When Samuel Tan was younger, he was contented to be just a wage earner. However, in 1977 after attending a talk given by a valuer, Tan, who was age 16 at the time, realised he wanted to be a valuer too. His second choice would have been to be a town planner.
Today, Tan is the Executive Director of KGV International Property Consultants, a company that has been providing professional property services for the last four decades. In his spare time he also writes for The Edge, iProperty, Property Guru, Singapore Business Times, among others, and regularly gets invited to talks concerning property matters both locally and regionally.
Kok Group Valuers (KGV), a Dutch-Malaysian real estate firm had started with projects in Kuala Lumpur and Penang in 1974. In 1983, the company became fully Malaysian-owned, and in 1985 Tan started KGV in Johor Baru.
"In 1993, the company associated itself with the Lambert Hampton Smith Group, which is one of the top property consultancy firms in the United Kingdom. Later, we changed the name to KGV International Property Consultants. We have offices in Kuala Lumpur, Johor Baru and Penang and would like to expand further when we find the right candidates," he said.
Tan, from Batu Pahat, Johor, obtained his Diploma for Valuation after three years at Universiti Teknologi Malaysia. He then continued to pursue his Bachelor of Surveying (Hons) Property Management for another two years in the same university. He also did a short summer course at Sophia University in Japan in 1983.
Tan's principal job is as a property consultant majoring in valuation of real estate which includes houses, land and machineries. Later, he procured the licence as an auctioneer.
As his experience grew, he ventured into property tender, market studies and consultancy work.
"My qualifications also automatically allow me to practice as an estate agent and property manager," he said.
Tan's advice to a young property agent would be to go through the phases and not expect a shortcut.
"Be patient to learn the skills of networking and increasing your knowledge. Always be curious about all subjects but be the master of one," he said.
Tan is the second child in a family of four children. His eldest sister is a retired teacher while his younger brother is a designer. And another brother (the youngest child) is also a valuer.
When asked to comment on the property outlook, Tan said the rising Overnight Policy Rate (OPR) will invariably affect the demand for property in Malaysia as the cost of borrowing will be higher. But this is only one of many factors.
"Demand is currently dampened by the overhang of high-rises and uncertainties in the global market and our country's economic situations.
"The most important thing for developers and other stakeholders is to increase the level of confidence. Purchasers must have confidence in the future before they commit to such big-ticket investments while developers must be confident enough before they are willing to buy more lands for future development. Similarly, banks must be assured they are exposed to less risks before they are willing to approve loans for property purchases," he said.
"Property investment has also been a good hedge against inflation. The rising material, labour and compliance costs made property prices increase. Even without additional demand, I believe property prices will swing upwards.
"As for new and second hand properties, I believe each has its strengths and shortfalls. Buying second hand properties allow you to see exactly what you are purchasing but buyers may have to settle with an older house and bear more incidental costs. Whereas primary market offer newer designs and developers are keener to bear incidental costs like stamp duty and legal fees. Some are even keen to throw some freebies like air-conditioners and kitchen cabinets.
"It will be Malaysians working in Singapore who are keener to buy properties in Johor. The completion of the Rapid Transit System is a game-changer which will compel more to invest in Johor Baru," he said, adding that some Singaporeans may even opt to downsize to a smaller residential unit and plough the excess funds to buy their dream house in Johor.