IMAGINE getting paid $1 million for completing a deal in just one day.

That was what property agent Agnes Foo made when she successfully brokered an entire block of 11 apartments for a businessman recently.

And the block doesn't even exist yet.

Ms Foo got a $400,000 commission from the developer for snagging the $40 million deal.

Plus a generous tip of the same amount from the buyer.

And the buyer was so pleased that Ms Foo had been able to get him the property at a good price that he also bought her a $230,000 car.

She told The New Paper on Sunday: 'It's the highest amount that I've got in my (three years) experience.

'It still feels like a dream.'

It started in September when she spotted the potential in Three Buckley, a block of 11 apartments in Newton, even before the building plan approval was in.

The freehold Three Buckley - consisting of seven deluxe loft units and four superior attic units - is expected to be completed in 2012.

Based on a conservative calculation of $1,600 per sq ft against the total area of 26,500 sq ft, the total price of the development is more than $40 million.

Based on a 1 per cent commission, this translated to $400,000 for Ms Foo.

An agent typically takes home between $70,000 and $80,000 in commissions a year.

Developer Gazelle Land had appointed Ms Foo's agency, REA Realty, to sell the units.

The associate manager, 42, said: 'Given its ideal location - close proximity to more than five schools, including Raffles Girls Secondary School, Singapore Chinese Girls School and Anglo Chinese School, as well as to Orchard - I felt the price was quite a good offer.'

Ms Foo decided to approach her father and his regular group of businessman-friends, some of whom had bought commercial and residential units from her.

After her presentation, one of them was 'quite interested' in getting a unit.

She recalled: 'He asked for more details and while we were talking, he suggested that I contact his younger brother.'

It seemed that the businessman's brother had talked of wanting to invest in properties.

Ms Foo, who specialises in commercial and private properties, was pleased with the unexpected 'bonus'.

She said: 'For us, a new prospect means another chance to seal a deal.

'I'd hoped to sell a couple of units and it looked like I was closer to achieving my target.'

But Ms Foo had no idea what was to follow after the first meeting with her client.

She declined to provide details about him except that he is a businessman in his early 50s.

'When I asked him which unit he'd be interested in, I thought I heard an 'all',' she said.

'I wasn't sure if my ears were playing tricks on me or he was cracking a joke.'

STUNNED

So Ms Foo asked for a clarification and was stunned when he confirmed that he wanted to buy the entire block.

She laughed and said: 'I felt breathless and I could barely contain my excitement!'

Since it was an exclusive development with limited units and the project had not been launched in the open market, there was no rush of buyers.

And with the whole block being sold together, the developer was ready to bring down the price.

Ms Foo said: 'I know the deal was in the bag already but I was also sure that I could help him shave off a certain percentage.

'Making money is important, but more than that is the ability to provide honest service.'

She said some industry players felt she should have waited until the development was placed in the open market.

Said Ms Foo: 'I could possibly earn a higher commission this way, or if I had not gone to the extent of 'bargaining' for a better price.'

Instead, she ended up helping the businessman save close to $2m, which included savings in administration and stamp fees.

She added: 'I guess people think I was really stupid.'

But Ms Foo is having the last laugh. It turned out that the buyer was so pleased with her service that he offered her 'a generous tip of $400,000'.

On top of that, the client asked Ms Foo what she would like as a gift.

She said: 'I said in jest, oh you can get me a BMW convertible.'

That would cost about $230,000.

To her surprise, the client promptly agreed, and now, she is looking forward to taking possession of the brand new sports car, said Ms Foo who currently drives a year-old Hyundai Tuscani.

The mother of two girls and one boy - aged 17, 14 and 8 - intends to keep the Tuscani for her oldest daughter.

Her husband, who also dabbles in property, does not drive.

They also have a Mercedes - a family car - which her father uses.

Of her million-dollar jackpot, Ms Foo said she believed in 'tou zhi bu tou ji', that is staying for the long haul, and not doing business in a hit-and-run way.

She said: 'This way, you can always ensure that you can sustain your success.'

And it looks like she has done her sums right because she will get a second bite of the same cherry.

She has now been appointed to help market Three Buckley for the businessman.

MORE TO COME

Based on a modest calculation of the total sale price at $40m, this means Ms Foo will stand to earn at least another $400,000. She said: 'I guess this is what they mean by you reap what you sow.'

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