Some things I just don't understand

[Rayleigh]

I'm going to sell me flat and buy a resale flat which is nearer to my kids pri sch. And these are the problems I've encountered in the buy/sell process.

 

1. Must I be represented by a agent before I can go view a flat listed on various websites? (I've called the seller agent and they say no agent with me, I cannot view)

 

2. Is the selling an buying controlled more by the agent or the owner/buyer? Some ad says no co broke some says co broke only. That's to say if my agent don't want to co broke with the other agent I won't even have the chance to view and needless to say buy the targeted flat.

 

3. Which agency is governing the prop agent, from what I see now there seems to be no one looking over them. There is no fixed comm structure, like market lelong now. What co broke no co broke, is co broking even allowed? The prop agent are becoming more like old days car dealer.

 

4. The agent is forcing me to sell my flat now and forcing me to buy one of the flats I viewed. Sorry but WTF!! The selling price is not what I wanted and the flat that he wants me to buy is not to my liking. So I said no and his face turn black.

 

I don't want to jump the gun and have a negative impression on these prop agent so I hope some bros from the prop inds can enlighten me. Hopefully there are still some that is not blinded by the money making and losing the heart.

 

Thanks

 

 

I took one year to search for my dream house and have viewed countless units (under different agents). Dun commit into a house you dun like. It's a life long commitment. Set yourself a realistic selling and buying price with some tolerance. Stand firm by it, even if the agents are throwing thunder and storm against you, you would not be sway. You must have the attitude of take it or leave it.......

Edited February 11, 2010 by Rayleigh

[Williee]

1. No, you do not need to be accompany by a agent to view the flat.

Few of the reasons I could think of which they rejected you.

The seller agent prefer to deal with a agent rather than serve a buyer which is you.

In some cases, they may also trying to be the agent for you and the seller.

 

2. Please remember you have the final say when it to buying/selling your house. Sadly, you are correct if your agent doesn't want to co-broke.

 

3. Co-broking is allowed. Please remember comm is determine by you and how the agent justify their comm to you.

 

4. This is a common problem in the property market. The agent is trying to get you to sell your flat while at the same time trying to clear their current stock of flats they are holding on to.

 

If you have any questions, please feel free to ask.

[Chalk]

1. No, you do not need to be accompany by a agent to view the flat.

Few of the reasons I could think of which they rejected you.

The seller agent prefer to deal with a agent rather than serve a buyer which is you.

In some cases, they may also trying to be the agent for you and the seller.

 

2. Please remember you have the final say when it to buying/selling your house. Sadly, you are correct if your agent doesn't want to co-broke.

 

3. Co-broking is allowed. Please remember comm is determine by you and how the agent justify their comm to you.

 

4. This is a common problem in the property market. The agent is trying to get you to sell your flat while at the same time trying to clear their current stock of flats they are holding on to.

 

If you have any questions, please feel free to ask.

 

 

Thanks bro for the answer, but if I wanna go view the flat as a buyer an the seller agent reject me. I'm thinking it's like I tell cab I wanna go sungei gedong he refuse to take me there and I will definetly complain. Who give them the right to say I cannot go and view and deprive the seller of a potential buyer.

 

Thanks again bro u are a great help!

[Tigerwoods]

always remember you are the BOSS, not the bloody agents.....

 

whatever u wan to do, just tell it straight to the agent's face, and insist it shall be done accordingly.

 

if u wan to work with a good agent, PM me. (I'm not an agent, but my agent is quite good. At least he's honest)

If the agent always claims or says he knows everything DON'T engage him.

 

[Williee]

Thanks bro for the answer, but if I wanna go view the flat as a buyer an the seller agent reject me. I'm thinking it's like I tell cab I wanna go sungei gedong he refuse to take me there and I will definetly complain. Who give them the right to say I cannot go and view and deprive the seller of a potential buyer.

 

Thanks again bro u are a great help!

 

Did the seller agent tell you the offer to meet?

If you reject their offer or too low of their selling price, they will reject you even before you view the flat.

[Modykoh]

For item 3, understand that there will be some regulatory guide line in the pipeline, basically to define buyer/seller agent to avoid conflict of interest.

 

The pipeline like very long leh, been so long already and govt still dun wanna step up to control them, really getting out of hand already. I wanna find out which agency is regulating them cos I wanna complain already, buay tahan them already. Full of crap man, all the agents!!!

 

Heard from the market industry that it will be very soon...as you mentioned..How soon ...?

 

[Busybody]

4. The agent is forcing me to sell my flat now and forcing me to buy one of the flats I viewed. Sorry but WTF!! The selling price is not what I wanted and the flat that he wants me to buy is not to my liking. So I said no and his face turn black. Never ever sell a house before u getting one, u may end up waiting long to get another one. There are cases where ppl sell house without getting another house ended u got to rent the house for months before getting a new one.

 

 

Hello Chalk,

 

I was in your shoes just 6months ago :)

 

Contrary to the post above, my advice is to sell your house FIRST before getting another because the maximum Bank/HDB loan you can take up is 90%.

 

This means you need to cough up 10% cash, in addition to agent commissions. This amount will make a few months of rental & hassle seem like peanuts. Of course i'm assuming you don't have cash on hand; pardon me if I've offended your sensibilities :P

 

If you need more info, PM me and good luck with your sale/purchase !

