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Asset Progression with Eugene Chieng – 21x Closings – Treasure at Tampines

Asset Progression is something that you are definitely familiar with, if you are active in the industry. 

In this podcast, I invited a student of mine for a chat, he is none other than Eugene Chieng. He recently did 21 closings at Treasure at Tampines. 

He shares the experiences he has had with clients and talks about the process of acquiring them through Facebook marketing and subsequently managing an established relationship with them.

Eugene has been in the industry for 10 years and uses internet marketing, mainly Facebook, to generate leads. His time on the ground has inspired him to become a mentor to other agents, and an advisor to his clients. 

He is now a top producer in his agency and has one of the highest conversion rates.

Transcript:

David: Actually, Valerie bought this. I also know why she bought it.

  (Eugene laughs) 

Imagine what if it spills over?

(laughs)

Eugene: Hi, this is Eugene!

David: Hi Eugene.

Eugene: Hey!

(David introduces Eugene)

David: Today, my guest of honor is…

(Both of them laugh with joy)

Eugene: It’s my honor and pleasure to be with you.

David: My guest of honor is Mr. Eugene Chieng. A Top producer of Propnex.

      (Eugene laughs) 

David: Really top producer.

Eugene: Yeah. 

David: Actually, while we were talking about the top producer. You are helping people by transforming their life as well.

Eugene: That is correct, the more value we add to our customers, the better position we get.

David: So it’s like, you look for those people who are in need of help.

Eugene: Definitely.

David: Fantastic, so let’s talk about that later. So I have with me, Mr. Eugene Chieng! He is actually one of my students.

Eugene: Yes 

David: He is also very proficient in digital marketing. I think so! (laughs)

Eugene: To display one’s slight skill before an expert

David: He has been very much successful in whatever he does in real estate. He helped hundreds of hundreds of customers by transforming their property from something that is less valuable to something that has a lot more value or that has a lot more appreciation.

Eugene: That is correct.

David: In terms of potential right now, I believe that many of your clients have already profited from…

Eugene: Yes, so the minimum cash out so far is $50,000 and I think on selling, the best performance is $250,000.

David: Okay, you mean your one sale is $250,000?

Eugene: Yeah.

David: So, just to share with you first, whoever is watching this right now, if you want to make $250,000 (laughs)

Eugene: Yes, they can look for me. (Replies with a laugh)

David: I’ll look for Eugene, he’ll do his best. But today we are gonna talk about him. 

Eugene: Yes!

David: I have a lot of students, watchers who are watching this right now. I want to tell you guys Eugene came across to me as somebody who is very driven and it’s like, if you want to know something, alright. He’s the one who goes above and beyond. Just to tell you guys this is something based on my own experience, Eugene is also known as a curious kid who asks a lot of questions. But when he asks he executes it as well. 

Eugene: Yes!

David: Eugene is not like some of my students who ask a lot but never execute. I have you today in our studio, and I really want to benefit the viewers. Viewers are actually somebody who are in the real estate industry or they are somebody who is looking to upgrade their houses. To transform their current portfolio into something that’s much more lucrative. I think that we have to try to talk in both manners, so that they benefit both sides, okay?

Eugene: Definitely.

David: So first of all, Eugene, from what I know you begin off your real estate, quite a long time ago.

Eugene: Yes, correct.

David: Right, How long ago?

Eugene: 10 years, I will say or more than that. Back when there was no Council for Estate Agencies.

David: Yeah.

Eugene: My mom was the real estate agent, so I’m in the second generation.

David: Yeah.

Eugene: Then after that, I actually helped her start running cases from her, all the way back in the days where there were no agencies. My mom used to say to me “Hey, I matched a case A and B” “just go and show them the house” and then after showing it to clients then I close them. So I have met very interesting situations. 

David: Because what I know is that your mother, she is very much professional on the Rental side.

Eugene: Yes, she is an expert in the rental side.

David: But not just any rental. 

Eugene: It was called a corporate lease and it was focusing on one of the most red-light areas in Singapore.

(both laughing)

David: Yeah, and we made a joke out of that when we were in class, I remember?

Eugene: Correct.

David: We call you the, (laughs)

Eugene: yes, that is correct.

  (Replies with a laugh)

David: But, until the time when you were young and you were made to go to places like the red light areas, has it impacted your psychology in one way or another?

Eugene: Actually, it has shown me a very different side of Singapore.I think even until today you will know that Geylang itself, Balestier itself,is a very high demand rental area. It’s very easy to rent a house in those areas. In this case then you just don’t ask who your tenants are? You just don’t want to know. My mum was also very focused in the sense that she goes where all the businesses are and she started to live there. So she helps a lot of owners living there.

