Marketing of Properties Flashcards
what are the key concepts of marketing? [5]
- market research
- market segmentation (demographics, geographical, etc)
- Market targeting (based on market segment)
- Marketing positioning (how to distinguish yourself or the product?)
- Marketing Mix
what is under market research?
qualitative and quantitative data
what is the marketing mix? [4]
- Product
- Place (where and how to promote)
- Promotion (how to create awareness)
- Price
what is PDPA?
personal data protection act
what is DNC
Do not call registry
when is consent for the collection, usage, and disclosure of personal data not required? [5]
- emergency
- info is publicly available
- for national interest
- personal or domestic interest
- investigation
when you register for DNC, what do you not want to receive?
specified messages
how often should one check the DNC?
every 30 days
under the estate agents act, cold calling and SMS are not allowed between
10pm to 9 am
what are the different types of listings? [3]
sole (owner can market property himself), open/non exclusive, exclusive
what are the methods of sale? [3]
Private treaty, auction, tender
what is a trade mix?
range of retail trades in a mall
what is an anchor tenant?
tenant that occupies the most floor area
URA’s 60/40 rule states that..
min 60% of the GFA should be used for industrial, max 40% for other uses
who are lessees and subtenants?
tenants who lease land from JTC are lessees, and those who rent from these lessees are subtenants
Who typically rents from JTC and how much can be rented out? [2]
End users (for own use) and third party facility providers (REITs).
first 5 years, end users can rent max 50%. after 5 years, max 30%
first 5 years, REITs can rent min 50% to anchor tenant, max 50% to non anchor. After 5 years, min 70% to anchor, max 30% to non anchor
anchor subtenants must occupy at lease ____sqm
1000
can REITs pay JTC in monthly land rental?
no, must pay land premium upfront
what are the 2 schemes that allow REITs to be JTC’s lessees?
- Sale and leaseback scheme
2. Third party build and lease scheme
what are the checks to be done by the EA in the pre-marketing phase for foreign properties? [4]
Due diligence on
- vendor
- Vendor’s claims
- foreign property
- other possible adverse interest
must EA give consent / approval before marketing foreign properties?
yes
during the marketing phase, what should the RES give to their clients with regards to foreign properties?
written advisory message.
highlights risk involved in investing in foreign properties, to conduct their own due diligence
when an unfair act happens for both clients and businesses that does not fall under misrepresentation, under what act can they seek civil remedies? what does it cover? [2]
Consumer protection (fair trading act).
covers
- rental disputes and
- claims against services rendered by RES. eg. false claims, taking advantage of client
does NOT cover sales and purchase of property