[Modykoh]

This type of agent don look far

[Williee]

This type of agent don look far

[Modykoh]

Hello Chalk,

 

I was in your shoes just 6months ago :)

 

Contrary to the post above, my advice is to sell your house FIRST before getting another because the maximum Bank/HDB loan you can take up is 90%.

 

This means you need to cough up 10% cash, in addition to agent commissions. This amount will make a few months of rental & hassle seem like peanuts. Of course i'm assuming you don't have cash on hand; pardon me if I've offended your sensibilities :P

 

If you need more info, PM me and good luck with your sale/purchase !

 

The basic things is to get the bank to assess your loan limit before committing. Don

[Busybody]

No need to sign exclusive with any agent right? I was asked to sign and I said no.

 

If no exclusive was signed, the agent will give your flat "a lower priority"

 

This translates to lower exposure, less advertisements etc

 

And when your flat gets left in the market for some time, buyers start to speculate if there's something wrong with your flat since there are no takers.

 

It's a rock and a hard place...

 

 

[Joseph22]

If no exclusive was signed, the agent will give your flat "a lower priority"

 

This translates to lower exposure, less advertisements etc

 

And when your flat gets left in the market for some time, buyers start to speculate if there's something wrong with your flat since there are no takers.

 

It's a rock and a hard place...

 

Not true. No exclusive could also mean that they are figthing with other ppl who are viewing the flat. Unless they have tonnes of exclusive flat on their stock.

 

However, having multiple Agent could also create one problem.

 

Assuming you are asking for 300K. you got 3 agent.

 

Agent A - Market at 320K

Agent B - Market at 300K

Agent C - Market at 290K

 

If you are the buyer, who will you call first?

This could be the reason why its harder to sell at your expected price.

Edited February 11, 2010 by Joseph22

[Busybody]

Not true. No exclusive could also mean that they are figthing with other ppl who are viewing the flat. Unless they have tonnes of exclusive flat on their stock.

 

However, having multiple Agent could also create one problem.

 

Assuming you are asking for 300K. you got 3 agent.

 

Agent A - Market at 320K

Agent B - Market at 300K

Agent C - Market at 290K

 

If you are the buyer, who will you call first?

This could be the reason why its harder to sell at your expected price.

 

Which part is Not True? And what is your point?

 

Are you saying without exclusive, "Buyers with Agents" will compete with "Buyers without Agents" and therefore seller will expect a lower selling price? or will seller expect a higher price?

[Joseph22]

Which part is Not True? And what is your point?

 

Are you saying without exclusive, "Buyers with Agents" will compete with "Buyers without Agents" and therefore seller will expect a lower selling price? or will seller expect a higher price?

 

The part on low priority might not be true. Cause ppl might be rushing for sales of the flat.

 

As for the without exclusive but multiple agent, if all market at the same time with different price, the one who post the lowest Asking price will get most if not all the calls. So you might get a lower selling price especially if that person market your flat at a price lower than your expected amount.

Edited February 11, 2010 by Joseph22

[Busybody]

yep, I see, that might be one of the scenarios...

[Benarsenal]

I'm going to sell me flat and buy a resale flat which is nearer to my kids pri sch. And these are the problems I've encountered in the buy/sell process.

 

1. Must I be represented by a agent before I can go view a flat listed on various websites? (I've called the seller agent and they say no agent with me, I cannot view)

 

2. Is the selling an buying controlled more by the agent or the owner/buyer? Some ad says no co broke some says co broke only. That's to say if my agent don't want to co broke with the other agent I won't even have the chance to view and needless to say buy the targeted flat.

 

3. Which agency is governing the prop agent, from what I see now there seems to be no one looking over them. There is no fixed comm structure, like market lelong now. What co broke no co broke, is co broking even allowed? The prop agent are becoming more like old days car dealer.

 

4. The agent is forcing me to sell my flat now and forcing me to buy one of the flats I viewed. Sorry but WTF!! The selling price is not what I wanted and the flat that he wants me to buy is not to my liking. So I said no and his face turn black.

 

I don't want to jump the gun and have a negative impression on these prop agent so I hope some bros from the prop inds can enlighten me. Hopefully there are still some that is not blinded by the money making and losing the heart.

 

Thanks

 

To answer your questions simply.

 

1. No

 

2. Seller/buyer ultimately have the final say. Agents are just to help smoothen the process.

 

3) There's no real regulatory body for housing agents. Now it's free market for all.

 

4. You make the final decision, not your agent.

 

It's exactly scum agents like these that made me give up being an agent myself. The money is great, but I can't be bothered dealing with f*** up idiots.

 

[Edtang]

You can try to use this service from www.nextdistrict.com Basically it allows you to ensure that the best price from the buyers are known to you, whether the deals are co-broke or not. In many cases the agents might not tell you the best offer esp for co-broke deals as their commission will be affected. I had a worry when selling my flat previous as the agents always try to dissuade the buyer/seller to discuss the price etc. This site allows the buyer to bid transparently so the agents can still help to find the buyers but cannot affect the pricing.

[Modykoh]

You can try to use this service from www.nextdistrict.com Basically it allows you to ensure that the best price from the buyers are known to you, whether the deals are co-broke or not. In many cases the agents might not tell you the best offer esp for co-broke deals as their commission will be affected. I had a worry when selling my flat previous as the agents always try to dissuade the buyer/seller to discuss the price etc. This site allows the buyer to bid transparently so the agents can still help to find the buyers but cannot affect the pricing.

 

The range in this site is just too far off ley...if to see the transaction try using streetsine or URA, this give you a better insign...