hold six, as I’ve successfully flipped the rest. I tend to go for homes on the secondary market. I’ve only bought two primary properties so far. I plan to keep buying more properties although now is probably a good time to stay liquid until our economic situation stabilises,” says Tan.
What is there to the art of flipping? “I think presentation is everything. It makes all the difference. Sellers should definitely make their properties more attractive before putting them on the market by repainting, fixing the floors, upgrading the bathrooms, making your homes look more contemporary,” he shares.
Paving the way to success
In 2008, Tan joined his first agency, JA Valley Properties, which he describes as “one of the most memorable moments of my career... when I became the top earner at this agency. I was 21 years old, with little to no experience and I managed to rake in a total of RM200,000 in sales that year,” says Tan. “Of course the number seems quite small, but back then, property prices were a quarter of what it is today, so it was quite an achievement,” says Tan with some pride.
Three years later, he joined Brownland Properties as project head.
“I expanded my portfolio to other areas such as Bangsar and Damansara Heights, [and also handled] more primary projects, mainly in TTDI, Bandar Utama and Kepong. Our proudest achievement was when we sold 300 units of a primary project in Sungai Penchala. We handled its sales and also marketing and managed to sell the first 200 units in a day,” beams Tan.
All thanks to teamwork, he says.
“It is crucial to have a solid team. The more people you hire, the more territories you can conquer. It is best to help each other to achieve common goals.”
At the moment, Tan manages 10 agents. He adds that Brownland, founded by Doreen Tan about 30 years ago, is recruiting new agents. “We are looking for new and young agents to join our teams,” says Tan.
“Young people should consider the opportunity to become a negotiator/agent. It’s a great way to expand your wealth, and perhaps one of the fastest ways to purchase your first property. You’ll be able to get more industry insights, and get good deals first-hand. You’ll be able to see how the market responds to properties in certain areas,” he advises.
Brighter outlook
Despite the weakening ringgit and market uncertainties, Tan is hopeful market sentiment will pick up next year.
“I think there’ll be a rebound next year. I believe property is still the safest investment and, at the end of the day, people still need homes. It’s a basic necessity. Secondary landed properties are still the leading property type in the market.”
He says the secondary market is still going strong whereas the primary market has been significantly slower. Developers are offering attractive rebates and discounts but buyers are becoming more informed, discerning and price-savvy. Apart from good locations, developers have to work harder at making their products more saleable, and offer better packages, he adds.
He notes that the traditional prime areas in the Klang Valley such as Bangsar and Damansara are incredibly saturated.
“There should be more upcoming prime areas to meet the demands of a growing population. Kepong, for example, is doing really well, as some of its projects are close to Desa Parkcity and Empire City. Buyers are willing to pay to stay in prime locations,” he says.
Aside from pursuing his financial and career dreams, Tan, who is an avid football fan, wants to travel to Europe next year. “I’d love to take a month off and backpack around Europe, in conjunction with UEFA Euro 2016,” says the Man U fan.
This article first appeared in property+, a section of the digitaledge DAILY, on Sept 4, 2015. |
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Post time 7-9-2015 10:20 PM
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