He ‘marries’ real estate industry for financial stability

• Muhazrol Muhammad is a Registered Estate Agent attached to IQI Realty Sdn Bhd as the Head of Bumiputera Segment and leader for Team iRealty.

“I will be your guide to one of the most dynamic real estate markets in the world.” 

The quote, on Muhazrol Muhammad’s page in IQI Global’s portal, shows the confidence he has on the real estate industry in Malaysia, where he holds a portfolio of mostly sale in the primary and subsale markets in areas of the southern Klang Valley. 

Muhazrol is a Registered Estate Agent currently attached to IQI Realty Sdn Bhd as the Head of Bumiputera Segment and leader for Team iRealty. 

Muhazrol has been in the industry for 12 years now, having joined an agency based in Bangi in 2010. 

On why he chose this path, Muhazrol said he entered the real estate world to gain financial stability. 

“I made a few financial mistakes and was burdened with high monthly commitments. So I was looking for a solution to the issue,” he said.

Having been introduced to this industry by a friend, he managed to close the first deal on his very first appointment! 

“That’s when I decided to ‘marry’ the industry and is active until now,” he said.

With his prior experience in sales and marketing, Muhazrol realised he would have great potential in this industry.  

“Another thing was I found that this industry could provide a quick solution for my financial need with a low capital or entry cost. So, that’s why I stayed,” he noted. 

Sharing about the first deal he closed, he said he managed to obtain an online listing that belonged to a friend, and went on to fix an appointment with a buyer. 

“It was a double-storey medium-cost house in Kajang … The house was actually run-down and wasn’t in good condition, but I believed the price offered was good, and with some repair and renovation, would be a good deal for the buyer.

“So, during the viewing, I focused on the benefits and functionality of the property. I also sparked  their imagination (and) told them how it would look like when they did this or that … and then I left the couple in the house to discuss between themselves. Eventually, they came out with the decision to buy the property,” he said. 

Muhazrol, who is also the deputy president of Persatuan Perunding Hartanah Muslim Malaysia (PEHAM) and a member of the Estate Agency Practice Committee for the Board of Valuers, Appraisers, Estate Agents & Property Managers Malaysia (BOVAEAP), said he always sees rejection as a good thing. 

“I always see [a potential buyer’s] initial rejection as a good thing because it’s a sign that they understand the property. So, based on the rejection or objection, I would turn them around to finally buy the property. 

“What I do is, I would seek to understand their points of rejection, then I would offer the counter- solutions, and then just move on to the next thing,” he shared. 

Overcoming challenges

On the challenges in the industry, he said marketing is the biggest challenge, and over the last 12 years, the cost of marketing has increased so much and become so complicated and time-consuming. 

“But, thanks to EdgeProp, which offers an affordable package with proven results, we could leverage its brand and existing customers,” he said.  

He added that IQI Realty agents get to enjoy the marketing collaboration offered by EdgeProp, whereby the agents have to just post their listings in one of the platforms and get to enjoy the best from the both platforms.

He said that during the first Movement Control Order, the industry and his vocation became stagnant, as he was an agent focusing on subsale. 

“I literally couldn’t do anything … so we focused more on improving our knowledge in terms of marketing, technology and lots of things,” Muhazrol said.

They also spent their time learning within that period, as well as sharing their property knowledge with the market, which helped a lot on improving the company’s profile in the market. 

As a HRDF (Human Resources Development Fund)-certified trainer and Islamic financial planner, Muhazrol has developed an online seminar for the property and financial market for the past few years.

Commenting on the state of the current market, Muhazrol said the National Property Information Centre (Napic) report shows that the Malaysian house price index has only increased 0.5% from last year and decreased 1.2% compared to the previous quarter, which shows that the market is dominated by the power of purchasers and the price is not entirely dictated by the suppliers. 

“Given that the inflation rate is rising in Malaysia, I believe the demand for property in Malaysia will increase over the next few months, but BNM (Bank Negara Malaysia)’s reinstatement of our OPR (overnight policy rate) will give a little resistance to this movement,” he said.