Special Feature

[ERA IWD 2024] Tracy Teo: Embracing the role of mentoring a new generation of agents, empowering them along their journey

March 8, 2024 4:00 PM SGT

Teo envisions a future where women thrive in the industry, shaping its landscape and amplifying their voices.

ERA Celebrates International Women's Day 2024

When Tracy Teo began her journey straight out of university, she did not anticipate how her life would unfold. Despite being a Building and Real Estate Honours graduate, her father expected her to pursue a corporate job.

Instead, she became an entrepreneur, pioneering the home cleaning industry with her husband Eric Goh over 20 years ago, when it was uncommon for young women to own businesses, much like it was rare for families to hire part-time cleaning help.

“My father questioned my career choices,” laughs Teo. “He thought it was risky for his daughter to take on the burden of owning a company at such a young age.”

The business quickly attracted expatriate clients, offering cleaning and comprehensive house maintenance services that were well-received and consistent. But after running the company and a real estate firm concurrently for 16 years, Teo and her husband decided to cease the cleaning firm. She adds: “My cleaners grew older and retired while government regulations were tightened, so we had to pivot.”

Realtor, mother and mentor

As the leader of about 200 agents and counting, Teo juggles team management’s demands with personal and family sales. She emphasises the importance of effective time management and the need for adequate support, particularly in the fast-paced real estate industry.

Whether for experienced agents or new trainees, the couple has several foundational and flagship training programmes to ensure that anyone joining their team has all the resources and tools needed to succeed in the business.

“About 24% of our agents are award winners in the upcoming ERA APBC award for 2023, where the company saluted the top 1000 achievers of ERA as well as the top leaders,” says Teo proudly. She has successfully groomed many achievers and believes “that our focus on creating a strong business foundation enables them to brave through any market situation.”

Being a mother of three boys — aged 14, 15 and 12 — also adds another layer to her perspective regarding mentoring her agents, some of whom are also parents.

“For example, one of my agents could be a new mom, have a child entering a new school, or have a crucial exam year,” says Teo. I would then raise this issue with them during our one-on-one sessions to discuss viable working arrangements.”

She emphasises that flexibility was an important factor in her real estate career — because it allowed her to spend quality time with her children. Thus, she is especially concerned that the families of her agents are not affected by the sometimes taxing demands of real estate sales.

Teo and her husband monitor their team for agents facing personal challenges that could affect the success and well-being of their careers. She adds: “One of our special training programmes, Supercharge, is designed as a motivational tool to help agents needing greater support in special areas.”

The intense three-day retreat forces agents to reset their mental state, building on self-awareness skills, pushing themselves out of their comfort zone and allocating space for personal reflection. This is especially useful for individuals stuck in a rut and looking for room to grow.

“Taking that time out to focus on their inner state, with rules like not having mobile phones during training sessions, does help to shift their mindset and overall perspective,” says Teo. “Having the support of peer agents also can make a huge difference to those feeling overwhelmed and alone.”

Participants in the life-affirming journey contribute in various ways, with family members joining in activities like team hikes, journaling and meditation, guided by Teo, her husband and at least seven Division Directors, several of whom are married couples with families.

Balancing vision and execution

Reflecting on their real estate partnership, she sees their roles as complementary: While her husband impresses clients with vision and tenacity, Teo highlights the unique strengths that being a woman in real estate brings. This involves patience, keen attention to detail and understanding client relationships.

“It’s not just a transaction; it’s about guiding clients through a journey that involves memories, fears and hopes,” she says emphatically.

Her sensitivity is vital in handling client relations, especially in emotional situations. Teo is tasked with sales, client preparation, addressing fears and ensuring informed decisions.

“I believe I can help give clients more attention they need when it comes to home-buying or selling, which can be a very emotional journey,” adds Teo. “Many people fear making the wrong decision when buying and selling a home because it is likely their most important or largest financial asset. It’s a significant life decision!”

She provides detailed information and manages expectations. For example, if their property does not meet initial preferences, she ensures they are well-prepared.

“I then help mentally prepare them to face having to spend a bit more than expected or, due to budget constraints, having to deal with a smaller space than what they imagined,” Teo continues. “All this counts as supporting clients to feel confident in their decision.”

Inspiring women in real estate

Reflecting on her career journey, she advises younger people to consider leaving their comfort zones sooner rather than later. “The earlier one takes such bold steps, the fewer commitments and fears they carry,” says Teo. She also advises young people against living with regrets and encourages them to be open to exploring different paths, like considering a career as a property agent, even if they lack experience in sales.

“Real estate is not just about numbers and making money; those who think that way won’t go very far,” she adds. “Instead, think of it as a platform for continuous learning, growth and building a fulfilling career.”

Teo envisions a future where more women can thrive in the industry, shaping its landscape and ensuring their voices are heard for the betterment of all — as she currently does as the only female Agency Leader in ERA Realty.

Above all, her story illustrates how embracing unconventional careers can lead to fulfilment and empowerment for women, contributing to bridging the gender gap in diverse career paths.

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