David: What I also know is that you have stopped doing rentals like that.

Eugene: Yes, that is correct.

David: When did you transit it into, what you are doing right now?

Eugene: I think it was about 2016.

David: 2016 and since then, what I want to know about is what you do to identify the problematic units of investments that your clients are holding? Or move them towards something that is not problematic and as a matter of fact, is profitable, correct?

Eugene: Yes, Correct. 

David: So, in most of the purchases of our clients, what they do is that they actually end up selling their so-called depreciating houses. Into a new launch project, but do they do so?

Eugene: Well, the answer is not always the new launched project. Some of my clients are those who buy resale and some of them invest into land properties as well. it’s not always a new project, but the thing is that there are many people who don’t really know what they’re doing when it comes to real estate. There’s no clear plan, when it comes to  investing a capital. Even in the stocks and shares there’s no clear plan how to invest on something.

David: Yeah.

Eugene: In this way, I learned a lot as a real estate agent. It’s an honor to have very good mentors like yourself

David: Yeah.

 

Eugene: They guided me along the way and gave me a lot of knowledge. I feel that this knowledge should be shared.

David: Yeah.

Eugene: So using the analytical tools that I have, I actually show my clients what is good for them.

David: Yes.

Eugene: So basically, based on their current circumstances, is getting another Harmes Turner Brown is better for them?

David: Yes.

Eugene: Or condo, a new launch or resale is better

David: So, you advise them accordingly?

Eugene: Correct.

David: By the way you mentioned, I actually shared something with you.

Eugene: Yes.

David: What I shared with you is, how to find out who are these people, who need help and to identify them so that they will be able to reach out to you,

Eugene: Correct.

David: That’s as an internet marketer

Eugene: It is Very important to identify & target the right group.

David: But I think what you mentioned is the thing called the “Analytical Side”. What you said: A lot of home buyers and home sellers in Singapore, they are not equipped with the kind of knowledge that allows them to make the right decision.

Eugene: Correct.

David: I think, these things that are not taught in school.

Eugene: Correct, but these are the things that should be taught and they are not taught.

David: Yeah, unless it’s called Pythagoras Theorem

(both laughing)

Eugene: You mean A squared plus B squared?

David: Yeah, so, therefore, if you buy a property and it is so easy then there’s no need for agents.

Eugene: Correct, that’s right.

David: So I think, you take off less, it’s not even an agent’s role anymore. An agent’s role is to transact A to B. I think it has become an advisor role that you’re actually doing, am I right?

Eugene: Yes, that’s right, I hope to add value to my customers but not only customers, even to my agent friends who approached me. I actually share my knowledge of how I do things with my clients. I have been invited to share on an open stage in Propnex as well to share what I know, and how I deal with my clients. Because I believe in paying it forward adds value just how you do it when you conduct your courses, you throw so much knowledge on two people.

David: You can tell, right?

Eugene: Yeah, that is correct. you just feel so much about your customers, that you start thinking “Wow, this is… no regrets, I have no regrets attending to them.” 

David: Have you regret paying my course fee?

Eugene: I wanted to see how much it is? But I don’t regret it. Definitely it was worth it.

(David laughs)

Eugene: And you’ll make that multiple times over, right? So that’s what I do for myself. I really want to do the same, so I’m very inspired by what you do by giving more value than.

David: You’re making me blush now.

(Eugene laughs)

David: But Eugene, the thing is that, in order for you to reach out to all those people who are in need of help, what is the main channel of getting to all these people?

Eugene: The main channel of finding these people? I only use Facebook, that’s my main channel.

David: Right.

Eugene: Facebook and of course word of mouth. These are the two main things, But 90% of Facebook.

David: 90% Facebook?

Eugene: Through different ads.

David: So what I’m getting from you is that, I would say through  Facebook marketing you are able to reach out to a lot of people who require help. But then do you think that there are a lot of agents who know how to do Facebook marketing, but they don’t know how to handle the situation? 

Eugene: I will say yes, because when you call five different agents or 10 different agents. So upon asking them what’s missing, they just cannot click. Something is missing the conversation. So when you speak to them, the ability to convert is very important. You still need to understand where they are.

David: Right, so in terms of Facebook marketing, I believe there’s a lot of people who actually are running Facebook advertisements, correct?

Eugene: Yes.

David: Do you believe that, most of them, they know more or less what to do when it comes to Facebook marketing, but when it comes to handling the clients, they don’t know what to do.

