Agent's Commision

[vowsh 1]

I have try to talk to my agent, seems like

he's not going to negotiate.

I afraid that if i don't pay him the 2%, he will delay on the buying.

Any advise...

Find another agent.

[hightlighter 0]

Dear All,

It is not difficult to sell your flat. I sold my flat without an agent after advertising it 3x in the newspaper.

Just before 2nd appt, buyer decided to back out of the deal, what do you do?

What actions should a seller take in this instance?

or Purchase ask for extention of completion suddenly, as their own flat suddenly the buyer back out.

or Buyer lose his job before 1st appt, HDB loan was suddenly rejected even though HLE is already out.

What is your advice on the above scenario ?

[HomeMaster 0]

Just before 2nd appt, buyer decided to back out of the deal, what do you do?

Ask the buyer to give u a reason. Then call up the officer who had assisted u in yr first appt (his/her contact is in the 1st appt documents) and ask for his/her advice.

What actions should a seller take in this instance?

You may take legal action against the buyer, but i find it meaningless b'cos it's a waste of energy, time & money. U might as well spend the energy, time & money in selling the house again and move on in life.

or Purchase ask for extention of completion suddenly, as their own flat suddenly the buyer back out.

Who is backing out? Are u referring to the person who is buying your buyer's house? If yes, it should not affect your buyer in buying your house unless he's doing a contra. HDB will give your buyer some time to sell his flat after he purchased your flat.

or Buyer lose his job before 1st appt, HDB loan was suddenly rejected even though HLE is already out.

Not too sure abt this. Most likely a gone case if the buyer can support his reason.

What is your advice on the above scenario ?

Edited June 19, 2009 by HomeMaster

[michael8330 0]

this is not the way to handle the case.

u will lost a lot

[save 1% agency fee and does not know the rights as a seller or buyer]

Edited June 20, 2009 by michael8330

[sugardaddy 0]

think if u cant nego on the comm rate .. can ask agent to forgo the gst portion lor .. at least some savings better than nothing .. every cent counts

[merryman 0]

think if u cant nego on the comm rate .. can ask agent to forgo the gst portion lor .. at least some savings better than nothing .. every cent counts

my agent told me must write report to company to ask for cut/waiver and I don't really want to say more... I won't get back to him again when I want another unit... bad service experience...

[marvin 0]

I paid for my agent (for purchase) a flat rate after nego, because I am a direct buyer, so they do not have to co-broke and share the comm with any agent. The flat rate is about 0.6%

My seller wanted to stay for another month upon completion. I agreed but I gave the agent's comm in 2 installment, half during completion, and the other half will be only when I get the physical keys.

[acesoryze 0]

I have try to talk to my agent, seems like

he's not going to negotiate.

I afraid that if i don't pay him the 2%, he will delay on the buying.

Any advise...

Hi sorry if I'm a little late replying to this post.

I'm buying a 5rm resale flat offered at 365k and i'v negotiated to 360k so i have to pay my agent $3600.

i've negotiated the agent fee to $2500. Put your offer to at least half before working your way up. They won't budge even though they will 'make noise' because any amount is still money to them.

imagine how much they make if they sell 3 houses in a week?

anyway there's plenty of agents out there. you can always say you're willing to let go of the house cos you cannot afford to pay so much for the agent fees.

[Coke 0]

Hi sorry if I'm a little late replying to this post.

I'm buying a 5rm resale flat offered at 365k and i'v negotiated to 360k so i have to pay my agent $3600.

i've negotiated the agent fee to $2500. Put your offer to at least half before working your way up. They won't budge even though they will 'make noise' because any amount is still money to them.

imagine how much they make if they sell 3 houses in a week?

anyway there's plenty of agents out there. you can always say you're willing to let go of the house cos you cannot afford to pay so much for the agent fees.

My sis actually sold her unit via a agent, and managed to nego that she does not have to pay any agent fee for selling, the agent will only collect the comm from the buyer. However, a mutual agreement is that she must buy another property thru that agent, and pay comm for the buying side.

[candijew 0]

Yes, yes, everything nego first. Agreed with my agent to give him 2% for selling my place then if I go thru him to buy another place, he gets 0.6% (he suggested. You might still be able to nego lower). I actually tried looking for place myself after I sold and thot I could save on buyer's agent fee but not possible, all the seller's agents wanted comm of 1%. Also the paperwork will not be easy to do myself since I'm doing a contra so in the end no choice, got to go back to my agent and use him to buy the next place. He agreed on the 0.6% so total 2%+0.6%=2.6% comm (selling and buying) which is close to $8k. That's quite a sum. So we tried to nego on the GST agent comm and initially, when we sold our place thru him, we were not aware of the GST which the agent claimed is company policy, so no choice, have to pay up. But now that we were aware, we told him to waive the GST for this new place that we were buying thru him. He agreed.

I think it eventually boils down to how friendly the agent wants to be and retain a good reputation. Afterall, his reputation hinges on referrals so if he is accomodating within his means, I think he will realise that he will also benefit in the long run.

Since I know he is trustworthy and reliable and willing to give and take, I would use him again the next time or recommend him to others. Also, this agent of mine worked very hard to market my EA, I think half the pple living in SK must have visited my house!