13177 Supersonic December 5, 2022 Share December 5, 2022 7 minutes ago, Stratovarius said: Can. But why you need an agent to buy? The seller agent will take care of everything. I got an agent to help me sell my house. The buyer of my house do not have an agent. Same as when i bought my current house, i contact the seller's agent directly, no agent for buying. If both seller and buyer have agent, they need to agree to share the commission. HBS sales is very straight forward, you can DIY. i know my friend and someone here sold on their own. Many people say when buy resale HDB no need agent, can DIY. Cause sometimes the seller agent even would advise and help the buyer on the sales procedure. But dont know if no engage agent to buy, will i ended up with some disadvantage as a direct buyer? Cause hearsay some seller agent dont really like to entertain direct buyer, and might not want to nego on the selling price, and also i might missed out on some house posting as agent has more connection? ↡ Advertisement 1 Link to post Share on other sites More sharing options...
13177 Supersonic December 5, 2022 Share December 5, 2022 20 minutes ago, inlinesix said: Seller agent don't represent your interest. If buy without agent, be extra careful. As we don't buy and sell house regularly, did we miss out anything in the process? With an agent, you don't have to deal with lowballers. Thats why some buyers are lucky to meet some seller agent to help them in the process, as some seller agent also wants to close deal, so they might not mind to help if the price the buyer offered is right. 1 Link to post Share on other sites More sharing options...
Stratovarius Turbocharged December 5, 2022 Share December 5, 2022 1 hour ago, 13177 said: Many people say when buy resale HDB no need agent, can DIY. Cause sometimes the seller agent even would advise and help the buyer on the sales procedure. But dont know if no engage agent to buy, will i ended up with some disadvantage as a direct buyer? Cause hearsay some seller agent dont really like to entertain direct buyer, and might not want to nego on the selling price, and also i might missed out on some house posting as agent has more connection? What disadvantage are you referring to? Price? Yes, seller's agent would want to maximize the sale price for their client and their commission. If you want to nego, it's the same to me if you were to do it your own or get agent to do. an agent might not do a better job. Just my 2c. I will say direct buyer is better for the seller agent because there is no split in commission. If price agreed, the seller's agent will be more than happy to help you and the seller to settle the documents as he or she does not need to share the commission. When i told my agent that i want to buy resale flat, he is not as committed as selling my flat. Thus i went to PG look for my own. Saw one, contact the seller's agent and she settled for me. I must say she is quite good as she did quite a few things to ensure the agreement goes through. But that is for resale EC. HDB on the other hand is more straight forward. The only time i think you need an agent when buying is when you are buying as investment. that is when they can help to identify which area has more potential for higher yield. 3 Link to post Share on other sites More sharing options...
13177 Supersonic December 5, 2022 Share December 5, 2022 22 minutes ago, Stratovarius said: What disadvantage are you referring to? Price? Yes, seller's agent would want to maximize the sale price for their client and their commission. If you want to nego, it's the same to me if you were to do it your own or get agent to do. an agent might not do a better job. Just my 2c. I will say direct buyer is better for the seller agent because there is no split in commission. If price agreed, the seller's agent will be more than happy to help you and the seller to settle the documents as he or she does not need to share the commission. When i told my agent that i want to buy resale flat, he is not as committed as selling my flat. Thus i went to PG look for my own. Saw one, contact the seller's agent and she settled for me. I must say she is quite good as she did quite a few things to ensure the agreement goes through. But that is for resale EC. HDB on the other hand is more straight forward. The only time i think you need an agent when buying is when you are buying as investment. that is when they can help to identify which area has more potential for higher yield. I didnt know if buyer and seller have agent, the agents need to spilt comission. I always thought buyer would pay commission to his/her own agent, and seller would pay commission to his/her own agent. So it means if i bought the house and need to pay $5k to my agent, my agent would not get $5k but need to spilt the amount with the seller agent? Disadvantage as i have mentioned like might missed out some potential resale as some seller might not post on the property portal etc. Or seller agent might not want to liase with direct buyer, since they do not know if the buyer familiar with the sales document procedure and they do not want to help the buyer since the agent is not getting any extra commission from the buyer. 2 Link to post Share on other sites More sharing options...
