Special Feature

Eileen Lim, a realtor who pulls no punches when it comes to giving property advice

October 13, 2023 3:30 PM SGT

Eileen Lim receiving her award, presented by the CEO of EdgeProp, Mr Bernard Tong. (Picture: Albert Chua/The Edge Singapore)

“There’s no property bubble to burst in Singapore, at least not for the foreseeable future,” says Eileen Lim in response to a question about the ever-escalating prices of private properties. “But don’t just take my word for it. Let me explain why the $2,000 psf pricing is now simply a standard and why it will continue to incrementally climb in the years to come.

Lim proceeds to break down the entire system of home financing in a layperson’s language and goes beyond adding macroeconomic factors such as the government’s Population White Paper, home construction statistics, and land availability ratio to support her statement. It is a fascinating analysis that reveals her wisdom, strategic acumen, and experience in the market, and how she guides a client through the process of climbing the property ladder by showing them how to manage their concerns.

To her, however, this is just another regular pitch which explains why she’s a Top Transactor award winner in two categories: New Sales and Luxury Condos. Lim is a “tagger” or a product specialist in industry speak. Her job is to have all the nitty-gritty details of every new and existing sale project on hand so that buyers can make a beneficial and informed decision before a purchase.

A Property Coach

The way she describes her work leads me to compare her with the role of a life coach, but for property ownership, which she laughs off. But it is an accurate comparison. Lim has to assess each customer she meets, understand their aim and goals and help them plot out their property journey step-by-step. Often, this goes even beyond the current property they are considering, and she never shies away from her honest opinion of whether it’s the right choice for them.

“As a tagger, I support and help other realtors with clients who are visiting showrooms or need further guidance on what to purchase. I also have to juggle my own network of clients that I’ve built over the years,” she grins. “It’s something I enjoy very much. Being able to build a rapport with a client in a short period of time is a skill I’ve developed in my life.”

She reckons that everyone needs a good and frank realtor in their lives to help them purchase the biggest asset in their portfolio at any time. “No matter whether you’re a first-time or repeat buyer, a property is always a big purchase. Very often, when customers hesitate in a purchase, there’s something that’s holding them back. Getting them to share that concern, and having a client take my recommendation or advice gives me great satisfaction, even more than winning an award for my work!”

To dole out the right advice, Lim spends her time studying real estate patterns across the island and in individual regions. She also goes further, exploring URA masterplans and envisioning how that will impact real estate prices in the long run. “I enjoy learning and gaining knowledge that can be put to practical use, and being able to apply it on behalf of my clients and to support my team is something that is very fruitful,” she explains. That’s how she’s become one of the most recognised taggers in the country.

She recalls an elderly client who was considering selling the properties he had acquired over the years or decoupling them with his spouse to avoid paying the Additional Buyer’s Stamp Duty (ABSD). “I told him very frankly that ABSD is the cost of doing business if he was aiming to grow his wealth through property assets,” she said. Instead, she helped him formulate a plan to pay for the new property using the money from his other rented-out properties, without touching his savings. “I pointed out that he wasn’t paying the ABSD, but his tenants would be doing so. However, I had to explain to him that his investment horizon would be a longer one.

Lim: I enjoy learning and gaining knowledge that can be put to practical use, and being able to apply it on behalf of my clients and to support my team is something that is very fruitful

A Strategic Realtor Guide

In her opinion, the market still has a lot of breathing room and that means prices will continue to climb steadily. It is why she advocates everyone to consider buying a property as soon as they are able, but by being careful and keeping it within their means. “The government’s various measures, from the Total Debt Servicing Ratio (TDSR) to the ABSD increases have ensured that speculation is minimised and therefore there isn’t a property bubble waiting to burst,” she explains.

But rather than just telling a client to buy the first property they see, an important role a realtor plays is to identify the blind spots that they may have when trying to secure a property. “Whether it’s by understanding their risk appetite in terms of financing or what their runway to returns and investment is like, we’re here to help our clients evolve their property journey according to their present and future plans,” she opines. “Sometimes a client will say, ‘Oh Eileen has brought up something interesting that we need to take into consideration.’. That’s when I know I’ve made an impact.”

She also points out some common fallacies that customers have when thinking about a property. “Very often, they think very far ahead, to 20 or 30 years later, when it comes to buying a unit. That’s a mistake. Our lifestyle will inevitably change as time passes and when that happens, that is the time to sell your existing property and get something else more suited to your needs. But for those who are buying and hoping to sell in a few years, my suggestion is not to buy into boutique developments that have only a few units. That’s because bank valuations are based on other transactions in an estate or area, and in boutique developments, you’re less likely to get many transactions in a short time.” She compares it to a sporting event: if you’re a sprinter or long-distance runner, you rely on different training tactics and build different muscle groups to run and win a race.

Lim has plenty of smart and thoughtful anecdotes and metaphors that make the process of real estate purchasing easy and relatable, which is part of her formula for success. But as an ERA team director, she also shares her knowledge freely with other agents to help more potential real estate clients figure out their property journey. “We often perceive real estate to be a competitive space but I think it’s important to reframe that and demonstrate how collaborative teamwork benefits everyone across the board, from our clients to the agencies and developers.” Meanwhile, she’s getting ready to tag into her next appointment and all set to help another customer embark on their journey to own a new property.

For more information,

Contact Eileen Lim | 81810811

Team Director (R006329D)

ERA REALTY NETWORK PTE LTD