Special Feature

Self-made millionaire Benson Fong shares the secrets to his success

April 28, 2023 1:45 PM SGT

Being passionate to learn — coupled with a strong work ethic — has empowered him to think outside the box and build trust with clients

In the constant pursuit of excellence, Benson Fong wholeheartedly dedicates himself to expanding his knowledge and skills to better serve his clients in the real estate sector. Besides going for courses to hone his skills as a realtor, he also keeps himself updated on trends beyond real estate. This has enabled him to break free from conventional thinking and creatively approach challenges.

“Since the market changes quickly, we cannot expect to see different results if we keep doing things the same way,” he says. “This is why I’ve changed my marketing strategy, which has gone beyond newspaper advertisements and telemarketing today. I’m now engaging with my clients through videos and social media, as well as leveraging chatbots and artificial intelligence to deliver enhanced services.”

To Fong, it is crucial to keep an ear to the ground to foresee the next wave of changes and cross-reference to other industries to learn from them. He says that for instance, one can look at the problems the F&B industry is facing and how they are solving them to see if one can take the same approach to address similar challenges in real estate. “By investing in training, we are elevating ourselves and ensuring that we are always updated and relevant, therefore future-proofing ourselves,” he says.

Fong adds: “To me, being passionate to learn is a crucial characteristic not only for the job as the real estate industry evolves rapidly, but also for personal development. It can help us learn how to be more productive, adaptive and more — to ultimately become an improved person.”

Leading by example

Before being a realtor, Fong held corporate jobs, which did not give him a sense of fulfilment. He started as a part-time real estate agent to better understand the profession, and jumped into it full-time after realising the job is a meaningful one that enables him to help clients make life-changing decisions at various junctures of their lives.

“Apart from helping clients upgrade their homes or add more properties to their investment portfolio, there were also occasions when I helped clients downsize their property as they were in difficult times. This made me realise how purposeful this job is and that I can make a bigger impact on society through it,” says Fong.

However, making the career switch was not a bed of roses. Not wanting the agents under his care to go through the same difficulties, Fong developed a programme called S3 to guide his team members in the Benson Fong Division (BFD) to achieve their desired career goals. BFD is part of PropNex.

The S3 programme consists of three tracks — structured, system and scheduled — designed for realtors at different stages of their careers. The 30-day structured programme aims to fast-track new real estate agents by empowering them with workshops by trainers with Advanced Certificate in Training and Assessment, industry best practices, and the information they need to advise their clients, including the latest market outlook, property trends and housing policies.

“One of the major challenges for newcomers is that they don’t know what they don’t know, so the structured programme will give them a framework to kickstart their real estate career,” says Fong.

Meanwhile, the 80-day system programme will share a robust roadmap that realtors can use to achieve their quarter-million sales target. As for the scheduled programme, it will coach those intending to expand their sales into the luxury segment and overseas launches.

“Our programmes fuse up-to-date training with lessons learnt from my first-hand experiences. This way, participants can anticipate the obstacles they might face and gain hands-on practice to overcome those issues and optimise how they do things. They can also reach out to me directly for advice if they are struggling. At BFD, we believe in shared success and leaving no one behind,” says Fong.

He leads a team of 150 realtors under BFD, who are just as highly motivated as him. “I believe in leading by example and walking the talk. Leadership is not only about instructing your team but also how you model the behaviour you want to see in others. So instead of pushing my team members towards excellence, I’m actively demonstrating that excellence,” he asserts.

Fong also shares that the Super Plat Challenge is one way to keep his team members motivated to achieve — or go beyond — their sales target. “With the right environment and support, success is not impossible despite the stiff competition in the industry. Competition tends to have a negative connotation, but I see it as a key motivator to elevate ourselves. The Super Plat Challenge, for example, is a healthy competition. Even though we compete with each other, there is much sharing among the team as we want everyone to do well,” he says.

“Success is sweet, but even sweeter when shared,” he adds.

Fong says that he and his team believe that real estate is a “people business”, where success should be determined by the number of clients they have helped instead of just sales figures. As such, they will share the latest property launches with their clients and contextualise them based on the market outlook and their situation and goals. “When you do so, clients will be able to sense that you genuinely care for them, instead of only wanting to close a transaction. This will build trust, which is key to cultivating long-term client relationships,” he says.

Success unlocked through continuous learning and strong work ethic

As a living example that being an intrinsically motivated learner and having a strong work ethic will bear fruit, Fong has a long list of accolades to his name. He has been consistently bagging multiple awards throughout his 13-year career as a realtor. This year alone, he has been awarded the PropNex Millionaire title and has raked up six other awards, including being crowned champion for Top Private Property Transactor and ranking fifth in the Top Senior Associate Group District Director category.

Out of his many awards, The Top Producers — Couple Award he won with his wife, Jessie Tan, in 2019 is the most meaningful to him. “My wife has been crucial to my success — as my pillar of strength and a great source of motivation. Thanks to her understanding, constant support and belief in me, I am able to put in my best effort when dealing with clients, enabling me to soar higher,” he says.

Fong also acknowledges his father for helping to shape who he is today. “He instilled in me the importance of integrity, diligence, grit and being determined. With these values as your North Star, success will naturally come your way.”

Moreover, his father helped him develop an interest in real estate and investment. “I was first exposed to the basics of real estate through him. He advised me about investing in tangible assets, such as properties or land, as a better way of growing my savings and reaching my life-goals more quickly,” he adds.

Given his “never settle” attitude, Fong has set his sights on becoming a property developer next. He is currently rebuilding a house to gain full, hands-on experience on the requirements for achieving that goal. “The journey might be challenging, but I believe the goal is attainable when I put my mind to it,” Fong asserts.