Volvobrick Supersonic December 5, 2022 Share December 5, 2022 (edited) 47 minutes ago, 13177 said: I didnt know if buyer and seller have agent, the agents need to spilt comission. I always thought buyer would pay commission to his/her own agent, and seller would pay commission to his/her own agent. So it means if i bought the house and need to pay $5k to my agent, my agent would not get $5k but need to spilt the amount with the seller agent? Disadvantage as i have mentioned like might missed out some potential resale as some seller might not post on the property portal etc. Or seller agent might not want to liase with direct buyer, since they do not know if the buyer familiar with the sales document procedure and they do not want to help the buyer since the agent is not getting any extra commission from the buyer. The buyer's conveyancing lawyers will tell the buyer exactly what to do other then the initial option to purchase form. Unless the buyer is too busy/lazy to hunt for the ideal unit, I don't see the need for a buyer agent. PS if I ever sell my property I will likely sell it myself and save the 2%. Edited December 5, 2022 by Volvobrick 2 Link to post Share on other sites More sharing options...
Stratovarius Turbocharged December 5, 2022 Share December 5, 2022 1 hour ago, 13177 said: I didnt know if buyer and seller have agent, the agents need to spilt comission. I always thought buyer would pay commission to his/her own agent, and seller would pay commission to his/her own agent. So it means if i bought the house and need to pay $5k to my agent, my agent would not get $5k but need to spilt the amount with the seller agent? Disadvantage as i have mentioned like might missed out some potential resale as some seller might not post on the property portal etc. Or seller agent might not want to liase with direct buyer, since they do not know if the buyer familiar with the sales document procedure and they do not want to help the buyer since the agent is not getting any extra commission from the buyer. Yeah. Commission is only through sale of flat. There is no commission for buying. So buyer agent need to nego with seller agent on their share. Only pro for getting agent for sale is advertisement. If im not wrong, only property agent can put up ads in property guru. i think owners can only post in 99.co. If not will be the ever famous carousell. 1 Link to post Share on other sites More sharing options...
Volvobrick Supersonic December 5, 2022 Share December 5, 2022 (edited) 17 minutes ago, Stratovarius said: If im not wrong, only property agent can put up ads in property guru. This is anti competition/monopoly..... Maybe set up Property Goondu for direct sellers! Edited December 5, 2022 by Volvobrick 1 2 Link to post Share on other sites More sharing options...
13177 Supersonic December 5, 2022 Share December 5, 2022 2 hours ago, Volvobrick said: The buyer's conveyancing lawyers will tell the buyer exactly what to do other then the initial option to purchase form. Unless the buyer is too busy/lazy to hunt for the ideal unit, I don't see the need for a buyer agent. PS if I ever sell my property I will likely sell it myself and save the 2%. Selling if DIY, you phone will be bombard by all the enquiries from people. And you also must know how to deal with them. Saving 2% indeed a lot esp if you sell youe property high price. Buyer's conveyancing lawyers? If i get HDB loan, dont think i will have lawyer right? 1 Link to post Share on other sites More sharing options...
13177 Supersonic December 5, 2022 Share December 5, 2022 1 hour ago, Stratovarius said: Yeah. Commission is only through sale of flat. There is no commission for buying. So buyer agent need to nego with seller agent on their share. Only pro for getting agent for sale is advertisement. If im not wrong, only property agent can put up ads in property guru. i think owners can only post in 99.co. If not will be the ever famous carousell. Correct, those property guru portal, only registered property agent can put up ads. Paiseh, you said commission is only through sale of flat. There is no commission for buying. Then why buyer needs to pay 1% commission if engage agent to find house and do documents for them le? If i bought a $450k flat, i need to pay $4,500 or some $4,815 to agent le. 1 Link to post Share on other sites More sharing options...
