Agents Avoiding Co-broke Deals

[Alvin78 0]

There are also honest agents. I have encountered honest agents too.

I agree. But they are the minority.

[leechaorui 2]

I agree. But they are the minority.

Maybe I am lucky. Most of the agents I encounter seem like honest people to me. Somehow, I think homeowners can be quite bias about housing agents. Many of them work very hard to help home owners and buyers close deals.

[wonderlee 1]

I've encountered this month when we are looking for EM.. Exclusive agents from seller side agreed to co broke. But 2 cases ends up, they sell to direct buyers.. All said can co broke are crap.. they are just waiting for buyers to give up their agent and deal directly with them... how this world has become.

[leechaorui 2]

I've encountered this month when we are looking for EM.. Exclusive agents from seller side agreed to co broke. But 2 cases ends up, they sell to direct buyers.. All said can co broke are crap.. they are just waiting for buyers to give up their agent and deal directly with them... how this world has become.

Some of these things may be true but many lies in the realms of speculation. Some agents refuse to co-broke. I tried to rent a flat through an agent and it was always not successful. When my agent call, the other agent says already co-broke. It is only when I call and say that I am an individual looking for a rental flat that the owner's agent allows viewing.

However, for your case, it may be genuine that the seller's agent really found a direct buyer that pays good price. Well, move on and good luck to your search for your ideal flat.

[Plastic3 0]

In the new framework introduced by the MND:

Agents will not be allowed to represent both the seller and buyer in the same transaction

[silverfins 0]

Some of these things may be true but many lies in the realms of speculation. Some agents refuse to co-broke. I tried to rent a flat through an agent and it was always not successful. When my agent call, the other agent says already co-broke. It is only when I call and say that I am an individual looking for a rental flat that the owner's agent allows viewing.

However, for your case, it may be genuine that the seller's agent really found a direct buyer that pays good price. Well, move on and good luck to your search for your ideal flat.

I so agree with you! Some agents are really annoying, refusing to co-broke for whatever reason. At the end of the day, it's the landlords and owners who lose out the most.

[leechaorui 2]

I so agree with you! Some agents are really annoying, refusing to co-broke for whatever reason. At the end of the day, it's the landlords and owners who lose out the most.

Agree with you that it is not ethical for agents to refuse co-broking. They are doing a dis-service to the client that they represent.

[d007 0]

You are absolutely right and spot on! Everything is centered around the commission matters only. Nothing else matter to agents. They can shout that they need to do a lot of paperwork, calling and need to eat too but all these are crap to consumers. In the end, most don't deliver. Once they got your signature on the dotted lines, it will be worse. Less communication and promises not delivered. I can't help to say this but is there a governing body for singapore real estate at all? Is the govt ever going to look at the things on time and not react too slow and too much in the end?

Hi Alvin, Please do not judge all agents as the same.

I am a Realtor, till now i never did any HDB sales or rental, as i feel there are too many to lose rather than gain.

I agree on your part that there are errant agents around.

Commissions are the essential to agents as we survive our daily income on that, like other trades too salary based or commission based. I guess we need to have that respect.

I strongly support the government in enforcing the CEA to make sure all errant agents out of business. There are honest agents around, those who happily willing to serve you to their level best. For me every assignments and clients, i met , they left me a happy smile and they do inform their close relatives and friends. I am thankful that there are kind souls who do have faith in me.

Lastly i would like to thank you for your frank opinions. Please do share more if you have i am a learner for life!

Cheers

Hanafi

[htng 1]

Hi Alvin, Please do not judge all agents as the same.

I am a Realtor, till now i never did any HDB sales or rental, as i feel there are too many to lose rather than gain.

I agree on your part that there are errant agents around.

Commissions are the essential to agents as we survive our daily income on that, like other trades too salary based or commission based. I guess we need to have that respect.

I strongly support the government in enforcing the CEA to make sure all errant agents out of business. There are honest agents around, those who happily willing to serve you to their level best. For me every assignments and clients, i met , they left me a happy smile and they do inform their close relatives and friends. I am thankful that there are kind souls who do have faith in me.

Lastly i would like to thank you for your frank opinions. Please do share more if you have i am a learner for life!

Cheers

Hanafi

Totally agree...Like ID n contractors, there are lousy ones and great ones. Dont renovate our own house because we met lousy ID or contractors...Source for a good one lor...

[delirious_jeff 0]

You are absolutely right and spot on! Everything is centered around the commission matters only. Nothing else matter to agents. They can shout that they need to do a lot of paperwork, calling and need to eat too but all these are crap to consumers. In the end, most don't deliver. Once they got your signature on the dotted lines, it will be worse. Less communication and promises not delivered. I can't help to say this but is there a governing body for singapore real estate at all? Is the govt ever going to look at the things on time and not react too slow and too much in the end?

Guess some things never change.

Do the agents now still do those "secret" COV stuff between sellers and buyers now?

[bepgof 20]

Guess some things never change.

Do the agents now still do those "secret" COV stuff between sellers and buyers now?

Earth revolves every second, things change every minutes, but this "COV game" will never change as long as there are 2 agents representing 2 oppositions' interest. Selling agent is always at upper hand who makes the shoot. Buying agent can't do anything beside watching and join the "fun".

So, to all buyers(hdb resale), do your own sourcing & bagaining. Engaging agent in sourcing & bargaining will "provoke" selling agent in first sight, then the "hide & seek" game starts.

Edited August 18, 2010 by bepgof

[Warrior88 0]

Legislation is introduced in Parliament in the second half of the year

1. Agents register through their firms to statutory board called Council for Estate Agencies.

2. Pass a mandatory industry exam and undertake continuing professional development of six hours a year. Agents will also need to have four GCE 'O' levels.

3. Outlaw an agent representing both buyer and seller in a transaction.

[delirious_jeff 0]

Think an agent representing the seller can ask his/her partner agent to represent for the prospective buyer and get the partner agent to share the buyer's commission.

The more effective way, I think, would be eliminate the need for the buyer to pay commission. Only seller shall pay for the commission similar to how it is practise in private property transactions.

[bepgof 20]

The more effective way, I think, would be eliminate the need for the buyer to pay commission. Only seller shall pay for the commission similar to how it is practise in private property transactions.

Greatman thinks alike.!Haha

Edited August 19, 2010 by bepgof

[koxxic 2]

this is singapore; what can we expect.

i still remember when i was looking for a resale at my area; there was this agent who stay below my MIL and happen to know each other. Upon knowing I was looking for a flat; he immediately set up appointment for me to view a 5 room unit; just opposite his own house.

he did everything without knowing my requirements; in hope that I will buy from him just because he know my MIL.

so out of goodwill, I went to view the unit (renovated with a lot of shi*, made a 5 room look like 3 room flat).

during the view; he praise the unit; the FS, the reno etc etc and immediately ask me to issue him the cheque for deposit.

valuation of the flat then = $290K, owner asking COV $30k

i told him i will consider and revert. i started doing research and homework and realised the 5 room at my area wasn't in demand then, a lot of units were going at valuation or below valuation or maybe ard $10K COV (if nicely done up).

one night he called me again; asking me to go view and discuss on the unit again; I told him, i will need to reno the whole place etc and will only pay $5K COV, straight after that he didn't contact me again.

many months later (after i got my flat); when I bump into him at the lift landing; he didn't even greet or say hello - that's how realistic agents are.