 

Eugene: Yes, I would say that most of them will not know where to meet the customers. I think that is the basic thing. When I meet with those customers, all of them have already met several agents or four to five agents and then I will ask them, so what is it that you’re looking for and to them right, it is having someone to think in their correct position. Think from their position and think from their perspective how to plan it properly.

David: Agents always fail to think like that.

Eugene: Yeah. 

David: Correct, because they don’t think as an agent.

Eugene: Correct.

David: As in they think as an agent 

Eugene: Yeah, They think as an agent.

David: But they don’t think as an advisor.

Eugene: Correct.

David: Correct, so to make the most sound decision, because based on what I know is one of your buyers, not most of them, as we have discussed about it some of them buy landed properties. So they buy Harmes Turner Brown as well. It’s all due to their situation, right?

Eugene: Correct.

David: But how is it that some of them actually most of them ended up buying projects, I noticed project Treasure…

Eugene: Treasure At Tampines? Yes.

David: Why is it that Treasure At Tampines out of so many projects that you have done. I mean, you, you did 20 clients over there?

Eugene: Right, 21.

David: 21 clients over there. So I’m just wondering, why is it that you are so focused in Treasure At Tampines?

Eugene: Correct. So, for me I actually have a system to analyse of course per square foot, entry point, transactions in the area and not only that, the rentability, then the possibility of upgrade, all these are part of my analysis system, Treasure At Tampines fit all of these requirements.

David: Okay, 

Eugene: Having said that, in every project there are strong units along with weak units. So you have to analyse your entry point as well. So, for my clients even though they are buying such a big development as in all things that are good and bad for each unit. So, I help them select the best based on their circumstances, not only that based on the entry price that they are going for. Somehow you know in your mind if people are able to buy at a higher price point than through that you’re guaranteed a profit.

David: Yes? So, there is actually a spread you were saying.

Eugene: Correct.

David: What is the highest per square foot, do you have any idea?

Eugene: So, let’s say a metre is about $1.7k, $1.6k. I mean, in Treasures or in the area? Let’s say generally people are okay across the board about $1.5k, $1.6k per square foot  but if you’re buying  $1.3k, $1.4k, you’re definitely there.

David: Super profitable.

Eugene: Yeah.

David: Okay, so Treasure fits that criteria?

Eugene: Yes, that’s right.

David: So, is it right to say that, for people who’re watching this right now, if they are not an agent.

Eugene: Yes.

David: And if they were to contact you and they are okay to buy, to invest, you also recommend Treasure?

Eugene: No, it depends on profile and on the day, Some of my clients can easily buy more expensive units. They can buy maybe town, maybe Marina. Some of them can even buy Sterling. Some of them also can buy more expensive projects present there. But in the end, why don’t we go back to a lower quantum unit? It’s to set them a safety net. Because for me, that’s very important during the COVID. Actually more of my clients called me back and thanked me that they found the cheaper unit, and the one they wanted. 

(David laughs)

Because right now jobs are impacted then they are able to last the next three years 

David: without heavily committing, right?

Eugene: Without worrying at all.  That means they said, “Hey, thank you”, I got three years of back up. I don’t even need to care about the market areas. I just focused on my job hunt because my new house is just done. So it’s not always one project is the answer but it’s the project that fits you comfortably, 

David: Yeah, it means it’s for the profile of the person that you meet.

Eugene: Correct. The profile. 

David: Because, when you do Facebook marketing, you get to meet different kinds of people, right?

Eugene: Definitely.

David: And some of them, they are super well to do.

Eugene: Yes.

David: Some of them, they could be just trying to upgrade to a condominium.

Eugene: Correct.

David: And there are also some that obviously cannot buy.

Eugene: Correct.

David: So, under the current situation where you’re meeting people

that totally cannot buy, how would you advise them, did you have clients like that?

Eugene: I have one more memorable client. He has seven kids, and he wanted to upgrade so badly, he was saying, ” I have already seen the flat”  and after that he buys one bedroom,

(David laughs)

Eugene: I said to him, this is not how you do things.

David: Did this guy meet you in Hong Kong?

 

Eugene: This is a local Muslim couple

David: Okay,

Eugene: He talked to me and he said, I’m referred to by these people and I have already seen the flat and I’m ready to buy this “one bedroom flat:”.

David: Right.

Then after that I wanted to go through his financial matters and asked him why you want to buy the one bedroom? He said, “Because my unit in housing & development board area  was a very bad choice but now I understand this one

David: Okay. 

Eugene: His house in the housing & development board was a negative sale.

David: Okay, Was that due to the expiration of Means of Platts in Singapore contract and resulted as a negative sale?

David: Correct, so I was quite shocked.

