About 5,719 privately-owned houses were sold in the third quarter, surpassing the previous record in the second quarter of 2007, which only reached 5,129 houses.
Because of the new trend, many of the real estate agencies are showing a good performance and more people are getting into the real estate business.
In just one month, a property agent earned $90,000 worth of commission, doubling the amount she earned for the whole of 2008. This was largely due to the unexpected mini property boost in the third quarter this year and the return can be too attractive.
34-year-old Wee Ai Na earned a commission worth $90,000 in October, exceeding the total of $48,000 earnings for the whole of last year.
Miss Wee is an agent in ECG Property and said her recent deals were all about selling private condo units that were worth $1.5 million each. Last month, she sold six units, which were located in prime areas of district 9, 10 and 11.
Most of her deals are new condos from developers, where commission is no less than 1 percent.
“I never expected to do so well. But the market did really well and I guess I was lucky. It was a lot of hard work and I guess I got my lucky break,” said Ms. Wee.
Miss Wee, a permanent resident, has been engaged in this line of business for only two years. Her six sisters and three brothers are all engaged in the family business.
“I am very blessed and well-provided for. I had no issues with money and I never had to go hungry. But I don’t ask my family for money,” she said.
She worked in KPMG as an auditor for two years, and then moved to Hewlett-Packard, where she became a business process analyst for about three years. Her salary was about $5,000 a month.
She then engaged in the trading business and sold misting fans in Kuching. It didn’t take long until she turned into a real estate agent.
“I have always had a keen interest in property because it’s a tangible asset. I also like to meet people. So, I thought that it was a good industry to be in.”
She didn’t draw a salary for the first six months and had to live with her savings.
“The volume of work was very low, I was still learning and observing the market. My family asked if I wanted to join the family business but I refused to do so.”
“I knew I was in a bad shape but I wanted to strike out on my own. I learnt how to live lean then.”
As a rookie, Ms. Wee has been learning a lot of things about her job. For instance, it was a big help to travel extra miles just to meet her clients.
She even recalled how her client missed out the famous braised duck rice from Pasir Panjang Road.
She immediately drove to Pasir Panjang from East Coast just to buy the duck rice, which she delivered to her client in Sembawang.
The reward: $10,000 commission for closing a $1.5 million deal for a condo at Reflections at Keppel Bay.
“You cannot take these things as hardship. It’s part of the job. I am serving my client and I have to do my best,” she said.