"Exclusive Agent" VS "open listing"

[DC33_2008]

Yes, they are very willing. I get it within minutes but the valuation may not be accurate or high enough. For low valuation, no brainer, no need to ask for it. Perhaps they are trying very hard to give you the valuation that you want.

Few hours is better than a few minutes. I do not need them if it is few minutes. I would be able to do it myself by looking at the transaction around the area using the SISV or streetsine system. Valuation is always an estimate. Even if you willing to pay and ask a qualified valuer to conduct a valuation, they will ask you for what purpose as there is a buffer to work within. For example valuation for home loan may be different from a property for gift of property. Bank with the aid of the valuation company should be rather conservative in the estimate as they will have to act based on this if you have decided to take a loan from them.

[kane]

never ever go exclusive with an agent unless that agent is your very good friend who will never sell you out on the cheap.

without your property, they have no business. You're actually the one providing capital for them to operate a viable business.

[Condorich]

never ever go exclusive with an agent unless that agent is your very good friend who will never sell you out on the cheap.

without your property, they have no business. You're actually the one providing capital for them to operate a viable business.

Very good advice indeed... very good advice indeed.

How about this to reinforce the message? Exclusive to agent, and agent has a offer from a direct buyer. No one in the world knows except the agent. Agent then pretends that no one is interested in buying and get his friends or other agents to make the lowest possible offer for the buyer to grant him/her the option. Then with that option granted, just a 1% to start the ball rolling, they immediately offer the option to the real buyer and chase them to exercise, option period is also likely to be shortened to less than 14 days if they can.

Some work on Sat by midnight and date the first option on Sunday or Monday, very likely since they are the ones who fill up the option form for you. This is to enable them to deliver to the real buyer on Sat and have the full period mapped directly. Nobody would smell a rat. Unless the ownership is checked. For a project under TOP.. heh heh, good luck!

Next is to pester and chase the original direct buyers to exercise their options, one thing that they will do by 12,13 or even 14 days. Then once they have obtained confirmation that the buyers exercised. Its jackpot!!!! usually more than $50k for them. 1 day work and no capital involved at all. But the returns? The dirty secret for the trade. Shame on those! Will never allow exclusive again. Might even do it on my own since it is actually quite easy to do on your own.

[kane]

Very good advice indeed... very good advice indeed.

How about this to reinforce the message? Exclusive to agent, and agent has a offer from a direct buyer. No one in the world knows except the agent. Agent then pretends that no one is interested in buying and get his friends or other agents to make the lowest possible offer for the buyer to grant him/her the option. Then with that option granted, just a 1% to start the ball rolling, they immediately offer the option to the real buyer and chase them to exercise, option period is also likely to be shortened to less than 14 days if they can.

Some work on Sat by midnight and date the first option on Sunday or Monday, very likely since they are the ones who fill up the option form for you. This is to enable them to deliver to the real buyer on Sat and have the full period mapped directly. Nobody would smell a rat. Unless the ownership is checked. For a project under TOP.. heh heh, good luck!

Next is to pester and chase the original direct buyers to exercise their options, one thing that they will do by 12,13 or even 14 days. Then once they have obtained confirmation that the buyers exercised. Its jackpot!!!! usually more than $50k for them. 1 day work and no capital involved at all. But the returns? The dirty secret for the trade. Shame on those! Will never allow exclusive again. Might even do it on my own since it is actually quite easy to do on your own.

the hassle of doing your own is you must be ready to keep receiving calls. that could be quite a pain...

[Condorich]

I have been doing this and got valuation estimate within few hours from a few banks. I am not boasting as I am just stating the fact. Bank needs our money and should be keen to give us valuation.

Yes.

I was not referring to you. No worries. As you said, they are more stringent when you are more serious. When you are just asking for fun, they give you the lowest valuation possible. Sometimes, the internet valuation is better.

[Condorich]

the hassle of doing your own is you must be ready to keep receiving calls. that could be quite a pain...

Yes, agreed... almost like a part time agent.

Anyway if you have a secretary, ask the secretary to handle. Take down buyers name and contact and follow up thereafter yourself when you are free, from a private line. If not, have them call a number and ask them to leave a voice message. Attend to them when you are home and in the night. Those who call are likely to be property agents anyway.

Do a secret website with all the info required for the sale. Direct the agent or the buyer to that web site. Best if access protect.

If still under construction, no need viewings at all.

If completed, check minimum offer before arranging for site viewing.

In that way, you can put in a few hours for maximum returns. Of course you don't have to do it this way, there are other better ways which I shall leave it for the rest to figure or share if they want to.

[kane]

The other way is use 2-3 trusted agents and be very clear in your own mind what is the price that you are looking to sell.

[jsh]

The other way is use 2-3 trusted agents and be very clear in your own mind what is the price that you are looking to sell.

What about selling properties through auctions . Any views. In Australia a high percentage of properties are sold through auctions . Its a more open process.

[Condorich]

What about selling properties through auctions . Any views. In Australia a high percentage of properties are sold through auctions . Its a more open process.

It is a possibility and indeed done so. But one thing is the stigma. Unless your property is in very good demand, I would advise you not to as auctions usually means Bankrupt sale to most. But there are some best buys only available through Auctions and are not Bankrupt sales. Simply because the owners wanted the highest possible offer within a short period of time for their prized property.

[jlrx]

You will not experience any of the above problems if you don't sell your properties.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

Hence in the first place if you don't sell your properties, you will not experience any of the above-mentioned problems.

Let the seller worry about the commissions and so on.

This is yet another advantage of PROPERTISM.

[Condorich]

You will not experience any of the above problems if you don't sell your properties.

PROPERTISM Rule No. 1 - Property prices always go up in the long term hence properties should only be bought and not sold.

Hence in the first place if you don't sell your properties, you will not experience any of the above-mentioned problems.

Let the seller worry about the commissions and so on.

This is yet another advantage of PROPERTISM.

I agree with you.... especially HDB..... once sold... hard to get now.

But private condo are good and

Landed are the Best!~

Buy and don't sell... use rental to finance itself plus other income... sell only when you want to relax and have a fine life.

[sencha99]

Yes, agreed... almost like a part time agent.

Anyway if you have a secretary, ask the secretary to handle. Take down buyers name and contact and follow up thereafter yourself when you are free, from a private line. If not, have them call a number and ask them to leave a voice message. Attend to them when you are home and in the night. Those who call are likely to be property agents anyway.

Do a secret website with all the info required for the sale. Direct the agent or the buyer to that web site. Best if access protect.

If still under construction, no need viewings at all.

If completed, check minimum offer before arranging for site viewing.

In that way, you can put in a few hours for maximum returns. Of course you don't have to do it this way, there are other better ways which I shall leave it for the rest to figure or share if they want to.

If you have time to do all this, you definitely don't need to engage an agent.

[Regulators]

selling condo so much easier, shorter and straightforward than selling hdb. hdb has all the crap appointments in toa payoh but for condo, once otp is signed, the lawyer handles everything from there. the only time you see the buyer is when signing otp, after that, you don't get to see the buyer at all.