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 09 Oct 08 9:21 am |
bro No2COV, I think the agent confused by you liao lah...so chiam  |
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09 Oct 08 12:00 pm |
| Anonymous wrote: | | bro No2COV, I think the agent confused by you liao lah...so chiam |
U mean "chim"? no it's not "chim" at all! very simple, just like sales promoters in shopping centre earning commission, people buy, they earn commission, they don't claim commission from buyers. If they claim, they have to tell buyers --> "if i dont promote to you how you buy? so you must pay me commission if you want to buy..."
Insurance agents advertise their services also don't collect commission from buyers!
Simple?  |
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09 Oct 08 12:30 pm |
| Anonymous wrote: | | Anonymous wrote: | | bro No2COV, I think the agent confused by you liao lah...so chiam |
U mean "chim"? no it's not "chim" at all! very simple, just like sales promoters in shopping centre earning commission, people buy, they earn commission, they don't claim commission from buyers. If they claim, they have to tell buyers --> "if i dont promote to you how you buy? so you must pay me commission if you want to buy..."
Insurance agents advertise their services also don't collect commission from buyers!
Simple? |
It's quite simple. Unfortunately, greed has overtaken the agents' brains and they are unable to see this simple logic.
sad |
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09 Oct 08 1:30 pm |
| 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. |
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09 Oct 08 1:40 pm |
| 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... |
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09 Oct 08 2:26 pm |
Using agents is necessary.
Whats important for seller is to talk directly to buyer atleast once before signing on papers. They should be clear on how much buyer is paying. No hidden deals from agents.
If everything over table, then everyone happy. |
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09 Oct 08 2:35 pm |
Don't pay 1% commission if you find the flat yourself
I believe the issues is clear... From the seller point of view, they engage the agent to market and sell for them, they ought to pay commission to agent. Buyer who look for the flat themselve need not and should not pay the commission to the seller's agent. I still think the analogy of no free lunch in the world.
Are seller's agent entitled to such free lunch? Isn't it a conflict of interest on both end? Moreover..... why pay commission to the agent when at the end of the day, you know that the agent will eventually be standing on the seller side.
I would agree on commission if the agent actually assist in the look out for the unit and are able to fight for a good price for me.
No free lunch in this world. |
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09 Oct 08 2:46 pm |
Good for buyer to pay agent the commission.
I just got my flat and i searched for it through nationproperty. I offered 15K COV but the agent said that the buyer already rejected a 22K offer.
then when i said that my max budget is 18K, the agent said if i top up her fee by an extra 3K, she will get the seller to agree to 15K 
moral of story - pay more and you will save more! |
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09 Oct 08 2:52 pm |
| Anonymous wrote: | Don't pay 1% commission if you find the flat yourself
I believe the issues is clear... From the seller point of view, they engage the agent to market and sell for them, they ought to pay commission to agent. Buyer who look for the flat themselve need not and should not pay the commission to the seller's agent. I still think the analogy of no free lunch in the world.
Are seller's agent entitled to such free lunch? Isn't it a conflict of interest on both end? Moreover..... why pay commission to the agent when at the end of the day, you know that the agent will eventually be standing on the seller side.
I would agree on commission if the agent actually assist in the look out for the unit and are able to fight for a good price for me.
No free lunch in this world. |
I understand your point there. The problem is most seller bo chap once they engage an agent...I think seller gotta be more involve and at least know the buyers and how much offer has been made by the buyer...if not, the agent got the power to determine which buyer he wants to sell to...
When I bought mine...i did everything myself but still I gotta pay 1% commission to the agent. WHY? Because if you don't pay...the agent rather sell to other buyer who most probably offer lower COV but pay him commission...so end up who lose the most? It's not seller or agent...it's buyer...
When they have that power... |
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09 Oct 08 2:55 pm |
| Anonymous wrote: | Good for buyer to pay agent the commission.
I just got my flat and i searched for it through nationproperty. I offered 15K COV but the agent said that the buyer already rejected a 22K offer.
then when i said that my max budget is 18K, the agent said if i top up her fee by an extra 3K, she will get the seller to agree to 15K
moral of story - pay more and you will save more! |
This is exacly what i was talking about...most sellers are controlled by the agent...the seller needs to be more involved...but to think of it? WHY should they? as long as they get what they want from the agent...why bother? end of the day, buyer is the one who got the most disadvantage. |
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09 Oct 08 3:17 pm |
| 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... |
For this buyer must offer you "valuation+20k+2%(you pay to agent)=Amount x" . That means buyer is willing to pay "Amount x". So if seller advertise himself he will keep the entire "amount x" and buyer save 1% he has to pay to an agent. So it is a win win situation for both and deal is likely to be settled immediately, this is the whole idea about open house for 2 or more weeks to discover the best possible price from buyers who are out in the market to buy immediately. In this market where economy is not doing well and valuation of HDB may also drop, this is the best possible strategy for quick results. |
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09 Oct 08 3:23 pm |
| 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. 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!) 
