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Thread: Lilydale

  1. #31
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    As far as possible, buy first and then sell your existing apartment...

    Quote Originally Posted by cashrich
    can sell as long as there's one buyer. You want to try selling first before buying?

  2. #32
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    Quote Originally Posted by Komo
    I believe everyone has similar story to tell. Those foreign talent even more creative. In any case good to share. It's a principal-agent thing. Agent, by nature, are ONLY interested to work to maximise their own gain, not yours. The challenge is to align that selfish motive to meet your objective as well.
    agree wif ur view on agents working for maximum gain for themselves.
    Tis is the sad part abt selling. There is no transparency at all wif all this agents ard.

  3. #33
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    All in all this whole episode had taught us a lesson. Now we r at a cross roads of rili pushing on wif the sale coz we have found a unit tat we rili like and wish to buy for home stay or to just to cancel and stay put. We may decide on either but wateva it is, tis lesson will be remembered in a long long time.

  4. #34
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    Quote Originally Posted by Sgysfj
    All in all this whole episode had taught us a lesson. Now we r at a cross roads of rili pushing on wif the sale coz we have found a unit tat we rili like and wish to buy for home stay or to just to cancel and stay put. We may decide on either but wateva it is, tis lesson will be remembered in a long long time.
    Ask your agent to collect the deposit plus forms, talk is cheap (be it x -20 or x-25). You then take from there to decide you want to accept of decline in the case of yours..

    On the other hand…if you considered that is your dream unit. Consider to offer abit lower to offset your selling , the whole mechanism may just balance. Loose some, win some…some time we can not win all ….

  5. #35
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    Quote Originally Posted by zzz1
    Ask your agent to collect the deposit plus forms, talk is cheap (be it x -20 or x-25). You then take from there to decide you want to accept of decline in the case of yours..

    On the other hand…if you considered that is your dream unit. Consider to offer abit lower to offset your selling , the whole mechanism may just balance. Loose some, win some…some time we can not win all ….
    unfortunately, I hv oredi tol d agent we r pulling out n won't proceed.
    I guess it's natural instinct to pull out once there is doubt in the whole process.

    Wat u say is true..I did consider accepting one of the offers n offer to buy the lilydale at a lower price..however ultimately I feel I jus doubt the agent to the extent I dnt wan to the whole ting go tru at all.

  6. #36
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    Quote Originally Posted by Sgysfj
    unfortunately, I hv oredi tol d agent we r pulling out n won't proceed.
    I guess it's natural instinct to pull out once there is doubt in the whole process.

    Wat u say is true..I did consider accepting one of the offers n offer to buy the lilydale at a lower price..however ultimately I feel I jus doubt the agent to the extent I dnt wan to the whole ting go tru at all.
    it is better not to nego directly with the buyers....u may ended up getting even lower offers or buyers back out....

    before selling....ask urself whether u r serious in selling or merely testing market?

    all buyers wana buy low low....and all sellers wana sell high high....i believe agts goto tell lies here and there inorder to close a deal...smtimes it cud be a white lie? depends how u see it....very often , u will hear agts telling u as a buyer tat the last offer was xx....imagine u nego with the buyers directly...den u say the last offer was actually lower or better still...no last offer at all....the whole lobang blow up....lol

    may ended up in serious argument....if u wana nego with buyers directly...y engage an agent in the first place? u shd sell the hse urself and advertise on the newspaper on ur own....i have tried b4...doesnt work one...haha

    i remember last time...i was ignorant....i viewed a place and i straightaway match seller asking price without bargaining on the very SPOT....ended up, the seller up the asking price and i walk away....if i were to go back hm and make the offer via the agt and make my first offer 1-2% lower den asking price...i wud have probably bot the place oredi....we nid middleman one lah....

  7. #37
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    another way to get higher offer is to 'motivate' ur agent.....tell him let say fetch me this x price...u will pay him X more comm....if not only 1% comm...it works for me

    performance based comm

  8. #38
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    I have met agents who offered to let me nego directly wif the seller and the agent takes up the facilitator role.I feel this way is better as both seller n buyer can rili show sincerity n seriousness in dealing.

