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 03 May 08 10:43 am |
| Anonymous wrote: | At the end of the day , buyer still can decide to pay or not to pay the Seller agent ...If you think the agent is not working for you then don't pay loh....  |
To some extend, yes if the buyer has express his concern to that agent not to engage him. otherwise, you must pay if you have signed the papers.
Otherwise we would break the law of commercial contract. Let us be fair to everyone.
If agent refuse to sell to you because of buyer unwilling to pay his commission (and u offer reasonable price), then the agent is not doing his fiduciary duty upon him by his principal. Inform the principal (the seller). It up to the seller to disengage the agent since the agent is not acting on his interest. |
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03 May 08 11:10 am |
Most of the time when the buyers make an offer to the sellers agent, whose interest will the sellers agent be acting for?? The buyer or the seller??
Of cos the seller cos when they want the exclusive, they promise the moon and the sun to the seller and they have to close a deal at a price beneficial to the seller. Where does that leave the seller??
I agree paying a minimal fee of less than $500 for the effort of doing paperwork. |
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03 May 08 1:20 pm |
| Anonymous wrote: | | Anonymous wrote: | | At the end of the day , buyer still can decide to pay or not to pay the Seller agent ...If you think the agent is not working for you then don't pay loh.... |
To some extend, yes if the buyer has express his concern to that agent not to engage him. otherwise, you must pay if you have signed the papers.
Otherwise we would break the law of commercial contract. Let us be fair to everyone.
If agent refuse to sell to you because of buyer unwilling to pay his commission (and u offer reasonable price), then the agent is not doing his fiduciary duty upon him by his principal. Inform the principal (the seller). It up to the seller to disengage the agent since the agent is not acting on his interest. |
The trouble is, half the time the agent 'hides' the seller. How to contact him to tell him that e.g. his agent is refusing a reasonable offer under co-broke and prefers to sell flat at a lower price because then he gets the whole 2%.
Sell flat at 300k co-broke. Commission only 1% = 3k
Sell flat at 280k non co-broke. Commission 2% = 5.6k
Not such a difficult decision for agents of a certain conscience, is it?
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03 May 08 1:41 pm |
| Anonymous wrote: | No money to pay agent commission then don't buy...look for other house in the market .......simple as that .... why complaining?????
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Just because people have money to spend doesn't mean they have to put up with arrogance, poor attitude and lousy service. There're certainly agents out there who give good service.
But it looks like most of the agents who come on this forum don't. Their messages reflect their attitude: they are arrogant, rude, they bully anyone whose view they don't agree with by trying to shout them down, they make fun of rivals.
They also think owners, buyers and tenants all owe them a living.
Not to mention that some also give misleading info deliberately.
Those people who feel that they're real professionals and dedicated agents and proud of it should perhaps dissociate themselves from the bad apples by posting their real name and photo, plus the company they're from when they go on forums.
Then if people want to a good agent they'd know of another place to look.
As for the rest who only wants to scold clients behind anonymous posts, those who post ads without relevant details, and those who multiple posts of similar ads within the same day etc... being professional will probably make you even more money. PS And you know what? Humility also won't hurt you.
BTW: Any IT wizards out there who have good ideas of starting an improved website for people looking for accommodation and honest, professional agents, pls share your ideas. There must be a better -- and more civilised -- way of getting a way. |
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03 May 08 1:51 pm |
I bought a house and i am an agent too...i paid for the 1% com.
Reason : i asked her to press down the price by a further 5K and she did it.
Some blacksheep in this industry :
Same unit I called twice.....
Called as buyer....V + 20K.... still can nego
Called as co-broke... V + 35K..... rude and unfriendly attitude
I think it is a PN or ERA agent.....
What the hack!!!!! What sort of agent is that...somemore a director level...screw up team. |
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03 May 08 2:10 pm |
with the property boom last year every tom, dick and harry became property agent for making easy money. Lousy service and attitude.
Such agents give a bad name to all professional agents who have been working full time for many years, through ups and downs of property cycle.
So find agents with long track record. Not those new ones who are out to make quick buck out of you. The pro agents will provide you service well worth the 1% you buyers pay. |
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03 May 08 7:21 pm |
| Ya i don't understand y must we pay the 1% if we called the agents that advertised units for sale????? We are not engaging them we are merely responding to their ads!!! WAKEUP AGENTS! |
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03 May 08 9:37 pm |
| Anonymous wrote: | If agents are so efficient and professional, how come there're buyers who ended up losers because they had been 'misinformed' about their eligibility for loans, grants etc or because their agents 'forgot' to hand in OTP, loan applications, loan approvals etc?
If your logic goes, then when we go to the supermarket and buy something from one of those auntie demonstrators who earn commission for each item they sell, we must also pay them a commission on top of the item price.
