Common TRicks Used by Property Agents

[devilplate]

One of the bad encounters I had with agents. There were few potential buyers for this house that I was interested in and I agreed to the original asking price but was later told unit was sold to another buyer who had offered higher but when I asked about the transaction price, agent said it was confidential.

Few months later, I found out from the URA website that the house was transacted at a price lower than my offer.

My friend told me agents could have accepted a pre-agreed "Ang Bao" from that buyer (in addition to the standard agent fee) to filter off all other offers and present only his offer to the seller.

This is really too much. Not only did I feel bad for missing the opportunity to buy that house, I felt bad for the seller who missed out getting a better price.

Such agents are disgrace and I really wonder where are their moral values?

Overall, I have very bad impressions of property agents.

next time mabe we try to use SMS/email to make an offer? like ur case happen again, can bring it up to CEA...BUST TAT AGENT!!!

btw, SMS still not legally binding in the eyes of SG LAW?

[hopeful]

I suggest to everybody to read Freakonomics: A Rogue Economist Explores the Hidden Side of Everything
It kinds of explain agent's behaviour.

[devilplate]

i aso felt vy damn sian once....

i oredi arranged a viewing and was on the way ....den tat agt called me and say viewing cancelled bcoz he got an offer liao....i said i wana view and if i like it i can make a decision on the spot....he just say sorry and hang up!

tats was during the crash period of early 09....

[Wild Falcon]

Yes - that happens. Agents are only incentivised by their commission. Sometimes u can get another agent friend to offer the price to the seller.

So, try not to use a sole exclusive agent when you're selling the place. You need "checks and balances" in place.

One of the bad encounters I had with agents. There were few potential buyers for this house that I was interested in and I agreed to the original asking price but was later told unit was sold to another buyer who had offered higher but when I asked about the transaction price, agent said it was confidential.

Few months later, I found out from the URA website that the house was transacted at a price lower than my offer.

My friend told me agents could have accepted a pre-agreed "Ang Bao" from that buyer (in addition to the standard agent fee) to filter off all other offers and present only his offer to the seller.

This is really too much. Not only did I feel bad for missing the opportunity to buy that house, I felt bad for the seller who missed out getting a better price.

Such agents are disgrace and I really wonder where are their moral values?

Overall, I have very bad impressions of property agents.

[blackpepperj]

In all fairness, some buyers, sellers, tenants and owners are not exactly saints as well.

I have met my fair share of lousy agents and at the end of the day, it's your choice whether to deal with them or not. Take everything they say with a pinch of salt. Let's not forget that there some good agents.

[ay123]

can we get seller/buyer contact after viewing with agent? negotiate direct and let agent handle the rest?

[devilplate]

burden lies on buyers/readers and not sellers/agts/writer

den no nid CEA and law liao....hehe

[ay123]

I still can remember the CB face of that agent... I pity that buyer if I were not one, I iwll push my ROD into his KNS mouth...and complian to CEA now...

u complain to CEA with yr ROD still in his mouth? who do u think CEA will believe???

[devilplate]

can we get seller/buyer contact after viewing with agent? negotiate direct and let agent handle the rest?

y not, i done tat b4 even though the agt insist to step aside to tok about the price....i offered loud loud and the owner heard it...hehe

[zzz1]

hi can anyone share experiences of tricks used by property agents you have used to buy and sell your property?

good or bad? do share.

One of the most bad experience encountered was when a agent tying to size my budget and affortablilty. In fact told me straigth off that don waste his time if don have.....,this was during the late 09.. He forgotten that t he market cycle will change.

Now properly the very same agent trying sms or call to check if you are interested to buy or sell..or worst still can't even get certified to to an agent..

[land118]

The Real estate data system at real estate offices can check the owners' names if they have the property address. But not the reverse. That is, if they have someone's name, they cannot check which properties they owned. But if they have the address of a property, they can check who are the owners.

wow, like that...if have assess, click minister name, will know their assets...Owners' name only right, not contact number or residence address right?

[hopeful]

wow, like that...if have assess, click minister name, will know their assets...Owners' name only right, not contact number or residence address right?

why should they use own name? can set company to buy.