Eugene: He’s in Yishun, one of the clusters where 

David: I live in Yishun as well.

    (both laughing)

Eugene: So of course, he paid a little bit more upfront and that’s why the accrued interest overrun a little bit more.

David: Right.

Eugene: And the housing & development board prices are also not very strong.

David: Right, right, right.

Eugene: So, after going through his case, I told him actually, do you know that with your income you should use the government grants and all the other methods available as well then we can also help you get your loans.

David: Yeah.

Eugene: Then you can get a bigger unit for yourself. Through this procedure you are saved to get a second unit and not jump in the one unit.

David: So, this person bought a resale?

Eugene: Yes, he bought a resale.

David: Okay.

Eugene: Bought a resale of five rooms. He went for resale from a Build To Order four room to a resale of five rooms.

David: Okay.

Eugene: Not only bought a bigger unit but with a valid Means of Platts Singapore certificate.

David: This is for fulfilling the need of the person, right?

Eugene: Yes, correct.Instead of jumping straight into the unit.

David: Did the person actually buy the resale? because the House and Development Board also has some kind units For example; In Yishun, Woodlands.

David: Yes. Those other places? 

(laughs)

Eugene: Correct, I’m also from Woodlands

David: These are the places that are more affordable. These are also areas where the growth is not that big.

Eugene: Correct.

David: And so where did he end up buying it? 

Eugene: He bought in a similar area because he was in the preparation of his next purchase.

David: Okay.

Eugene: The time around when he was buying he didn’t fully wipe his central provident fund.

David: Right.

Eugene: He leaves the central provident fund aside to grow slowly and set up as an emergency fund. I told him we have a plan for you every month you must save X amount.

David: Right.

Eugene: So that by the end of five years you have a handsome amount that will enable you to go for an “Executive Condominium” unit.

David: Right.

Eugene: Because for him size is important. He needs to have the size for a big family. His wife is not working, so even though he himself can afford a one bedder or even two bedders, that’s not the correct solution for him.

David: And it doesn’t fit the need

Eugene: Correct.

David: Okay.

Eugene: Where is he going to stay?

David: Yeah, stack the solid part called dormitory?

Eugene: Dormitory, correct!

David: So you did reject people?

Eugene: Of course.

David: Okay.

Eugene: It’s always a struggle. if I say that there’s no struggle that is totally wrong. So it’s always the struggle, but the thing is for me I feel that, in the long run because we’re not here for one “Hit and Run” then disappear after three years we are here for the next 30 years. When people name hear David Chong and Eugene  and they will react as “Wah, these guys were good”

David: Up right people?

Eugene: They won’t say that I spit saliva on it.

David: Really, there are people outside there who spit saliva.

Eugene: Yes, correct

David: One of the things that we can do in our life, is to be real.

Eugene: Correct.

David: Be genuine, be real by giving really good advice

Eugene: Correct.

David: I give my students advice as well. Sometimes I feel like I’m just really going above and beyond.

Eugene: Definitely.

David: Me and you are like brothers.

Eugene: Correct. We have gone for birthday parties and all that

David: Yeah, barbecue, birthday party, go to your house, be with your one years old baby, I’m always there.

Eugene: Yes.

David: It’s been like this for a long time and I think our relationship, especially.

(both laughs)

Okay, great, so Eugene, right now, let me ask you this question. For somebody who is because I see a lot of news but also in terms of advertisements outside there, it says that you no need to come up with cash.

(Eugene laughs)

And you can outgrow it to multiple properties.

Eugene: Yes.

David: Is there a certain truth to that?

Eugene: Okay, actually a lot. Almost in every alternate I get from Facebook messages people will ask about this.

David: Yeah.

Eugene: Well, if you want to know technically then yes, it can be done. Technically. Should you do it? That’s the question, right?

David: Right.

Eugene: And whether it is suitable for your needs at the moment.

David: Yes, Because I’m seeing a lot of advertisements that goes different from your advertisements. So I’m just wondering what is the psychology behind, why is it that people are advertising in that manner? Do you have any idea why they do that?

Eugene: I think people are appealing for the fast money thing just like stocks and shares

David: Yeah.

Eugene: If they treat us the pros then they do trade, they also don’t go for the quick game.

David: Right.

Eugene: Fast in, fast out, most of them go for a long term game. Real estate also like that, you must see it as a long term and not just hoping for a 4D or win-4. 

David: It’s a very different process.

Eugene: Correct, and you have to be patient about it.

David: So, if I’m not a property agent I would definitely be looking for some properties to buy at one point in my life.

Eugene: Definitely.

