Independent Buyer 1% Commission To Seller Agent

[chronograph 0]

Mr Plastic, I can say they are quite sneaky, taking advantage of me 1st timer, lack of knowledge in buyin property, but I blame myself for not being careful, but a good agent will definitely highlight right.. mine dont even say it.. how to start bargaining? any advise Mr Agent ?

Alamak brother, be it first timer or 2nd or many more, be it buying property buy other things........

DON'T you READ before signing anything?

Take it as a lesson learnt lah, bite the bullet and move on. At least you bought a home you love.

[tnqhome 0]

Thanks all

Saw the COmm agreement I've signed. honestly its actually misleading, coz I really tot its part of OTP, now that its proven that I've signed no other way out.

but they advised me, to write in to the company legal dept. On their part they cannot do anything.

bepgof, Im planning to write in nicely under ur no 2a, but ask to waive some fees..haiyah got chance or not. I cant afford to pay legal fees lah ..money not enuff.. and not has daring as u

they highlight to me again, its like u enter a shop, u like something u bargain with the seller, not the seller ask you want discount or not. but to us this is service!! that we dont see .. haiyah no matter what i say also wont make any sense liao.. they have the black and white. which totally shuts my plan out..

Mr Plastic, I can say they are quite sneaky, taking advantage of me 1st timer, lack of knowledge in buyin property, but I blame myself for not being careful, but a good agent will definitely highlight right.. mine dont even say it.. how to start bargaining? any advise Mr Agent ?

You are so careless... think you may proceed to CASE for help....

[tnqhome 0]

I can't commend whether they intended to "cheat" you, I know some Agents assume all buyers know about the 1% fee standard so some may forget to tell you, personally I always tell my clients before any negotiations/paperwork...

Since they have black and white, it is very hard to "bargain" with them...the only acceptable reason is that the person signing the contract does not understand english....other than that i'm sorry to say it is really up to the Agent/Agency whether to lower the commission for you..

Do you think that agent who represent both seller n buyer will fight for the best for both parties?? No conflict at all???

Will you still proceed the transaction if the independent buyer not agree to pay you the 1% comm even the buyer offer the best price for the unit... ??

Edited March 16, 2010 by tnqhome

[aida81 0]

Thats what I tot, but I 'll just try my luck lah, if they give good can still recommend ppl to their company, if not I shall just spread news abt these, yah just to warn first timers like me, and the careless mistake I made

Haha Terence, thanks for sharing, teaks r quite heavy rite??...poor guys good exercise !!

[aida81 0]

I can't comment whether they intended to "cheat" you, I know some Agents assume all buyers know about the 1% fee standard so some may forget to tell you, personally I always tell my clients before any negotiations/paperwork...

Since they have black and white, it is very hard to "bargain" with them...the only acceptable reason is that the person signing the contract does not understand english....other than that i'm sorry to say it is really up to the Agent/Agency whether to lower the commission for you..

well what to do.. just hope they will

[aida81 0]

Alamak brother, be it first timer or 2nd or many more, be it buying property buy other things........

DON'T you READ before signing anything?

Take it as a lesson learnt lah, bite the bullet and move on. At least you bought a home you love.

Well a very good lesson learnt lah.. becoz all this while I spend so many days searching for a unit, but not doing any research on agents sneaky tactics.. which I regret so much,, sighzz hello brother its sister lah.. yah at least I paid 2K for COV only muahahah so not that heartpainlah, win some lost some...

[Plastic3 0]

Do you think that agent who represent both seller n buyer will fight for the best for both parties?? No conflict at all???

NO, there is obvious conflict of interest, which is why I always encourage buyers to engage their own Agent.

Will you still proceed the transaction if the independent buyer not agree to pay you the 1% comm even the buyer offer the best price for the unit... ??

YES, I guess now a lot of buyers will look for me to find home and won't want to pay me anything

Edited March 16, 2010 by Plastic3

[aida81 0]

You are so careless... think you may proceed to CASE for help....

Yah think of writting to them first.. , hmmm go case must pay or not.. sorry stupid question, coz I never done before lah

[Plastic3 0]

Well a very good lesson learnt lah.. becoz all this while I spend so many days searching for a unit, but not doing any research on agents sneaky tactics.. which I regret so much,, sighzz hello brother its sister lah.. yah at least I paid 2K for COV only muahahah so not that heartpainlah, win some lost some...

Woah! 2k COV at the current market is unbelievable, congrats!

[aida81 0]

No, there is obvious conflict of interest, which is why I always encourage buyers to engage their own Agent.

Yes, I guess now a lot of buyers will look for me to find home and won't want to pay me anything

Mr Plastic, how much u charge for my case.... Oh come on be open can??

Edited March 16, 2010 by aida81

[aida81 0]

Woah! 2k COV at the current market is unbelievable, congrats!

Thank u, so when the agency view my case, COV so low already no chance of it to be waived right lol

Edited March 16, 2010 by aida81

[Plastic3 0]

Mr Plastic, how much u charge for my case.... Oh come one be open can??

Hi,

I'm sorry, I typically do not reveal my fees until I meet my clients face to face...

(There is 1 forumer who has engaged me to market her property, she asked for my commission rate over the phone I also did not tell her until I met her)

To Agents...Real Estate is their own business, each Agent have their own way of doing things...each Agent also have their own beliefs on how much they should command, I encourage clients not to compare purely based on commission rate.

There are Agents who can get 3% from their clients, because they provide quality service.

I have also received more than what I had requested because client was happy with my service, but of course this is very rare as most client wouldn't give more even if they openly acknowledge that you did a good job......

Edited March 16, 2010 by Plastic3

[Plastic3 0]

Thank u, so when the agency view my case, COV so low already no chance of it to be waived right lol

erm......You have a point there! hahahaha

[tnqhome 0]

Yah think of writting to them first.. , hmmm go case must pay or not.. sorry stupid question, coz I never done before lah

I think need to pay 1....

[bepgof 20]

Hi,

I'm sorry, I typically do not reveal my fees until I meet my clients face to face...

(There is 1 forumer who has engaged me to market her property, she asked for my commission rate over the phone I also did not tell her until I met her)

To Agents...Real Estate is their own business, each Agent have their own way of doing things...each Agent also have their own beliefs on how much they should command, I encourage clients not to compare purely based on commission rate.

There are Agents who can get 3% from their clients, because they provide quality service.

I have also received more than what I had requested because client was happy with my service, but of course this is very rare as some client wouldn't give more even if they openly acknowledge that you did a good job......

Hi Plastic, just for forumers here to understand your "beliefs" better, let me name here some attributes ,which I think a real agent should possess. Try arrange them, according to degree of importance, top-down, according to your "beliefs":

1. Sincererity - Serve all, whether got comm or no comm, poor or rich

2. Transparency - No hidden agenda but doesn't mean everything must tell

3. Honesty - Openly tell clients what he should know even not in his favor

4. Job-related knowledge - legislation, industry happening, Statistic, loan, standing by many forms/doc, etc

5. Book keeping - don't call client's name wrongly

6. Communication skills - can express clearly and listners understand and convinced.

7. Willingness to walk extra mile - arrange SP service, mid-night answer call

8. Money making - Money alway in consideration.

9. Committment - what really drive u to become an real estate agent,

10. Service specialization - Know certain geographical areas particularly well

11. Networking contact - join any "special interest group", mega church, association, etc

12. Backup - anyone can stand in for u when u are not available

13. Pleasant looking/groom - Clients, at first sight, have confidence/trust on u.

14. Quick witted - react fast & accurate in unexpected situation.

any others?

Edited March 16, 2010 by bepgof