Pleeeeze.  |
Agreed on the above that inefficient & unethical agent really "misformed" buyers/direct buyers & giving me, direct buyers rotten excuses like "forgot" to let one of the buyers/sellers signed OTP pages, "forgot" to request buyers' for neccessary docs for OTP submission & this & that etc therefore delay the OTP submission where all the unsatisfied services had provided & didn't help to solve problems for me & leaving the headache probs for me to handle it & keep siding the sellers' interests that this rotten sellers' agent didn't get to . Even I provide solutions to give 1 mth rental $ to the sellers or other ways to help the sellers yet they still unwilling to compromise & these rotten agent still dare to ask for more rental $. With this kind of unprofessional, unethical, inefficent bad services from this rotten sellers' agent, is it worth paying 1% full commission as I damn unwilling to pay it for such a bad service that I damn unsatisfied & bothered by it? How should I do regarding this rotten agent? Can any1 advises me on this commission thing? Tks |
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04 May 08 1:47 am |
Some agents apparently consider that they have rendered a service to an independent buyer (who has not engaged his/her own agent) if they have arranged for a viewing. But isn't arranging for viewings part of the service that a seller's agent should provide to his client, the seller?
If the seller's agent arranges for a viewing for a buyer who is represented by his/her own agent, does the seller's agent also demand a 1% commission from the buyer's agent or the buyer directly? If not, then why should an independent buyer have to pay such a commission to the seller's agent?
Obviously an independent buyer who refuses to pay the seller's agent a fee should not expect that the agent do any of the required paperwork for the buyer. If the independent buyer expects the agent to do the paperwork for him, then yes, he should pay a fee to the agent. But the commission should not amount to 1% of the sale price. After all, the agent has done none of the time-consuming research or work involved in looking for a flat for the buyer - looking through newspapers/checking the Internet everyday, making multiple calls to enquire about flats, making viewing appointments, etc etc...Which I'm sure many buyers will agree constitute the bulk of the work involved in finding their ideal flat. |
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04 May 08 3:01 pm |
| Anonymous wrote: | No problem, can dont pay these agents their commisions.
So agents if any of the buyers do not want to pay you,
just do your normal duty (act for the sellers only).
Let them sign the OTP, let them pay the amt of deposit owner request (usually $1K, although min is $1, owner will of course wants the max right).
Let them find and apply for their loans and lawyers themselves,
if anything doesn't goes smoothly within 14 days, their deposit gone right?
Who is to be blame then? |
By the way, loan can be applied through banks/hdb; lawyers can engage the HDB ones too. You must be a agent then from the way you reply this issue. I really do hope we have more owners doing their own advertisements so that we can all eliminate agents! |
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04 May 08 3:32 pm |
| I notice too, some agent would put 'NO-COBROKE'. So they can earn the 1% from direct buyers. Very very very greedy agent. Boooo~~ |
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04 May 08 8:52 pm |
When will it be a good time to inform the seller's agent that I will not pay him/her the 1% comms?
And why does the seller's agent has the right to "hide" the seller? I read some comments that the seller may not get to know the offer made by any prospective buyer. Why can't the discussion of the offer price be made in front of the seller and its agent? Is it a market norm? |
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Objection
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04 May 08 11:04 pm |
Dear ignorance,
Below website is for you to enchance your knowlegde in selling & buying practice.
http://www.iea.org.sg/
Service Fee in restaurant has become a MUST regardless of the service is good or bad. Before it became complusory, there was alot of feedback about it. Now??? People will pay for it without even knowing it.
Does buyer &/or seller need to pay agent commission? Will that depend on whether the services given or not? Every deal comes with a term & condition. If you agreed with the term & condition than you will proceed with the deal and even bind a contract, am i right? Same goes with buying & selling a property. What i can say is that not all property agent are bad/good. There are some who are terrible as they are not train and do not provide a basic service to their customer. Some agents are worst, they only work partime in real estate therefore are not updated with the changes & update of the industry. However there are still good ones and excellent ones in town. It's just that you have not encounter. I have personally encounter both the good and bad ones, therefore i can share my experience here with you guys.
Dont just because of saving a few thousand $$$ on the agent commission and make you loose your Hundred Thousands or Million Dollars of your asset.
Would you want to be like this seller or buyer?
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An owner by trying to save an agent commission, sell his house without an agent. After waiting for more than 5-6 months, he finally found a buyer (without an agent also) who is willing to pay him the price he wants. Both parties are extremely happy as the seller get the price he wants and the buyer got his dream home. Both party signed the contract. A sad news break out to both party one day. The Buyer is not eligible to purchase his flat and the seller is also not eligible to sell his flat as he is under bankruptcy. The buyer face a big problem as he already sold his property to others. The seller got sue by the buyer.
Cases like this do happen. How to prevent them? Get a middle man to qualified the seller and buyer. Who? The Property Agent lah...
Hope my experience do give you some idea of why should or should not pay an agent commission. |
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Guest
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04 May 08 11:40 pm |
Thank you for the link, Objection. But I'm not sure if what the Institute of Estate Agents (IEA) says is law. I think it can only recommend -- and only to its members.
And if its members are unprofessional, does IEA have the power to sack them? Anyway, you don't have to be a IEA member to be a property agent. It's not like the organisation ruling the lawyers (forgot name). Once sacked, a lawyer cannot practise anymore.