David: how does a typical person identify who is the right agent to work with in this area? because you are an agent I was formerly an agent but I don’t think I’m in a good position to answer that because I don’t help people upgrade houses basically I focus on new launch projects or direct marketing and launch projects. So I’m just wondering how a person identifies such a person? An agent or adviser?

Eugene: I think the better way to think about it is how would I select an agent for myself?

 

David: Right.

Eugene: If I do that, I will actually look for someone who actually walks the talk. 

David: Right.

Eugene: That means, he himself already owns the properties that he’s talking about. Something that’s very important.

David: Did you invest in Treasure?

Eugene: Yes, I have co-invested but this is a little bit sensitive.

David: Co-invest. Understood, I know where we are going.

(both laughing)

Yeah, but I think at the end of the day, it is through what kind of vehicles that you invest under. As long as you invested you walk and do the talk and that’s what you’re saying?

Eugene: Correct.

David: Okay, so Treasure at Tampines is confirmed as a very good buy. You bought it yourself?

Eugene: Correct.

David: So, for asset progression wise this is the term that’s being coined but there are other words for that.

Eugene: Yes, Many many.

David: How do you determine what is a depreciating asset or that they are actually owning assets like a “House and Development board”. Why is the “House and Development Board” a depreciating asset?

Eugene: Not all “House and Development Board” are a hundred percent depreciating. You see it in certain clusters maybe, maybe in Serangoon where there are not many “Build To Order”. The value holds. In fact, the value is quite good.

David: Okay.

Eugene: But if you look at it you just need to do your math yourself. Very simple, how much the value of your current home versus how much the central provident fund you already paid with interest. After you run the figure then you do a projection with the central provident fund accrued interest, after you do how long when your house runs out of value.

David: All right.

Eugene: Because the “House and Development Board” is no longer growing at the rate that it used to. “Build To Order” will still make you money because it started cheap. 

David: Yes, that’s the fact.

Eugene: But those resale flats are the ones that really get quite interesting.

David:  So if I’m a young couple and I bought a “Build To ORder” for example, me and my wife we’re getting “Build To ORder”. Would you encourage us to sell it?

Eugene: I would see the numbers first.

David: Right.

Eugene: In general, you would ask yourself why you buy the “Build To Order” in the first place? Because, is the profit worth the time? Many people forget the time stone, the most important infinity stone. So they forget the time stone. They treat 8 to 10 years for the amount of profit maybe 100K

David: Yes.

Eugene: But, through a proper purchase of a new launch, you could easily make that in three years

David: But let’s say for a young couple who are totally young cannot afford a new launch project then it is different again.

Eugene: If that’s the case, then you have to analyse and see if you can make use of the grants to buy resale. So you save on time.

David: Right.

Eugene: Then through that you are in the house, as you pay your down payment with the grants that you get. You actually get a solid start and plus your own savings are growing and you’ll be able to move forward in your next progress. I see that the government has a very clear and interesting system that you progress from “House and Development Board” to “Executive Condominium” and “Executive Condominium” to condo. The down payments just seem to add up if you go and do the calculations, it just adds up then you progressively move forward to the second property and so on. So the government actually has a plan.

David: Yeah.

Eugene: So in the words of the East coast plan. The government has a whole Singapore plan. It’s just whether we know how to make full use of it.

David: Right. What about people who already have bought “Build To Order”? Would you encourage them too? Because this is the same question. I’ve seen a lot of people who bought “Build To Order” and it is profitable but then the price stagnates.

Eugene: Yeah.

David: As in what I’m not a professional anymore. I teach a lot of top producers, a lot of top agents. But I did see this trend happening after TOP the price stagnate forever.

Eugene: Yeah.

David: Is that the reason why it is depreciating, because it stagnates.

Eugene: The accrued interest continues.

David: Correct, so in other words is it safe to say that interest actually goes back so when you pay actually it goes back to you

Eugene: It does, It goes back to yourself.

David: But the problem becomes that at one point in time it becomes so negative that you cannot even talk about it correctly.

Eugene: Then you have to waive it off, If you do that and it becomes time wasted, all the money and time that you have invested is wasted because $1 today and $1 in 10 years time is not the same.

David: Yeah.

Eugene: Many people forget, they say, actually I bought 180K 10 years ago but today I sold this and it got me to make profit. But if they had sold earlier their profit could have worked harder for them. So these are the small gaps in knowledge.

David: Right.

Eugene: That really hurts people.

David: Right.

Eugene: Yeah.

David: So, most of your clients that end up being your client upgrading houses and all that, have they all understood this particular concept.

Eugene: Yes, I go through a very particular system and I explain, that’s why my meetings are not short.

