Agent Fees, experts pls help

[happiness12]

For us,

We've responded to a couple of ads in the paper. Some agts just let us view the flats that they are marketing but there was one v nice agt [Agt 1] who took it upon himself and once he has any flats on offer, he will contact us to see if we wanted to view.

We did not sign any agreement with him [Agt 1] etc, but viewed a couple of the flats that he asked us to. In the end, we purchased our flat from another agt [Agt 2].

This agt [Agt 2] is the seller's agt and he did not show us around his other properties etc coz we like the flat so much that after 1~2 viewings, we confirmed on the purchase, he then followed up accordingly with the subm of docs to HDB (we had done up the HLE on our own prior to the flat search)..

So, in the end, we paid comm to Agt 2 and did not pay anything to Agt 1. Both were really nice agents. =)

Btw, just like to ask, for the 1% comm, it is only a guideline and not a definite quantum to be paid right?

 

[mylittlebusiness]

i think its just a guideline but the agent might not be earning much from it.
They advertise on the papers, online, flyers etc to look for buyers/sellers for you...
then the company also take a portion of the money.

 

[aIDa81]

The moral of the story esp the first time buyer, pls remember to negotiate the comm first and read first before signing. I didnt realise that I signed the comm agreement coz I just signed blindly. they made me sign together with OTP. wrote to legal dept, they refuse to reducethe COM, am still waiting for their reply. if no reply by next mon then I proceed to write in to the VP. I know its of no use since Ive signed the COMM, just trying my luck.

I will represent myself to hdb for my 1st and 2nd appt, do you guys think I can manage without them?

advise plssssssssssssss

Thanks in advance!

 

[tinkerball]

The moral of the story esp the first time buyer, pls remember to negotiate the comm first and read first before signing. I didnt realise that I signed the comm agreement coz I just signed blindly. they made me sign together with OTP. wrote to legal dept, they refuse to reducethe COM, am still waiting for their reply. if no reply by next mon then I proceed to write in to the VP. I know its of no use since Ive signed the COMM, just trying my luck.

I will represent myself to hdb for my 1st and 2nd appt, do you guys think I can manage without them?

advise plssssssssssssss

Thanks in advance!

since u paying the agent commision why decide to represent urself for appt?

 

[aIDa81]

I just dont want them to represent me, .... even tho I know i am still liable to pay them,.. i will just pay for my careless mistake. and at the same time i still wanna see how thick their skin is to earn easy money.. and i know what to say when i last see them.

 

[tinkerball]

I just dont want them to represent me, .... even tho I know i am still liable to pay them,.. i will just pay for my careless mistake. and at the same time i still wanna see how thick their skin is to earn easy money.. and i know what to say when i last see them.

well when i went to my 1st appt recently there's nothing much for the agent to do anyway. here's what u need to do. dun forget to bring appt letter cos u need it for registration;

1) go to 1st level for registration. (be there at least 15mins early)

2) wait for your queue number to be called. make sure u have all the documents ready. u can refer to hdb website for details.
ur number u will be called to the counter outside. sellers will sign necessary documents 1st followed by the buyer's turn.

3)u will be given another queue number to meet officer inside individual's room to find out ur AHG grant amount. sellers and buyers will take their turns to sign including caveats. caveats u'll need to pay about 100plus. bring spare cash.

4) once all settled go to 3rd floor to pay for COV (if any) and caveat fee.
ur floor plan can be purchased next to the payment counter on the same level.
this leaves u some rough idea on what to expect on appt day.

 

[aIDa81]

Thanks Tinkerbell, very helpful info, wah floor plan also have to purchase.. everthin money..roughly how much it cost dear? so when is yr next appt? renovation in plan?

 

[tinkerball]

Thanks Tinkerbell, very helpful info, wah floor plan also have to purchase.. everthin money..roughly how much it cost dear? so when is yr next appt? renovation in plan?

u will need to purchase the floor plan if u plan on renovating ur home. contractors usually need it and it costs only $5. my next appt is on 6th of May. due to budget constraints i'll only be doing the kitchen cabinet and touching up a little bit here and there.
its important for u to have all your documents including photostat copies of eg; birthcert, ic's ready. you will be doing lots of signing and the lady at the counter is quite fast. one moment she will be asking for marriage cert, before u have time to blink she will ask for ur ic's next. very rushed process so keep ur documents in order. earliest 2nd appt u can get is 4 weeks after 1st appt. i only managed to get mine at 5 weeks.

 

[aIDa81]

i see my 1st appt is on 7th may... a day after yrs...
noted sis, thanks a lot.. aiyah hdb $5 also cannot waive.

 

[Gary]

Tinkerbell.. ITS ERAAAAAAAAAAAAAAAAAAAA

Hi Pink Diamonds

I have new stuff to ask. To be honest this agent did not source me the house, he is the seller’s agent. I responded to him after seeing his ad.
He did not bring me around to view hses, I even submitted my HLE’s and AHG on my own.. do you think it is stil wise for me to pay 1% +7% GST?
I asked him recently, I thought rules now “One agent cannot represent both buyers and sellers to avoid conflict of interest”, he replied saying that
The rules is announced but not effective yet. I dont’t remember signing the commission part.. haizz, if I know I wld have done a bit of research rgding property agents LOL!

