Leaving behind his decade-long corporate sales career to pursue his interest in real estate, Darren Khor went on to set up City Crest Realtors in November 2013 and he has never looked back since.
He shares with REENA KAUR BHATT his agency’s approach to meeting clients’ needs and strategies in dealing with the slowdown in the property market.
Can you tell us more about City Crest Realtors?
City Crest is a dynamic real estate agency based in Kuala Lumpur – currently, our team consists of 26 real estate negotiators and agents. Our agents commit to delivering the most professional real estate services, focusing principally on our customers and their specific needs.
Whether you are renting, buying or selling, our agents will provide you with the latest updates and market analysis to help you decide on what is best for you. We also carry out project marketing for developers. Some of our deals include Expressionz Professional Suite by Exsim Group; KL Ecocity condo and offices by SP Setia and ContiNew@Jalan Tun Razak.
What challenges have you faced this year and how did you overcome them?
The sub-sale market saw a huge hit – transactions have dropped by almost 30%. We are taking this all in our stride, though – at City Crest, we constantly strive to make improvements and adapt to the current needs of the economy. The agency will continue to grow by hiring more negotiators and my team and I will be switching our focus to project marketing and industrial properties.
What is your outlook on the 2017 property market?
Do you think people would rather buy or rent properties? The secondary property market might see a slight recovery but it will still be somewhat soft due to the oversupply, sluggish rental market, and low home loan approval rates.
Sentiments and stringent bank lending measures aside, I would think that most people prefer to buy instead of renting.
How will you address any future challenges and what do you think should be the current focus to take your agency to the next level of success?
It is easy to blame the poor market sentiment and a depreciating Ringgit. However, we have always focused on problem-solving at City Crest.
I choose not to dwell on circumstances I cannot control and will continually lead my team to do our very best for our clients in any market climate.
A company’s most valuable assets are its employees – hence more effort will be placed on sourcing and retaining talent, personal and professional development of agents.
In addition, I am looking to build a focused project marketing team – with ‘homegrown’ leaders at the helm of said team, it would definitely raise my agency to greater heights.
My team and I are also working on opening another agency in KL Eco City, which is right across from Mid Valley – this area will continue to be a hotspot and generate high demand for properties.
This article was first published in the iProperty.com Malaysia December 2016 Magazine. Get your copy from selected news stands or view the magazine online for free at www.iproperty.com.my/magazine.Better yet, order a discounted subscription by putting in your details in the form below!