Property tips, observations, and actual experiences

[Staff69]

me  now at 12.4      but jumping to 52.5 soon.

 

 

 

if shu qi wants me  

Edited May 3, 2018 by Staff69

[golden_eagle]

When one buys a unit smaller than 50 sqm, will it be likely that the strata share value of the unit is rounded up to 1 while large units are likely being rounded down? During enbloc, will the compensation the owner get be based on share value or gross sqft? 

 

[Showster]

When one buys a unit smaller than 50 sqm, will it be likely that the strata share value of the unit is rounded up to 1 while large units are likely being rounded down? During enbloc, will the compensation the owner get be based on share value or gross sqft?

Voting is based on share value, compensation more on gross sqft.

[golden_eagle]

Voting is based on share value, compensation more on gross sqft.

 

I see. I see. 

[Newbie26]

Bro, dont wait for the bus that will never come

 

There are thousands of Shu Yi around you, if you look deeper enough 

 

 

 

 

 

me  now at 12.4      but jumping to 52.5 soon.

 

 

 

if shu qi wants me

 

[Sdf4786k]

This is a very unfortunate incident.

 

What happen is that this could be an open listing where the owner sent his house photos to the agent to market.  The agent then, without checking the photo, simply post it up to the online platforms/

 

When I started my career, I would refuse to list any listings with owners photo if they are open listing. I would request to allow me to go to the unit to take photos myself.  If the owner refuse or no time to entertain my request,  I would drop that owner. I do this because

 

1) I want to meet the owner and understand his requirements. Nothing beats meeting face to face and advise him properly even if there is no exclusive given

2) By seeing the unit myself, I can position the unit better for sale or rental.  There is no way I can describe a unit accurately to a prospect  simply by looking at owners photo

3) Most owners photo are the same ones given to every agent and I do not want my listing to be the same as others.

4) By only looking at owners photo, there is no guarantee that is exactly the house that I am marketing. Sometimes owner may make mistake by sending a wrong set of photos and last I want is to surprise the viewer that the house he came for is different from the photos.

 

This particular case is really a wake up call to all open listing agents.  I hope everyone learn something from it including the owners.

not true. They post and the agent will always say the unit that I last sold was this ..(messy and smaller ) than this and already just gotten word that there is already a buyer closing the deal. So this one that I am showing you while its cheaper and better maintain will be gone soon. Fast hand fast leg and pass me the cheque..  

[Kusje]

I'd like to share my experience when selling my flat the last time.

 

1) Give exclusive rights to your agent. The agent must be recommended through word of mouth from someone you know we'll. Giving exclusive means he will be more committed to selling your flat at the highest price possible since it's to his benefit to do so. Having only one point of contact for you is better so that you don't have to manage mutiple clashes of schedules for viewing.

 

Once you give him exclusive, it is to his advantage to sell the flat as quickly as possible (most probably for as low as you will accept!)

 

2) Clean up and declutter your whole flat first. Then get the agent to organise a single day open house within the first week of listing. Having an open house with multiple prospects create an illusion of competition and brings out the kiasu nature. When you know you have competition, you wanna make a fast decision if it's your dream flat. During the open house, switch on the air con and lights for the whole house, diffuse some nice aromatherapy scents, basically make your place like a developer showflat so that it feels good to the senses

 

3) During small talk with your prospects, Always say you're upgrading no matter what. To a bigger place, or better location, or to EC/condo/landed. This implies that the flat has good fengshui, it has brought you huat huat that's why you're upgrading, and it can help influence their decision.

 

[Theoldjaffa]

 

That means you had the wrong agent, sorry to say.

[Nav14]

That means you had the wrong agent, sorry to say.

Edited May 11, 2018 by Nav14

[Theoldjaffa]

I always put car salesmen and property agents. in the same category. They will say anything , twist & turn to get their commission. Applies to at least 95% of them. I am not lucky enough to find someone who falls in the remaining 5% and thus will stick to non-exclusive whether selling or leasing out.

Maybe the 5% can only be found in this forum and gathered here to enlighten us on why we should have exclusive agents,

That's why agents I use must be referred via word of mouth.

 

So far I've not had any lousy salesperson for my property, car and reno.

[Kusje]

That means you had the wrong agent, sorry to say.

[Theoldjaffa]

Of course.... but if you think you got the "right agent", is it necessary to give exclusive?

 

fact remains that giving exclusive only gives the agent the opportunity to push you to accept a lower price so they can close the deal.

