Buying Resale Flat..

[quoo 0]

hi folks..if i am interested in a unit that i see from the newspaper advertisement advertise by sole agent, do i need to get my agent to help me negotiate the price or i can do it as a buyer? what are the commission rates in this case? Edited September 28, 2009 by quoo

[chronograph 0]

hi folks..if i am interested in a unit that i see from the newspaper advertisement advertise by sole agent, do i need to get my agent to help me negotiate the price or i can do it as a buyer? what are the commission rates in this case?

If u have a agent, get your agent to represent you. Otherwise, the sole agent of the seller will want to represent you as well, so the sole agent get full coms from bother buyer and seller.

[coldflamez 0]

hi folks..if i am interested in a unit that i see from the newspaper advertisement advertise by sole agent, do i need to get my agent to help me negotiate the price or i can do it as a buyer? what are the commission rates in this case?

You can negotiate with the seller's agent yourself if you wish to.

Beware that some agent will try to mislead you that you need an agent but that is not true. It is up to you whether you want to engage an agent to help with the negotiation and the administrative process. Also note that if you choose to engage an agent, the commission that you pay him is negotiatable. You can choose to pay him 0.5% on the ground that you have found the flat on your own. Don't believe agents who tell you that it is a rule to pay 1% commission.

There are many dishonest agents out there who would want to cheat buyers by saying that it is a rule.

Hope this helps.

[quoo 0]

If u have a agent, get your agent to represent you. Otherwise, the sole agent of the seller will want to represent you as well, so the sole agent get full coms from bother buyer and seller.

I think the seller's agent will help me, cos when i bargain for lower cash he rejected immediately and say no point to talk if we cannot afford Cov...so difficult to find a ideal hse with low cov

why are agent so like that..money sucker ? anyone has similar experience ? why isn't government stepping in to discipline these agents?

Edited September 28, 2009 by quoo

[chronograph 0]

I think the seller's agent will help me, cos when i bargain for lower cash he rejected immediately and say no point to talk if we cannot afford Cov...so difficult to find a ideal hse with low cov

why are agent so like that..money sucker ? anyone has similar experience ? why isn't government stepping in to discipline these agents?

The seller set the COV not the agent. However, agents are to advise their client whether their asking COV are realistic based on market condition. I think most agents are more than willing to lower COV to close the deal so that they can get their coms. But it is not up to them to decide, the seller has the final say.

At the moment, COV is on the rise so be prepared to pay. Otherwise wait.

[quoo 0]

The seller set the COV not the agent. However, agents are to advise their client whether their asking COV are realistic based on market condition. I think most agents are more than willing to lower COV to close the deal so that they can get their coms. But it is not up to them to decide, the seller has the final say.

At the moment, COV is on the rise so be prepared to pay. Otherwise wait.

I just find that the agent's attitude is not right, how can he say such things like if u not willing to offer $xx amt to match blah blah....he can say "owner still hope to get $xx Cov, since he just advertise..unless he willing to lower cov, then i will contact u again" dosent it sound better ?

[JustMortgage 0]

I just find that the agent's attitude is not right, how can he say such things like if u not willing to offer $xx amt to match blah blah....he can say "owner still hope to get $xx Cov, since he just advertise..unless he willing to lower cov, then i will contact u again" dosent it sound better ?

It really depends on the agent. But to add on, agents want to earn more, hence they don't want other agents to represent the buyer.

IMHO. I believe that agents are there to facilitate and assist in marketing your property. Which includes advertising etc and also co-broking. So i don't know why agents should want exclusively represently all unless for the reason of trying to make more money.

Normally agents would wanna work with each other. otherwise how to get buyers/sellers?

It's a crazy world. you can look at one property to see it being marketed by more than 1 agent and alot of online listings typically aren't a genuine reflection of the selling price. Often it's a much higher price quoted.

[quoo 0]

It really depends on the agent. But to add on, agents want to earn more, hence they don't want other agents to represent the buyer.

