Property Agents' commission

[Galantspeedz]

Of course, but thats where we need to make certain judgement calls base on the job, marital status, nationality etc.....

 

So my point is dont just rent to anyone lah... make a good judgement call by meeting the tenant and having a chat (interview) etc.....

 

Its the same when buying used car, Rolex watch, property etc etc etc etc etc....

 

You can never be 100% sure but at least do due diligence.

Yes but of cuz some view money as more important....

[Showster]

Yes but of cuz some view money as more important....

True. That is why the people of these profiles find it generally harder to secure a place to stay.

 

Personally, I am quite patient in letting my agent screen for quality. No quality, I take as holiday home and enjoy.

 

And if urgent to rent out, would rather lower price than quality. Then of course there are those who will say rental price = quality.

 

In the end, different strategies...

[Throttle2]

Yes but of cuz some view money as more important....

Too bad lor

Everything in life has a trade off...

Cant have your cake and eat it.

 

You choose your own battles

Edited October 7, 2016 by Throttle2

[Throttle2]

Yah lah, exactly that.

Sorry i like to correct this.

What i meant by "exactly that" is the calculated risk part.

You just choose how you want to "calculate" that risk

 

There is absolutely no 100% but definitely if you engage the tenant in a simple conversation it helps in future communications and it does provide an insight to the person. Very similar to a friendly interview.

 

Thats my formula with 100% effectiveness.

Excellent cooperative tenants who took care of my property and made it real easier when i was selling it too...

 

To each his own as in everything in life.

[LPPL]

Sorry i like to correct this.

What i meant by "exactly that" is the calculated risk part.

You just choose how you want to "calculate" that risk

 

There is absolutely no 100% but definitely if you engage the tenant in a simple conversation it helps in future communications and it does provide an insight to the person. Very similar to a friendly interview.

 

Thats my formula with 100% effectiveness.

Excellent cooperative tenants who took care of my property and made it real easier when i was selling it too...

 

To each his own as in everything in life.

 

Do you rent to only EPs and SPs or you won't mind WPs in a group as well?

[Mercury1]

You don't try and be funny lah, drive your Porsche there and sell insurance.

 

Then again you sell insurance I am sure mcfers will suppork you, it will be worth it to finally meet the famed throttle2 

 

 

 

I think i go be insurance agent since i jobless. Sounds quite lucrative leh....

 

[Mercury1]

On a more serious note 

 

I like your approach of interviewing the tenant, I've been fortunate to have good tenants so far but its more because of my agent then myself. But I probably will do that next regardless of the agent securing it for me.

 

 

Sorry i like to correct this.
What i meant by "exactly that" is the calculated risk part.
You just choose how you want to "calculate" that risk

There is absolutely no 100% but definitely if you engage the tenant in a simple conversation it helps in future communications and it does provide an insight to the person. Very similar to a friendly interview.

Thats my formula with 100% effectiveness.
Excellent cooperative tenants who took care of my property and made it real easier when i was selling it too...

To each his own as in everything in life.

 

[Throttle2]

You don't try and be funny lah, drive your Porsche there and sell insurance.

 

Then again you sell insurance I am sure mcfers will suppork you, it will be worth it to finally meet the famed throttle2

 

I am selling my 911 leh....

No more Porsche very soon.

[SS316]

I have this issue which I hope to have a fair answer:

 

Recently, I rented out my HDB whole unit to a FT and as a landlord, I paid what is supposedly a com of half month for one year lease in accordance with the so called "TA" which I find crappy..

 

What shocked me was the Agent talk to the tenant privately (not during the signing of TA) downstair of my flat for half month com as well..

 

The Agent insist that this is a standard practice and as the tenant is a foreigner who does not quite understand the ruling, negotiated and agreed with Agent of 800 instead of 1000..after being cornered as the tenant is desparately needed a roof as the wife is expecting a child within the next couple of days, the Agent "managed" to find another co-broke to take the com as the tenant's agent.

 

By the time I knew, money has changed hand and the Agent tells me all kind of T&C but I told him that in the first place, you are not TRANSPARANT and did not display integrity, moral and good conduct professional property agent..

 

I believed many of these cases has already fall out due to the strict control by CEA but there are still some "old bird" still waiting to claw onto some ignorant non Singaporean.

 

Thank you

 

PS: The co-broke was NEVER in the picture till the final stage of the TA

[Throttle2]

Plse report to authorities accordingly

[Beregond]

personally i feel discussing agent commission is machiam discussing coffee shop 1 cup of coffee how many % profit lol

 

 

[SS316]

Plse report to authorities accordingly

 

Yes, I did and went to CEA office and all I hear was from the recep telling this...that and I was so fedup that I say:

 

CEA is a Toothless Tiger.....and she diam diam

 

From there, I knew that org is just another wayang company set up by the garmen...because in the past, there were too many ah beng scamming many poor chaps for easy money / com.

[LPPL]

I have this issue which I hope to have a fair answer:

 

Recently, I rented out my HDB whole unit to a FT and as a landlord, I paid what is supposedly a com of half month for one year lease in accordance with the so called "TA" which I find crappy..

 

What shocked me was the Agent talk to the tenant privately (not during the signing of TA) downstair of my flat for half month com as well..

 

The Agent insist that this is a standard practice and as the tenant is a foreigner who does not quite understand the ruling, negotiated and agreed with Agent of 800 instead of 1000..after being cornered as the tenant is desparately needed a roof as the wife is expecting a child within the next couple of days, the Agent "managed" to find another co-broke to take the com as the tenant's agent.

 

By the time I knew, money has changed hand and the Agent tells me all kind of T&C but I told him that in the first place, you are not TRANSPARANT and did not display integrity, moral and good conduct professional property agent..

 

I believed many of these cases has already fall out due to the strict control by CEA but there are still some "old bird" still waiting to claw onto some ignorant non Singaporean.

 

Thank you

 

PS: The co-broke was NEVER in the picture till the final stage of the TA

There is one agent by the name of Beverly who shamelessly takes com from seller as well as buyer last time. She even advised the new buyer landlord to rent out whole unit before MOP n don't declare to HDB. Edited October 8, 2016 by LPPL

[Sturtles]

Yes, I did and went to CEA office and all I hear was from the recep telling this...that and I was so fedup that I say:

 

CEA is a Toothless Tiger.....and she diam diam

 

From there, I knew that org is just another wayang company set up by the garmen...because in the past, there were too many ah beng scamming many poor chaps for easy money / com.

Everything in black and white.. shoot an email to CEA and see the written response.

[Icedbs]

I have this issue which I hope to have a fair answer:

 

Recently, I rented out my HDB whole unit to a FT and as a landlord, I paid what is supposedly a com of half month for one year lease in accordance with the so called "TA" which I find crappy..

 

What shocked me was the Agent talk to the tenant privately (not during the signing of TA) downstair of my flat for half month com as well..

 

The Agent insist that this is a standard practice and as the tenant is a foreigner who does not quite understand the ruling, negotiated and agreed with Agent of 800 instead of 1000..after being cornered as the tenant is desparately needed a roof as the wife is expecting a child within the next couple of days, the Agent "managed" to find another co-broke to take the com as the tenant's agent.

 

By the time I knew, money has changed hand and the Agent tells me all kind of T&C but I told him that in the first place, you are not TRANSPARANT and did not display integrity, moral and good conduct professional property agent..

 

I believed many of these cases has already fall out due to the strict control by CEA but there are still some "old bird" still waiting to claw onto some ignorant non Singaporean.

 

Thank you

 

PS: The co-broke was NEVER in the picture till the final stage of the TA

 

Agents are not suppose to take comm from both sides. If you already paid the agent his comm, then he is representing you and need to fight for your interest. PERIOD.

 

If a tenant has an agent and wanted to co-broke with your agent, then that is between them. But his first and foremost priority is to represent you and not go and negotiate another comm with the tenant either for himself or for another agent.

 

Just recently, due to some small misunderstanding with the co-broke agent (Landlord agent) , I decided not to take comm  just to ensure that my tenant has a place that he loves and could fit into his budget. Sometimes as an agent, such situation happens and I rather sacrifice comm than to compromise promises and integrity.  Money can always earn back, there will always be another deal somewhere out there.

 

 

 

Edited October 9, 2016 by Icedbs

[SS316]

Everything in black and white.. shoot an email to CEA and see the written response.

 

In theory, you are correct..

 

But if you ever walk into CEA office, you will know why I say that it's a waste of time with the answer I get:

 

We will review and feedback in a couple of months after investigating.

 

It's best you sort out yourself

 

Speak to the company the Agent represent

 

The latest I heard from the CEO of my case, he said that CEA now only handles critical or complex issues (that means mine is not) to elimates the complaints from the public....

 

With these, I feel that CEA is just like CASE.......

 

Anyway, I have learnt my lesson and hope that those out there whether to engage Agent or not, just be careful as there are still many crooks hidden in the dark awaiting for suckers.....

[Still2016]

I believe it boils down to public education. The apparent opaque the process, exaggerated complexity of process and the impetus of the CEA to help public knows what entails in property transaction and eliminate fear of something goes wrong with signing on the dotted line, are some reasons why after so many years we are still where we are with little progress.

 

It also sometimes marvel at the way some of property buyers (self stay or investors) carry out their property transaction. Some of these buyers when they buy a can of food which cost a few dollars, they will check where they are made, expiratory date, any rust on the can and some got the extreme and examine the nutritional value BUT when come to their property transaction which may cost a million dollars and up, they just leave everything to their agent.  

 

Hence, property buyer and seller also have their responsibility and since it is their money and property. If they don't look after their own asset, do you expect others to look after for you.

 

 

 

 

[SS316]

There is one agent by the name of Beverly who shamelessly takes com from seller as well as buyer last time. She even advised the new buyer landlord to rent out whole unit before MOP n don't declare to HDB.

 

I think Beverly is the same league with my Agent Teo......try to con as much as possible then quit when their time is up....