David: Right, how long typically?

Eugene: After the first 30 to 45 minutes of time I make sure they’re okay. Then we go through another session that takes about an hour plus or two hours to explain why they’re doing it. It is important to know why the agent is saying all this because many people like to “Huh, okay don’t do lor” but they don’t understand. In the meantime know what you’re doing. This is the biggest life thing, because when I walk away from you, who knows and when I’m no longer around-

David: Another agent comes in?

No, another agent comes in with a different and a very weird sense of support. You will know the correct thing and the wrong thing.

David: Right.

Eugene: And only that you’re able to take care

of yourself after that.

David: Right

Eugene: Because, I hope that the moment I touched the client’s life, right.He at least has a direction for his retirement.

David: Okay, so you meet with them and think of them for the next 30 years.

Eugene: Yes, so at least they have a direction. Even if they don’t want to, they’ll say, I don’t like your face or I don’t want to work with you anymore.

David: It happens to me, that happens to me.

Eugene: Correct, right?

  (both laughs)

So then at least they have a direction for the rest of their life. They know that okay, Eugene has told me about this plan A, and from plan A what do we do to plan B? and from there plan C, so this is how you’re gonna step. Then from there, whether you wanna engage me or not. I hope they engage me as this is everybody’s wish

David: Yea, Of course.

Eugene: But if they choose not to, at least they will know you, when we reached the end of the day and when I meet them at age of 65 years old on a coffee shop,

David: You will say Hey, you that man?

Eugene: They will not say, I don’t know. But they will say “You told me but I didn’t do it” it is a different thing.

David: Understood, so have done so many different projects, you have found a lot of projects that are really worth off. The ones you found that are really worth investing in. So, if you were to name a few that have really been very good for your clients in the past and now, which one would they be? I know that you today just transacted another unit, correct?

Eugene: Yes, correct.

David: It was JadeScape. So first of all, congratulations, you did it through Facebook?

Eugene: Yes, through Facebook marketing.

David: Okay, so my question is under what situation have we decided to go for JadeScape? Because I am aware that you don’t normally transact that.

Eugene: Yeah, I think it’s because of the current promotion, a few discounts. It’s not just one, there are a few discounts going on right now that make it very attractive that you enter below the 50th percentile. So that’s why they already have the 50th percentile as their buffer.

David: Okay.

Eugene: So that’s why I’m quite excited for them. When they choose the unit I’m actually quite happy for them.

David: That means, almost can say that you have 50% of other people who are more expensive than you. So why is there such a discount? Is it a public knowledge or not

Eugene: It’s based on public knowledge. If you don’t find out then you won’t know.

David: So I presume that you have brought this client of yours there?

Eugene: Yes, of course.

David: And then location, I think JadeScape is quite a good location.

Eugene: It’s next to the Metro rail station, Shunfu Metro rail station.

David: Shunfu MRT station, which is a new Station so maybe that’s one of the reasons. I have students who transacted quite a bit on JadeScape last weekend, Ivan actually two weeks ago, I cannot remember.

Eugene: I think it was two weeks ago.

David: Yes, He told me in class. Last week he did treasure also. Apparently treasure is quite an easy choice to make.

Eugene: It is, actually, if you just look at one of the biggest clear things is the amount of transformation that’s happening in the Tampines area.

David: Right. and the price is super attractive.

Eugene: Yes, super attractive.

David: So hopefully, whoever is watching this video right now, by the time they contact you-

Eugene: It’s still available?

(both laughs)

David: Still available.

Eugene: Because there is a point in time where you stop selling

your project as well. So I believe I only sell what I buy.

David: Yeah.

Eugene:This is something that’s bothered to many,

David: Exactly, I only teach what I do.

Eugene: Yes, correctly. So I think this is a guideline that never goes wrong.

David: Yeah, Never do unto other people, what you don’t want other people to do what you don’t, am I right?

Eugene: Correct.

David: Based on your career so far and based on what you have done so far have you ever dealt with a situation whereby your buyer has lost money?

Eugene:Yes one of the cases, right, where the customer lost money was because he refused to listen to me.

David: What happened?

 

 

Eugene: I told him about this.

David: Thanks for your honesty by the way.

Eugene: No problem, I’m sure that nobody hits hundred percent all the time.

David: Yeah.

Eugene: So for me, this case was unique, because I told him to get the 99 year property.

David: Yes.

Eugene: A site, but he insisted on getting the free hold.

David: Okay, on both new launch projects or?

Eugene: Both were newly launched side by side in Bukit Timah

David: I know which one already.

Eugene: Yeah.

