July 21, 2007

Part-time property agents on the boom

THIS year, Ms K.C. Koh upgraded her family to a five-room flat, splurged $50,000 on renovations and even pampered her parents and two sisters with a 32-inch LCD television each.

She did all these with the $80,000 she made since January in in the property market.

What's amazing is that she is only a part-time agent.

In the first quarter of this year (2007), 4,565 private residential units were sold - more than double the number the same time last year.

Many others like her have entered the market in the hope of making some extra money.

Institute of Estate Agents figures show there are 18,500 property agents. It could not say how many of these were parttime agents.

But property agencies say the number of agents they have have doubled of late to cope with the hot property market.

Up to two-thirds of these newcomers are estimated to be part-timers.

They hold jobs ranging from engineers and lawyers to life insurance agents and housewives.