Posts Tagged ‘job’

Automation = Rising unemployment?

Tuesday, August 4th, 2009

Taxis without drivers

About half of the cost of taxi fares goes to pay the taxi driver for his service. If an automated taxi, without a driver, becomes into operational, it may be possible to reduce the cost of taxi fare to half of the current level.

You get the convenience of private transport, at a much lower price. This may be possible soon, and can make a radical impovement to the transport system.

(via Singapore Public Transport Blog)

Reading the above post reminded me of a conversation I had with my tour guide in China. We were telling her about ERPs in Singapore, and she told us that Beijing had automated toll booths too, like ours, but not many. They can automate all of it, but they will not. This is because, should they automate, current toll booth workers will become unemployed, and the numbers are huge! Thus, for now, they’ll leave the human factor in.

How much do property agents actually make?

Thursday, July 30th, 2009

Can a new property agent make $8,700 within her first 2.5 months? (See bolded section above) About a year ago, I joined one of the top real estate companies in Singapore, and happened to be recruited under one of the top-selling divisions. I later left the industry for personal reasons, but I still receive work related sales figures, and I can honestly say that yes it is totally possible. I’ve seen the figures.

However, the Real Estate industry follows the 80/20 or 90/10 rule: 80-90% of all the money made in real estate is being made by 10-20% of real estate agents. This essentially means that majority of agents actually might not close a deal each month (they might be part-timers), or might only close 1 deal.That actually does make sense, if there are 26,000 housing agents (stated in article below) and only a few thousand total property transactions a year. If every agent were to close 1 deal a month, a total of 312,000 deals have to be made annually!

This are some figures of how much some agents from my division made in august last year, and in july recently. Last year’s market was going downhill with the recession, while recent markets seemed to have picked up because of stock market rallies: