Confessions Of A Property Agent

[TheOnlyGayInTheVillage]

1. I mislead the seller in thinking there is lots of interest in his listing when theres none

2. I tell the seller, prospective buyer has the budget lower than what he actually advised

3. I lead the buyer to believe that the seller will not budge on the asking price

4. I nitpick on aspects of the property to the seller to tamper expectation

5. I turn bad points into advantages to convince the buyer of good value

6. I tell the other agent the owner give me exclusive when in reality i dont want to cobroke

7. I lie to the tenant that the landlord not willing to nego because i want higher comms

8. I tell the seller/landlord i cant make it for the appointment, please show the place yourself, as am stuck in traffic/another viewing/hospital emergency/fell sick when i actually just lazing at home

9. I bring ONS back and use the aircon and water and TV etc in the unit like a hotel, whose keys the seller/landlord has entrusted me to show for viewing

10. I advise my clients on competitive pricing and rental yields of comparable units/projects in the vicinity based just on hearsay without personally verifying it

(c) TOGitV

[Sleepyhead]

Scums!

One of the most hated professions out there. Same all over the world.

[kane]

Does point 9 really happen? There's probably no bed or bedsheet, how to ons?

[Hiroaki27]

Scums!

One of the most hated professions out there. Same all over the world.

AGREE

But it is the stupidity of their clients that make the agents so daring.

[NorthernStar]

Does point 9 really happen? There's probably no bed or bedsheet, how to ons?

It happened before in Singapore. Remember the Singapore Edison Chen?

[NorthernStar]

Point 2. I guess agent help buyer more right. Why they want to qoute lower budget if buyer?

My case: friend intro an agent to me by knowing that she got an unit looking for buyer for 720K. She didn't know my friend had told me the price asking. So, she quoted me 800K after knowing my budget max is 800K!!!

[kane]

It happened before in Singapore. Remember the Singapore Edison Chen?

Then best to cut the water supply as well. See how the agent can do ons in such a venue.

[TKT]

Trustworthy, knowledgeable and reliable agents will be wonderful assets in enhancing your property investment journey.

Look at it positively instead of thinking at it negatively.
Nobody and nothing is for free in this world, so always strive for win-win.

You cannot do it alone.

[Laguna]

I am thinking hard to be an agent, but been trying out these two weeks. Let me sharing my findings.

1. There are agents making superb good money, in the region of >$400,000 a month, but majority hardly can make a living.

2. This is a rather unproductive work in arranging for viewing. If u call from the listing from PropertyGuru or Streetsine, the listings are >95% obsolete or duplicate, or dummy.

3. Most of the agents I met over these few years, are just selling or buying without much of indepth knowledge of property market.

4. A lots of agents cannot present themselves well.

5. Most of them need to make a living as there is no other employment opportunities other than as a taxi driver.

Also I agree that there are agents wearing many masks.

[august]

Does point 9 really happen? There's probably no bed or bedsheet, how to ons?

some owners are foreigners and overseas and entrust everything to agent.

[radha08]

Confessions of a property agent should be..."Father i have sinned please forgive me"...

[Blue]

I heard some junior female agents have to sleep with the senior male agents in order to partner with them!

And I wouldn't be surprised if an agent will agree to go on a holiday with the seller if she gets an exclusive deal to market his GCB. $20M deal is worth $400K (2% comm).

[jesico]

>$400,000 a month income, i.e. $4.8 million a year?! really ah?

I am thinking hard to be an agent, but been trying out these two weeks. Let me sharing my findings.

1. There are agents making superb good money, in the region of >$400,000 a month, but majority hardly can make a living.

2. This is a rather unproductive work in arranging for viewing. If u call from the listing from PropertyGuru or Streetsine, the listings are >95% obsolete or duplicate, or dummy.

3. Most of the agents I met over these few years, are just selling or buying without much of indepth knowledge of property market.

4. A lots of agents cannot present themselves well.

5. Most of them need to make a living as there is no other employment opportunities other than as a taxi driver.

Also I agree that there are agents wearing many masks.

[Blue]

I am thinking hard to be an agent, but been trying out these two weeks. Let me sharing my findings.

1. There are agents making superb good money, in the region of >$400,000 a month, but majority hardly can make a living.

2. This is a rather unproductive work in arranging for viewing. If u call from the listing from PropertyGuru or Streetsine, the listings are >95% obsolete or duplicate, or dummy.