Yes I stand by my decision to give exclusive. It's an endorsement of my commitment to him in exchange for his commitment to give me his best effort to get me the best price so as to get the highest comm.

 

It's like marriage you know, if you found the right woman, is it necessary to get married?

[Kusje]

Yes I stand by my decision to give exclusive. It's an endorsement of my commitment to him in exchange for his commitment to give me his best effort to get me the best price so as to get the highest comm.

 

It's like marriage you know, if you found the right woman, is it necessary to get married?

[Theoldjaffa]

By giving him exclusive, you are giving his your commitment to him...

 

But where is he giving his commitment to you at the same time to get you the best price? Unless your commission structure is tiered, selling price is not going to affect the commission much at all so "highest commission" is meaningless.

 

Read the sentence I highlighted from your post again...

 

 

Can share how selling at the highest price possible is to his benefit? Mind you, this has nothing to do with whether or not your agent is a good one or not. I can agree that giving exclusive to him means he will be more committed to push your flat because he knows he is the only one marketing it so he has higher chance.

 

Selling price and commission (1%):

 

1. Sell for 1mil: 10k commision

2. Sell for 1mil+30k : 10k+300dollars

 

if you are the agent, ithe incentive to close the sale with you by trying to convince you that 1 mil is the best you can get is going to be stronger than telling you that you can get 1.03mil if you wait a little since he risks losing his entire commission over 300 bucks.

Aiyo why do u keep biting on this?

 

I'm sharing my real life experience which worked for me.

 

If it doesn't work for you, so be it lor.

[Kusje]

aiyo...

 

i am sharing with others here lest they get suckered by their agent into signing exclusive but i didn't say you cannot sign exclusive so don't need to get too worked up la.

[Freeder]

Frankly speaking, we will definitely evaluate his personality, character, trustworthiness, integrity n etc before giving the agent the exclusivity..

If u dun give them this carrot, how u expect him to focus on your property?

You want good price n buyer , need to take some calculated risk..

We also have the right to push him for results..

If the agent is a snake , take it as a life learning lesson..

[Icedbs]

By giving him exclusive, you are giving his your commitment to him...

 

But where is he giving his commitment to you at the same time to get you the best price? Unless your commission structure is tiered, selling price is not going to affect the commission much at all so "highest commission" is meaningless.

 

Read the sentence I highlighted from your post again...

 

 

Can share how selling at the highest price possible is to his benefit? Mind you, this has nothing to do with whether or not your agent is a good one or not. I can agree that giving exclusive to him means he will be more committed to push your flat because he knows he is the only one marketing it so he has higher chance.

 

Selling price and commission (1%):

 

1. Sell for 1mil: 10k commision

2. Sell for 1mil+30k : 10k+300dollars

 

if you are the agent, ithe incentive to close the sale with you by trying to convince you that 1 mil is the best you can get is going to be stronger than telling you that you can get 1.03mil if you wait a little since he risks losing his entire commission over 300 bucks.

 

Let me chip in this because I know where you are coming from.

 

But let me ask you a question.

 

If you think that agents will push for a low price simply to close (when selling), then between an open listing agent and an exclusive agent, who do you think will be more incline and quicker to do so?

Edited May 11, 2018 by Icedbs

[Sdf4786k]

By giving him exclusive, you are giving his your commitment to him...

 

But where is he giving his commitment to you at the same time to get you the best price? Unless your commission structure is tiered, selling price is not going to affect the commission much at all so "highest commission" is meaningless.

 

Read the sentence I highlighted from your post again...

 

 

Can share how selling at the highest price possible is to his benefit? Mind you, this has nothing to do with whether or not your agent is a good one or not. I can agree that giving exclusive to him means he will be more committed to push your flat because he knows he is the only one marketing it so he has higher chance.

 

Selling price and commission (1%):

 

1. Sell for 1mil: 10k commision

2. Sell for 1mil+30k : 10k+300dollars

 

if you are the agent, ithe incentive to close the sale with you by trying to convince you that 1 mil is the best you can get is going to be stronger than telling you that you can get 1.03mil if you wait a little since he risks losing his entire commission over 300 bucks.

 

its a no brainer, sell multiple 1mil rather then have to deal with 20 viewing and buyers whim and fancy like .. "tell me why should I buy this unit ..." kind of ego trip...

 

The same cannot be said for a average 30Mil GCB...

Edited May 13, 2018 by Sdf4786k