As self-employed salespersons, it takes more than just learning the ropes to survive in our industry. To succeed, we must continuously develop our business proposition, says Ryan Lee.
An agent will have trouble creating anything of value without a solid foundation, says Ryan Lee, Group Division Director and a recipient of ERA Realty’s Top Gun award in recognition of his decade-long tenure with the agency. “As self-employed salespersons, it takes more than just learning the ropes to survive in our industry. To succeed, we must continuously develop our business proposition, marketing know-how, and gain a profound grasp of the ever-changing consumer behaviour,” he says.
Lee attained Rising Millionaire status in ERA in 1Q2024 and has been consistently named Top 3 Group Division Directors at the agency’s monthly awards.
He is acutely aware that it takes more than individual effort to succeed in the industry. He has benefitted from good mentorship and owes his success today to his mentors, Eric and Tracy of Swift Group. Armed with a natural inclination to help others and a cognisance of the importance of a good mentor, Lee went on to recruit his first agent in his second year; and over the years, he has helped to mentor numerous agents, and groomed several notable Millionaires and Rising Millionaires. He derives satisfaction and fulfilment from being able to play a part in helping them achieve heights that they once thought were unscalable.
Lee attending ERA Millionaire Gala 2024. (Picture: Ryan Lee)
“Everyone needs a mentor. Even experienced agents can feel themselves plateauing if there is no one there to help give them a gentle push and bring them outside their comfort zone,” says Lee. As for new agents, Lee shares that he has always made it a point to spend time setting the foundation right for them, which explains why most of them are now independent self-run achievers.
Real estate agents often overlook how easy it is to overspend on marketing expenses. Lee shares that he has seen some mentors adopt a one-size fits-all marketing approach for their agents, without taking into consideration their individual constraints. In his perspective, this can drain agents financially and mentally, given the high costs of marketing these days.
“I frequently encounter agents who would spend their marketing dollars blindly, only to end up demoralised after a long drought with no closings. Despite having appointments with prospective clients, some agents are either not well-equipped or do not possess the requisite skillset to reach the finishing line.”
As a result, he makes it a point to help his agents develop a disciplined approach towards budgeting and client management. “It is worth taking a step back to scrutinise your marketing expenditure and evaluate if you are spending it strategically, or to re calibrate your marketing strategy to one that you are most comfortable with,” says Lee.
Top 50 Achievers for March 2024. (Picture: Ryan Lee)
To ensure that his agents do not veer off-course, Lee makes it a point to catch up with them periodically to review their progress. Last year, he stepped in to help a seasoned husband-and-wife realtor team who have been relying primarily only on their personal connections. “When they approached me, it was clear that it was only a matter of time before this network of leads would eventually dry up,” says Lee.
“In their case, we came up with a marketing strategy that was forward-planning and focused on ensuring a steady pipeline of leads,” he says. Fast forward to today, this husband-and-wife team are now among the top performers in his group.
Team lunch. (Picture: Ryan Lee)
It is undeniable that social media marketing has become a cornerstone marketing strategy of the real estate industry, says Lee. However, consistency is key, and many agents struggle to keep up with a regular posting schedule or content curation, he says.
As the leader of his division, he regularly organises sessions to help his team in their content curation. For example, he would conduct role-play sessions where agents put themselves in the shoes of buyers and sellers, and brainstorm content that would be the most relatable to them.
Top 3 Group Division Directors for March 2024. (Picture: Ryan Lee)
Once the groundwork has been laid, the last determinative step is meeting up with your client. Real estate agents meet people from all walks of life, and the ability to do client profiling is an important skillset that can help agents communicate more effectively with their clients, says Lee.
“Understanding your client goes a long way in helping you to curate a sales approach that resonates with each individual client — and as an agent, it also enables you to manage your expectations when it comes to dealing with a variety of personalities,” says Lee. To him, this is something that can be taught and honed with experience.
ERA Top Gun award recognising Lee’s 10-year long tenure with the agency. (Picture: Ryan Lee)
One of the most successful agents in Ryan’s Division crossed over from a different group to join his division three years ago. Although the agent was proficient in generating leads, he lacked the skillset to successfully convert them. Thus, he earned a meagre income in his first two years as a realtor.
It took about a year of intensive training for this agent to achieve his first breakthrough under Lee’s mentorship, and he recently emerged as ERA’s Top 5 Achievers for 1Q2024.
Another agent who has been with Lee from the start of her career impressively managed to buy her first property in prime District 9 after just three years on the job. Aside from showing her the ropes, he also encouraged her to diversify her services to maximise her time and marketing dollars.
“This agent managed to achieve her breakthrough because she had the right learning attitude and the drive to succeed,” says Lee. He observes that agents often gripe about their mentors but overlook the fact that it takes two to tango.
He takes pride in grooming agents and imparting them with the right values and ethics for the job. He is continuously on the lookout for agents with a hunger to succeed to join his growing team. As for his mentoring philosophy, he firmly believes that spoon-feeding only perpetuates the need for that person to rely on others, while teaching someone a craft allows them to provide for themselves.
For more information,
Contact Ryan Lee Kah Kiat | 97923832
GROUP DIVISION DIRECTOR (R055105A)
ERA REALTY NETWORK PTE LTD