Are Property Agents Trustworthy?

[Bigfuck]

Is LKY trustworthy as a reverse question posed.

 

[chootchiew]

I came across property agents representing buyers and sellers in cahoots to cheat both the buyer and seller. How they do it.

1) seller's agent physco the seller that their property only worth $X
2) seller's agent then work with buyer's agent
3) buyer's agent physco buyer that you need min how much $ to buy that unit
4) After sometime ,buyer's agent then tell buyer, good news...ok, the seller agent is willing to sell you at $X. but only if you willing to pay the seller's agent commission

 

[moolightaffairs]

I came across property agents representing buyers and sellers in cahoots to cheat both the buyer and seller. How they do it.

1) seller's agent physco the seller that their property only worth $X
2) seller's agent then work with buyer's agent
3) buyer's agent physco buyer that you need min how much $ to buy that unit
4) After sometime ,buyer's agent then tell buyer, good news...ok, the seller agent is willing to sell you at $X. but only if you willing to pay the seller's agent commission

its more than this. u got to be careful when dealing with them and don't sign any documents they ask you to, read through and ask questions. when in doubt, don't sign and call off the deal. don't rush.

 

[chootchiew]

its more than this. u got to be careful when dealing with them and don't sign any documents they ask you to, read through and ask questions. when in doubt, don't sign and call off the deal. don't rush.

Do you have any idea, in this case if the buyer go directly to the seller and settle with a deal, can they forego the agent ? Is it an offence ?

 

[(o)(o)]

its more than this. u got to be careful when dealing with them and don't sign any documents they ask you to, read through and ask questions. when in doubt, don't sign and call off the deal. don't rush.

Yes, this is one of their many dirty tricks. There are truly honest agents around, and there are dishonest ones. It really depends on luck.

 

[ykhuser]

Does this mean that all ppl in sales are conmen including remisers, cc salesmen and hell even fund managers?

80% of them

 

[moolightaffairs]

Do you have any idea, in this case if the buyer go directly to the seller and settle with a deal, can they forego the agent ? Is it an offence ?

if u r the buyer and never appoint any agent of your own, that means u never sign any commission agreement. it is not wrong legally or morally to go direct to the owner. nothing in the law stated u got to get a agent to buy or sell. if u signed it, even u do everything yourself u got to pay the agent.
if the owner signed exclusive with the agent, only that agent can sell the property for him. if the owner want to handle himself got to wait for the exclusive to expire if it come with an expiry date. like wise if the owner do everything himself, still got to pay the agent to avoid legal action. last time one agent can handle the owner and buyer, now can handle either one only due to conflict of interest.
everyone can buy or sell HDB or private as long as u r the owner. no need agents at all. trust me, it will save you a lot of money for some expensive holiday for whole family end of the year. anyway it is very easy and the only guy u need to pay is the lawyer.

 

[chootchiew]

if u r the buyer and never appoint any agent of your own, that means u never sign any commission agreement. it is not wrong legally or morally to go direct to the owner. nothing in the law stated u got to get a agent to buy or sell. if u signed it, even u do everything yourself u got to pay the agent.
if the owner signed exclusive with the agent, only that agent can sell the property for him. if the owner want to handle himself got to wait for the exclusive to expire if it come with an expiry date. like wise if the owner do everything himself, still got to pay the agent to avoid legal action. last time one agent can handle the owner and buyer, now can handle either one only due to conflict of interest.
everyone can buy or sell HDB or private as long as u r the owner. no need agents at all. trust me, it will save you a lot of money for some expensive holiday for whole family end of the year. anyway it is very easy and the only guy u need to pay is the lawyer.

Thanks for taking your time to explain. What you mentioned is general case. There are times where the deal is bit unusual.

Buyer A is an individual with no agent. Seller B has a agent. Buyer A is willing to pay the amount Seller B asking for. However the agent for Seller B want to take commission from Buyer A since he has no agent. If not he refuse to let him buy, whereby Seller is willing to sell. As such , can Buyer A buy directly from Seller B without the agent intervene , even Seller B has signed agreement with agent, the flat does not belong to the agent, what right has the agent not wanting to sell to the buyer ?

 

[scroobal]

This is a daily issue and a perennial problem. Recently there was a case where the authorities prosecuted but it is difficult to show the barriers placed by the agent.

As ML said, go straight to the owner if you can find him and quote your offer price. Drop a note in the letter box with your contact details. An agent cannot conceal an offer and an off to the owners directly is an offer.

Do bear in mind that this will spur the agent to purposely seek out a higher offer just to teach you a lesson and he will use your as base price.

If you really want the unit, sometime you have to pay these idiots.

The issue is so bad the they transferred the former Dir CPIB to handle these issues.

Thanks for taking your time to explain. What you mentioned is general case. There are times where the deal is bit unusual.

Buyer A is an individual with no agent. Seller B has a agent. Buyer A is willing to pay the amount Seller B asking for. However the agent for Seller B want to take commission from Buyer A since he has no agent. If not he refuse to let him buy, whereby Seller is willing to sell. As such , can Buyer A buy directly from Seller B without the agent intervene , even Seller B has signed agreement with agent, the flat does not belong to the agent, what right has the agent not wanting to sell to the buyer ?

 

[jw5]

This is a daily issue and a perennial problem. Recently there was a case where the authorities prosecuted but it is difficult to show the barriers placed by the agent.

As ML said, go straight to the owner if you can find him and quote your offer price. Drop a note in the letter box with your contact details. An agent cannot conceal an offer and an off to the owners directly is an offer.

ML is the same guy you claimed used to drive the police bus.
Being manipulative again as usual.

Scroobal, you have no right to comment about tricky agents, because you have proven yourself to be as cunning and deceptive as the worst agent around.
So don't pretend to sound righteous, you hypocrite.

