One of the world’s fastest growing economies - and one that uniquely puts people before profits - is the sharing economy.We live in an era where our cars, homes, workspaces and even our clothes - are available for others to utilize. Companies like eBay, Uber, and Airbnb have transformed the industry by allowing small suppliers to compete with traditional providers. This almost seamless process enables both buyers and sellers to engage in convenient and reliable transactions. Thanks to technology, sharing these assets has never been cheaper nor easier, with the peer-to-peer market generating billions of dollars.How can the real estate industry benefit from this sharing ideology?OKAY.com has embraced this philosophy by implementing a proprietary online platform that rewards agents for sharing information and listings, which is the opposite of how traditional Hong Kong agencies operate.OKAY.com Disrupts the Real Estate Industry by Embracing the Sharing EconomyIn general, the traditional brick and mortar agencies are structured so that agents’ commissions are only given to the transacting agent and neglect the agent who provided the listing. They also operate on a quota of listing updates which is incorporated in their base pay. This type of structure leads to misaligned incentives and agents maximize their returns by favoring their own listings. Their clients in turn are not exposed to everything that is currently available on the market.The OKAY.com structure gives each agent the same financial benefit regardless of which agent originally discovered the listing. This aligns agent and client interests as consultants find the best property tailored specifically to their clients’ needs regardless of who listed it.“Our structure allows agents to focus on their clients’ needs and gives our customer base a transparent view of all that is available on the market,” explains Joshua Han Miller, CEO of OKAY.com. “We are also dedicated to market accuracy and maintain 95+% accuracy levels in available properties listed on our site”, another benefit of shared information.”OKAY.com encourages its people to work with their colleagues rather than against them. This collaborative environment empowers them with more information and aligns them with their clients, which benefits everyone. We see this in the hundreds of amazing client testimonials our agents have received, often citing how different (and better) their experience was.The real estate industry is incredibly competitive and for even the most talented of agents, standing out from the crowd and getting the attention they deserve can be an expensive and difficult task. By empowering its agents with mobile technology and advanced tools, OKAY.com agents are able to work with their clients anywhere and anytime; phone-tablet or computer.Finding a home in Hong Kong just became faster, easier and more efficient.

Have you ever wondered why you're not excelling in your real estate career? Or why you just can't seem to close as many deals a month as you hope? See if you're making these common mistakes.Common Mistakes Every Property Agent Should AvoidPitfall #1: Being too aggressiveAn agent’s short-term goal is of course to close a deal but don’t let that goal blind you – never treat clients and landlords like commodities. Don’t steer them towards certain properties just because you are guaranteed higher commissions. It’s an instant turn-off and will send them running to your competitors.Instead: Aggressive sales tactics rarely work in our field. Treat your clients with respect, pay attention to their requirements and only show them properties that meet their needs. Give them space – let them make their own decisions while offering a guiding hand. You should only be more “aggressive” if you truly believe a property is perfect for the client, and that they need to move quickly to avoid losing it – this is something a client will thank you for later. If you’ve been working with the client’s real interests in mind during the search process, you’ll have the “trusted advisor” relationship that enables you to help your client be decisive when they need to be.Pitfall #2: Limiting yourself to a single districtIt’s not enough to know one district inside out – homebuyers are rarely adamant about a single area, and if they can’t find a suitable home, most are willing to widen their search. If you only work with listings in one district and can’t put forward recommendations in a nearby or similar neighborhood, your client will move on to other more knowledgeable agents to help them find a home.Instead: Make one district your base, but also work with two to three areas that appeal to your clientele and make an effort to know them well. Don’t forget to tap into your co-op network if you’re required to work with an unfamiliar area.Pitfall #3: Scheduling viewings randomlyThere are many ways to schedule viewings, and while different strategies work for different agents and clients, the last thing you want to do is to schedule them randomly. Not factoring in locations, route and more importantly your client’s budget and preferences is a waste of time for all parties involved.Instead: Plan your viewing order based on the type of client you’re working with. If they are experienced and know what they want, they won’t appreciate spending time viewing anything outside of their specific needs. But if they are still deciding on their priorities (space vs. location vs. amenities, etc.), being too focused won’t help them feel that they’ve educated themselves on the options and tradeoffs. Knowing your client is as important as knowing the properties.Before scheduling viewings, find out as much as you can about your clients as possible. How long have they lived in Hong Kong? Have they lived in multiple districts? Why are they moving or considering a new district?You may have half a dozen listings in your hand that fit the bill – clients who have done their homework will appreciate you showing them the properties that tick most of their boxes early on, while others might want you to show them a variety of listings before deciding what they like. Thoughtfully planning your viewing selection and flow based not only on your client’s needs, but also on their experience level will greatly increase your success rate.Pitfall #4: Treating co-op agents unprofessionallyNever try to undercut your co-op agents by poaching their listings or clients. While this may help you close a few deals in the short-run, you will most likely have compromised your future in the field – word travels fast in this industry and when your reputation is ruined, rebuilding it will be a long and arduous struggle.Instead: Be respectful and invest time into building positive relationships with your network of co-op agents. Catch up with them regularly to make sure you’re always in the know – doing this might just get you early access to that hot new