Property Agents' commission

[Showster]

It depends how busy you are to manage the tenant, but seriously, there isn't much to manage for local tenants unless landlords have a problem unit that need maintenance all the time.

Some people travel a lot for their work. I got a friend half the time not in SG. He has got units in China as well as locally.

 

Some tenants may delay payment as well. If quality tenant with time to follow then no need agent.

 

But their net is larger so first time usually get them.

Edited June 10, 2016 by Showster

[LPPL]

Some people travel a lot for their work. I got a friend half the time not in SG. He has got units in China as well as locally.

 

Some tenants may delay payment as well. If quality tenant with time to follow then no need agent.

 

But their net is larger so first time usually get them.

That is why finding the right tenant is important. I always tell people that it is better to forego that extra $100-200 a month to get a better tenant. I have agents telling me I can get $2800 but must accept 4 to 6 people on WP in my unit, another professional couple comes along and offers me $2500-2600 I will go with the couple. Some landlords are simply greedy so they get what they deserve sometimes. I have never had issues with collecting rent coz I always screen my tenants. I am always fortunate to be able to find tenants that travel all the time but still pay rent on the first day of every month. Edited June 10, 2016 by LPPL

[Showster]

Likewise.

 

Only tenants that have proven their mettle get to transact direct. So far those have been steady, collect less is fine.

 

But managing multiple units plus full time job requiring travel might be quite a handful for most.

 

No right or wrong.

 

That is why finding the right tenant is important. I always tell people that it is better to forego that extra $100-200 a month to get a better tenant. I have agents telling me I can get $2800 but must accept 4 to 6 people on WP in my unit, another professional couple comes along and offers me $2500-2600 I will go with the couple. Some landlords are simply greedy so they get what they deserve sometimes. I have never had issues with collecting rent coz I always screen my tenants. I am always fortunate to be able to find tenants that travel all the time but still pay rent on the first day of every month.

[tenyawph]

http://www.theedgeproperty.com.sg/my/tags/dleedon

Stay first, pay later at d’Leedon and The Interlace

14 Jun 2016

 

In this article, I came across this:

 

Wheelock Properties rolled out the “ABSD assistance package” at Ardmore Three on April 13 comprising a 15% discount and a 15% ABSD rebate. It has since moved at least 32 units at the project. Separately, Wing Tai Holdings is understood to have offered a 6% commission to agents for The Crest in April and May.

 

The small-size (and hence cheaper) unit in The Crest is priced at $1M and upwards.  Hence, the commission for selling an unit is already guaranteed to be $60K and upwards.

 

But it is hard to sell any units in significant numbers for this condo development.  Just last month, only 7 units were sold.  

 

[Wyfitms]

4-5% is quite common now

 

glad to see wing tai offering 6%

 

maybe will see 10% very soon! 

[Icedbs]

Agents don't handle all the paperwork, they only handle the sales and purchase agreement, after that, they throw it to the lawyers and they don't need to see you again except to collect their commission. In fact I feel it is high time someone came up with a website to match buyer and seller together without the need for agents.

 

The paperwork part is more than just S&P thesedays.

 

Reason is because CEA wants transparency in every step between agent and seller/buyer.

 

So for e.g, even to advertise a property for the seller, the agent need the seller to consent on a form for approval. The letter of consent has to even specify if the agent can only do an exclusive advertisement or he can rope in other agents to market for him. In the old days,  any marketing goes as long the agent can sell the property. Then there is also recent PDPA to complicate the process.

 

This is just one simple example where paperwork has to be involved. There are many others.

 

Not so easy thesedays. As I said before, if things are simple, then why CEA need agents to pass the RES exam before they can become agent? Some people I know fail multiple times in that exam before they pass. And these people includes degree holders/Masters.  Ask around and most will tell you how difficult this paper is.

 

 

 

 

[Kusje]

The paperwork part is more than just S&P thesedays.

 

Reason is because CEA wants transparency in every step between agent and seller/buyer.

 

So for e.g, even to advertise a property for the seller, the agent need the seller to consent on a form for approval. The letter of consent has to even specify if the agent can only do an exclusive advertisement or he can rope in other agents to market for him. In the old days,  any marketing goes as long the agent can sell the property. Then there is also recent PDPA to complicate the process.

 

This is just one simple example where paperwork has to be involved. There are many others.

 

Not so easy thesedays. As I said before, if things are simple, then why CEA need agents to pass the RES exam before they can become agent? Some people I know fail multiple times in that exam before they pass. And these people includes degree holders/Masters.  Ask around and most will tell you how difficult this paper is.

 

Really?

 

I always thought those that fail were those old timer agents who didn't have much education in the past but are very good at sales.

[Icedbs]

Really?

 

I always thought those that fail were those old timer agents who didn't have much education in the past but are very good at sales.