Starry Supercharged December 5, 2022 Share December 5, 2022 (edited) 4 hours ago, Stratovarius said: What disadvantage are you referring to? Price? Yes, seller's agent would want to maximize the sale price for their client and their commission. If you want to nego, it's the same to me if you were to do it your own or get agent to do. an agent might not do a better job. Just my 2c. I will say direct buyer is better for the seller agent because there is no split in commission. If price agreed, the seller's agent will be more than happy to help you and the seller to settle the documents as he or she does not need to share the commission. When i told my agent that i want to buy resale flat, he is not as committed as selling my flat. Thus i went to PG look for my own. Saw one, contact the seller's agent and she settled for me. I must say she is quite good as she did quite a few things to ensure the agreement goes through. But that is for resale EC. HDB on the other hand is more straight forward. The only time i think you need an agent when buying is when you are buying as investment. that is when they can help to identify which area has more potential for higher yield. Bro....only condos/landed they will split comm. For HDB, buyer pays his agent and seller pays his agent. The above are the usual practice, but it is always up to the agents to negotiate comm with their clients. Edited December 5, 2022 by Starry 3 Link to post Share on other sites More sharing options...
Volvobrick Supersonic December 5, 2022 Share December 5, 2022 9 minutes ago, 13177 said: Selling if DIY, you phone will be bombard by all the enquiries from people. And you also must know how to deal with them. Saving 2% indeed a lot esp if you sell youe property high price. Buyer's conveyancing lawyers? If i get HDB loan, dont think i will have lawyer right? Even when I sold my cars I get a prepaid sim card for that few days entertaining potential buyers. My guess property enquires would be less than car enquiries. ( I have not sold any property before.) 1 1 Link to post Share on other sites More sharing options...
Starry Supercharged December 5, 2022 Share December 5, 2022 (edited) 5 hours ago, 13177 said: Many people say when buy resale HDB no need agent, can DIY. Cause sometimes the seller agent even would advise and help the buyer on the sales procedure. But dont know if no engage agent to buy, will i ended up with some disadvantage as a direct buyer? Cause hearsay some seller agent dont really like to entertain direct buyer, and might not want to nego on the selling price, and also i might missed out on some house posting as agent has more connection? For HDB, buyer with agent is better unless the buyer is very savvy with all the policies. Because the buyer agent would have done all the due diligence needed for the buyer, for eg get the HLE approved first, the intent to buy is done, ensure buyer eligibility is right, etc. If the buyer is doing contra (he sold and then buy another at the same time) , then 3 parties are involved, then the buyer better have an agent to coordinate all parties since timing is critical and the other 2 parties cannot be doing contra at the same time. Edited December 5, 2022 by Starry 3 Link to post Share on other sites More sharing options...
13177 Supersonic December 5, 2022 Share December 5, 2022 19 minutes ago, Starry said: For HDB, buyer with agent is better unless the buyer is very savvy with all the policies. Because the buyer agent would have done all the due diligence needed for the buyer, for eg get the HLE approved first, the intent to buy is done, ensure buyer eligibility is right, etc. If the buyer is doing contra (he sold and then buy another at the same time) , then 3 parties are involved, then the buyer better have an agent to coordinate all parties since timing is critical and the other 2 parties cannot be doing contra at the same time. The buyer doing contra thing, i dont really understand why the timing is critical etc. I only know that buyer and seller cannot do contra at the same time. So if seller is also doing contra, buyer cannot buy this unit. Buyer doing contra can only buy from seller who is pure selling, if my understanding is correct. 1 Link to post Share on other sites More sharing options...
Stratovarius Turbocharged December 5, 2022 Share December 5, 2022 49 minutes ago, 13177 said: Correct, those property guru portal, only registered property agent can put up ads. Paiseh, you said commission is only through sale of flat. There is no commission for buying. Then why buyer needs to pay 1% commission if engage agent to find house and do documents for them le? If i bought a $450k flat, i need to pay $4,500 or some $4,815 to agent le. 45 minutes ago, Starry said: Bro....only condos/landed they will split comm. For HDB, buyer pays his agent and seller pays his agent. The above are the usual practice, but it is always up to the agents to negotiate comm with their clients. Oh. i din know that. Coz the buyer of my flat no agent also. So my agent told them to prepare the documents he need. Rest of the documents he prepare and give us and the seller to sign and arrange for appt with HDB to hand over keys. He did take 2% of the sale price though. All through my profit. I've asked him and he said if the buyer has agent, he needs to share the commission with them. For my EC, i did not pay any commission to the seller agent. So i assume what he mentioned to me is true. 2 Link to post Share on other sites More sharing options...