listing!Pitfall #5: Lacking strategic visionTo some agents, being in the business is only about scheduling and following up on client viewings. While this is a big part of being successful, it’s certainly not all encompassing and won’t take you to another level.If you only wait for new properties to come to you and neglect to call landlords regularly, you’ll soon find yourself edged out by property agents who invest time building more relationships and continuously learning how to be more successful.Instead: As well as keeping yourself updated with the latest market trends and up-and-coming properties and neighborhoods, read sales books and keep an eye on YouTube for new ways to promote properties, build your brand or better organize your time, while staying current with Estate Agents Authority regulations. Plan ongoing campaigns to consistently reach out to all your contacts – with emails, phone calls, Christmas cards and other “touch points” to show them you’re thinking of them even when they’re not actively looking for a property. Most of all, find ways to develop your relationship with clients – high-level conversations that go beyond a pure transaction will shed light on their life goals and financial visions, which will help you better anticipate their needs and match them with suitable properties.

When a client entrusts you with a listing or asks you to find them a suitable property, you’re helping them make one of the biggest decisions in their lives. Buy or rent, sell or let – they want an agent with solid integrity and sound judgement by their side – someone they can trust. Trust holds the key to any successful relationship, and it’s particularly important for property agents.5 Ways to Build Trust with Your Client 1 – Listen, Listen, ListenThis is arguably the most important quality in a real estate agent, but one that is often forgotten. All too often, real estate agents try to immediately “sell” a property, without really listening to their client and what THEY want. As their agent, you’re offering a housing solution, so understanding their needs is vital. Pick up on emotional cues and ask questions to gather additional details. When you believe you have enough information, attempt to analyse and balance the needs of different family members.Once you’ve gained insight into what the client is after, offer sound and honest advice, but look for ways to better articulate pros and cons. If a client seems hesitant at the end of a viewing, offer alternatives and follow-up. If they know you’re on the lookout for similar properties, they will be encouraged to stay in touch in case you find something suitable.2 – Be generous with what you knowYour market knowledge is invaluable to your client’s decision-making process. Keeping yourself abreast of industry news and trends is paramount in helping your client make an informed decision, but proactive knowledge sharing – publishing commentaries and articles on a company blog or website, for example – is an even better way to demonstrate your expertise and provide unique insights for your client. Exchange information with colleagues and your co-op network so you can reference similar cases when needed. Don’t be afraid to voice your opinion about a property or district – they are looking to you for guidance, not merely information – they can search online for that.3 – Be an EducatorSometimes clients have unrealistic expectations of the market. Don’t be afraid to address them. If they mistakenly think they can find a 1,000 sq.ft. rental for $15K /month, be upfront with them about the real market level (but do so tactfully). Send a list of properties to educate them, and support your opinions with market facts and information on relative value. Email them about a good deal when you see one but be equally honest if they can do better with another property. If there are potential problems, let them know – they’ll appreciate your honesty.4 – Be friendly, but keep it professionalA good property agent should already possess people skills but it is equally important not to lose sight of professionalism - when trying to build a rapport with a client, your credibility is key.Making a great first impression is half the battle, so dress appropriately and practically. Before each client meeting or viewing, make sure you have the itinerary and route planned out, and allow yourself enough travel time for unexpected delays. Keep additional properties on hand in case clients show interest in a certain road or building and happen to speed through your scheduled set of viewings.Interactions with the client – whether face-to-face, email, or over Whatsapp – should be friendly but always professional. This sets the tone and gives your client confidence that you are great at what you do. Speak their language and communicate the way they do. If they are more formal, you should be more formal. If they are more casual, be (slightly) more casual. This greatly helps them become comfortable working with you. You don’t need to be someone else, just find the best ways to communicate and build trust.5 – Be Like the Flash - FastIt’s a no-brainer, the fastest person in a race always wins. The same is true in real estate, especially in a fast-paced city like Hong Kong. You want to be the first send information to your clients. Since most people are usually working with several agents at a time, you should be the most responsive particularly when sending new listings that have just hit the market.It’s not only about showing your responsiveness, you should keep in mind that your client is also competing with other people looking for property in the market. So help them see a great property first, before the rest of the market knows about it.If your company has a strong (ideally mobile) technology platform, use it. At OKAY.com, we’ve built our own mobile platform to do things on the go, such as notifying our agents when a property hits the market that matches their client’s needs, or creating a viewing schedule remotely. But you can use any CRM if you’re diligent – even an excel spreadsheet. The main goal is to move quickly. After a viewing, don’t wait for a few days to send more listings – send them the very next day (or ideally later the same day). If your client wants to put in an offer, do it immediately, not “tomorrow” or you’ll risk losing the property to another buyer.The mobile era has brought an expectation of instant gratification. Just as you expect a friend to respond quickly to a WhatsApp message, clients expect us to be immediately responsive. So if they send you a message, respond immediately if at all possible - even if it’s just to acknowledge receipt and let them know you’ll get back to them. A quick note can go a long way – it lets them know you’re “on the case” and puts their mind at ease. Otherwise they may reach out to other agents, thinking you’re not prioritizing them as a client.