 

Bro, if I am not wrong, those old time existing agents didn't need to take RES because they took another paper in the very old days. Maybe some older agents can comment.

 

But the purpose of RES is to really filter out the new agents, those who are serious and committed and not any ah beng, ah seng. A majority of RES paper 1 is on professional ethics and code of conduct, and it is not a simple Yes/No/True/False kind of question.  Paper 2 is mostly on HDB and it is a killer.

[Wyfitms]

Bro, if I am not wrong, those old time existing agents didn't need to take RES because they took another paper in the very old days. Maybe some older agents can comment.

 

But the purpose of RES is to really filter out the new agents, those who are serious and committed and not any ah beng, ah seng. A majority of RES paper 1 is on professional ethics and code of conduct, and it is not a simple Yes/No/True/False kind of question. Paper 2 is mostly on HDB and it is a killer.

U took the exams? Yes it is very tough now

 

Word on the street is passing rate is about 30%. Many of the failures could be double degree, masters etc lol

[Wyfitms]

How i wish i can be top 3 every month   

 

 

 

[Sturtles]

How i wish i can be top 3 every month   

 

 

agent 1.jpg

 

agent 2.jpg

 

 

Wowo.... The Top 10 earns more than the top civil servants in SG, only slightly less than a Minister.

 

In fact, the top 50 earns on the higher end of the Superscale basis

[Showster]

Where to download the application form?

 

How i wish i can be top 3 every month   

 

 

agent 1.jpg

 

agent 2.jpg

 

[SuPerBoRed]

https://sg.news.yahoo.com/is-it-because-my-wife-is-indian-042312582.html

 

guys issit true?? this type of soft market still have landlords ''nitty-picky''?

 

i have a feeling this bugger creating a bruha story to corner the ''discriminated'' crowd...  

 

and considering he was recently in the news... seems he is quite social media savvy yea?

 

 

dont wanna listen to his one sided story.. may i ask if there is anyone who can verify that there are indeed people who discrimante SO MUCH against other races?

[Meanmachine]

How i wish i can be top 3 every month   

 

 

agent 1.jpg

 

agent 2.jpg

 

 

   Dont judge by the top 10 agents, it is lots of hard work put in, if one think by becoming RES can make tons of money, why don't you come in and try for next 24 months, then share your experiences , closing and misses.

[Sturtles]

https://sg.news.yahoo.com/is-it-because-my-wife-is-indian-042312582.html

 

guys issit true?? this type of soft market still have landlords ''nitty-picky''?

 

i have a feeling this bugger creating a bruha story to corner the ''discriminated'' crowd...  

 

and considering he was recently in the news... seems he is quite social media savvy yea?

 

 

dont wanna listen to his one sided story.. may i ask if there is anyone who can verify that there are indeed people who discrimante SO MUCH against other races?

 

 

Ya know, similar mentality is also found in some of the older pioneer generations?

 

Its the "I have paid for it, hence I can the take everything from the property", aka "Airline Cutlery is Mine" syndrome

 

Many came from poorer backgrounds, and its a dog eat dog society where they are from, hence such a mindset.

 

Unfortunately, it is also manifested in many educated migrants, and we are bringing in proportionally large quantities, causing a destabilization of the society.

[Meanmachine]

what is the objective of this thread, being a property or life insurance agents or even car salesman ?, thy are commission basis, and I'm pretty sure at least 1-2 of them are our relatives, ex-colleagues or friends are in the same trade or industry, not being stereotyping them, at least thy don't go out to rob, steal and cheat people.

 

This are decent sale orientated people who earned a decent living, if thy ahem done well, it is their forte of selling/ a special breed group of people, Someone just mentioned Real Estate personnel are never obsolete, true or false, we can't actually fathom the notion, coz I do believe few of my friends are in these lines ( Car sales- relatives, Life insurance ( ex-school teacher and RES ( biz owners ). Thy prefer the easy hours of working and earning their keep.

[Tonydeath]

Some housing agents worked very hard and they do deserved the commission and just don't use if you don't like them and don't have to be so mean. Moreover insurance agents earns much more and you paid them without any complains??????

[Showster]

Definitely true.

 

The authorities also cannot state that landlords cannot prefer certain profiles of tenants or tenants cannot prefer a certain landlord profile.

 

Can also choose whether want singles or families and what types of families. With more deferring their purchase (pent up demand), rental transactions have grown much more than sales. At least that is my experience, independent of what news seem to say.

 

 

https://sg.news.yahoo.com/is-it-because-my-wife-is-indian-042312582.html

 

guys issit true?? this type of soft market still have landlords ''nitty-picky''?

 

i have a feeling this bugger creating a bruha story to corner the ''discriminated'' crowd...  

 

and considering he was recently in the news... seems he is quite social media savvy yea?

 

 

dont wanna listen to his one sided story.. may i ask if there is anyone who can verify that there are indeed people who discrimante SO MUCH against other races?