IMHO. I believe that agents are there to facilitate and assist in marketing your property. Which includes advertising etc and also co-broking. So i don't know why agents should want exclusively represently all unless for the reason of trying to make more money.

Normally agents would wanna work with each other. otherwise how to get buyers/sellers?

It's a crazy world. you can look at one property to see it being marketed by more than 1 agent and alot of online listings typically aren't a genuine reflection of the selling price. Often it's a much higher price quoted.

ya, it a crazy crazy world ~

[therat 18]

some time I don't even know what is the purpose of advertising.

Saw an adv, SMS on the same day. Agent reply "SOLD"

Then few day later, same agent advertise again. Same block same picture. SMS again. Same reply "SOLD"

Then few day later, same agent advertise again.

I don't bother to SMS him anymore.

Basically, I just ignore all his advertisement as he is wasting my SMS and time.

So.. is buyer wasting agent time or agent wasting buyer time

[mk2000 0]

some time I don't even know what is the purpose of advertising.

Saw an adv, SMS on the same day. Agent reply "SOLD"

Then few day later, same agent advertise again. Same block same picture. SMS again. Same reply "SOLD"

Then few day later, same agent advertise again.

I don't bother to SMS him anymore.

Basically, I just ignore all his advertisement as he is wasting my SMS and time.

So.. is buyer wasting agent time or agent wasting buyer time

i too encountere this.

btw, did he persuade to consider other units which he is trying to sell??

[therat 18]

i too encountere this.

btw, did he persuade to consider other units which he is trying to sell??

not at all.

His reply clean and short

SOLD

if he told me .. has other unit available.

I still can understand why he keep on advertise. But no. I basically don't understand the logic behind.

[zirhk3355 1]

I just find that the agent's attitude is not right, how can he say such things like if u not willing to offer $xx amt to match blah blah....he can say "owner still hope to get $xx Cov, since he just advertise..unless he willing to lower cov, then i will contact u again" dosent it sound better ?

The first round is to fish for people who willing to pay the COV; if you already said you cannot afford, then why talk? Also maybe there are others who offer higher COV than you, but obviously not up to the owner's requirements yet, so if the owner is willing to lower COV, they will be first in line, so why need to contact you again?

Anyway the agent is taking commission from the seller, not you. He does not need to 'sound better' when talking to you. Sorry abit harsh but this is reality in the agents' world.

[zirhk3355 1]

not at all.

His reply clean and short

SOLD

if he told me .. has other unit available.

I still can understand why he keep on advertise. But no. I basically don't understand the logic behind.

He is just waiting for the magical question from you: "Do you have any other units then?"

Its very common for agents to advertise using a more popular block to sell his own; eg Blk 230 is the popular block, but the agent is trying to sell Blk 231. So instead of advertising for Blk 231 where there will be fewer callers, he will advertise for Blk 230 to get more calls and try to swing the callers to Blk 231.

Another trade secret revealed...hehe... ;P

[quoo 0]

He is just waiting for the magical question from you: "Do you have any other units then?"

Its very common for agents to advertise using a more popular block to sell his own; eg Blk 230 is the popular block, but the agent is trying to sell Blk 231. So instead of advertising for Blk 231 where there will be fewer callers, he will advertise for Blk 230 to get more calls and try to swing the callers to Blk 231.

Another trade secret revealed...hehe... ;P

cunning..rather go for new flat then resale...i think buying an ideal resale is more difficult then strike toto !

[therat 18]

He is just waiting for the magical question from you: "Do you have any other units then?"

Its very common for agents to advertise using a more popular block to sell his own; eg Blk 230 is the popular block, but the agent is trying to sell Blk 231. So instead of advertising for Blk 231 where there will be fewer callers, he will advertise for Blk 230 to get more calls and try to swing the callers to Blk 231.

Another trade secret revealed...hehe... ;P

waiting for me to give the magical question?

Why don't he pop out the magical question himself.

Don't it will be faster?