WHAT I LEARN IN 16 YEARS AS A PROPERTY AGENT . WHY I STOP RECRUITING AND TRAINING AGENTS....

In this video, Aaron Lin shares his 16 years of experience as a property agent in Singapore, detailing the evolution of the real estate industry and his personal journey.

Key takeaways from the video include:

• Early Career and Industry Changes (1:03-2:22): Aaron joined the industry in 2009, paying a small fee to become an agent. The government later regulated the industry around 2010-2011, establishing the CEA and requiring agents to take exams for certification. This period marked a shift from a less regulated environment to a more structured one.

• MLM Structure and Recruitment (2:23-4:20): The real estate industry operates on an MLM (Multi-Level Marketing) system where agents join under a specific person, who then overrides a percentage of their commission. Aaron started recruiting around 2015-2016, initially believing it would provide passive income. He used job street advertisements for recruitment and found that unlike typical job interviews, potential agents chose their upline.

• Challenges in Recruitment and Training (4:20-6:16): Aaron realized that recruiting was one thing, but training and helping people succeed was another. He felt he didn't do it well initially and sought to improve his skills by attending an NLP (Neuro-Linguistic Programming) training, which he credits with changing his life and improving his communication and training approach. He also took an ECTA certification to conduct CBD courses.

• Lack of Loyalty and Low Overriding Commission (6:18-12:10): A significant turning point was when his agents left him after DWG merged with PropNex. He realized that the overriding commission from recruitment was very low (around 2-3%) compared to the effort required to manage, train, and motivate agents. He also observed a lack of loyalty in the industry, where agents would blame their leaders or jump to other teams when they felt stagnant.

• Agents as "Lone Rangers" (12:10-15:06): Aaron believes that successful agents are mostly "lone rangers" who work for themselves and their own goals, rather than in teams, unless they are couples. He emphasizes that the industry is very competitive and requires individuals to be strong and self-reliant.

• Finding Passion in Helping Others (15:07-19:50): Despite the challenges, Aaron found enjoyment in helping people succeed in the real estate industry. He finds motivation in answering agents' questions and guiding them. He states that his passion lies in helping clients make good property decisions and assisting agents in their careers, rather than focusing solely on monetary gain.

• Industry's Systemic Flaws (19:51-22:28): Aaron concludes that the MLM structure in real estate often lacks a proper, standardized system to help agents succeed. Success largely depends on the quality of the person an agent joins under, and there's a risk of receiving inadequate or even wrong training. He notes that after 16 years, he no longer has a traditional "upliine" or mentor but maintains respect for certain individuals in the industry.