In the real estate circles, Randall How is now known as the “subsale expert”.
At the relatively young age of 32 years old – he is often asked to speak and conduct training for older agents on how to navigate the subsale property market.
In the competitive world of real estate, it takes a unique blend of skills, knowledge, and fortitude to find and excel in a specific market niche.
With a passion for helping clients navigate the intricacies of buying and selling subsale properties, Randall has slowly but surely become the trusted name in the Singapore real estate industry.
But how did he get there?
And more importantly why is the subsale niche so unique?
How It All Started
Randall’s journey in the real estate industry began with an unexpected twist.
After studying food science, he found himself working for a firm dealing with US property. Through their sponsorship, he obtained his realtor license and embarked on a career in the field.
However, it was a life-changing moment that prompted him to pivot towards the Singapore property market.
Being held at gunpoint during a renovation project in the US made him reevaluate his priorities and seek the safety net of Singapore’s property market.
With his license in hand, he decided to embark on his journey in real estate but it was until 2021 when he found his calling in subsale properties, setting the stage for his future success.
What Is a Subsale?
Before diving into Randall’s expertise, it’s important to grasp the concept of the subsale market. In simple terms, subsale properties refer to units that are being sold before the Certified Statutory Completion (CSC) is obtained.
These properties are typically resold by individuals who have purchased directly from developers but wish to sell before the completion of the project.
The subsale market presents unique opportunities and challenges, making it an intriguing niche for both buyers and sellers.
How do you sell properties that are not even completed and not even ready for even viewings?
“Subsale itself, it means that someone probably bought direct from developers and then before the CSC but most transactions happen just before TOP, before they collect keys, they want to sell off the development”
According to Randall, subsale properties often carry a certain stigma due to misconceptions surrounding their quality or value.
Buyers also often express concerns about not being able to physically view the unit and uncertainty about whether they are paying the highest price for the project.
However, he believes that these misconceptions can be debunked by understanding the nuances of the subsale market.
To address buyer’s concerns, Randall relies on his extensive experience in the subsale market to provides assurance and guidance to the buyers, helping them understand the potential growth of their investment.
He further assists his clients by helping them select the right unit type and facing, based on his knowledge and expertise.
In a recent interview, he shared a personal case study that sheds light on the advantages and potential of investing in subsale properties.
“During my time in the subsale market, I encountered a property that was initially overlooked due to its subsale status. However, upon closer inspection, I discovered that the property was located in a prime location with excellent growth potential. By acquiring the property at a below-market value, my client was able to secure a substantial profit when the property eventually reached completion.” – Randall How
Advantages of the Subsale Market
The subsale market offers several advantages for buyers and investors who are willing to explore this niche. One significant advantage is the potential for acquiring properties at a lower cost compared to the primary market.
As developers often offer discounts and incentives to early buyers, purchasers in the subsale market can leverage these opportunities to secure attractive deals. Additionally, subsale properties are often in prime locations, providing buyers with the potential for higher returns on investment.
Randall believes that subsale properties are particularly attractive to individuals who value convenience and a shorter waiting time. Unlike properties in the primary market, subsale properties are closer to completion, allowing buyers to move in or rent out the units sooner. This appeals to those who are looking for immediate occupancy or seeking to generate rental income.
Randall’s strategies for subsale excellence
To excel in the subsale market, Randall employs a range of strategies that ensure his clients achieve attractive profits. One of his key approaches is targeted marketing, where he focuses on highlighting the unique traits and advantages of each property.
By tailoring marketing efforts to appeal to the right demographic, Randall maximizes the property’s visibility and attracts potential buyers or investors.
Another strategy that sets Randall apart is his ability to negotiate above or below market value through the use of commission. By offering a competitive commission structure, he incentivizes agents and brokers to bring in potential buyers, increasing the likelihood of a successful transaction. This approach not only benefits his clients but also establishes strong relationships within the real estate community.
Finding profit in a niche
Randall’s track record speaks for itself, with numerous successful subsale property transactions under his belt. One notable example is the Riverfront Residences project, where he achieved exceptional results for his clients, up to a tune of $170,000 in profits for some clients.
By leveraging his expertise and market knowledge, Randall was able to secure attractive prices for both buyers and sellers in this highly competitive development.
The subsale market presents a unique challenge due to its niche nature. While other property agents may be unfamiliar with its intricacies, Randall’s specialization allows him to provide unparalleled service and expertise.
His in-depth understanding of the subsale market, combined with his negotiation skills, ensures that his clients consistently achieve outstanding results.
Coupled with his ability to negotiate attractive profits for his clients in this niche market has also in turn led to a steady growing stream of transactions, which he predicts would continue towards an upwards trajectory in the months to come.
The Future of the Subsale Market
Looking ahead, Randall predicts a promising future for the subsale market.
With the current economic climate and evolving buyer preferences, he expects an influx of interest in subsale properties. Investors and prospective buyers are increasingly drawn to the potential cost savings and shorter waiting time offered by these properties.
Randall advises individuals looking to enter the subsale market to seize the opportunity now, as it presents a favorable environment for investment and growth. He believes that with an increasing number of projects nearing completion, there will be more subsale properties coming onto the market. This could present more opportunities for buyers to get a better deal.
Demographically, Randall anticipates that young professionals and families seeking convenience and immediate occupancy will be the primary demographic considering subsale properties. Their current concerns revolve around finding the right property that suits their needs and offers good value for money. By leveraging his expertise and market insights, Randall aims to guide these individuals through the process, ensuring they make informed decisions and secure their dream homes.
The Randall How Difference
What sets Randall apart from other property experts is not only his specialized knowledge but also his dedication to providing exceptional service. He takes the time to understand his clients’ unique needs and preferences, guiding them through every step of the buying or selling process. With his approachable and trustworthy demeanor, Randall has built a reputation as a reliable and respected advisor, offering personalized solutions to his clients’ real estate goals.
By understanding the intricacies of the subsale market, leveraging strategic marketing and negotiation tactics, and maintaining a track record of success, Randall has positioned himself as a go-to expert for buyers and sellers in this niche. As the subsale market continues to evolve and thrive, Randall’s invaluable insights and guidance will undoubtedly empower clients to make informed decisions and achieve their real estate aspirations.
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