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.
Resale procedure is quite straight forward and paper work is not that difficult afterall, with HDB's help... 
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. |
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09 Oct 08 3:28 pm |
| 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... |
For this buyer must offer you "valuation+20k+2%(you pay to agent)=Amount x" . That means buyer is willing to pay "Amount x". So if seller advertise himself he will keep the entire "amount x" and buyer save 1% he has to pay to an agent. So it is a win win situation for both and deal is likely to be settled immediately, this is the whole idea about open house for 2 or more weeks to discover the best possible price from buyers who are out in the market to buy immediately. In this market where economy is not doing well and valuation of HDB may also drop, this is the best possible strategy for quick results. |
in my case..the agent get 1% from me and 1% from seller...so the seller actually did not pay the agent any fee and get what he is asking for as well...eventhough I did all the job...I browse net and newspaper, call him, go to view the flat myself, go back myself, apply HLE myself, chase HDB to speed up the HLE myself, go for the 1st appointment and make payment to HDB myself...actually, it's a very simple job...btw, Roy from HDB is very helpful and friendly...
I got no choice but to pay him. He has already indicated even before i go for viewing...so to be fair just give him loh...most important i get what i want though i have to pay 5K to him. Think of it sometimes heartache lah...5K can buy lots of furniture liao but wat to do when the seller just bo chap? give everything to agent to settle? |
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09 Oct 08 3:30 pm |
i have a doubt here, if i already offered cov 20k, but the seller agent keep to ask 25k, he say seller wont accept 20k one...how i know this is true or nt ler??can i approach the seller directly and ask them whether accept 20k or not??
| 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. 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!)
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.
Resale procedure is quite straight forward and paper work is not that difficult afterall, with HDB's help...
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. |
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09 Oct 08 3:34 pm |
There is such thing called 'market value'. Certain things just simply have market value, regardless of the amount of effort, input, etc.
Hollywood celebrities just by cutting ribbons or appearance in some events are paid millions just to be present during the events. This is market value.
You pay income tax, what has the taxman done in your job for them to collect income tax from you. Surely there are valid reasons behind everything.
Please pay your due when required, one should never shortchange others.
The agent has provided one some tangible and intangible services after the purchase, it is just that some misers choose not to recognise based only on their silly and stubborn naive thinking that the service they had already consumed they just unwilling to pay.
No free lunch in this world my friend!
| Anonymous wrote: | | Anonymous wrote: | | If you buy a 42' lcd tv & decide to carry home yourself. Will you tell the salesman. "Hey, i saw this promo myself, i came down myself, choose myself & even carry home myself, i am not using any service from gov. WHY AM I PAYING 7% GST???" |
Simple reasoning for this fact...... If I need the company to deliver the LCD TV to my place, I pay for the delievry charge. If I carry it back myself, I dun have to. Does Harvey normal charge you delivery chatge for items you cash and carry? Obviously no right?
Do you pay commission to agent who don't service you? Another obvious no. |
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09 Oct 08 3:35 pm |
| Anonymous wrote: | i have a doubt here, if i already offered cov 20k, but the seller agent keep to ask 25k, he say seller wont accept 20k one...how i know this is true or nt ler??can i approach the seller directly and ask them whether accept 20k or not??
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Better not, could be sued by the agent |
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09 Oct 08 3:39 pm |
| i have a doubt here, if i already offered cov 20k, but the seller agent keep to ask 25k, he say seller wont accept 20k one...how i know this is true or nt ler??can i approach the seller directly and ask them whether accept 20k or not?? |
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09 Oct 08 3:40 pm |
Sued by agent?? really?
| Anonymous wrote: | | Anonymous wrote: | i have a doubt here, if i already offered cov 20k, but the seller agent keep to ask 25k, he say seller wont accept 20k one...how i know this is true or nt ler??can i approach the seller directly and ask them whether accept 20k or not??
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Better not, could be sued by the agent |
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09 Oct 08 3:40 pm |
| 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?
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. |
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