(beep)

Eugene: No, we cannot say the project name. Because the project is not earning and not profitable. So that’s why he insisted on that, I told him but I didn’t verbalise properly.

David: Yeah.

Eugene: So that was also a big regret of mine.

David: Right.

Eugene: I didn’t tell him everything that I knew I just let it go. 

David: Thanks for your honesty man. Is that the only case that happened, or?

Eugene: Of course, once in a while, definitely.

David: Once in a while you will have this kind of situation. All right, what is your main focus in terms of helping your clients, is it still gonna be the same things that you’ll be doing?

Eugene: Yeah. 

David: Advising, one-on-one, then if it is a lot of work,

Eugene: It’s a lot of work, but it’s very rewarding when you have clients who cash out or when they are in crisis, especially this crisis, I got back a lot of gratitude from my client.

David: Like Jail visits now?

(Eugene laughs)

there’s a button to press.

Eugene: Yeah, I need to-

David: Then press.Then got guard behind.

(both laughing)

Eugene: Got guard behind, “Hey Timeout”

David: But really, there’s a guard behind you. Look behind you?

(both laughing) 

yeah, Dickson is there (laughs) So you’re saying that the crisis right now, it is an unprecedented crisis.

Eugene: When the clients realise that if they have bought the original property that they buy, which would be more expensive and they couldn’t have afford versus now what they got and they complained that it’s like basic or it’s ugly or whatever. But the thing is now they’re able to hold onto it. Then the point coming back is really quite amazing.

David: They actually take you up.

Eugene: Yeah, they call me “Heng hey buy this one if I buy the other one I die”(laughs)

David: Speaking in terms of agent’s perspective. Sometimes new launch projects, certain projects have so attractive commission that makes you want to go towards that.

Eugene: Definitely.

David: But it doesn’t profit.

Eugene: Yes.

David: Correct, So I know one in novena that has ended up (laughs). Yeah, that is one of them as well. At the end of the day, we just have to sell what we will buy.

Eugene: Correct.

David: And if we can, we can also go and buy. I think that’s the best way of it for example, viewers want to contact you right now, because we have taken quite a bit of time as well. I just don’t want to take up too much of your time.

Eugene: Sure.

David: So let’s say viewers here they are somebody who is looking to upgrade their real estate portfolio into something that is very profitable or into something that’s less risky or not depreciating and they need an advisor to talk to. How can they reach you?

Eugene: They can easily search for my name, Eugene , or they can always call me.,

David: So to contact, they go to YouTube and-

Eugene: No, on Facebook

David: Facebook?

Eugene: Search “Eugene ”, you’ll find me there.

David: Okay-

Eugene: – Yeah.

David: But if they were to go to Google and search for Eugene  will they find anything?

Eugene: – Yeah, I think you’ll find.

David: They’ll find something?

Eugene: They’ll find my Facebook page that one.

David: So how do you spell on it then?

Eugene: E U G E N E.

David: That’s the normal Eugene right?

Eugene: C H I E N G with an I.

David: And that’s the abnormal one!

Eugene: Yeah with the abnormal one. 

David: Eugene ?

Eugene: Yes.

David: Ok, Ching, Ching, Chieng.

(Eugene laughs)

David: That’s why I call you that. So viewers, if you wanna contact him, you can contact him? But right now I want to check with him. Is it okay that I just check with you?

(both laughing)

So do you have any hobbies?

Eugene: Hobby? Yes.

David: what kind of hobby is it?

Eugene: Recreationally, I play magic (laughs)

David: Magic, the gathering? But I don’t see you online.

Eugene: No time for that. When I’ll got time I’ll be online.

David: But, this is a recent hobby when you come for the receipt.

Eugene: Yeah, correct.

David: Then inside the room that you see me doing what, right?

(both laughing)

So you’re a magic gathering player for how long already?

Eugene: Actually been playing around for almost 20 years. It is very long in between got very long (laughing)

DavidL So the Black Lotus era is it? Mine is quite recent and it is four years old. I participated in the grand prix, at the expo.

Eugene: Great!

David: I went and I almost made it the second day.

Eugene: Really?

David: Then I decided to lose intentionally because I realised that for me to go back was a waste of my time because I was calculating based on time span and income, even if I win or I lose.

Eugene: Yeah, cannot justify.

David: So I only went out to play for like one day then after that I decided that it’s a waste of time.

Eugene: It’s fun interaction.

David: The price hook is not attractive enough. I was there to play for a while. So apart from magic, I do play like what do you do? Do you play Dota?

Eugene: Not Dota, Killing Floor, Steam, Killing Floor 2.