Stratovarius Turbocharged December 5, 2022 Share December 5, 2022 1 hour ago, 13177 said: Selling if DIY, you phone will be bombard by all the enquiries from people. And you also must know how to deal with them. Saving 2% indeed a lot esp if you sell youe property high price. Buyer's conveyancing lawyers? If i get HDB loan, dont think i will have lawyer right? HDB have their own lawyers so you no need to deal with the law firm directly. It will be through HDB. 2 Link to post Share on other sites More sharing options...
Starry Supercharged December 5, 2022 Share December 5, 2022 8 minutes ago, 13177 said: The buyer doing contra thing, i dont really understand why the timing is critical etc. I only know that buyer and seller cannot do contra at the same time. So if seller is also doing contra, buyer cannot buy this unit. Buyer doing contra can only buy from seller who is pure selling, if my understanding is correct. Cos all the 3 parties need to submit in the resale application at around the same time. The contra party also need time to find another house right but the 1st buyer (who bought the contra party house) also cannot be waiting for too long mah. So some timing coordination is needed here. 2 Link to post Share on other sites More sharing options...
Starry Supercharged December 5, 2022 Share December 5, 2022 (edited) 13 minutes ago, Stratovarius said: Oh. i din know that. Coz the buyer of my flat no agent also. So my agent told them to prepare the documents he need. Rest of the documents he prepare and give us and the seller to sign and arrange for appt with HDB to hand over keys. He did take 2% of the sale price though. All through my profit. I've asked him and he said if the buyer has agent, he needs to share the commission with them. For my EC, i did not pay any commission to the seller agent. So i assume what he mentioned to me is true. Bro check this, scroll to the selling/buying section for the usual comm practices for resale condo/landed/hdb https://www.99.co/singapore/insider/commission-property-agents/ Edited December 5, 2022 by Starry 2 Link to post Share on other sites More sharing options...
Mercs Hypersonic December 5, 2022 Author Share December 5, 2022 https://www.asiaone.com/lifestyle/greed-cost-me-over-165k-6-common-regrets-homeowners-who-sold-their-homes-20212022 Greed 'cost me over $165k': 6 common regrets of homeowners who sold their homes in 2021/2022 https://www.scmp.com/week-asia/politics/article/3201832/taiwans-rich-eye-singapore-insurance-policy-amid-fears-china-attack Taiwan’s rich eye a Singapore ‘insurance policy’ amid fears of China attack https://www.businesstimes.com.sg/opinion-features/ageing-population-not-problem-private-homes-market An ageing population is not a problem for the private homes market https://www.businesstimes.com.sg/property/sale-marina-south-state-land-site-790-units-could-see-bids-around-s1b Sale of Marina South state land site for 790 units could see bids around S$1b https://www.straitstimes.com/singapore/housing/deciding-on-prime-location-bto-flats-what-one-year-of-such-launches-shows Stricter criteria for prime location BTO flats deters some speculative buyers https://www.straitstimes.com/business/property/first-marina-south-site-launched-under-govt-land-sales-programme First Marina South site launched under govt land sales programme https://www.straitstimes.com/business/property/plum-marina-south-site-may-attract-bids-of-over-1-billion Plum Marina South site may attract bids of over $1 billion https://www.edgeprop.sg/property-news/gls-site-marina-gardens-lane-launched-tender GLS site at Marina Gardens Lane launched for tender https://www.edgeprop.sg/property-news/charming-garden-collective-sale-175-mil Charming Garden up for collective sale at $175 mil https://www.asiaone.com/money/im-45-and-making-10000-month-should-i-sell-my-condo-buy-hdb-or-get-new-launch-instead I'm 45 and making $10,000 a month. Should I sell my condo to buy a HDB, or get a new launch instead? https://www.asiaone.com/money/freehold-landed-homes-under-3-million-touring-tai-keng-estate-largest-hdb-town-singapore Freehold landed homes under $3 million? Touring Tai Keng estate, the largest HDB town in Singapore https://stackedhomes.com/editorial/6-things-foreign-investors-are-seldom-told-about-the-singapore-property-market/ ↡ Advertisement 7 Link to post Share on other sites More sharing options...
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