An exclusive interview with Ng Li Teng, A real estate entrepreneur
Tell us about yourself?
I am a Full-Time Real Estate Entrepreneur (aka Full Time Property Agent) with ERA Realty Network, Servicing my clients and building my team via my Client Centric Property System. Recently I also got TOP 10 Achiever Awards in Preeminent Group in ERA. I am serving as a community leader empowering women to go from offline to online in SoulRichWoman.com
I am using my own unique blueprint, called the Client Centric Property System in two ways:
Servicing my clients with this system to help them accumulate wealth, build up their retirement funds and more money for their Children and family.
This system aims to equip agents with the knowledge & Skills from my past paralegal, bank sales, credit collections and insurance background that will help them service their clients better, and to bring home a consistent income of at least $15k per month, also to help them to be recognised as a leader and to grow their teams going forward.
I believe although $15k may not be a lot of money to most agents, this $15k can also help to pay for a holiday to Japan Disneyland for a family of 4, or more enrichment courses for the kids, another dress for the daughter/ another pair of shoes for the boys at home. The additional $15k that agents bring home definitely can change the lifestyles of the family and their loved ones.
2) What makes your organization different than your competitors?
The step by step Client Centric Property System (CCP) is created based on my past experiences gained from being
a) A paralegal (drafting court documents) under the banking litigation department
b) A credit collections officer giving legal advice to the bankers on a daily basis ( involving credit cards, loans),
c) Retention and sales balance transfer executive with a reputable offshore bank involving auto loans,
d) An insurance agent doing insurance advisory work for customers
And this system is created to equip our agents with more knowledge and skills to assist the customers in a more well-rounded way.
Based on the legal knowledge that I had, I find that I am able to service clients better whenever they need help to write into the governing bodies for any clarification of their status or any special request for waiver of late payment charges/ extension of time for the sale of the property. I am able to advise clients on what are the kind of situations that the authorities will look into for special appeal or approvals. I am also able to advise clients on what proof to show to substantiate their claim for such appeals and to get them ready to present their cases well so not much time is wasted.
For the rental cases, I am also able to help Landlords/ tenants negotiate for early termination of the lease and help them prepare necessary documents drafted by me to safeguard their interests. This is made possible due to my past experiences of being a paralegal helping a pool of 9 lawyers to draft their court documents involving writ of summons, the order of the court, writ of seizure, bankruptcy petition and orders. As for the handover of property, I was also able to help draft out documents for settlement of the handover whenever any items in the house were found to be returned defective by the tenant.
With the banking background knowledge, I was able to help clients to apply for their loans much more smoothly, and at times if more loan amount is needed, I am also able to explore more with the clients to check with the various banks for a higher loan and advise clients more effectively.
Having the knowledge from the Insurance line previously, I am able to advise clients to make more sound decisions with respect to their property sales and purchase based on the financial calculations and also projected rental yield analysis. I found out that the client doesn’t have that much budget, I would ask the client to reconsider to buy a more affordable unit based on his situations.
My clients have also found my legal and credit collections experience a value-added service to them when they encounter nasty tenants who refuse to pay rent and also refusing to move out of the property.
Also to add, the motto of Client Centric Property System: (Empowering Agents, Uplifting Lives).
3) How much potential market share can you achieve in the next 3 years?
It depends on how many agents would I be having the end of that period. But if the number of agents has accumulated to 500, I would be targeted at 20% of the market share for a start 🙂
4) What was the best book or series that you’ve ever read?
The Art of People by Dave Kerpen, the New York Bestselling Author. I read the book because I was intrigued by how to own the people skills that will get you everything. I always believed to be successful, you need to have influence. But influence is not something that you can just buy off the shelf.
One other thing that the book mentioned was about how to inspire people, and I think it’s very interesting and important to know, Inspiring people do not about show them your Vision, but rather is to show them their Vision. And to inspire people is not just about myself, it’s rather more about the audience I am putting attention on. I have adopted this part of inspiring others to my sales and found it very effective and satisfying for my clients. It’s not just a product or service I sold to them, I managed to give them light to go for something that probably didn’t see and thought they cannot have before. Inspiring people will help them change their lives for better I always believe.
5) What are the best and worst purchases you’ve ever made?
Best Purchase would be those “expensive” courses I spent to invest in myself with more skills and knowledge in order to provide better service and advice to the customers. Such skills and knowledge obtained from the courses really helped me go far even up till today. Hence, eventually what I gained is much more than what I put in initially. So I feel that to invest in ourselves is always the most important in order to stay competitive.
Worst Purchase would be the purchases when I care too much on the price and forget the underlying values in the process of choice selection. A lot of times, such purchases are relatively cheap but over the years I realised such purchases are made penny wise pound foolish. Hence I also understood that good quality items are seldom sold cheap, and cheap stuff are usually of lower quality, especially when it comes to training courses for self-improvement.
6) What takes up too much of your time?
Procrastination and feeling negative. I realised that such feelings and action takes away too many precious hours for me to be productive. As I picked myself up from Procrastinations and feeling negative, I have since found myself a new mentor through SoulRichWoman.com to teach me new stuff on branding and building up my online presence. Things have been moving well more leads have since been generated and converted. I realise that finding the right team and also the right mentor will help you greatly to achieve even more breakthrough than on your own.
7) What three pieces of advice would you give to college students/new startup business owners who want to become entrepreneurs?
Be in the right Team. Being in the right team with positive vibes and attitude will give you motivation and encouragement to spur you on the path to Success. It’s said that even Zhu Ba Jie ( the Pig Character) gets to be a Buddha in the Journey to the West eventually but tagging along with the right team. So finding the Right team is very very important.
Finding the right Mentor is very important. Mix with people who can help or inspire you to move in the right direction towards your goal. In my first two years of the trade, I was unable to find the right mentor and things were really slow, but from the 3rd year onwards, I was lucky to find a mentor that helped me and groomed me for my sales. After the guidance and coaching I got from him, the closing rates of my cases have been smoother and much much faster. This helped me greatly to generate faster income on lower costings. I personally also feel that the skills and experience shared with me have greatly benefitted me from a decade ago until today.
Invest in Yourself. For me, training and coachings are very important for us to keep improving ourselves so that we can give our ever best service and skills to our clients. So my advice is never to say “I only go for free training/I don’t see the need to pay for training” Look at the lawyers and doctors and engineers, why are they called professionals? That is also because they have paid their school fees and gone through long hours of lessons and training to be competent at their work. Isn’t it right?
8) Who has impressed you most with what they’ve accomplished?
Genecia Alluora (GeneciaAlluora.com), I have been watching her videos online and facebook live, following her for a period over two years. An outstanding woman who really walk the talk and personally know her and felt that she is someone exceptionally courageous with a great heart to teach and share. A lady who had suffered the worst in debts but her strong will to change her life and her success didn’t just stop there. She is now out there to help many other women to better their lives and businesses. She is a legend and a role model for me.
9) Tell us about something you are proud of – about your greatest challenge.
Being able to value add client to give her sound advice on how to deal with her Nasty Tenant who refused to pay rental and also refused to move out- Based on my past credit collections knowledge and legal knowledge, i was able to advise client on how to persuade and write effective emails to tenant and that helped her to :
a) Retrieve back the rental arrears of more than SGD10k
b) I also helped to persuade and negotiate with the nasty tenant to move out of the property since he was insolvent.
c) Draft out an early termination contract for the client and let the tenant sign and help them arrange a proper handover.
10) How people should connect with you?
People who are keen to discuss or meet up with me on their real estate matters or careers, they can connect with me via three links:-