Property Agent Commission

[LPPL]

yes. how you know ?

Hdb is very easy to sell, mine was sold in a week after only 2 buyers came to view. My hdb was not even through an exclusive agent, it was open listing and so many agents wanted to market. When I told agents who called after they responded to my ad that i had 2 properties to sell, 1 hdb and 1 condo, almost all are interested to sell my hdb first without even finding out what condo I had. When agents find a buyer for an hdb flat fast, it is sometimes not that the agent is good, but because there is a huge demand. I feel that a real test for any agent is to sell a condo at a price higher than valuation, but so far all agents i come across for private are only interested to sell at value or below value for private, a really pathetic lot.

[Odyssey2011]

Just to share, I ever engaged a property agent to sell my house, and he told me that if he manages to sell at my asking price then I cannot ask him to find another buyer offering even higher price.  I thought it was fair, and in the end he found a buyer and transacted for me at a really good price (highest as compared to other same property in the same area).  He only took like two weeks and I gladly paid his comm as agreed, even though I thought it was easy for him.

 

It is still the selling price that matter most. Based on my experience,

 

Had tried offer a huge commission to agent, to sell my PC above valuation price, it didn't work at all, current market just find such buyer, i didn't blame my agent for 6 months of silence, as I wasn't being realistic at my asking price.

 

Then, I offered a market rate commission to agent, to sell my PC at valuation price, received some offers after 3 months but all offer under valuation price. I turn down all offers.

 

Then, I didn't want to wait anymore, already near 1 year, so I post it directly online to sell it DIY, at slightly under valuation price, waited for just 1 month, one offer came and I sell it to him straight away. 

 

I realise I don't really need agent, as ultimately it is the selling price which matter most in current market. In Singapore, information is well connected, good stuff at good price will naturally find it's buyer. Keen buyer on the other hand will not be sleeping doing nothing, they will also be actively looking for good deal. So, naturally buyer also looking for seller, with or without agents.

[Bismarck]

It is still the selling price that matter most. Based on my experience,

 

Had tried offer a huge commission to agent, to sell my PC above valuation price, it didn't work at all, current market just find such buyer, i didn't blame my agent for 6 months of silence, as I wasn't being realistic at my asking price.

 

Then, I offered a market rate commission to agent, to sell my PC at valuation price, received some offers after 3 months but all offer under valuation price. I turn down all offers.

 

Then, I didn't want to wait anymore, already near 1 year, so I post it directly online to sell it DIY, at slightly under valuation price, waited for just 1 month, one offer came and I sell it to him straight away.

 

I realise I don't really need agent, as ultimately it is the selling price which matter most in current market. In Singapore, information is well connected, good stuff at good price will naturally find it's buyer. Keen buyer on the other hand will not be sleeping doing nothing, they will also be actively looking for good deal. So, naturally buyer also looking for seller, with or without agents.

I think what you are saying is we need uberproperty/grabhouse [laugh] an app to match seller and buyer together

[LPPL]

It is still the selling price that matter most. Based on my experience,

 

Had tried offer a huge commission to agent, to sell my PC above valuation price, it didn't work at all, current market just find such buyer, i didn't blame my agent for 6 months of silence, as I wasn't being realistic at my asking price.

 

Then, I offered a market rate commission to agent, to sell my PC at valuation price, received some offers after 3 months but all offer under valuation price. I turn down all offers.

 

Then, I didn't want to wait anymore, already near 1 year, so I post it directly online to sell it DIY, at slightly under valuation price, waited for just 1 month, one offer came and I sell it to him straight away.

 

I realise I don't really need agent, as ultimately it is the selling price which matter most in current market. In Singapore, information is well connected, good stuff at good price will naturally find it's buyer. Keen buyer on the other hand will not be sleeping doing nothing, they will also be actively looking for good deal. So, naturally buyer also looking for seller, with or without agents.

That's the thing, agents these days are more interested to sell PC at value or under. They always say sellers are unrealistic, but they fail to realise that sellers are paying agents good money to add value by getting them higher prices, not selling at value or under. In fact, the higher asking prices are caused by the agents, coz the seller needs to factor in agent com. If a seller wants to sell at value or under, they don't really need an agent. It is just a matter of time a solid app is created to link buyers to sellers so all of us and do away with the middleman.

[Jellandross]

Colleague asked me this question but I don't know the answer.

 

For HDB/Condo rental, can a single agent be servicing the landlord and the tenant at the same time? And does the agent get double 1-month commission from both landlord and tenant?

 

My colleague is looking to rent out his place and he only see the tenants viewing the place but never their agent. So he assume the tenants are direct clients of his own agent too.

 

Gam sia hamida for the advice property gurus.

Edited April 27, 2017 by Jellandross

[Bismarck]

Colleague asked me this question but I don't know the answer.

 

For HDB/Condo rental, can a single agent be servicing the landlord and the tenant at the same time? And does the agent get double 1-month commission from both landlord and tenant?

 

My colleague is looking to rent out his place and he only see the tenants viewing the place but never their agent. So he assume the tenants are direct clients of his own agent too.

 

Gam sia hamida for the advice property gurus.

 

Agents are not supposed to get commissions from both sides.