Special Feature

From Audi dreams to philanthropy: Daniel Phua, the agent making a difference

September 20, 2024 5:00 PM SGT

Daniel Phua, ERA Singapore, receiving the award from Shermie Tee, EdgeProp (SG) (Photo: Samuel Isaac Chua/The Edge Singapore)

Daniel Phua, an Advisory Group Division Director at ERA, has built a notable 17-year career in property, overcoming many challenges with determination. He has consistently achieved his goals, from entering new markets despite cooling measures to giving back to the community.

His ambition started at 14 with a promise to own an Audi A4 within a decade, driven by a desire for financial security inspired by his father’s struggles. Phua began working part-time at his uncle’s factory at 12 and, by 17, took on a telemarketing role with Marcus Chu, the current CEO of ERA Realty, all while balancing school and work.

Daniel Phua attending the EdgeProp Realtors' Round Table gala night. (Picture: EdgeProp SG)

“I saw that anyone could succeed as an agent,” says Phua. “You didn’t need to speak well or dress extravagantly. Some high achievers were aunties and uncles. But they all had something else in common, a mindset strong enough to overcome failure and a powerful reason to continue.”

'Last grain of rice'

At the start of his career, Phua faced significant challenges during one of the toughest periods in the real estate industry. He became an agent in 2007, just before the 2008 global financial crisis hit.

“The market was bad, the response was bad, leads were dead,” recalls Phua. Despite working tirelessly for three months, he had yet to close his first deal and was nearing financial trouble as his savings dwindled. “If I didn’t close a deal soon, I would be down to my last grain of rice,” he adds. But unwilling to give up, he kept forging ahead in a mostly quiet market.

Approaching the six-month mark, he found a prospective client and was honest about his situation. He asked them to make him their exclusive agent, a concept not widely practised then. To his surprise, they agreed. Phua believes his honesty and sincerity were crucial in winning their trust.

He says that most of his clients' homes are more than just financial assets; they are often linked to retirement plans or intended as inheritances for their children. Similarly, his childhood dream of owning a luxury car was about more than just the car itself. Shortly after, Phua's career took off, earning him the title of ERA’s Top Rookie of 2008 with over $200,000 in commissions. That same year, at 24, he bought his Audi.

⁠Phua’s dream of owning a luxury car was about more than just the car itself. (Picture: Daniel Phua)

The “last grain of rice” mentality has also made him nimble in uncertainty. In 2013, the additional buyers’ stamp duty increased, cooling the residential market significantly. Phua found himself in circumstances similar to those in his rookie year. Thinking on his feet, he decided to pivot to other markets.

Despite having no prior leads or experience in retail leasing, he took on the challenge of leasing retail units at the Grandstand shopping mall on Turf Club Road. Phua and his team started by cold-calling potential tenants and contacting retailers, dining outlets and service providers. Their efforts proved successful when they secured a nearly 5,000 sq ft lease with a Korean restaurant, one of the largest leasing deals at the property by area.

Phua receiving Top Advisory Group Division Director of the year 2024 award from Marcus Chu, CEO and Doris Ong, Deputy CEO of ERA Realty. (Picture: Daniel Phua)

His connections helped him break into other markets, including industrial and commercial projects. His first industrial project was M38, a freehold factory located along Jalan Pemimpin in District 20, where Phua and his team accounted for over 55% of all units sold, outpacing other agencies in his debut industrial project.

Word of their success spread, leading to the launch of another project: Apex @ Henderson, a nine-storey prime industrial development. Phua and his team sold two floors worth over $33 million to home furnishing supplier TOTO Group.

Preeminent Group Black Tie Gala 2024 with its division leaders and top achievers. (Picture: Daniel Phua)

Adapting through challenges

Although Phua may seem strict, he is approachable and generous with his knowledge. He has set high standards for recruiting new agents, focusing on well-rounded individuals who demonstrate adaptability and strong values. Leading with integrity, perseverance and discipline, he aims to instil these qualities in his team and recruits. Phua believes these time-tested attributes are essential for handling any crisis.

Phua’s division attending the ERA Asia Pacific Business Conference 2024. (Picture: Daniel Phua)

He has expanded his team to over 200 members and continually works to identify and address skill gaps through targeted training. His adaptability was particularly evident during the pandemic when he taught himself to use social media marketing tools to generate leads during the lockdowns.

“I am a totally not-tech-savvy person, but if I want to show my team how to do it, I need to lead the way,” adds Phua. He is now his group's lead trainer for social media marketing, underscoring his commitment to his team's growth by setting an example and equipping them with skills to navigate today’s market.

Empathy over income

Phua frequently helps clients who may not bring significant financial gain. For instance, he assisted an elderly single mother to downsize to a two-bedroom unit in Punggol, enabling her to remain near her daughter’s school. Since she had no fixed income, Phua also supported her in writing to her Member of Parliament to request assistance in approving her loan.

The move took Phua five months to complete, earning only a 1% commission on selling her old unit. Despite this, he felt fulfilled by the work, explaining: “If we only take on clients that give us the most commissions, what happens to the people who truly need us?”

Phua’s family holiday in Japan. (Picture: Daniel Phua)

His drive to help others stems from a crisis he faced early in his career. His eight-year-old Indonesian cousin needed over $200,000 for leukaemia treatment and despite his financial struggles, Phua was determined to assist as he was her only source of support. He sought help through various channels to raise the necessary funds while covering the remaining costs. His efforts ultimately ensured that his cousin received the treatment she needed.

Moved by her struggles and the needs of others, Phua now funds 5miles, a non-profit that supports healthcare and education for two orphanages.