The Biggest Property Mistake Singaporeans Still Make

Added: 2026-05-09

[00:00:00]Hey all, if any of your barby agent tells you that resale is no good, the firstand owner already make all the money already. So new launch is the best. Stop. Don't sign anything. Don't believe anything they say until you have finished this video. Because by the end of this video, you will understand why they say that. Is it true that resale is not good for you?

[00:00:22]>> No, it's actually not good for them. The good news, I'm going to share these few pointers that I didn't share in my entire career in YouTube. I only share this in the today's program. Number one, why buyers should consider resale. And number two, is it better to buy resale without agent or is it better with an agent? Lastly, the real reasons why resale gets pushed aside. Okay, quickly, why buyers should buy resale? Then we compare with new launch first. When you buy a good new launch, when I say good are those top score projects by me, the chances of getting a unit there is very difficult because it's highly depends on your ballot number. And I say in one of my video, in order to get your preferred unit, your ballot number needs to be at least oneird of the project size.

[00:01:07]Example, if the project size is 600 units, your ballot number should be below 200 in order to get your preferred unit. Many of you will say, >> "No, my number is good, but I still can't get a unit."

[00:01:19]>> Yes, correct. Because sometimes they have like loyalty program, uh, VVV, IP, multiple units that is sold the day before the public launch. And yes, it is challenging. But as I said before, these are all good top projects where many buyers potentially make a lot of money after 4 years. But if you choose the lousy ones, we got such problem, right?

[00:01:40]So we should focus on good ones and participating in a good project doesn't guarantee you a unit. So I always tell my people if you want to buy a tree ber I think the chances of getting is only 30%. This also means that many people can't get their preferred unit. Am I right? For investment my strategy has been always resale first and if let's say a good new launch comes around they can try for the new launch. But if let's say their number is shitty they can't get a unit ah then go back to resale again. And now let's talk about for stay. If you're going to buy a new launch, yes, you need to wait for three years before it's completed. Let's say you're going to rent a unit outside.

[00:02:13]Anyhow, put a number. You're going to rent 4,5 a month. Three years will be about 160 over,000. And those people who do not want to spend this money, they have no choice to go to resale as well.

[00:02:23]And the best of all, you do not need to rent. You do need to spend like 160 to 200,000 renting a unit for 3 years. You can move in immediately for enjoyment.

[00:02:32]And another good thing about resale at the same budget, if you buy a new launch, the size is smaller. That's the reason why good resale properties demand is very high because they want size.

[00:02:42]Many of you are pampered those HTB upgraders. Government gives you a store room for your three, four, five room flare. So when you upgrade naturally you want a store room. So with the same price, with the same budget, if you buy a new launch with no store room in the resale market, you can get something with store room or even better you can get one size bigger. Instead of three ber, you can get four ber. And some of the encounters I have is my people want to buy the address immediately for the kids school within 1 kilometer. But for new launch the time starts from if I'm not wrong the TP date something like that. It may not be in time for your kids radiation for the premise school.

[00:03:18]And in summary let's talk about performance. Many of my videos I did share that if you buy a new launch like 3 years ago at this price or four years ago at this new launch price. If you go into the resale market, you can potentially make small, which I show the numbers sometimes can be two 300,000 more than what you have made for your new launch. Resale at the same price, you can get a size bigger or in a better area instead of OCR, you can get city fringe. Now, let's go for next part. Why most agents avoid resale? Is it because it's not good for you?

[00:03:47]>> No, it's not good for them. I have a real case study which is my own family member. My sister just sold her property and right now she is going to buy the next resale property for stay. So me as her what brother of course I tell her where is good to buy m before I recommend properties to her I ask her where she like to stay which MR what size do she need a store room things like that. After I calculate her budget and her loan I will fix a budget for her. All the walkways be observant now listen to how I plan. Number one is all about budget. Then with the budget then it comes down to where are the good properties within the budget minimum size of a tree ber near MR and with good growth. So after I shortlist these few properties to her then this is what she has sent me.

[00:04:35]>> Ah your want to see right >> I show you before she go and view the property she asked this question which is a very legit question which many of you have done this before.

