Don't pay 1% commission if you find the flat yourself

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Don't pay 1% commission if you find the flat yourself

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Guest	10 Oct 08 12:14 am No2COV wrote: Anonymous wrote: Anonymous wrote: Anonymous wrote: Anonymous wrote: I think sellers should be encouraged to advertise directly over here or other similar web sites, Keep open house every Saturday and Sunday for atleast two weeks to discover best possible price buyer want to offer. This will create win win situation for both buyer and seller. If both parties save on agents commission deals will be settled faster. Try think from seller perspective...if you want to sell your house now...would you want to engage agent? well, for me I definitely will...why? Because when agent come and knock on your door...you can just tell them that you want to sell your house at 20K or 30K COV...and ask the agent to sell more for his own commission...Don't care how much you can sell...as long as I can get 20K cash nett! is that make sense? Different case for those who have to sell urgently but for those who are not serious...why not just give it a try? nothing to lose...if the agent can sell with good price then sell if not then don't sell loh... If I'm selling my flat now, I'm definitely not engaging any agent. Coz if I want sell at cov 20K for a flat say 200K, 2% comm is 4k, so I get 16K instead of 20K. - That why i said the seller will ask the agent to sell at at least 22K (20K + 2K agent commission..negotiate to 1% instead of 2%)...well, that is what the seller did when i bought his house. He is smart! If agent cannot get buyer at such high cov, selling of house say drag til price drop and have to sell at valuation, I still have to sell and pay a few Ks commission (bomb!) even if I don't get any cash from the sales proceed (wah lao eh heart pain pain leh!) - Thats why I said there are some not serious seller just try their luck. they dont care whether can sell or not, if can sell high good for them if not then dont sell. And anyway, price drop or increase..no one will know... So if I sell it myself, i earn 100% cov and even if sell at valuation, i don't have to fork out any cash to pay agent. - try to read carefully and understand it. Even if seller ask agent to sell...they will get what they want as well, but of course to the expense of buyers!! just like you want to sell your car at 60K and you ask someone to sell it for you...you do not care how much they can sell as long as you get what you want (the 60K). No more commission...its up to them to earn their commission from the selling price...thats why there are lots of agent out there given freedom to sell at certain price by seller. Resale procedure is quite straight forward and paper work is not that difficult afterall, with HDB's help... - Yes, you are absolutely right. I've gone through that and it is bloody damn simple. But if im a seller, i will definitely engage agent. why bother to do those things when you can have the same result? [color=orange](if same result why engage and pay?)[/color] Do our own advertisments also won't cost us a bomb... No time to market own house?? Watch less TV (save electricity thus save $), do less shoppings (save $), less gatherings with friends and relatives, less posting non-essential messages (like what i'm doing now...), etc... after house sold we can use these saved $$ to celebrate at new house. thanks for sharing with us what some agents and sellers are doing...ripping buyers off! so much so for buyers paying commission to seller's agent...what services has the agent rendered to the buyer? only disservice! those who kept emphasis buyers need to pay seller's agent must be doing this or worst...get 2% + 1%...only one word for this type of agent...greedy! this type of practice should be reported! I'm just wondering, taking commission from both parties the seller and the buyer. Do you consider it as a bribery(in some sense)? At all time the agent should only act in the interest of 1 party. If he/she were to take from both, which side is he incline to? If he is already standing on the seller side, doesn't it seem that, taking money again from the buyer is like a form of corruption and bribery? Would it have been better if government impose such a law that in a single transaction, an agent can only represent 1 party and can only charge on their respective party. Should such a law be impose, do you think the agent will still be so -censored-? And between fellow agent, the case of undercutting become lower.