In the real estate industry, there are generally two types of agents. One focuses on new development projects, while the other specializes in sub-sale properties (also known as secondary or resale properties). Both paths offer unique opportunities, but they operate very differently in terms of process, control, competition, and commission structure.
1. The New Project Agent – Controlled by Developers
Agents who focus on new projects market properties that are freshly launched by developers—ranging from residential units to commercial lots. Based on my brief experience in this space, developers hold complete control over every aspect of marketing when a new project is launched.
Key characteristics of new project agents:
- Marketing channels – Agents spend most of their time at malls, roadshows, and sales galleries to attract leads and prospects. The developer provides all marketing materials, and agents must strictly follow their terms and conditions.
- Pricing is fixed – All prices are set by the developer. Agents have no room to negotiate or adjust the price independently.
- Strict compliance – Any promotional content, brochures, and pricing must align with the developer’s approved guidelines.
- Booking deposits and documents – When a sale is closed, the booking deposit is paid directly to the developer, not to the agency. Booking forms and all relevant documents are tied to the developer’s system.
- Panel lawyers and banks – In most cases, the developer also recommends the panel lawyers and banks, effectively controlling the process from A to Z.
Commission payout timelines:
This varies depending on the developer and the specific project:
- Some developers release commissions after the loan is approved, the Sales and Purchase Agreement (SPA) is signed, and the first reimbursement of the purchase price is received.
- Others only pay out after full project completion, which means agents must have sufficient sustaining funds to cover their expenses while waiting for their commissions—sometimes for months or even years.
That said, there are highly successful project-based agents who thrive in this field. They maintain a steady pipeline of new developments and build long-term relationships with developers.
2. The Sub-Sale Agent – Independent and Competitive
Sub-sale agents focus on properties that are already owned by individuals – either first-hand owners selling their units or second-hand owners looking to rent or sell. This market is huge and offers endless opportunities, but it also comes with intense competition.
Key characteristics of sub-sale agents:
- Multiple agents on one property – The same property for sale or rent can be listed by many agents simultaneously. Prospects have the freedom to choose which agent they want to serve them.
- Price undercutting – Some buyers will contact multiple listing agents and ask for the lowest price. While this isn’t ideal, it’s an open market with little regulation. To counter this, experienced agents often seek exclusive listings, which gives them more control over the transaction. (I’ll share more on exclusive listings in a separate piece.)
- Direct owner outreach – Most sub-sale agents know how to reach property owners directly. This means they don’t have to share their commission with other agents-unless it’s a co-agency or open listing arrangement.
- Open listing pitfalls – In an open listing scenario, some agents may list a property at a slightly lower price than the original asking price sometimes without the owner’s knowledge. Their reasoning is simple: a lower price attracts more leads. That’s why smart agents always do their homework – they check whether their listing is being undercut by others. If so, they must highlight this to the owner immediately. Why? Because if your listing is priced higher than competing agents, prospects may never call you in the first place.
The sub-sale agent’s reality:
In sub-sales, you’re on your own. The more listings you have, the higher your chances of closing a deal. You must stay organized, manage your database diligently, and constantly follow up with both owners and prospects.
Some agents choose to specialize even further:
- Some focus solely on commercial properties (shops, offices, industrial lots).
- Others concentrate only on sub-sales and avoid rental listings altogether.
Final Thought – Which Path Should You Choose?
Both new project and sub-sale agents play vital roles in the property market. Your choice depends on your personality, risk tolerance, and business goals:
- If you prefer structure, fixed pricing, and developer-backed campaigns, new projects may suit you.
- If you enjoy independence, direct negotiation, and the thrill of competing in an open market, sub-sales could be your calling.
Regardless of the path, success comes down to consistency, discipline, and a genuine commitment to serving your clients well.