David: Okay, you know one funny thing and it is the most funny thing that has happened recently is you bought a 144hz laptop?

Eugene: Yes, and I didn’t know how to make full use of it

(both laughing)

David: And what the hell, man? I’m looking at your laptop and then I’m thinking why is it so lag?

Eugene: Why is there flicker?

David: Why is there flicker? You know what I did, I went and changed it to 144, it was 16. You don’t even know how to use this. You’ve been working too much, too hard to help people make money.

Eugene: That’s right.

David: Then you bought a very good laptop of 2 or $3,000 and you don’t even know what to do with it.

Eugene: The number of times I am on the laptop, I can count it on my fingers.

David: Give it to me or buy me a laptop man?

Eugene: My iPad is used until the bone already whereas my laptop is just sitting there.

David: Yeah, so okay, fantastic, Eugene. So if we want to catch you in magic the gathering online, that’s a bit hard to add right?

Eugene: A little bit harder,

(both laughing)

David: Yeah but, if you end up as his client or when you play magic-

Eugene: I’ll share with you guys.

David:  He’ll share with you how to add together, and you can play together. Eugene! Thanks a lot for your time so far and I’m really very happy that you’re here today and we should have another session soon.

Eugene: Yes, definitely.

David: I really appreciate the chance to be here today, by the way, last question for all of the viewers who’s watching this right now. Who wants to become an Internet Realtor? Have you read the book by the way?

Eugene: Yes, of course.

David: It’s the one over there, can you grab one copy.

Eugene: Wait, hang on.

David: Yeah, if we can summarise this book in one or two sentences, what will you say about this book?

Eugene: I would say it’s a gateway. A gateway, or this is the red or blue pill, when it comes to choose the correct pill then you will see the world of internet marketing very differently.

David: Yeah.

Eugene: Especially for those who don’t know what red and blue pill is, not drugs, it’s just a matrix.

(both laughing)

David: Matrix, exactly. Definitely not the one in the blue pill in-

Eugene: No!

(both laughs)

David: So this is the red or blue pill then?

Eugene: Is the red pill.

David: This is the red pill.

Eugene: Yes.

David: Yeah, it’s red in colour by the way.

Eugene: Yeah, it’s red in colour.

David: It’s red in colour by the way, so you finished this book and you think that is a red pill, why?

Eugene: I think it’s a gateway because it’s the choice that you make.

David: Yeah.

Eugene: The choice that you make after you read it.

David: Right.

Eugene: It will change your perspective of internet marketing. I think that’s the main thing.

David: Yeah.

Eugene: And for sure, you will not regret paying that money.

David:  Nine dollars

Eugene: Nine dollars? It’s way more than that.

David:  So if you can say, it’s actually the red pill of-

Eugene: In case I get it wrong the pill that enables you to see the truth.

David: The truth?

Eugene: Yeah.

David: But actually it’s very informative. 

Eugene: It is, it’s very complete already it’s just that, why I say it’s a pill is because you have to make a choice after you do this.

David: Right.

Eugene: And if you make the correct choice, you will be able change the entire perspective of how you see internet marketing.

Dvid:  Do you think that they would be able to reach out to clients who need help? Using this, what did they learn inside here?

Eugene: Definitely, but of course, how they want to handle the clients that’s very important also.

David: That they can learn from you.

(both laughing)

Eugene: Hopefully, given another chance to.

David: Yeah, but if you’re from ERA and management team watching, I’m not trying to

(both laughing)

He is my student and I feel that we are all one circle, eventually-

Eugene: One group.

David: One group, one big real estate group.

Eugene: Yes, One big real estate group.

David: So this book is the red pill, can I have it?

Eugene: Yes!

David: So this book is a red pill and I fully agree. So if you are interested to find out how digital marketing can be done to get clients, like how Eugene has gotten to help people buy Treasure at Tampines, JadeScape and what else?

Eugene: Parc Clematis

David: So and so forth. I believe that the best way to reach out is through the internet and the best way you can help your clients to reach out as much as possible. Use this book, it will help you.

Eugene: Going through the book, really make a choice at the end of the book. I think making that choice is very important.

David: Okay, Eugene, this is the third time. I’m gonna say goodbye to you.

Eugene: Okay, take care. Never ending of the topic(laughs)

DavidL Yeah, we should really do one more session next time.

Eugene: Definitely.

David: And thanks a lot Eugene, once again.

Eugene: Enjoy.

(claps) 

David; Thanks a lot Eugene for your time-

Eugene: Thank you.

David: You’re a top producer and this time has been very precious to me and yourself as well. Thanks a lot for attending today, take care.

Eugene: Yes, thank you.

David: See you.