mr funny
21-06-07, 17:33
June 21, 2007
Drop in commission by property agent should not mean drop in service
AS THE property market is booming, more people will join the ranks of property agents to make a quick buck. However, I wonder if the level of professional service will be the same, even if buyers and sellers are willing to pay a commission for their service.
I have recently completed my resale application for a unit in Sengkang. The agent who serviced me left me wondering how many agents are like him.
According to the Institute of Estate Agents (IEA), the buyer has to pay 1 per cent to the agent for his service. However, my agent was willing to lower his commission to help his brother sell the flat quickly. He also asked us to give up our agent who recommended us to the flat because he had an argument with her.
Before signing the option to purchase (OTP), he made several promises to us, including allowing us to bring the contractor after the OTP was sign and driving us to HDB Hub for our two appointments as we have three children and no car. His sincerity persuaded us to sign on the dotted line.
However, then things started to change. The things he promised were not delivered. After the second appointment, he did not even tell us the owner had kept the letterbox keys. Even worse, the house was full of defects that were not easily spotted during the final inspection.
One may wonder: Since I am paying less commission, am I asking too much? Let me put it this way. If you go to a fast-food restaurant and only buy a drink that costs $2, do you expect less service than someone who buys a $10 meal?
Corresponding with the agent's agency was futile as they were only interested in collecting my commission and only believed their agent's words.
I wonder if there any way to register our complaints other than with the IEA, and how the IEA protects people like us.
Chong Wei Yu
Drop in commission by property agent should not mean drop in service
AS THE property market is booming, more people will join the ranks of property agents to make a quick buck. However, I wonder if the level of professional service will be the same, even if buyers and sellers are willing to pay a commission for their service.
I have recently completed my resale application for a unit in Sengkang. The agent who serviced me left me wondering how many agents are like him.
According to the Institute of Estate Agents (IEA), the buyer has to pay 1 per cent to the agent for his service. However, my agent was willing to lower his commission to help his brother sell the flat quickly. He also asked us to give up our agent who recommended us to the flat because he had an argument with her.
Before signing the option to purchase (OTP), he made several promises to us, including allowing us to bring the contractor after the OTP was sign and driving us to HDB Hub for our two appointments as we have three children and no car. His sincerity persuaded us to sign on the dotted line.
However, then things started to change. The things he promised were not delivered. After the second appointment, he did not even tell us the owner had kept the letterbox keys. Even worse, the house was full of defects that were not easily spotted during the final inspection.
One may wonder: Since I am paying less commission, am I asking too much? Let me put it this way. If you go to a fast-food restaurant and only buy a drink that costs $2, do you expect less service than someone who buys a $10 meal?
Corresponding with the agent's agency was futile as they were only interested in collecting my commission and only believed their agent's words.
I wonder if there any way to register our complaints other than with the IEA, and how the IEA protects people like us.
Chong Wei Yu