Shirley Seng, 26, Has Become A Millionaire Overnight. Here's How She Did It
Despite her sudden wealth, the young property agent still remains down-to-earth and is motivated to carry on as before.
By Sadho Ram — 30 May 2015, 05:39 PM
Shirley Seng is young, bright and motivated. Working as a property agent at PropNex in Singapore, she knows what she wants with her life and is determined enough to work hard to fulfill her dreams.
Just 26, Shirley, a Nanyang Polytechnic graduate, hit a jackpot worth S$1.5 million in April when she sold a penthouse in Le Nouvel Ardmore for S$51 million. The incredible amount is said to be a record absolute price quantum for a penthouse in Singapore.
According to a report by the Straits Times:
26-year-old Shirley became an overnight millionaire after selling a penthouse at the Le Nouvel Ardmore for a record S$51 million last month. The deal would have reaped PropNex agent a commission of about $S1.5 million.
While she was reluctant to disclose details of the sale at the 43-unit freehold condo, she confirmed that the transaction was completed last month after negotiations started in March. The whopping amount was paid by Mr Sun Tongyu, the co-founder of e-commerce giant Alibaba. Mr Sun is a Singapore permanent resident. Mr Sun was a referral from a client she had previously served at Marina Bay Residences.
"I only knew that he is someone of high net worth. And like any high-net-worth clients, they usually know what they want. And I am there to help to execute their plans."
However, she has not slowed down after the million dollar deal, submitting around 16 transactions in April, with another 7 in May. Shirley, who went against the wishes of her family, joined PropNex in January, 2015, and is said to have made about S$1.7 million in commission from 53 deals, mostly struck in the rental market.
While the deal has been one that changed her life, Shirley is determined to carry on as before. She still sleeps in the living room of a terraced house in Serangoon where she lives with her parents, grandparents, two sisters and four other relatives and a maid.
While speaking with the Straits Times, Shirley, who has her priorities straight, said, "this deal is good money, like hitting the jackpot. But this is my lifelong career; if I go for a long holiday now, I may lose my clients when I return."
"I bought a seven-seater Volkswagen MPV so that my grandparents can travel in comfort. They have been supporting my family all these years as my dad has been sick and unable to work. My mum is a housewife," she said.
"I often get people asking me if it is money that drives me. I would tell them that many people are motivated by money, especially when they come from a poor family background. I work hard to give my family a good life."
Fairly new at her job in PropNex and with less than five years of experience in her career as a property agent, Shirley has certainly proved her mettle in the real estate industry. She also revealed that her family was against her taking the job as they felt she was "young and has no contacts" on which to base a real estate career.
"They told me how their friends didn't make it and advised me to get a job with a stable income. My grandpa then offered to support me in a degree programme with Singapore Management University," said Ms Seng, who holds a diploma in multimedia and infocomm technology. "But I was determined to give it a try. I thought, if I couldn't make it in a year, then I will go for a degree."
Ms Seng joined HSR International Realtors for four months before moving to ERA Realty, where she stayed for four years.
She said she penetrated the network of wealthy people by helping to rent out their apartments, especially those in Marina Bay and the Orchard area.
Shirley, who goes the extra mile for her clients, such as picking them up in her car and dropping them off wherever they want to go, at times also helping them run errands, knows how to deal with them. For anyone looking to learn, the young millionaire advises:
"Speed is crucial. I always try to get back to them within one to two hours. I want to let them know that they are my priority."
"Times are tough, unlike 10 or 20 years ago. Today's agents need to do more for their clients. But you need to do it with your heart, so they can feel your sincerity."