    I agree wif ur view on tings may go out of hand but I belief if all parties are sincere n objective.. Then most prob tings dnt go out of hand.

    I hv tot of selling the unit myself. However I oso realise it may quite tedious n the results may not be favorable.

    It can be said we r serious abt selling, however we jus wan a honest process n of course fetch the price tat we wan.


    Quote Originally Posted by devilplate
    it is better not to nego directly with the buyers....u may ended up getting even lower offers or buyers back out....

    before selling....ask urself whether u r serious in selling or merely testing market?

    all buyers wana buy low low....and all sellers wana sell high high....i believe agts goto tell lies here and there inorder to close a deal...smtimes it cud be a white lie? depends how u see it....very often , u will hear agts telling u as a buyer tat the last offer was xx....imagine u nego with the buyers directly...den u say the last offer was actually lower or better still...no last offer at all....the whole lobang blow up....lol

    may ended up in serious argument....if u wana nego with buyers directly...y engage an agent in the first place? u shd sell the hse urself and advertise on the newspaper on ur own....i have tried b4...doesnt work one...haha

    i remember last time...i was ignorant....i viewed a place and i straightaway match seller asking price without bargaining on the very SPOT....ended up, the seller up the asking price and i walk away....if i were to go back hm and make the offer via the agt and make my first offer 1-2% lower den asking price...i wud have probably bot the place oredi....we nid middleman one lah....

  9. #39
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    Quote Originally Posted by Sgysfj
    I have met agents who offered to let me nego directly wif the seller and the agent takes up the facilitator role.I feel this way is better as both seller n buyer can rili show sincerity n seriousness in dealing.

    I agree wif ur view on tings may go out of hand but I belief if all parties are sincere n objective.. Then most prob tings dnt go out of hand.

    I hv tot of selling the unit myself. However I oso realise it may quite tedious n the results may not be favorable.

    It can be said we r serious abt selling, however we jus wan a honest process n of course fetch the price tat we wan.

    as a seller, ur job is too engage a best performing agt(negotiator)

    y wud u wana nego the prices urself and yet paying the agt the same comm??? agts most impt role is to nego and fetch(pyscho) the best price for u and not just merely advertise and bring buyers to view the place...

    only CMI agts wud want sellers/buyers to nego the price as they themselves duno how to close the deal....haha

    try performance based comm lah...or change another agt

  10. #40
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    Quote Originally Posted by devilplate
    as a seller, ur job is too engage a best performing agt(negotiator)

    y wud u wana nego the prices urself and yet paying the agt the same comm??? agts most impt role is to nego and fetch(pyscho) the best price for u and not just merely advertise and bring buyers to view the place...

    only CMI agts wud want sellers/buyers to nego the price as they themselves duno how to close the deal....haha

    try performance based comm lah...or change another agt
    I have realised tis.. However how many agents r wiling to work n take on the job on the performance based tingy

  11. #41
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    Quote Originally Posted by Sgysfj
    I have realised tis.. However how many agents r wiling to work n take on the job on the performance based tingy
    of coz tell them 2 % comm first lah...

    let say asking price 1mil...if he really fetch 1mil...den u willingly pay 2% full comm mah....if lower den tat say only 1%...fetch more share share lah

  12. #42
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    Quote Originally Posted by devilplate
    of coz tell them 2 % comm first lah...

    let say asking price 1mil...if he really fetch 1mil...den u willingly pay 2% full comm mah....if lower den tat say only 1%...fetch more share share lah
    do agent accept if I offer tis way? Always tot the 2% is standard.