[Lao Hu]

One of the bad encounters I had with agents. There were few potential buyers for this house that I was interested in and I agreed to the original asking price but was later told unit was sold to another buyer who had offered higher but when I asked about the transaction price, agent said it was confidential.

Few months later, I found out from the URA website that the house was transacted at a price lower than my offer.

My friend told me agents could have accepted a pre-agreed "Ang Bao" from that buyer (in addition to the standard agent fee) to filter off all other offers and present only his offer to the seller.

This is really too much. Not only did I feel bad for missing the opportunity to buy that house, I felt bad for the seller who missed out getting a better price.

Such agents are disgrace and I really wonder where are their moral values?

Overall, I have very bad impressions of property agents.

I kenna this before. The unit I was interested was sold S$20k below my offer.

[francophile]

I kenna this before. The unit I was interested was sold S$20k below my offer.

I suppose these are the reasons ppl prefer to buy from developer

[Geylang OKT]

One of the bad encounters I had with agents. There were few potential buyers for this house that I was interested in and I agreed to the original asking price but was later told unit was sold to another buyer who had offered higher but when I asked about the transaction price, agent said it was confidential.

Few months later, I found out from the URA website that the house was transacted at a price lower than my offer.

My friend told me agents could have accepted a pre-agreed "Ang Bao" from that buyer (in addition to the standard agent fee) to filter off all other offers and present only his offer to the seller.

This is really too much. Not only did I feel bad for missing the opportunity to buy that house, I felt bad for the seller who missed out getting a better price.

Such agents are disgrace and I really wonder where are their moral values?

Overall, I have very bad impressions of property agents.

Agents have moral values meh?

[kane]

same here, met an agent who claim she had an offer $10k higher than my offer. in the end it was sold at my offer price. i hate to deal with agents who don't know the client's lowest firm offer. waste of time. i prefer to just hit the offer if the price is right. rather than let some of these no integrity agents try to spark a bidding war.

[westman]

u complain to CEA with yr ROD still in his mouth? who do u think CEA will believe???

I could have missed something here... ROD is rod or wat?

[Lovelle]

after i set my price , agent still keep bringing any tom, dick, harry for viewing and annoy my tenant.

offer then came in much lower....

[Fleur]

Another kind of agent is the kind who just persuade seller to sell as heis only interested to sell quickly and don't want to waste time advertising.

[Fleur]

same here, met an agent who claim she had an offer $10k higher than my offer. in the end it was sold at my offer price. i hate to deal with agents who don't know the client's lowest firm offer. waste of time. i prefer to just hit the offer if the price is right. rather than let some of these no integrity agents try to spark a bidding war.

Maybe because he does not have to co-broke at the lower offer cos the other buyer is not represented by anyagent.

[kane]

change agent, tell your tenant not to entertain that agent's calls.

[kane]

Maybe because he does not have to co-broke at the lower offer cos the other buyer is not represented by anyagent.

i was a direct buyer with no agent representing me. after that i learnt, walk away from any deal that the agent doesn't know the client's final firm offer.

[Fleur]

Some buyers also really got no integrity. Can offer agent pocket money if he can convince owner to sell lower.

Another trick is that buyer's tries to be pally with owner and become owner's agent.

[ay123]

I could have missed something here... ROD is rod or wat?

Ask the ROD man peterng.

[ysyap]

I kenna this before. The unit I was interested was sold S$20k below my offer.

Well at least your money is still with you. I was 'conned' into believing that my offer for a BUC project was a super good deal coz my offer was the lowest psf ever accepted by developer. After 2 months, i checked URA caveat lodged, then realized there were other offers for same stacks but floors at way lower psf and also for other stacks. It's 45 psf over 1500 sf. That works out to be $67 500. I don't mind paying slightly more but $65 K is not slightly more and worse still, to be 'tricked' into believing that my offer was really good is simply . Once deal is closed, there is nothing I can do anymore. No pt scolding the agent.... Just make me more angry.

Some (Most) agents have no moral standards. I understand they need to close the deal to bring money home to feed the family but don't the rest of us non agents have the same objective? We also work a decent day's work and bring money home to feed our family? They just take those honest day's salary from us through unscrupulous means. SIGH!