 

[moolightaffairs]

Thanks for taking your time to explain. What you mentioned is general case. There are times where the deal is bit unusual.

Buyer A is an individual with no agent. Seller B has a agent. Buyer A is willing to pay the amount Seller B asking for. However the agent for Seller B want to take commission from Buyer A since he has no agent. If not he refuse to let him buy, whereby Seller is willing to sell. As such , can Buyer A buy directly from Seller B without the agent intervene , even Seller B has signed agreement with agent, the flat does not belong to the agent, what right has the agent not wanting to sell to the buyer ?

first now under the law one agent cannot represent owner and buyer at the same time, so agent cannot take commission from both side.
if the owner signed commission agreement and/or exclusive with the agent. agent got no right to stop owner from selling, but will ask from owner comm after owner sold the unit as long as owner signed the agreement.

 

[moolightaffairs]

This is a daily issue and a perennial problem. Recently there was a case where the authorities prosecuted but it is difficult to show the barriers placed by the agent.

As ML said, go straight to the owner if you can find him and quote your offer price. Drop a note in the letter box with your contact details. An agent cannot conceal an offer and an off to the owners directly is an offer.

Do bear in mind that this will spur the agent to purposely seek out a higher offer just to teach you a lesson and he will use your as base price.

If you really want the unit, sometime you have to pay these idiots.

The issue is so bad the they transferred the former Dir CPIB to handle these issues.

i think this is not your field of specialise.
agents do conceal offers. if the owner got signed agreement with the agent, just make the offer to the agent or the owner. bo pian, deal got to let the agent handle.
buyer do not pay comm to agent if the agent is representing the owner. now agent cannot represent buyer and owner in the same deal. sometime they will ask their colleagues in cahoots to represent the other party to get comm if no agent representing them, more like con the other party into signing some comm agreement.

 

[moolightaffairs]

ML is the same guy you claimed used to drive the police bus.
Being manipulative again as usual.

Scroobal, you have no right to comment about tricky agents, because you have proven yourself to be as cunning and deceptive as the worst agent around.
So don't pretend to sound righteous, you hypocrite.

bro, he know nuts about real estate and how agents con people.

 

[chootchiew]

i think this is not your field of specialise.
agents do conceal offers. if the owner got signed agreement with the agent, just make the offer to the agent or the owner. bo pian, deal got to let the agent handle.
buyer do not pay comm to agent if the agent is representing the owner. now agent cannot represent buyer and owner in the same deal. sometime they will ask their colleagues in cahoots to represent the other party to get comm if no agent representing them, more like con the other party into signing some comm agreement.

IC, nabei even agent no more involve still need to pay..really have to open eyes wide before signing with agent and analyse if they are trustable person, bestest is like what u said don't get agent involve at all let them jia sai

 

[scroobal]

You do need to read my post more carefully. That is why I said that it is a perennial issue. Concealing offers is the single biggest issue.The recent case that made the papers included concealing offers. The are 2 other issues. Your points are no different to mine.

In addition, not all exclusive agreement is the same. An exclusive contract may come in 2 forms. Some owners in an exclusive agreement will specify that they will not pay the agent a dime if the buyer is secured by owner. Most sellers however sign the general agreement provided by the agent and end up paying the commission even when they found the buyer.

The savvy seller with a high end property will always use the family lawyer to handle the agents, the banks and the authorities. And the commission is tiered to incentivise a higher price, typically a break-even price point. The lawyer usually prepares the agent agreement and nobody in his right mind will accept the agent's version.

To be fair to the agent, outgoings by the agent are all honoured by the seller even if the buyer is not found by the seller and the commission is not paid.

The trouble in Singaporeans is that until recently this industry had not been regulated and sellers allow the agents to have a free reign including getting lawyers, bank financiers etc. I do feel sorry for them. The agents become the equivalent of 7-11 stores selling expensive stuff. The proper practice is to see your lawyer first. The moment an agent realises that the seller has engaged a lawyer, the shennigans will usually disappear.

i think this is not your field of specialise.
agents do conceal offers. if the owner got signed agreement with the agent, just make the offer to the agent or the owner. bo pian, deal got to let the agent handle.
buyer do not pay comm to agent if the agent is representing the owner. now agent cannot represent buyer and owner in the same deal. sometime they will ask their colleagues in cahoots to represent the other party to get comm if no agent representing them, more like con the other party into signing some comm agreement.

 

[jw5]

bro, he know nuts about real estate and how agents con people.

He knows a lot about how people con people.
Not sure which parent taught him.

 

[jw5]

You do need to read my post more carefully. That is why I said that it is a perennial issue. Concealing offers is the single biggest issue.The recent case that made the papers included concealing offers. The are 2 other issues. Your points are no different to mine.

Scroobal, which parent taught you to be so cunning and manipulative?

Does this mean that your children are as cunning and manipulative as well?
If so, it's better that they don't procreate.

 

[linkedin]

80% of them

Friend, how do you come out with 80%?

 

[(o)(o)]

Agents generally advertise their specialty, whether it's a neighborhood, type of property or specific types of buyers they may represent. For example, an agent might claim to be a specialist at selling homes in a Bukit Timah neighborhood but haven't to date. Or agents may try to market themselves as an exclusive home specialist by showcasing only high end homes on their web site, yet they have never sold a home in that price range.

 

[melissamarietan]

Well, it depends from agent to agent and experience to experience. My father has had a good experience dealing with the property agent to acquire an hdb..I can say that the agent was a trustworthy one and that my father didn't feel cheated at any point of time during his purchase of an hdb..the property agent was contacted via the Property Guru portal..request you to check out the portal for different agents..