bepgof 20 Report post Posted July 10, 2012 Ideally, market forces are determined by demand (buyers) and supply (sellers). Prices achieve equilibrium when both meets. However due to misinformation in the market, the role of agents are brought in to resolve the misinformation.But the irony is, the system that is created for agents to exist, does the exact opposite, that is to create even more misinformation.1) Agents get their commissions based on a %. This pushes them to advise their clients to sell high or buy high. 2) Agents get earn their living by closing deals, no matter in good or bad conscience. Industry only regulate them not to represent buyer and seller at the same time. To earn their living, will agents admit to buyers the price will be dropping and don't buy now? Neither will agents advise the seller not to sell now as the prices will go up further. They just want to close the deal! This simply becomes a vicious cycle the market misinformation becomes more severe.Market fair price will never be achieved.As the market gets more educated and information becomes more available, misinformation reduces and I wonder if agents in 10years time will just end up doing only paperwork for their clients for a flat fee.Agents who are allowed to advise clients should be from independent sources and not agents depending on it for a living.The property tax and stamp duties collected by govt should fund this independent sources. Set up a central agency to determine the fair market price (I assume HDB valuation is doing this now and assume they are indeed fair and free from political interference)Agents should be paid by this central agency based on how close to the valuation price they close their deals. not higher or lower. This will encourage agents to spread the true information.Sorry if I sound anti-agents..but surely these are not directed at agents, but rather the system.Try understand whats are:efficient mktweak mktstrong mktsemi-strong mktsemi-weak mktWill make u feel better.Where are we now? Share this post Link to post Share on other sites
realconsultant 0 Report post Posted July 10, 2012 Agents' basic roles are to kick and keep, to make milk and honey. Agents who can't kick and keep, make no milk & honey.Seller & buyer are the cows and bees.Simple right? It doesn't mean easy, remember this.Possible maybe if you apply to be CEA boss and change all the rule. Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 10, 2012 hmm... blueriverview...probably you did not read all the message before it to make comment.See an agent have only that much of time a day, maybe in the evening a agent at best can only serve 2 buyers to view 3 houses each (total 6 location). Hence, in a week , an agent on average can only serve about 10 buyer plus the sellers. How can an agent keep all buyers to serve, of course he would want to select who to serve. If you have more than you can handle, it is only right that you keep some and kick some, rather then to give a sub-standard service to all. Please dont you treat your boss like 'KING' because the money is in his pocket? Have some self respect for yourself and your profession.....your boss need your skill as much as you need his money. No time to suck thumb, sorry to disappoint you. See it is 12:05am now, i am still working.Remember to effectively playing function of kicking and keeping.Kicking the wrongs is fatal, like therat.Keeping the wrongs like keeping ants over body. Make you scratch and busy for nothing. Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 10, 2012 Hi,If you engage a buyer agents, did you sign a exclusive contract with the agent? Buyer agent know buyer usually have could have other buyer agents serving them, hence the effort they put in may end up with no commission in the end. If there are 4 agent helping a buyer, the agent have 25% of closing and earning a commission. Say your boss have 4 worker, Will you work for your boss if at the end of the month the boss only give a full income to the one best worker and if none of the 4 workers produce the result that is desire all get nothing(oh, the result not measurable, it is base on the boss liking). Can your boss say, i pay salary ok and i expect all to work hard to earn my money.Well, if you work with only one agent, let him know you are willing to work with him only....i am sure he will work hard to earn a commission.Just from the point of view as agent.I second u.Youngsters these days don't believe in loyalty and friendship, but only "partnership".They believe in "diversification techniques" which they learnt in sch, to maximise personal interests and gains meanwhile exploiting those around, as if they are king, the only winner. They prefer win/lose situations, to show off their "strength" and face, they never give a win/win a consideration, what/where went wrong?The school did not teach them that lot of kneeling will keep oneself in good standing. Share this post Link to post Share on other sites
bepgof 20 Report post Posted July 10, 2012 (edited) Possible maybe if you apply to be CEA boss and change all the rule.Those that I said are unexpressed yet practicale rules which keeps the agents surviving. These rules definitely can not be pen down in CEA manual, common sense right? Manuals always write "customers pay your salary", and NEVER pen down HOW. Why huh?A sucessful agent MUST practice and perfect the KICKING skill(of course in a win/win way- the one being kicked doesn't feel being kicked)to get rid of ants and KEEP only the cows and bees WHO CAN produce milk and honey. - These are the group of customers who could pay your salary!, understand now? Edited July 10, 2012 by bepgof Share this post Link to post Share on other sites