3. Most of the agents I met over these few years, are just selling or buying without much of indepth knowledge of property market.

4. A lots of agents cannot present themselves well.

5. Most of them need to make a living as there is no other employment opportunities other than as a taxi driver.

Also I agree that there are agents wearing many masks.

It comes with a price. Are you willing to open your legs for a $400K commission?

[Sleepyhead]

Then best to cut the water supply as well. See how the agent can do ons in such a venue.

My relative's experience: Gave keys to agent who wants to do second viewing to a local woman (first viewing, owner went together). Before anything, woman moved in already. She was in cahoots with agent.
Agent kept promising will get the contract signed and payments collected. Empty promises.... after few weeks, nothing.

Owner tried to take action, woman changed the locks, get a big & fierce dog, owner cannot go in.

Owner cut off electricity & water, woman used candles and water from poolside tap.

Owner called police, police dowan to get involved.

Agent went MIA after that... cannot find her anymore.

Then how?

This went on for 6 months!!

Finally woman moved out after much threatening & arguing & stress!

[Komo]

surprised that police does not want to get involved...isn't this daylight roberry

My relative's experience: Gave keys to agent who wants to do second viewing to a local woman (first viewing, owner went together). Before anything, woman moved in already. She was in cahoots with agent.
Agent kept promising will get the contract signed and payments collected. Empty promises.... after few weeks, nothing.

Owner tried to take action, woman changed the locks, get a big & fierce dog, owner cannot go in.

Owner cut off electricity & water, woman used candles and water from poolside tap.

Owner called police, police dowan to get involved.

Agent went MIA after that... cannot find her anymore.

Then how?

This went on for 6 months!!

Finally woman moved out after much threatening & arguing & stress!

[Komo]

... saw agent and friends having a great time on the balcony over the weekend in the landed next door

[TheOnlyGayInTheVillage]

Then best to cut the water supply as well. See how the agent can do ons in such a venue.

Why not. Never heard of wet tissue?

If pple can do in cars, this is nothing... In any case the condo complex will have toilet by the pool or gym for quick wash up.

[TheOnlyGayInTheVillage]

Confessions of a property agent should be..."Father i have sinned please forgive me"...

Ya la. Am listing out what they say after that opening line.... Duh

[TheOnlyGayInTheVillage]

Point 2. I guess agent help buyer more right. Why they want to qoute lower budget if buyer?

My case: friend intro an agent to me by knowing that she got an unit looking for buyer for 720K. She didn't know my friend had told me the price asking. So, she quoted me 800K after knowing my budget max is 800K!!!

Pt 2 is the sellers agent saying. Better to temper the seller expectation get him or her to drop asking price and close the deal fast then dilly dally or lose to another agent the deal. Comms wise rarely a huge diff in quantum.

[TheOnlyGayInTheVillage]

I am thinking hard to be an agent, but been trying out these two weeks. Let me sharing my findings.

1. There are agents making superb good money, in the region of >$400,000 a month, but majority hardly can make a living.

2. This is a rather unproductive work in arranging for viewing. If u call from the listing from PropertyGuru or Streetsine, the listings are >95% obsolete or duplicate, or dummy.

3. Most of the agents I met over these few years, are just selling or buying without much of indepth knowledge of property market.

4. A lots of agents cannot present themselves well.

5. Most of them need to make a living as there is no other employment opportunities other than as a taxi driver.

Also I agree that there are agents wearing many masks.

To mitigate some of the inefficiencies you mentioned, it should be run like a business or small startup. Form a team of 3.

One takes charge of marketing, leads generation and answering queries and scheduling of appointments. Must be good at time management and proactive and resourceful. [HUNTER]

Another conducts the viewings and leg work, this one is the one good at sales pitch and need to have the finger on the pulse of the scene and the market. Looks that can rival Korean star wont hurt as well. [GATHERER]

The last one does all the paperwork and document for closing. Good at details and meticulous. [ADMINISTRATOR]

Earnings to be split according to pre-agreed proportion depending on market situation. Eg in bull market lots of activity, higher percentage to go to 1 and 3. Slow market, higher goes to 2 for closing.

[TheOnlyGayInTheVillage]

I heard some junior female agents have to sleep with the senior male agents in order to partner with them!

And I wouldn't be surprised if an agent will agree to go on a holiday with the seller if she gets an exclusive deal to market his GCB. $20M deal is worth $400K (2% comm).

