If anyone would decide to pursue a study in Estate Management back in the early 90s, it would not ring any happy tune for it lacks any professional image. The name ‘estate’ in the local context was always associated with the plantation industries, let alone the modernisation and urbanization in the country, which leads to lesser “estate” to manage.
However, in recent interviews with WargaBiz, Vincent Tiong Eng Ming, the Executive Director of PropLead Sdn Bhd talks about his decision to take up Estate Management and Valuation for his undergraduate study in the United Kingdom despite the many cynical remarks of others.
“I have always had this penchant for property and its potential that comes with it since high school,” says Vincent with a grin.
While abroad, he found the study field was far broader than what it was thought to be by many Malaysians then and Vincent was more than delighted to envision the opportunities as to change the stigma and put the word ‘estate’ at a larger perspective in the local context.
PropLead: Leveraging the property management business
Vincent describes his journey in setting up PropLead as nothing short of a progressive experience with a learning curve for him. This is solely because he is a self-motivated person in paving his career pathway and determined to take his penchant to greater heights.
In his early years as a valuer at an international property consultancy firm, he would try his hand in every area of the business he could touch on, to ensure he would be well equipped with the knowledge to go further in the future.
As a fully-licensed property agent and a valuer, he is certainly aware of his responsibility as a leverage in the property management business to enhance investments despite the economic changes.
How PropLead was founded
In 2005, Vincent started his first company, Landserve Property Management Sdn Bhd, later known as Landserve Sdn Bhd with his partner, venturing into something more passion-challenging. Land Serve Sdn Bhd is an established company with services ranging from the estate agency, property management, valuation and research.
Later he upskilled himself by acquiring an even more challenge-driven experience at Knight Frank Malaysia Sdn Bhd, heading the Residential Property Management division and then joined Savills (Malaysia) Sdn Bhd, another British based property consultancy company with its additional expertise in providing assets management, commercial and residential property management.
At this point in his career, he was ready to embark on a property management business at his own risk and take up the challenge by establishing his very own company early this year and PropLead Sdn. Bhd is his brainchild after 25 years in the property management business… with his own ‘flavour’.
A visionary person
Vincent is discerning for the stagnant property management environment which is a labour-intensive industry and it is lacking in properly-trained personnel in the market.
“You may establish a well-structured company with a well-functioning framework which complies with its Standard Operation Procedure (SOP) but if you do not have good, competent and trusted employees, your company is destined for great challenges,” says Vincent with a unique vision of what a successful company should be.
Encompassing on the loyalty and trust among his staff, he is empowering good leadership and efficient teamwork among themselves to ensure the well-being of their workplace will translate into the success of PropLead.
Vincent finds the most common misconception about property management is the lack of the required knowledge and understanding among many Malaysians on how distinctively important a property management business is in upholding the market demand even during an economic downturn.
He is certain that the property management industry is as important as the roles of a property agent, especially in times of property value are challenging. The property manager will have to work on the strategic planning on how to maintain and enhance, if not to increase the property incomes and values.
Welcoming young talent to join property management
Vincent always believes in the young generation, who will come along with fresh positive ideas and new approaches towards the property management industry. He is seeing progressive changes since 2015, especially among the investors, old and new alike, in their requirements when investing in property.
This involves finding a balance, for example, in purchasing a well-facilitated property with a swimming pool that you hardly swim in or to get a well-maintained lot with proper resale value even without the luxury of facilities. The idea of a must-have good property manager is why Vincent sees a very bright future for property management industry, and he encourages the younger generation to consider this as career. .
“There will always be keen buyers somewhere waiting to take a peek at any new property launching and developer has always come up with innovative ideas to market their products,” he says.
On that note, Vincent believes that the country would need excellent property managers who are able to think of unique means and methods to provide their input into the designs and development of the projects.
It would be wonderful if futuristic designs and concepts are introduced in our new developments while keeping in mind of the operational costs that might be translated to the extra costs to be borne by the owners. Excellent property managers would bring about an efficient solution for the above and ensure that all elements are appropriately considered.
Diversifying products and services
The company, supported by 20 staff is looking forward to diversify its services within the near future by including the property agency and valuation and consultancy services. But for now, he is focusing on putting all his expertise onto the roadmap of success.
Furthermore, he would also like to overcome future challenges by acquiring good panels of service providers for support and always keeping a top notch quality service and deliver the most current ideas and solutions for his clients. Given his two decades of experience in the business, Vincent is more than confident and also understand what to expect from his clients or customers.
The Executive Director of PropLead keeps himself abreast with new technology and has always been enthusiastic in learning new ideas. He believes those trades will keep him in pace with the business.
If there is any advice Vincent would share with any newcomers in the business, “I firmly believed never to look down on our young generation despite the wide generation gap, because to my surprise, I always see fresh innovative ideas from them and that is a good sign in developing potential careers. So, for those who are up for the challenge, I encourage them to follow their instincts and really consider property management as a career,” he ends.