How to deal with property agents!?
- Thread starter Pinky
- Start date
MonacoBlue
Well-Known Member
Re: How to deal with property agents!?
sound like a good idea - cause the value is 10% right more than the 1 percent he earns... but maybe can reduce to 5%. so it works in the agent's favour, else he just stick to the high price.
is this allowed ?
sound like a good idea - cause the value is 10% right more than the 1 percent he earns... but maybe can reduce to 5%. so it works in the agent's favour, else he just stick to the high price.
is this allowed ?
Skin Fir;959076 said:
Boomerang
Well-Known Member
Re: How to deal with property agents!?
One of the issues I have with unscrupulous agents is that they refuse to arrange a viewing for you even though you are a genuine buyer, because the property is 'under negotiation'. If it's 'under negotiation' it probably means the offer is below the owner's asking price but the owner is considering it... which means the agent could get a higher price for the property for the owner, he just doesn't want the hassle! To him whether close at 2 million or 1.96m, his difference in commission is just $800. I think a lot of agents these days very complacent and lazy - they forget they are serving both the seller and the buyer, they just want easy money. I've been hunting for property for months already and some of these agents frustrate me.
One of the issues I have with unscrupulous agents is that they refuse to arrange a viewing for you even though you are a genuine buyer, because the property is 'under negotiation'. If it's 'under negotiation' it probably means the offer is below the owner's asking price but the owner is considering it... which means the agent could get a higher price for the property for the owner, he just doesn't want the hassle! To him whether close at 2 million or 1.96m, his difference in commission is just $800. I think a lot of agents these days very complacent and lazy - they forget they are serving both the seller and the buyer, they just want easy money. I've been hunting for property for months already and some of these agents frustrate me.
acschnitzer13
Well-Known Member
Re: How to deal with property agents!?
Hi Boomerang, just to correct you on the serving of both sellers and buyers part. An agent can only be serving one party but not both (it's an offence under dual representation rule), that's under the fiduciary duty part under the law. So if an agent is serving wither one party and the other party does not have an agent to represent him/her. The agent can help out by way of "duty of care" but the agent's loyalty ultimately rests with whoever he/she represented in the first place.
Hi Boomerang, just to correct you on the serving of both sellers and buyers part. An agent can only be serving one party but not both (it's an offence under dual representation rule), that's under the fiduciary duty part under the law. So if an agent is serving wither one party and the other party does not have an agent to represent him/her. The agent can help out by way of "duty of care" but the agent's loyalty ultimately rests with whoever he/she represented in the first place.
acschnitzer13
Well-Known Member
Re: How to deal with property agents!?
Hi Boomerang, just to correct you on the serving of both sellers and buyers part (no offence there). An agent can only be serving one party but not both (it's an offence under dual representation rule), that's under the fiduciary duty part under the law. So if an agent is serving wither one party and the other party does not have an agent to represent him/her. The agent can help out by way of "duty of care" but the agent's loyalty ultimately rests with whoever he/she represented in the first place.
Hi Boomerang, just to correct you on the serving of both sellers and buyers part (no offence there). An agent can only be serving one party but not both (it's an offence under dual representation rule), that's under the fiduciary duty part under the law. So if an agent is serving wither one party and the other party does not have an agent to represent him/her. The agent can help out by way of "duty of care" but the agent's loyalty ultimately rests with whoever he/she represented in the first place.
acschnitzer13
Well-Known Member
Re: How to deal with property agents!?
Btw, if you are still hunting for your apartment, do pm me your requirements and i will see if i can be of any help
Btw, if you are still hunting for your apartment, do pm me your requirements and i will see if i can be of any help
Boomerang;959423 said:
acschnitzer13
Well-Known Member
Re: How to deal with property agents!?
epong;960389 said:
acschnitzer13
Well-Known Member
Re: How to deal with property agents!?
I have to agree with you on your post on the part where most of these agents would just turn away other potential buyers because it's under negotiation. I have come across many times myself when I am making arrangements for my buyers on these "under nego" houses. They just dun bother because they do not want to prolong the sale cycle if there's another offer coming in.
Boomerang;960419 said:
I have to agree with you on your post on the part where most of these agents would just turn away other potential buyers because it's under negotiation. I have come across many times myself when I am making arrangements for my buyers on these "under nego" houses. They just dun bother because they do not want to prolong the sale cycle if there's another offer coming in.
T6
Well-Known Member
Re: How to deal with property agents!?
If you too good with nego, not sure how to handle a seller agent, or not sure of last done price for similar stack etc, there is no harm bringing in your own agent who knows the tricks of the trade etc.
If you like, I can recommend you a good agent I can vouch for. He has consistently helped me secure high sale price for my units and could broker places that I want to buy - at the price I want. Not all agents are articulate or know how to close deals. I good agent is like a mediator who can reach a price that both seller and buyer can live with.
Pinky;891794 said:
If you too good with nego, not sure how to handle a seller agent, or not sure of last done price for similar stack etc, there is no harm bringing in your own agent who knows the tricks of the trade etc.
If you like, I can recommend you a good agent I can vouch for. He has consistently helped me secure high sale price for my units and could broker places that I want to buy - at the price I want. Not all agents are articulate or know how to close deals. I good agent is like a mediator who can reach a price that both seller and buyer can live with.
detach8
Well-Known Member
Re: How to deal with property agents!?
You know why it's like this?
Because willing seller willing buyer. Got demand, got supply.
IMHO...
STOP BUYING PROPERTIES! THERE'S NOT ENOUGH RENTAL TO GO AROUND!
I've decided not to buy property for now. All stop. Don't even visit showroom.
You know why it's like this?
Because willing seller willing buyer. Got demand, got supply.
IMHO...
STOP BUYING PROPERTIES! THERE'S NOT ENOUGH RENTAL TO GO AROUND!
I've decided not to buy property for now. All stop. Don't even visit showroom.
blazor
Well-Known Member
Re: How to deal with property agents!?
Yeah, there bound to have some 无间道 going on by some Bad Eggs despite the Estate Agent Act been passed in parliament abt 2yrs back to regulate the industry. But before that, it was like 'Wild Wild West' if you know what I mean hehee...
The best we can do is to comprain/leeport any these kind of hanky panky to CEA to weed out as much of these bad eggs as possible loh
C3P0;983815 said:
Yeah, there bound to have some 无间道 going on by some Bad Eggs despite the Estate Agent Act been passed in parliament abt 2yrs back to regulate the industry. But before that, it was like 'Wild Wild West' if you know what I mean hehee...
The best we can do is to comprain/leeport any these kind of hanky panky to CEA to weed out as much of these bad eggs as possible loh