  13. #43
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    Quote Originally Posted by Sgysfj
    do agent accept if I offer tis way? Always tot the 2% is standard.
    comm can nego one....in a way can test whether tat agt gd at negotiating anot like pressing down his comm....haha

    if a agt readily accept 1% comm...means CMI

  14. #44
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    Quote Originally Posted by devilplate
    comm can nego one....in a way can test whether tat agt gd at negotiating anot like pressing down his comm....haha

    if a agt readily accept 1% comm...means CMI

    Will try tis shld we decide to engaged another agent...
    Actuali I'm quite keen to try rattydrama's way to selling n the way she handle the agent.havg said tat, I'm afraid my Missus get fed up again shld d selling falls tru again becoz of agent!!!

    Haizzz in a dilemma la..

  15. #45
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    Quote Originally Posted by gohsoonk
    As far as possible, buy first and then sell your existing apartment...
    Bank loan will be an issue if you dont have the OTP for the house you wanna sell and owner will be pressured to sell.

  16. #46
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    Sgysfj

    Share with you more while its still fresh in my mind for the HDB sales.

    You must do a bit of home work for your current house.

    Have you done a valuation? U need to pay $180.

    You can ask the agent what is his strategy of handling the valuer when they are here. If your unit is renovated, valuation price can be higher. It is important to get a high valuation.

    You also need to find out what is the recent transacted price of your neighbour house. You can ask your potential agent to show you a copy of the OTP contract selling price of his recent sales similar to your unit. Similar can mean same size, same level, same facing, same location.

    Also read up on classified page in the straits times how many flats of same or close as yours are on sale. You can call to find out the asking price or the last offer price. Pretend that you are the potential buyer and ask as many questions as possible such as is the unit renovated, price negotiable etc..

    property guru may not be a good gauge as the price may be inflated or too low. It does not really tell the current market price of your unit due to many reasons which I shall not elaborate here.

    So, in this way you will know the price range that your unit will be sold. It will mean that:

    X price = sure sell
    Y price = can sell but need to wait
    Z price = agent got to work super hard, not impossible.

    and finally your price A.

    Ask the agent, what is the price he is confident of selling before signing the exclusive. (very important! If he cannot sell later, suan him hard hard)

    So you price your asking price accordingly and for the rest, read my previous post on how to deal with agent.


    Get an agent that has been dealing with your estate only. Dont get agent who deals with several estates as he may not have the feel of the market price of your unit.

    This is because, agent familiar with your estate will know all the prices of his competitors and will probably have a strategy of how to close a deal, he is familiar with the estate and is able to response swiftly to potential buyer or even buyer's agent tones of questions. In this way your agent has upper hand to influence the buyer's agent and ultimately the buyer.

    During the open house, pls ask your kids to play around yr house,make it as cosy as possible, buy few BMWs toy cars to show that you are well off as this will leave an impression to your potential buyer.

    Try to engage the house viewers. Talk to them and tell them how convenient it is from your place to market etc.... Be friendly. If they ask why you sell, just say that upgrading to private in D 9,10,11 and share with them your views on ppty market. (I din say that thou)

    Keep your house in clean and tip top conditions. on all your aircons 15 minutes before viewings and switch on all lights to make the whole house as bright as possible. Best is install few down lights it will really lighten up your place.

    If your house is west facing, dont arrange house viewing in the late afternoon. Do it after 7pm or before 11am.
    Last edited by rattydrama; 22-10-10 at 00:21.

  17. #47
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    Rattydrama

    thanks alot. U have been a great help. This will sure help me plan my strategy better.

  18. #48
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    I thought of performance based as well...and I think it works if I am in the shoes of the agent...

    Fixed commission
    x price or less = 1%

    Tier commission
    105% of x price = 1.5%
    110% of x price = 2%
    For every 5% increment of 110% of x price onwards, agent gets additional 1%. Sounds good?

    Set x price based on URA caveats + 5%. hee hee...

    Quote Originally Posted by Sgysfj
    I have realised tis.. However how many agents r wiling to work n take on the job on the performance based tingy

  19. #49
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    Quote Originally Posted by gohsoonk
    I thought of performance based as well...and I think it works if I am in the shoes of the agent...

