I Hate Paying Agent FEE !!!!

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
Post Reply
Beeroclock
Reporter
Reporter
Posts: 718
Joined: Thu, 31 Oct 2013 2:51 pm

Post by Beeroclock » Mon, 18 Nov 2013 8:59 pm

Yes this opportunistic advertising was a major bugbear of mine when we were looking. Wonder if it has been formerly complained to govt or real estate body to take action on this? It really creates inefficiency in the market and distorts the ability to assess supply when it's impossible to gauge of the 20 apartments listed, is that really 2 or x?? Not to mention unsuspecting buyers who don't know the plot and get unintentionally drawn in to using an agent to buy on their behalf.

Singapore Property Search

 

User avatar
Mi Amigo
Manager
Manager
Posts: 1793
Joined: Sat, 19 Jun 2004 10:23 pm
Location: Kinto Pino

Post by Mi Amigo » Mon, 18 Nov 2013 9:36 pm

nakatago wrote:And sometimes, there are pics still. If you call and you get asked "What your budget? I call back meh", hang up.
And/or you get asked, "Are you an expat? Where are you from? Which company do you work for? How much do you earn? How many children do you have? How many times a week do you have sex with your partner?"

OK, I made the last one up, but you get the idea. Bl00dy nosey bustards most of 'em. :x And the ulterior motive in many cases is to find out whether or not you are from the 'right' ethnic group - if not, then the place will mysteriously become unavailable.
Last edited by Mi Amigo on Mon, 18 Nov 2013 9:51 pm, edited 1 time in total.
Be careful what you wish for

User avatar
Mi Amigo
Manager
Manager
Posts: 1793
Joined: Sat, 19 Jun 2004 10:23 pm
Location: Kinto Pino

Post by Mi Amigo » Mon, 18 Nov 2013 9:44 pm

Beeroclock wrote:Yes this opportunistic advertising was a major bugbear of mine when we were looking. Wonder if it has been formerly complained to govt or real estate body to take action on this? It really creates inefficiency in the market and distorts the ability to assess supply when it's impossible to gauge of the 20 apartments listed, is that really 2 or x?? Not to mention unsuspecting buyers who don't know the plot and get unintentionally drawn in to using an agent to buy on their behalf.
Well I think we have to keep in mind that the whole system is completely stacked in favour of the (mainly local) property owners. Us expats are here to be milked for as much cash as possible. Try getting a legal opinion on a TA question and you'll see that the benefit of the doubt will most likely be given to the landlord.

No point in complaining about it IMO - it's just the way things work here. But what I do find galling is how, despite the fact that we put millions of dollars into the pockets of Singaporeans every month, we are still vilified for 'spoiling the market', 'stealing our jobs', etc., etc.
Be careful what you wish for

Beeroclock
Reporter
Reporter
Posts: 718
Joined: Thu, 31 Oct 2013 2:51 pm

Post by Beeroclock » Mon, 18 Nov 2013 10:42 pm

Must admit I couldn't be bothered complaining either after I was out of the market and no longer affected, but since govt taking such a strong interest in property prices nowadays why not addressing issues like this that ultimately also drive price inflation in order to feed more agents.

User avatar
Wd40
Director
Director
Posts: 4249
Joined: Tue, 04 Dec 2012 10:53 am
Location: SIndiapore

Post by Wd40 » Mon, 18 Nov 2013 10:44 pm

Beeroclock wrote:Must admit I couldn't be bothered complaining either after I was out of the market and no longer affected, but since govt taking such a strong interest in property prices nowadays why not addressing issues like this that ultimately also drive price inflation in order to feed more agents.
Gahmen don't care about rental prices at all. In fact they will close one eye to all this as it benefits the locals and they are the ones that they need to take care of. Agents are locals, landlords are locals. Tenants are the foreigners.Look at all the new rules. ABSD on foreigners. ABSD on PRs. PRs can never ever rent out their HDBs. PRs cant buy HDB for 3 years.

As long as locals feel they are taken of, is all the matters. Penalize the PRs. Penalize the foreigners even though it may not proportionately benefit the locals. Doesn't matter.

TandD
Member
Member
Posts: 45
Joined: Tue, 04 Feb 2014 4:53 am

Post by TandD » Tue, 04 Feb 2014 4:58 am

So to avoid being taken for a ride, what is the best way of searching for a property? When we relocate from the uk, we will have 2 weeks for find somewhere for our family with 2 kids.

beppi
Manager
Manager
Posts: 1752
Joined: Thu, 07 Sep 2006 11:15 am
Location: Ahlongistan (O$P$)

Post by beppi » Tue, 04 Feb 2014 6:36 am

Two weeks is short for finding a good place to live. Having just arrived in a totally new place with two kids, you will probably have lots of other things on your mind too. So you will probably not be able to avoid using an agent (unless you arrange for longer temporary accommodation - at least a month!).
At least ask around in your company or among other foreigners which agents they previously worked with and whom they can recommend. Don't go with just any one you find through an ad or the Internet, the chance of disappointment is too high.

