Special Feature

‘Real clients first’: Offering solutions for property progression in Singapore to meet clients’ real needs

March 15, 2024 3:00 PM SGT

Lee Gin Leong reflects on how his personal stories and data-driven methods have made all the difference to his clients. Photo of Lee taken at Ken Ng Advisory’s office. (Picture: Albert Chua/The Edge Singapore)

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Academically trained as an engineer, Lee never imagined that he would become involved in the real estate market someday.

In fact, his engineering career only lasted for a year before he turned his attention towards direct door-to-door sales of home security systems and later on, as a co-owner of a shop in Suntec City, selling a line of vegan handbags!

“I didn’t like engineering!” expressed Lee candidly. “I’m actually an introvert but somehow I enjoy helping people, and so gravitated towards being in a sales role.”

He was only in his 20s at that time and already had a diverse career path. But it wasn’t all plain sailing.

Lee’s early years were marked by perseverance and resilience as he buckled down with a can-do approach and plain old hard work while facing multiple rejections. These experiences equipped him with invaluable skills and insights that would later shape his success in the property industry.

"My entrepreneurial spirit guides my approach to real estate now," Lee reflects, drawing parallels between his experiences as a business owner and his role as a property agent.

After his businesses closed down, he did not want a typical office job and sought to find a sales job that could bring him the highest returns. Through his dealings with property agents who had helped him acquire spaces for his businesses, he became attracted to the prospect of becoming one of them.

“I had always noticed how friendly, cheerful and positive they behaved towards me when I was a client,” Lee recalls. “And how they always tried their best for me. That really resonated with me as I also wanted a people-centric job.”

As he sought to emulate his role models, little did Lee know that 14 years later, he would be the realtor managing the sale of a $32 million, 10,710 sq ft penthouse in Goodwood Residence, netting a profit of $16.4 million for his client.

Lee conducting cross division sharing. (Picture: Lee Gin Leong)

From serial entrepreneur to trusted realtor/leader

Now as a seasoned realtor, Lee dedicates his time to guiding clients through the intricacies of property progression. When it comes to helping them achieve their property goals, he prefers to take a measured approach, taking time to understand their needs and making sure that they understand and are comfortable with their next move.

“We are Asians, so asking people how much they have in their CPF or how much they earn is sensitive information,” Lee quips. “So I take time to get to know them and for them to know me.”

Part of this includes finding out why his clients are thinking of selling their property or upgrading and at the same time, sharing with them his personal property ownership journey to find common ground.

This is what he deems as “Real clients first”: Putting their real needs related to their real estate journey above anything else.

As an Associate District Director in PropNex heading a team of more than 30 realtors, Lee aspires to inculcate these values with his teammates in a three-point business model: Build Confidence with Mindset; Build Trust with Education; and Build Value with Service.

Lee and his family on a holiday in Japan. (Picture: Lee Gin Leong)

Property progression 101: Personal mistakes turned cautionary tale

Reflecting on his journey, Lee recalls the pivotal moment when he recognised the potential of real estate as a vehicle for financial stability and wealth accumulation. Unfortunately, he had waited a little too long to take action to maximise returns from his first property: a BTO flat he purchased in 2008.

"I had realised too late the need to plan my future with real estate," Lee shares. “I should have embarked on my property progression process earlier.”

Making an earlier move would have given him more opportunities to build a bigger asset. Driven by this realisation with the knowledge he now has as a property consultant, Lee embarked on his journey in the real estate industry, equipped with a determination to navigate its challenges and uncertainties for his clients, in particular young couples and families looking to upgrade.

Lee, accompanied by his wife at the Leaders & Achievers Gala held on 7 April 2023. (Picture: Lee Gin Leong)

“I share with them that property progression is one of the ways to counter inflation,” remarks Lee.

After selling his condominium recently for a profit of more than $500,000, Lee chose to upgrade to a new condominium that is currently under construction — which stands to be valued at $2.5 million.

“So in the future when I’m ready to retire and even if I don’t progress further, I know that at least I have this property as an asset,” he explains. Lee shares his own property progression plan with his clients so they can learn from his failures and countermeasures.

Now he provides a turnkey service for his clients, from the initial planning stages of looking at financials and timelines to selling their property and helping them transit to their next home seamlessly.

Conversation with Propnex CEO Ismail Gafoor. (Picture: Lee Gin Leong)

“Timelines are crucial when it comes to navigating property progression,” says Lee, referring to clients selling property to enable their next buy. “If the funds are not in at the right time and it affects their next purchase, then they’re going to be stuck.”

Thus, he takes great pains to be the gatekeeper of the whole process to ensure that everything runs smoothly; from collecting keys to the new property to getting storage needs sorted.

It is this attention to detail and careful consideration for clients that ensured their loyalty from Day 1, staying with him through multiple property buying and selling milestones through the years. As Lee’s career progressed, he then embraced opportunities for diversification and growth, adapting to the changing landscape of the real estate market.

"I saw an opportunity to venture into the luxury segment, leveraging my expertise to serve discerning clients," Lee explains. His ability to anticipate market trends and tailor his services to meet the needs of high-net-worth clients — such as the seller of the Goodwood Residence penthouse — has been instrumental in his success.

FirstProp Advisory Webinar with Benson Fong & Paul Teo. (Picture: Lee Gin Leong)

Embracing digital transformation and business systems in the Industry

Over the years, Lee has witnessed a transformation in the real estate industry, marked by a shift from transactional sales to client-centred advising.

"Transparency and data-driven insights are key," Lee notes, emphasizing the importance of providing clients with accurate information and strategic guidance.

Innovation lies at the heart of Lee’s approach to real estate, as he leverages technology and systematic frameworks to enhance the client experience. Tools like the PropNex Investment Suite app empower clients with real-time data and insights, building their confidence to make informed decisions.

He also adds value to his clients through his Value Enhancement Strategy framework to sell their properties at optimal prices quickly.

In collaboration with his business partners Benson Fong and Paul Teo at FirstProp Advisory, a consumer initiative for end users, they host free webinars for the public, giving them greater knowledge and resources related to real estate investment, and property sales or purchase that homeowners need to know to help them build a multimillion-dollar portfolio.

Consumers may gain insights and access to the proven systems by signing up for their webinars at fpawebinar.com

And while technology plays a crucial role in modern real estate transactions, Lee emphasises the importance of personal connections.

"Face-to-face interactions are essential," Lee insists, recognising the value of building rapport and trust with clients. By combining technological advancements with genuine empathy, Lee ensures a holistic and personalised approach to client service.

All in all, he stays true to his motto of “Real clients first”, by going the extra mile to put their real-life needs first regardless it is for sale or purchase and no matter which type of property they are looking for.