Another thing HDB registration for buying resale flat is $80,??this is applicable to buyers and sellers?? Wow then HDB must have make a lot of money!!!
Singapore everything is money!!!:shyxxx::shyxxx::shyxxx:

Well, i think its not very fair for u to quote that he did not bring u ard to view hse and he did not source the hse for u....
1st of all, if he never advertise the hse in paper, will u be able to know that there is this hse that is for sale ? So is this consider sourcing the hse for u?
Secondly, applying HLE is as simple as ABC....usually agent do not apply for buyers...why is it so? becos when u apply for HLE, u need to submit all your relevant particulars and ur current total income proof...i dont think any agent will have any of these documents or information, only the buyers themselves have it. So, who do u think is the best person to apply the HLE? u or the agent?
Thirdly, without the agent who fill in all the details in the option forms, do u think u know how to fill in?
1 thing u have to understand is property agent does not have any fixed salary.... they earn purely on the comm they get....everybody is thinking that agent earn easy money .... but in actual facts, there are so much work they did which u did not see...u cannot judge the work they do on the surface only...

Thats the wrong impression and wrong thinking of buyers who think they can save money if they look for the hse themselves.... becos whether u have a agent representing u or not, end of the day, u still have to pay the 1% comm to the seller agent if u dont have a agent to represent u. So might as well engage a agent to let them do all the work for u....and u still pay them 1% comm. , save all the trouble of calling ard and asking for houses that are available.

Last but not least, if u can afford a hse that is 300k, what is 3k to u? just 1% ONLY!!!...

P/s.... anyway, i am not a housing agent..... i just feel that we shd pay what they shd get becos, when i sell and buy a hse, i pay my agent willingly becos, they help me to settle everything smoothly.....

 

[aIDa81]

Well, i think its not very fair for you to quote that he did not bring you around to view house and he did not source the house for you....1st of all, if he never advertise the house in paper, will you be able to know that there is this house that is for sale . So is this consider sourcing the house for you?
When a seller sells their house, and signed a commission with him, its his job what, if he don’t advertise for the seller, do you think they are able to sell the hse???? Of course this is not consider sourcing hse for me, I look for what I want, not he look for what I need

if he expect us to pay 1% full amt + gst, we also expect him to do all the job for me. From sourcing hses, bring us ard the whole town viewing hses, applying HLE even tho it is as simple as abc.

Thirdly, without the agent who fill in all the details in the option forms, do you think you know how to fill in?Well if you don’t know then learn, so many ppl attend the resale seminar to buy and sell hse, so what makes u think the OTP form is so difficult? Anyway he still have to do for seller.

1 thing you have to understand is property agent does not have any fixed salary.... they earn purely on the comm they get....everybody is thinking that agent earn easy money .... but in actual facts, there are so much work they did which you did not see...you cannot judge the work they do on the surface only
I don’t care if they don’t have a fixed salary they chose to be in the line, then they have to face it. Can u really tell how much they earn? Yesterday straits time this couple agent aiming for 1 million this year?? It shd applies to everybody to work hard then can get money. For my case he is earning easy money, just by processings docs to hdb.

Thats the wrong impression and wrong thinking of buyers who think they can save money if they look for the house themselves.... becos whether you have a agent representing you or not, end of the day, you still have to pay the 1% comm to the seller agent if you dont have a agent to represent you. So might as well engage a agent to let them do all the work for you....and you still pay them 1% comm. , save all the trouble of calling around and asking for houses that are available. The trouble of calling and search is worth it when you can get what you want. So trouble for you but not for some ppl. Well good agents will definitely be opened and flexible with their commission, shd they know what they deserved. Rather than be greedy and take advantage on ppl, esp first time buyers. Whether its wrong or right impression at the end of the day you can only chose to earn a honest living or not.

Last but not least, if you can afford a house that is 300k, what is 3k to you? just 1% ONLY!!!.. Now I ask you for 3K are you able to give me? Ask urself this and my ans is the same. TO you 3K maybe nothing but to some others even myself its still money. So don’t compare, if its really nothing to you then give it to me, I will tell them that you paid on my behalf.

anyway, i am not a housing agent..... i just feel that we should pay what they should get becos, and buy a house, i pay my agent willingly becos, they help me to settle everything smoothly..... Its ok you don’t even have to xplain, whether you are a housing agent or not, you are the first one to agree the agent deserves 1%. I’ve asked him to lower his commission which he decline strongly. I did not say I won’t pay, I will pay the amt he deserved, but of cos not the 1%. You paid them becoz they did everything smoothly for you. YOU ARE YOU. SO DONT THINK OTHERS ARE THE SAME LIKE U.

 

[tinkerball]

Gary, to quote as u said, there's a first time for everything including buying houses. when comes to filling in forms those not in the know will definitely need help for that. if u are saying just by advertising for buyers is enough to justify the commision itself, then why do we need to look up agents in the first place? might as well we source around for the house ourself then fill up our own OTP, AHG, HLE, etc, provided we managed to get a seller unrepresented by any agent.. both sides save on commisions. there are agent who go all out to do everything and that is becos they have a sense of responsibilty towards buyer and it is their job. true HLE is easy as ABC. what about the rest? if everything is so easy why cant the agent do it then? they are the expert at this field.
nobody is saying agent is earning easy money. but with the amount earned dont u think it should justify the work done and not just based on advertising and filling up option forms? true we can afford 300k to buy the house but the 300k IS NOT IN COLD HARD CASH BUT FROM CPF, GRANTS AND HOUSING LOAN. that is what cpf is for in the first place. if we have 300k in cash why need to go for hdb? might as well take landed property. u willing to pay agent cos evrything is settled smoothly. but remember not every buyers get this privilege.

 

[aIDa81]

tinkerbell... for 1st appt, we just bring what they stated in the letter like nric, parents mrg cert, we still have to provide them with payslip? as in latest like april or the day we submit HLE?