User avatar
JR8
Immortal
Immortal
Posts: 16516
Joined: Wed, 24 Mar 2010 12:43 pm
Location: K. Puki Manis

Post by JR8 » Tue, 04 Feb 2014 8:39 am

TandD wrote:So to avoid being taken for a ride, what is the best way of searching for a property? When we relocate from the uk, we will have 2 weeks for find somewhere for our family with 2 kids.
As Beppi says 2 weeks is not long especially when you are a new arrival. More so if you're having to consider the location of schools as well.

I'd consider putting the ball into your local HRs court. Ask them how they suggest you go about doing this. Which agent to use, and suggestions of areas for your budget.

User avatar
Max Headroom
Reporter
Reporter
Posts: 911
Joined: Wed, 08 May 2013 11:31 am
Location: Singapore
Contact:

Post by Max Headroom » Tue, 04 Feb 2014 11:21 am

To be honest, I don't see the problem really. Using an agent likely means you'll be tapping into a pretty solid mental and online database of available homes that are at least fairly compatible with your criteria, as well as his or her local knowledge of Singapore's neighborhoods' pros and cons, not to mention his or her road network know-how. All of which will surely streamline your viewing days.

I reckon there's plenty of benefit to be gleaned from an agent; to wit, if he or she can cut your days viewing properties in half, then that alone will reduce your short-term accommodation cost bigtime, given the insane hotel room and Service Apartment rates nowadays.

But best of all, you'll have more time to focus on your work and family during the pretty stressful transition days, especially when you consider that you're bound to be knackered from the off-the-scale heat and humidity for the first few months.

Having said that, paying agent fee when your agent is proving to be an incompetent farty-pants is a totally different kettle of fish.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39572
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Tue, 04 Feb 2014 2:12 pm

And therein lies the problem. You probably just described the majority of them. :-k
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

Xiaolin
Newbie
Newbie
Posts: 1
Joined: Tue, 04 Feb 2014 1:44 pm
Location: Singapore
Contact:

Post by Xiaolin » Tue, 04 Feb 2014 2:12 pm

A Summary of the agent fees in Singapore. Basically buyers/tenants need not pay any agent fee to their agent representing them UNLESS you are buying HDB resale flat.

1) Agent fee – Selling And Buying of All Type of Properties Except HDB Flat

Sellers pay 1% to 2% agent fee to property agent
Buyers do not need to pay agent fee to his representing agent

2) Agent Fee – Selling And Buying of HDB Resale Flat

HDB Sellers pay 1% to 2% agent fee to seller agent
HDB Buyers will pay 1% agent fee to buyer agent

Hope this helps!

AngMoG
Reporter
Reporter
Posts: 609
Joined: Wed, 17 Apr 2013 11:39 am

Post by AngMoG » Tue, 04 Feb 2014 2:22 pm

Xiaolin wrote:A Summary of the agent fees in Singapore. Basically buyers/tenants need not pay any agent fee to their agent representing them UNLESS you are buying HDB resale flat.

1) Agent fee – Selling And Buying of All Type of Properties Except HDB Flat

Sellers pay 1% to 2% agent fee to property agent
Buyers do not need to pay agent fee to his representing agent

2) Agent Fee – Selling And Buying of HDB Resale Flat

HDB Sellers pay 1% to 2% agent fee to seller agent
HDB Buyers will pay 1% agent fee to buyer agent

Hope this helps!
This is for selling/buying, not for renting. I don't think it's relevant.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39572
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Tue, 04 Feb 2014 2:37 pm

That's only because she is a real estate agent and just shows how much/little common sense they actually have. She didn't even have the ability to read the entire thread before she started. Now she is history here. :wave:

moderator
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

User avatar
Max Headroom
Reporter
Reporter
Posts: 911
Joined: Wed, 08 May 2013 11:31 am
Location: Singapore
Contact:

Post by Max Headroom » Tue, 04 Feb 2014 4:36 pm

sundaymorningstaple wrote:And therein lies the problem. You probably just described the majority of them. :-k
SMS, I think I must have been lucky. I arrived here a total rookie, but my agent was superb, so I didn't mind one bit to pay him his fee at the end of it all. Mind you, I did make him earn it.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 39572
Joined: Thu, 11 Nov 2004 1:26 pm
Answers: 10
Location: Retired on the Little Red Dot

Post by sundaymorningstaple » Tue, 04 Feb 2014 4:58 pm

I was even luckier than that. When I came here I was single so I lived in our company's flop house (actually a nice semi-d up on Watten Estate (where Strong Eagle used to live) for the first year. After I got married, I bid on and successfully secured an old Black & White in Seletar Camp for a ridiculously low amount of rent (even by standards back then - 1983) from the old UDMC before they gave up the management of the Black & Whites to the money grubbing Pidemco/Premas Int'l group. I stayed in the same place at the same rent from 1983 till I bought my HDB flat in Jan '97 and because Pidemco went up on my rent 3 times in 2.5 years I said screw it, I'm going to buy something as it no longer more viable to rent (interest rates were substantially higher back in the 80's & early 90's). I never used an agent from the beginning. I did use an agent to find my flat because of being a 2%'er married to a 7%'er a lot of sleuthing had to be done. Fortunately, she was a jewel. She also didn't have much good to say about her colleagues in the industry. She was a recommendation and it was for a purchase, not for a rental.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Property Talk, Housing & Rental”

Who is online

Users browsing this forum: No registered users and 8 guests