I just came back from my prospecting and I believed I have made myself proud and happy. No, I did not get the owner to sell but I have managed to gain her trust in my service. I did what I was supposed to do, to educate and share my knowledge. She was staying alone with a friend and by reading between the lines I knew she is single. She offered me a cup of green tea and quickly made myself comfortable.
While she was preparing the tea, I took out my netbook, notepad and all the other things necessary to get the presentation started. I made small talks with her to find out more about her intentions. She is undecided between selling or renting her house. I advised her on the renting procedures and how much she can rent her flat for, what are the types of tenants she can get and what she must expect from renting her flat. It was easy to talk to her because firstly, she is an educated woman and she is open minded. She comprehends explanations without any problems and she is quite a thinker. I knew it then that there is nothing to hide from this woman. Let the truths be revealed and I will gain her trust.
After talking about rental procedures, I moved on to selling. I checked her ownership and verified it. I then did her financial calculations. She is 51 years old and looking at her current situation I honestly cannot advise her to sell her flat even though it will be a positive sales. Now Diary, a positive sale means a sale with profit/cash proceeds. Her cash proceeds would reach almost 60K but still I wouldn't advise her to sell. Her current balance in CPF is just way too little. Her plan is to sell and then buy a flat unit of the same type as she is living now. Obviously it would be of almost the same price as how much she is selling. She still has about 52K of outstanding mortgage to service. If she were in her mid thirties or early forties, yes I would advise her to sell but she is 51 and it is really not a good idea to sell even though she would make that much money. She would end up with more mortgage to pay and that is a NO-NO when you have reach 50 years old.
So the best option for her is to rent her flat and look for somewhere else to live. With rental rate as high as 1.7K for her flat she can easily pay off her mortgage in 5 years time if she uses the money to pay off her mortgage. I believed I have explain it well to her and I guess the prospecting went ok. Not too good and not too bad but one thing I know I have probably widen my circle of clientele base. I need that for a starter. New agents do not have referrals and we rely so much on new people we meet. It is like farming you know, you farm trust in the people you meet and InsyaAllah one day you will get the rewards.
I did not go home feeling dissapointed but instead I felt rather relieved and glad. I started to imagine myself when I will be 51 years old. Would I be facing the same problems like she does or will I be well off by then? I am single, unmarried, childless and I have only one brother left. Who would take care of me when I grow old and where do I seek help financially and emotionally if I ever need one by then? I am sure when the time I turn 51, my parents would be gone and I will be left all alone with my brother. If I do not prepare myself for the worst from now, I will never pull through. I have seen the blessings out of my appointment last night. Allah probably wanted to send me a message to start thinking about my old days now before it is too late.
I have to make it work Diary. There is no time to waste anymore. I see the real reason why I had to come back to Singapore and why I am in the industry now. There are only two options for me to do now, keep working hard and see the results in 5 years time or quit and get a salaried job. I opted for the former. Before I left her house, she told me that the meeting was an eye opener for her and it made her happy with the options that she has. She said that she might be renting her flat for 4 to 5 years so she could save enough money by then and move back to her flat. There were many things spoken about the issues but one thing I remember most is, she said that she only can see the result of her decision to rent in 4-5 years time. Nothing shows result immediately.
That surely rings a bell. You need time to get fat from eating, let alone to be successful in your career. What's most important is, you must not quit, stop if you must but never quit. I understand it now.
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