blueriverview 0 Report post Posted July 11, 2012 I second u.Youngsters these days don't believe in loyalty and friendship, but only "partnership".They believe in "diversification techniques" which they learnt in sch, to maximise personal interests and gains meanwhile exploiting those around, as if they are king, the only winner. They prefer win/lose situations, to show off their "strength" and face, they never give a win/win a consideration, what/where went wrong?The school did not teach them that lot of kneeling will keep oneself in good standing.Dear Veterans....i'm sure you have grown old enough to realize when monetary transaction for agent services are involved, there is no friendship. Especially when the current system designed for agents has got serious flaws as I have mentioned in my previous post. Friendship don't involve money. Peace. Share this post Link to post Share on other sites
dreamzgal 0 Report post Posted July 11, 2012 (edited) Hi morning everyone Sandal Bro... your 2nd appointment coming very soon therat@ Happy for you that you have found your new home Did you do the paper work yourself? If convenient, please PM me on the process. I believe I'm not too demanding to expect progress (eg house viewing or updates on buyer interest for our unit).These are the basic requirements, aren't they?I guess we should not hindrance the agent business, he may have other clients who have more & bigger potential.We'll move on somehow, either with the same agent or not! I won't sit around and wait for things to hapen, I'll do my fair share of work. I just hope to meet sincere & reasonable people Edited July 11, 2012 by dreamzgal Share this post Link to post Share on other sites
blueriverview 0 Report post Posted July 11, 2012 Try understand whats are:efficient mktweak mktstrong mktsemi-strong mktsemi-weak mktWill make u feel better.Where are we now?hmm..thread is getting interesting.I'll like to hear your views on where are we now? Share this post Link to post Share on other sites
blueriverview 0 Report post Posted July 11, 2012 Hi morning everyone Sandal Bro... your 2nd appointment coming very soon therat@ Happy for you that you have found your new home Did you do the paper work yourself? If convenient, please PM me on the process. I believe I'm not too demanding to expect progress (eg house viewing or updates on buyer interest for our unit).These are the basic requirements, aren't they?I guess we should not hindrance the agent business, he may have other clients who have more & bigger potential.We'll move on somehow, either with the same agent or not! I won't sit around and wait for things to hapen, I'll do my fair share of work. I just hope to meet sincere & reasonable people Hi dreamzgal...everything is on the website http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatChecklists?OpenDocumentgood luck! Share this post Link to post Share on other sites
May_dream1 14 Report post Posted July 11, 2012 Hi morning everyone therat@ Happy for you that you have found your new home Did you do the paper work yourself? If convenient, please PM me on the process. morning, dreamzgal!!! i understand your situation. why don't you go for hdb's seminar on resale policies/procedures. THey will tell you what to do to do own paperwork.http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatResaleSeminar?OpenDocument Share this post Link to post Share on other sites
Sandal 0 Report post Posted July 11, 2012 yeah. my 2nd appointment coming liao. So excited but the wait is like so long Share this post Link to post Share on other sites
dreamzgal 0 Report post Posted July 11, 2012 (edited) Wow... thanks blueriverview & May_dream1 I'll quick quick find time to read through the information Bro... understand your anxiety But the wait is worth while as you can have more time to plan for your reno All the best for your reno and happy shopping I'll stalk your tBlog for updates Edited July 11, 2012 by dreamzgal Share this post Link to post Share on other sites
therat 18 Report post Posted July 11, 2012 therat@ Happy for you that you have found your new home Did you do the paper work yourself? If convenient, please PM me on the process. Where got time to do paper work myself.Further more, the seller agent only take in direct buyer. He filter out all the buyer agent call. He told my spouse.As we are walk in buyer. He gave TOP priority to us.That is one of the problem in old system when agent can represent both side (seller and buyer).Seller cannot sell at the high price. Too bad.But.. I'm buyer.My objective is buy a HDB unit, with the location, floor and price I want.U know sth. My spouse only want unit from that 4 BLOCKS.. Wah pian.. Share this post Link to post Share on other sites
dreamzgal 0 Report post Posted July 12, 2012 Where got time to do paper work myself.Further more, the seller agent only take in direct buyer. He filter out all the buyer agent call. He told my spouse.As we are walk in buyer. He gave TOP priority to us.That is one of the problem in old system when agent can represent both side (seller and buyer).Seller cannot sell at the high price. Too bad.But.. I'm buyer.My objective is buy a HDB unit, with the location, floor and price I want.U know sth. My spouse only want unit from that 4 BLOCKS.. Wah pian.. Wow, only from 4 blocks! At least you have found ur new house already, Congrats Keke.. can only wish myself Good Luck in securing a unit that we like soon Share this post Link to post Share on other sites
Sandal 0 Report post Posted July 12, 2012 No worries la sister. Your dream house coming liao. So weekend now busy with viewing and more viewing? Share this post Link to post Share on other sites