[00:04:44]>> Do you think Janet will want to help me to cobra? very familiar right since she know her sister-in-law which is Janet my wife is an agent so by right I should refer cases to my wife naturally >> but >> buy from seller agent easier to nego there I repeat again buy yourself is better but she still don't understand she asked >> why >> usually we buy with no agent because seller agent don't like to share commission and they will not want to sell you when they know you have a buyer agent do understand this part first you do not need to pay agent fees to engage buyer agent to source the unit for you.

[00:05:18]So it's a total free service to you. So where they get their money from? Yes, they will go broke with the seller agent. How much money? I do not know maybe 5% or 1%. Many of you will agree with me that seller agent prefer to sell to direct buyers.

[00:05:33]>> Correct?

[00:05:33]>> They will earn all the commission they do not need to share. Now why you shouldn't have a buyer agent which is doing all the things for you for free.

[00:05:40]The buyer agent will text the seller agent on the listing on property guru or n.co.

[00:05:45]>> Uh is this available? And the first thing first what do seller agents ask?

[00:05:48]If you know this means you go buy property before. If you never means you buy bubble tea before >> both are good.

[00:05:55]>> They will ask you whether you are >> agent or buyer.

[00:05:57]>> And your buyer agent will always say >> I'm an agent.

[00:06:00]>> And some of the lousy seller agent will ignore. But if you as a buyer you will tell the seller agent that you are a buyer and they will reply you with a lot of hearts because they know if they close the deal they will get all the commission. And this comes with a big problem. When there's five listings with a buyer agent, maybe you can only view one because the four of them they ignore your buyer agent. That means you are not able to see all the units. As the direct buyer, you can view all the five. I dare to say this because I am a consumer also. I buy properties and this happens for 100 years already. Again, they are good agents, but there are plenty of lousy ones. What you have learned? Going direct to the seller's agent allows you to view all the properties and you can negotiate a better price. Tell agent, >> hey agent, I got no agent. I let you earn all the money already. Help me close.

[00:06:51]>> So I'll be friends with the agent also.

[00:06:55]Help me. We are sincere buyers. We come to you direct. I say something like that. Which is true. When we are sincere, we will go direct. So in summary, even for my sister's case, I don't even refer my sister to my wife who is an agent to do resale properties because it is not effective. Seller agent may not want to cobro and ignore you and therefore my sister may lose the deal. The game plan is not to lose the deal. But some of you because you want the cob broke commission, you do this method and you lose the deal. Real case study, my onetoone member wants to buy a resale property. Unfortunately the brother or sister or the mother or grandmother is a agent who wants to cob broke the deal in the end what happens after viewing 20 30 properties they can't even get a deal not even a good deal all because seller agent don't want to co-ro with them and if I'm not wrong they got the unit 3 4 months later they went for something that allow coh then they got the deal and now think what this means this means that those resale projects are those sheet dealer one that they cannot sell for months that well seller agent welcome co you get it now or not when we talk about good projects the listings are already very limited that's why it is better for you to don't sabo yourself by having a buying agent go direct and deal with them so many of you have this very weird thinking >> then Janet don't do resale >> correct Jennet don't do resale because it's not effective because the right thing is to go direct to a sellers agent and my wife Janet she only does my top new launch projects only which is like but two three a year because she don't do the rest and I'm very proud of her. I guess she's the only agent out there who only do profitable projects. And for those people who are buying new launch and you can go to Janet, tons of experience. I'll put her IG. You got any question you can ask her. She's more pro than me. And many of the people don't know. We are ex-bankers. We have seen people who buy shitty properties lose money. Buy new launch lose money. Uh therefore we know what is good and what is And the objective of me setting up this Huaway channel and community is to be prosperous which is not to buy shitty properties at the end of the day before you buy any property. Do your own due diligence. Do your own research. But guys come on I know you so long you all buy with emotion one. Okay going back look at what they replied my sister and my sister go direct. My sister asked is this still available for viewing. Yes it is available. Before she view this seller agent replied hope is convenient to text. There's a freehole project that has just undergone fire sales because of developers tight timeline means if you buy you will be on fire also and agent being agent discount up to 300,000 depending on unit type there ask what project I want to know location in city fringe can anyone guess a bit of my sister profile my sister is a east so by right being a agent with a heart now Gen Z the heart is like ah agent with a heart will recommend East, right? You know what this agent recommend? Then my sister bets yeah looks not bad. What's the name of the project? This is Terra Hill and I don't blame them because they may be sincerely wrong. They may really think that this is the best. So what you have learned here in order to buy a resale property effectively arrange with seller agents directly so that you can view all the units in the market negotiate a better price and you have a higher chance of getting it. I forgot to touch this one. Higher chance of getting it. My one to one member say >> Eric Eric uh when we went to the unit what they are like 10 20 viewers and the seller agent is waiting for our offer first because most of them they got buyer agent they hope to sell directly to them first >> and this is the reason how you can get the unit more effectively without losing the deal. I have people who ask me this very legit question.