    Fixed commission
    x price or less = 1%

    Tier commission
    105% of x price = 1.5%
    110% of x price = 2%
    For every 5% increment of 110% of x price onwards, agent gets additional 1%. Sounds good?

    Set x price based on URA caveats + 5%. hee hee...


    Don't tink my nego power so good to get agent to agree to such offer.
    Tink I will jus nego to pay a lower commision if the price is lower than x...

  20. #50
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    Have engaged a new agent.let's see how tings goes. Tis time I am armed wif beta knowledge of the process... Hope tis time noting go wrong n I can start to look for a new plc to buy


    Quote Originally Posted by rattydrama
    Sgysfj

    Share with you more while its still fresh in my mind for the HDB sales.

    You must do a bit of home work for your current house.

    Have you done a valuation? U need to pay $180.

    You can ask the agent what is his strategy of handling the valuer when they are here. If your unit is renovated, valuation price can be higher. It is important to get a high valuation.

    You also need to find out what is the recent transacted price of your neighbour house. You can ask your potential agent to show you a copy of the OTP contract selling price of his recent sales similar to your unit. Similar can mean same size, same level, same facing, same location.

    Also read up on classified page in the straits times how many flats of same or close as yours are on sale. You can call to find out the asking price or the last offer price. Pretend that you are the potential buyer and ask as many questions as possible such as is the unit renovated, price negotiable etc..

    property guru may not be a good gauge as the price may be inflated or too low. It does not really tell the current market price of your unit due to many reasons which I shall not elaborate here.

    So, in this way you will know the price range that your unit will be sold. It will mean that:

    X price = sure sell
    Y price = can sell but need to wait
    Z price = agent got to work super hard, not impossible.

    and finally your price A.

    Ask the agent, what is the price he is confident of selling before signing the exclusive. (very important! If he cannot sell later, suan him hard hard)

    So you price your asking price accordingly and for the rest, read my previous post on how to deal with agent.


    Get an agent that has been dealing with your estate only. Dont get agent who deals with several estates as he may not have the feel of the market price of your unit.

    This is because, agent familiar with your estate will know all the prices of his competitors and will probably have a strategy of how to close a deal, he is familiar with the estate and is able to response swiftly to potential buyer or even buyer's agent tones of questions. In this way your agent has upper hand to influence the buyer's agent and ultimately the buyer.

    During the open house, pls ask your kids to play around yr house,make it as cosy as possible, buy few BMWs toy cars to show that you are well off as this will leave an impression to your potential buyer.

    Try to engage the house viewers. Talk to them and tell them how convenient it is from your place to market etc.... Be friendly. If they ask why you sell, just say that upgrading to private in D 9,10,11 and share with them your views on ppty market. (I din say that thou)

    Keep your house in clean and tip top conditions. on all your aircons 15 minutes before viewings and switch on all lights to make the whole house as bright as possible. Best is install few down lights it will really lighten up your place.

    If your house is west facing, dont arrange house viewing in the late afternoon. Do it after 7pm or before 11am.

  21. #51
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    wow good luck. I am sure this time round you will be able to get the right price. Now HDB price is still holding strong but I doubt it will hold up strong. So if it is lesser than what is your perceive price yet it is above/same market price, just let go. (unless ur unit veri veri special and feng shui very good and people are convinced that it is the germs within the vicinity)

    My agent last told me, it is not good to put your house in the market for too long cos competitor's agents are likely to say negative remarks on your unit and dissuade potential buyers from viewing your unit.

    So agent has to carry out intensive marketing for your unit. And you must follow up with him closely and also bark him to update you.

  22. #52
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    Quote Originally Posted by rattydrama
    wow good luck. I am sure this time round you will be able to get the right price. Now HDB price is still holding strong but I doubt it will hold up strong. So if it is lesser than what is your perceive price yet it is above/same market price, just let go. (unless ur unit veri veri special and feng shui very good and people are convinced that it is the germs within the vicinity)

    My agent last told me, it is not good to put your house in the market for too long cos competitor's agents are likely to say negative remarks on your unit and dissuade potential buyers from viewing your unit.