For many people, working from home is “living the dream”. You can manage your own time, will never have to face the morning commute, and can be more effective in helping clients. But for others, the idea of leaving the office is a daunting prospect. Will your work/life balance be affected? Will you miss the face-to-face interaction with colleagues? Will it be a struggle to organise your own schedule? OKAY.com manager Nina Schulte-Mattler talks us through the ups and downs of remote working, and tells us why she never wants to be tied to a desk job again.Perks of Remote Working as a Real Estate AgentWhen did you start working with OKAY.com?I started working with OKAY.com in January 2015. Previously, I was freelancing for another real estate agency in Discovery Bay, working in a small office with a traditional set up of a fixed desk and computer. To get any work done, you had to be in the office, as that was the only place you could access the database.What made you want to join the company?A lovely associate director from OKAY.com saw my ad in a magazine and asked if I wanted to discuss potential work opportunities over a cup of coffee. Her enthusiasm for the company was really addictive and I went along to the head office to find out more about the company. The vibe in the office was remarkably different than that of my previous employer, as it was full of consultants from all over the world and they were all backed up by fantastic IT and customer service support teams. I was excited, I wanted a challenge and wanted the opportunity to start something new.Did you have any worries about remote working?Not at all! I think I get the best out of it because I have chosen to work where I live. I don’t have to commute and that gives me the opportunity to work between and around my family if I need to – so in that sense it’s the opposite of “remote”!Is it easy enough to work around family commitments?Definitely. Working remotely allows me to work and be a mom, both in the same place. Of course, there are always clients who will only be available at the evenings and weekends and the nature of my job is to try and suit their schedules wherever possible. But the great thing about the company is that it’s never a problem as the technology allows me to access the database on the go, so I can manage my time, getting more done.Can you talk us through an average workday?This will sound really boring now, but you asked for it! I get up and have breakfast with the family and prepare the snack and lunches. I take the kids to school and then come back home for a second round of coffee. Normally, I sit down and start work around 8:30am, concentrating mainly on admin early in the morning, followed by phone calls and database work. In the afternoon I normally do my field work, which includes being on the road trying to find new properties, taking photos for listings, meeting landlords, collecting keys, viewing properties with clients and so on. The goal is to get everything done by 3pm so I can collect the kids from school and spend a few hours with them.What do you like to do outside of work?I love outdoor sports such as hiking, kayaking and jogging and I can usually fit them in around work, preferably early in the morning (OKAY.com is really supportive of this, including sponsoring our dragon boat team, the ‘German Dragons’). Then, if I’m lucky I squeeze in an hour of yoga every week too. My social life is important as well, and I often like to get away from Discovery Bay and go out for dinner or drinks with friends on Hong Kong Island.What’s your home office set-up like?I have my computer and my home office set up in an area of our living room, which is very quiet during school hours! Having remote access to our listings database and agent tools makes it even easier to respond quickly, regardless of where I am, so I’m not chained to my home office either.Have you got any advice for anyone who still isn’t sure?Choose where you want to work. Get your home set-up sorted and make sure your work environment is as comfortable as possible. Set up a network with your colleagues for interaction and support. Set a workable schedule, and try to stick to it. Trust me, you’ll never go back to the office unless you want to!Nina is obviously thriving in this setup, and when she needs to chat with her colleagues about anything, they’re only a phone call, WhatsApp message or email away. At OKAY.com, agents who choose to work remotely have the flexibility to come in as they please, benefitting them with a fixed office that is tuned to their needs, coupled with the ability to take more control of their lives.