[00:10:53]>> Erica, I have really no experience buying resale property. That's the reason I meet a buyer agent to help me free service.

[00:11:00]>> I I put myself as someone who doesn't know don't know anything about bubble tea. I will also want someone to guide me to get something good. Unfortunately, this world don't works like that because the chances of you buying a shitty property is super high. And even you buy a good property, the chances of you overpaying is very high. And this is the reason why I tell everyone except my family members to learn. I tell them to do what they will just do. They have my guts. They have my advice. And the most important thing, they trusted me because they have tasted a lot of money. And I strongly encourage you to come for my 2 days program which I have been teaching for more than 10 years.

[00:11:40]>> Anyway, this is my 17 year.

[00:11:42]>> How to choose the right project, the right size. Do you know if you buy the right project wrong size also lose money and how to entry at a good price not overpaying for that unit and once you have master how to look at value you will not overpay the unit anymore and I say many times without knowing the value it's very easy for you to overpay by at least 50 to 100k it's very possible I can show you this example a few months ago November 2025 my member bought this for ber I told them the value of this unit is around 2.5 to 2.55 5 million and they got it at 2.38 million which I am very happy for them in less than 2 weeks time same month which is the same layout 2.5 million another one December same size as their 2.53 million this is how much you can gain from getting a good value of your property and for those people who wants to learn all these skill sets I have a webinar coming up you can click on the link here and I'll also put the link in the comment section below many of you asked me this question >> Eric if I don't have a buyer agent who does the paperwork See, I can read your mind, right? The good news to you. To buy a resale property, there's only one piece of paper called the OTP. Seller agents just need to write the price on the OTP, the exercise date, the completion date, the lawyer details.

[00:12:57]That's all. And with the OTP, you just need to send it to your banker and law firm done already.

[00:13:02]>> It's that simple.

[00:13:03]>> It's not like your HTB, which is very complicated. Okay, last part. I will tell you exactly why agents push resale aside and they sing the same song. We can sing together.

[00:13:15]>> Resale is no good. The firstand owner already make all the money already. So new launch is the best.

[00:13:22]>> And let's agree on one thing. It's not easy to be an agent because not all agents make hundred thousands every month. It's all about hard work, experience, and how good you are in the industry. So in order to make you understand this last part, everyone close our eyes. Let's imagine every one of us today are bar agent. Ask yourself this question. Is it easy for you to make resale commission from a buyer?

[00:13:47]Yes, the answer is is difficult. It's very challenging because if you contact the seller agent, the seller agent may ignore you, don't even want to reply you. They may go MIA. At the end of the day, the reason is because of the cold broke money. Whereas for new launch, if you bring your buyers to buy new launch from developers, there is commission.

[00:14:09]There's no conflict. And I hope that everyone right now truly understand it is difficult for an agent to make money purely doing resale on the buyer side. I support all the resale agents on the seller side, which is a seller agents.

[00:14:25]You have the listing, you have the control, the owner trust you, that's why they ask you to market for them. But don't be the agent like my sister's one.

[00:14:33]Instead of showing her the bubble tea that you are advertising, you go and swing to another new launch. If I'm the seller and I knows this, >> I will be very angry >> because you are not serious. And finally, you understand why agents don't recommend you to buy resale. They will always try to push you to buy new launch because new launch has no conflict on the commission. That's the reason they always say the same thing. Resale no good. Resale is not the way to go.

[00:15:01]Always buy new launch. I hope this elevate your skills. Well, not bad.

[00:15:05]>> Elevate.

[00:15:05]>> Elevate your skills so that you will know how to deal with the agents. I hope you have learned something in this video and remember to subscribe so that I will teach you more things and I'll see you in the next video.