    So agent has to carry out intensive marketing for your unit. And you must follow up with him closely and also bark him to update you.
    last time round, we got an offer of abt 6k above the highest transacted price for the 4 blocks in my area. However we rejected it coz of the shoddy agent.
    Our flat valuation is abt 20k higher than the others in the four blocks..I have
    checked tis by calling other units tat are listed for sale. I had asked the new
    agent to do another valuation.

    Will probably let go if there is an offer of x(my asking price)-15k or more. Tis
    range is oredi above the market rate for the four blocks. Jus to share the new
    agent is very confident to sell at my asking price.. Wich is abt 25k above the
    highest sold among the 4 blocks..

    Talk is cheap I guess.. Let's see how SHE performs...

  23. #53
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    this is good news. so you do your homework and the agent who is talking to you will have to be extra careful, do extra homework and commit to you.... win win situation.

    My price is also the highest of that time so I think my strategy should work bah.

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    Btw ratty technicali we have oni marketed the flat for abt 2 weeks. Tis was the previous agent and thn now the agent has taken over.

    We gave the new agent a timeline of one n half months to market afterwich we wld withdraw.. U mention abt marketing for too long is not good.. How long is considered too long?

  25. #55
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    bw, speaking of MCC land, there is another plot of land which they bidded just next to sembawang shopping centre. the land psf is about the same as canopy, less then 300psf as far as I could recall.

    I tot this place is even better than canopy cos its still not far away from sembawang mrt station and sembawang mrt station will probably connect to another MRT line all the way to changi airport.

  26. #56
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    Quote Originally Posted by rattydrama
    this is good news. so you do your homework and the agent who is talking to you will have to be extra careful, do extra homework and commit to you.... win win situation.

    My price is also the highest of that time so I think my strategy should work bah.
    Actuali I hv done my homework even wen
    with the previous agent. However, that agent
    stil wana pull a fast one.. Tats y din accept
    the last offer...
    Mayb our expectations r too high..or mayb
    market rili slow now.. In any case, x-15k I wi accept Liao but will tell the agent her fees will be cut.. Hopefuli she don't read tis.. Hahahaha

  27. #57
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    by 3rd week should get an offer from the day they advertise and not more than 6 weeks should be fair in today's market.



    Quote Originally Posted by Sgysfj
    Btw ratty technicali we have oni marketed the flat for abt 2 weeks. Tis was the previous agent and thn now the agent has taken over.

    We gave the new agent a timeline of one n half months to market afterwich we wld withdraw.. U mention abt marketing for too long is not good.. How long is considered too long?

  28. #58
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    she has already committed to you. So it is not important if she reads it. She has spent on her marketing definitely she will want to close too and do it quickly to save time and costs and move on.


    Quote Originally Posted by Sgysfj
    Actuali I hv done my homework even wen
    with the previous agent. However, that agent
    stil wana pull a fast one.. Tats y din accept
    the last offer...
    Mayb our expectations r too high..or mayb
    market rili slow now.. In any case, x-15k I wi accept Liao but will tell the agent her fees will be cut.. Hopefuli she don't read tis.. Hahahaha

  29. #59
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    Quote Originally Posted by rattydrama
    by 3rd week should get an offer from the day they advertise and not more than 6 weeks should be fair in today's market.
    hmmm the last agent got an offer on the 1st viewing and another different offer frm the 2nd viewing(highest). Lets see how Tis new agent fares.. Noticed she din adv in papers today.. So I m not sure of her marketing strategy.

  30. #60
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    Quote Originally Posted by Sgysfj
    hmmm the last agent got an offer on the 1st viewing and another different offer frm the 2nd viewing(highest). Lets see how Tis new agent fares.. Noticed she din adv in papers today.. So I m not sure of her marketing strategy.
    kaypo and ask her why lor, nag at her.

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