Maybe those who know can tell us more?
| Objection wrote: | Dear ignorance,
Below website is for you to enchance your knowlegde in selling & buying practice.
http://www.iea.org.sg/
Service Fee in restaurant has become a MUST regardless of the service is good or bad. Before it became complusory, there was alot of feedback about it. Now??? People will pay for it without even knowing it.
Does buyer &/or seller need to pay agent commission? Will that depend on whether the services given or not? Every deal comes with a term & condition. If you agreed with the term & condition than you will proceed with the deal and even bind a contract, am i right? Same goes with buying & selling a property. What i can say is that not all property agent are bad/good. There are some who are terrible as they are not train and do not provide a basic service to their customer. Some agents are worst, they only work partime in real estate therefore are not updated with the changes & update of the industry. However there are still good ones and excellent ones in town. It's just that you have not encounter. I have personally encounter both the good and bad ones, therefore i can share my experience here with you guys.
Dont just because of saving a few thousand $$$ on the agent commission and make you loose your Hundred Thousands or Million Dollars of your asset.
Would you want to be like this seller or buyer?
=============================
An owner by trying to save an agent commission, sell his house without an agent. After waiting for more than 5-6 months, he finally found a buyer (without an agent also) who is willing to pay him the price he wants. Both parties are extremely happy as the seller get the price he wants and the buyer got his dream home. Both party signed the contract. A sad news break out to both party one day. The Buyer is not eligible to purchase his flat and the seller is also not eligible to sell his flat as he is under bankruptcy. The buyer face a big problem as he already sold his property to others. The seller got sue by the buyer.
Cases like this do happen. How to prevent them? Get a middle man to qualified the seller and buyer. Who? The Property Agent lah...
Hope my experience do give you some idea of why should or should not pay an agent commission. |
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05 May 08 9:35 am |
| Objection wrote: | Dear ignorance,
=============================
An owner by trying to save an agent commission, sell his house without an agent. After waiting for more than 5-6 months, he finally found a buyer (without an agent also) who is willing to pay him the price he wants. Both parties are extremely happy as the seller get the price he wants and the buyer got his dream home. Both party signed the contract. A sad news break out to both party one day. The Buyer is not eligible to purchase his flat and the seller is also not eligible to sell his flat as he is under bankruptcy. The buyer face a big problem as he already sold his property to others. The seller got sue by the buyer.
Cases like this do happen. How to prevent them? Get a middle man to qualified the seller and buyer. Who? The Property Agent lah...
Hope my experience do give you some idea of why should or should not pay an agent commission. |
What can a middle man do when this kind of issue happened?
The middle man can provide a cheap temp place for buyer to stay until buyer get a new home?
The middle man will sue the seller and claim all the money? for buyer?
The middle man will protect the seller for being sued ans settle everything for him?
Mostly, the middle man will said, "I cant help much, I'm not a lawyer. You can try goto this... that, etc. nothing much you can do about that, bye bye." At this min, you can see their true face. A very very bad attitude when problem arrise. |
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05 May 08 11:49 am |
I too had a problem with my agent.
Completed the deal and later find out that the owner owes HDB some money (10K) for unpaid taxes. Without that getting cleared HDB wouldnt let me move in. The owner refused to pay, said got no money and other nonsense... and insisted that I clear the 10K with HDB.
I was already on deadline to vacate my current house and this matter got stuck. Agent was no help. Said he had no idea about this and just pushed me to options like talking to MP, writing to HDB etc. In the end I had to spend days petitioning HDB and finally they reduced the amount to 5K which I paid.
I had to suffer because my agent didnt do his job properly.
So make sure you get reliable agent. You see their true colour only when the deal has a problem. Good deal they are all smiles and coming on time to collect their commisson. |
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ceiljoven
Joined: 03 May 2008
Posts: 4
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05 May 08 12:10 pm |
I am looking for a reliable agent to handle my house matters but i do not know where to look for this person that i can trust.
:? |
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05 May 08 1:45 pm |
If seller hire people to sell their ppty, then seller pay whatever comm he has agreed with his agent.
I feel that the agent should not collect comm from buyer who has never hired him. Why pay comm to seller's agent? Isn't it crazy and totally illogical?
All the admin procedure is available in HDB website and even if the buyer is blur, he can just go to HDB office and the admin pple there will explain to him and guide him. No big deal in terms of doing admin on his own, no need to pay comm or fee to seller's agent. Maybe buy him a cup of kopi if he help you and if he very helpful, send forms to your house, fill for you, etc. You can give him some transport money and small hong bao. |
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NoService
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05 May 08 4:41 pm |
| Objection wrote: | Dear ignorance,
Service Fee in restaurant has become a MUST regardless of the service is good or bad. Before it became complusory, there was alot of feedback about it. Now??? People will pay for it without even knowing it. |
If the service in a restaurant is very bad, I complain - multiple times if I have to - during the meal. If it doesn't improve, I refuse to pay the service charge. Most restaurants I've been to end up accepting that they will not get the service charge from me, even if they are surprised or unhappy about it.
If the service has been substandard, don't pay the fee, or don't pay the full fee if it's not deserved. This should appy also to commissions paid to housing agents.
Stand up for your rights! |
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