SINGAPORE – Luxury real estate has become an intriguing spectacle in the modern era, largely fueled by popular reality TV shows like Netflix’s "Selling Sunset," which has garnered an astounding 259 million hours of viewing globally in 2023 alone. Yet, the portrayal of luxury realtors in these shows often paints an image far removed from the gritty reality that Singapore’s top real estate agents experience.

Luxury agents in Singapore, as reported by The Straits Times, emphasize the challenges they face, which starkly contrast the glamorous lifestyles depicted on-screen. While high value properties and affluent clients come along with the territory, the day-to-day operations of these agents require hard work and resilience.

In the first half of 2024, Singapore recorded 382 prime non-landed and landed residential units sold, totaling a remarkable $3.3 billion, according to real estate consultancy Knight Frank. One standout transaction was a stunning penthouse at Skywaters Residences in Shenton Way, sold for an eye-watering $47.3 million, equating to a soaring $6,100 per square foot.

Among the top agents is Michele Cabasug, 49, an American originally from Hawaii. She transitioned into the Singapore luxury real estate market in 2005 and has made a name for herself as a savvy negotiator. With grit, she serves affluent clients while maintaining a low-profile, straightforward approach, which resonates with the discerning elite.

“The clients I mostly deal with are billionaires; they don't require entertainment but rather a professional service,” Cabasug explains. Known for her no-nonsense strategies, she has effectively handled high-value distressed properties and has accrued impressive sales, such as a Sentosa Cove bungalow for $22 million.

Cabasug’s journey to becoming a leading luxury realtor was marked by personal challenges, including raising three children as a single mother. Her practical attitude extends to her work ethic, often clocking in 12 to 14-hour days, where flexibility is key in catering to the demands of high-net-worth individuals who often have unpredictable schedules.

Contrastingly, real estate couple Sunita Gill and Kaizar Karkaria adopt a more personal approach, integrating their professional and social lives. They emphasize the importance of familiarity and trust within Singapore’s high society, which can significantly influence luxury transactions. Their recent sales include a $45 million bungalow and a $15 million penthouse, showcasing their knack for securing top properties through relationship building.

Moreover, Shen Jiaming and Joelle Chew, another successful realtor couple, believe in a more business-oriented approach. Since entering the luxury market post-2008 financial crisis, they emphasize professionalism over socializing. “Clients appreciate that we do our job without the need for social mingling,” Ms. Chew remarks. Their impressive sales, including a recent $25 million sale, highlight the effectiveness of their pragmatic approach in the luxury segment.

As the luxury market continues to grow in Singapore, characterized by well-heeled buyers primarily from China, India, and the United States, these agents must navigate a unique landscape that requires understanding the subtle distinctions of wealth and property collecting.

Dr. Tan Tee Khoon from PropertyGuru Singapore notes that high-net-worth individuals expect a personalized service that goes beyond standard real estate offerings, recommending VIP tours and tailored property options. Furthermore, there is a shift in perception among buyers; luxury properties are often seen not merely as investments but as collection pieces, with many showing little urgency in their purchasing decisions.

With growing competition—over 35,251 registered property agents in Singapore as of January—agents like Cabasug, Gill, Karkaria, Shen, and Chew have carved their niches through varying strategies, lifecycles in their careers, and personalized client experiences. The real estate landscape continues to be competitive yet thrilling, with a clear takeaway: selling luxury properties in Singapore may draw inspiration from the flashy world of reality TV, but it requires hard work, tact, and a deep understanding of both the market and the individuals within it.

Thus, while the luxury real estate business in Singapore may not boast the glamour presented in the media, it holds an undeniable allure for those capable of navigating its complexities.