This is masak masak (childs play) vs the alleged Ziyi Zhang case(s).

[TheOnlyGayInTheVillage]

My relative's experience: Gave keys to agent who wants to do second viewing to a local woman (first viewing, owner went together). Before anything, woman moved in already. She was in cahoots with agent.
Agent kept promising will get the contract signed and payments collected. Empty promises.... after few weeks, nothing.

Owner tried to take action, woman changed the locks, get a big & fierce dog, owner cannot go in.

Owner cut off electricity & water, woman used candles and water from poolside tap.

Owner called police, police dowan to get involved.

Agent went MIA after that... cannot find her anymore.

Then how?

This went on for 6 months!!

Finally woman moved out after much threatening & arguing & stress!

Not to worry... I have lots of time. Can harass the tenant non stop 24/7. Got lots of dog poo nowhere to use also. Most agents have no incentive to do that now that CEA controls them centrally and can bar them. Not like its a GCB and the tenant gave him $500k to do that.

[dtrax]

agents not easy, i actually bo liao enough to sign up as agent, see the tactics they use, took the CEA test, go on-site hyping and live new launch to experience the work of an agent.. really buay tahan. You muz be damn motivated and damn hunger for $$$$ to succeed + some sincerity & decent property knowledge [boobs not counted].... no joke

[TheOnlyGayInTheVillage]

agents not easy, i actually bo liao enough to sign up as agent, see the tactics they use, took the CEA test, go on-site hyping and live new launch to experience the work of an agent.. really buay tahan. You muz be damn motivated and damn hunger for $$$$ to succeed + some sincerity & decent property knowledge [boobs not counted].... no joke

Every agent runs their own business. This business is far more complicated than a taxi drivers. Most businesses fail with average effort. For real estate, other than luck and 人缘, you need to be really good at what you do and love it. Many successful agents i got to know are always on standby 24/7 and their contact numbers always open and on for business, and any time you call them, they will always have a professional tone and never ever rude nor showing disinterest. If they cant answer your query, they will research and find out and get back to you within a day. If they still cant serve your needs, they will make sure they find somebody who can within 3 days. They are also extremely good at follow up without being intrusive. Working with them makes you feel like a King even though they are way far more rich than you can ever be. Mind you i am talking about those already made their multi millions, not n00bs.

[dtrax]

Every agent runs their own business. This business is far more complicated than a taxi drivers. Most businesses fail with average effort. For real estate, other than luck and 人缘, you need to be really good at what you do and love it. Many successful agents i got to know are always on standby 24/7 and their contact numbers always open and on for business, and any time you call them, they will always have a professional tone and never ever rude nor showing disinterest. Mind you i am talking about those already made their multi millions, not n00bs.

yeah these r the people i truly respect in the real-estate industry, it is already their business and they work professionally

[House]

Does point 9 really happen? There's probably no bed or bedsheet, how to ons?

it happened....from the horse mouth - security guard at XXXXX Edge

11pm. one young agent together with a young lady walk into the condo and when the security guard ask nicely where they are going to, agent yaya papaya telling off the security guard that the unit he is going to belongs to his aunty and he has the keys.

security guard buey song and called the owner the next morning - your nephew came in with a young lady and left in the morning.

owner : " what nephew? I dont have any nephew!"

_______________________________________

whatever happened next - nobody knows till today but you can always use your imagination

[zzz1]

I heard some junior female agents have to sleep with the senior male agents in order to partner with them!

And I wouldn't be surprised if an agent will agree to go on a holiday with the seller if she gets an exclusive deal to market his GCB. $20M deal is worth $400K (2% comm).

really? to sleep in order just to be partner ?

think more like a willing parties

[zzz1]

This is masak masak (childs play) vs the alleged Ziyi Zhang case(s).

her case is only the exclusive and Privileged have it...is not about the money

[zzz1]

it happened....from the horse mouth - security guard at XXXXX Edge

11pm. one young agent together with a young lady walk into the condo and when the security guard ask nicely where they are going to, agent yaya papaya telling off the security guard that the unit he is going to belongs to his aunty and he has the keys.

security guard buey song and called the owner the next morning - your nephew came in with a young lady and left in the morning.

owner : " what nephew? I dont have any nephew!"

_______________________________________

whatever happened next - nobody knows till today but you can always use your imagination

stupid agent... just say got viewing la...most of the time the security are sleeping ..