Results 1 to 17 of 17

Thread: Horrible property agent

  1. #1
    Senior Member UncleFai's Avatar
    Join Date
    Mar 2010
    Location
    Singapore
    Posts
    4,429

    Default Horrible property agent

    One of my relatives interested in buying a HDB flat. I decided to kay-poh along. She saw an ad on the newspaper for one and decided to view the house. The ad said explicitly "no buyer agent please". Fine... she has a very good friend who is an agent and said that she will render all assistance at zero cost so that my relative can execute the purchase on her own.

    So went to see the house. We were welcomed by the seller's agent. Everything went well and she decided to buy the flat.

    Just before signing the option, the seller agent said "by the way, I am representing you and you need to pay me 2% agent fee hor." We were shocked. Apparently, he wants to have his friend represent the seller and he represent my relative. My relative was disguisted by this and absolutely insists on "no buyer agent". He then called and said "oh, seller don't want to sell already". No idea what he told the owner but the deal was off.

    Absolutely pissed. Is this even permissible?

  2. #2
    Senior Member edutilos-'s Avatar
    Join Date
    Dec 2010
    Location
    The Universe
    Posts
    5,991

    Default Re: Horrible property agent

    I am not sure about these things or what "No Buyers Agent" means, but if you are unhappy you can possibly give feedback to the agent's company, or CEA: CEA - Council for Estate Agencies

    Cheers.

  3. #3
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,681

    Default Re: Horrible property agent

    Quote Originally Posted by UncleFai View Post
    One of my relatives interested in buying a HDB flat. I decided to kay-poh along. She saw an ad on the newspaper for one and decided to view the house. The ad said explicitly "no buyer agent please". Fine... she has a very good friend who is an agent and said that she will render all assistance at zero cost so that my relative can execute the purchase on her own.

    So went to see the house. We were welcomed by the seller's agent. Everything went well and she decided to buy the flat.

    Just before signing the option, the seller agent said "by the way, I am representing you and you need to pay me 2% agent fee hor." We were shocked. Apparently, he wants to have his friend represent the seller and he represent my relative. My relative was disguisted by this and absolutely insists on "no buyer agent". He then called and said "oh, seller don't want to sell already". No idea what he told the owner but the deal was off.

    Absolutely pissed. Is this even permissible?
    For what i understand no buyer agent meaning they do not want agents to call them they only want direct buyers so they can get commission from buyer. and it doesn't mean buyer no need to pay comm.

    Should have check with the agts regarding the need to pay for the service before proceeding.

    Even need to pay comm is only 1% not 2% like the agt said.

    From my point of view, is agt not willing to sell as u all not willing to pay comm, not owner not selling. My guess that the house is still available for viewing. If you were to tell him u pay comm my guess is he will say oh owner decided to sell!

    If you want get someone to pose as buyer and call the agt see if he will arrange for viewing or go straight to the owner house and ask what is going on why he not selling... expose the agents to the owner see what he says if he really not selling? Before exposing maybe you want to find out if the owner and agt is related or not.
    With all these done record them down then file the case to the CEA.

    This agt is really a .... report him to CEA as edutilos- suggested see what they say.

    Although i am also in this line, not siding anyone but just hate this kind of black sheep in this industries smeering the name of agts!


    ps: dun say i teach u what to do hor!
    Last edited by melvin; 28th February 2012 at 12:58 PM.

  4. #4

    Default Re: Horrible property agent

    buyer pay 1% not 2%, seller is 2%.

    but wanna report, better have some proofs as evident.....
    Eat breath LIVERPOOL!!!

  5. #5
    Senior Member UncleFai's Avatar
    Join Date
    Mar 2010
    Location
    Singapore
    Posts
    4,429

    Default Re: Horrible property agent

    Sorry if I got the commission percentage wrong.

    But what disguisted me was that the new regulations are meant to ensure that the buyer's agent is to act to the benefit of the buyer, and the seller's agent is to see to the benefits of the seller. This idiot saw to neither's benefit but himself. And I know of several cases also like that... the buyer and seller agents are in cahoot, "friend friend" deal. Loophole in the regulations leh.

    Anyway, my relative decided "ok lor, move on". Since I am not the buyer, cannot go any further.

  6. #6

    Default Re: Horrible property agent

    That greedy agent wants to "eat" both side - seller and buyer.
    Kent Wong Photography |Leica Q & Leica M-P 240 | 75 & 28mm Summilux

  7. #7

    Default Re: Horrible property agent

    i thought it always work this way ?
    lol

  8. #8
    Senior Member edutilos-'s Avatar
    Join Date
    Dec 2010
    Location
    The Universe
    Posts
    5,991

    Default Re: Horrible property agent

    Quote Originally Posted by UncleFai View Post

    But what disguisted me was that the new regulations are meant to ensure that the buyer's agent is to act to the benefit of the buyer, and the seller's agent is to see to the benefits of the seller. This idiot saw to neither's benefit but himself. And I know of several cases also like that... the buyer and seller agents are in cahoot, "friend friend" deal. Loophole in the regulations leh.
    To be fair there will be no perfect solution to avoid this.

    You may wish to note some threads that I found when trying to find out what "No Buyer Agent" means. Not sure if the context is updated, though.

    complaint - real estate agents singapore | Singapore Property Discussions | Singapore Expat Forums | AsiaXPAT.com
    Why Agents Are Scum: An Economic Perspective on Renting in Singapore | Josh Reviews Everything

  9. #9

    Default Re: Horrible property agent

    Quote Originally Posted by edutilos- View Post
    To be fair there will be no perfect solution to avoid this.

    You may wish to note some threads that I found when trying to find out what "No Buyer Agent" means. Not sure if the context is updated, though.

    complaint - real estate agents singapore | Singapore Property Discussions | Singapore Expat Forums | AsiaXPAT.com
    Why Agents Are Scum: An Economic Perspective on Renting in Singapore | Josh Reviews Everything
    can't remember clearly, but weren't there were some new laws drafted and signed, and that many agents were fired last year or 2010 for unscrupulous behavior?

  10. #10
    Senior Member edutilos-'s Avatar
    Join Date
    Dec 2010
    Location
    The Universe
    Posts
    5,991

    Default Re: Horrible property agent

    http://www.cea.gov.sg/cea/content/bi...ons%202010.pdf

    I refer to the Code of Ethics starting from page 9, specifically point 6 on page 10 bottom [I would think that subpoint (3) is most applicable here since you have not engaged said person as your agent - that said, please don't take my word for it, I am not legally trained - just trying to give you some information]:

    General duty to clients and public
    6.—(1) Estate agents and salespersons shall render professional and conscientious service to their clients and shall act with honesty, fidelity and integrity.
    (2) Sub-paragraph (1) means, among other things, that estate agents and salespersons —
    (a) must act according to the instructions of the client and protect and promote the interests of the client, unaffected by the interests of the estate agent, salesperson or any other person;
    (b) must not mislead the client or provide any false information or misrepresent any relevant law or fact to the client;
    (c) must keep the client informed of any material or relevant development or issue in respect of the property of the client;
    (d) must not withhold any relevant fact or information from the client; and
    (e) must not act against the interests of the client in any manner, including collaborating in any form or manner with any other person.
    (3) In the conduct of estate agency work on behalf of the client, the estate agent or salesperson must act ethically, honestly, fairly and in a reasonable manner towards all other persons.
    Section 42 of the Estate Agents Act (see here) states that:

    Codes of practice, ethics and conduct
    42.—(1) The Council may prescribe or issue and publish one or more codes of practice, ethics and conduct under whatever name for estate agents or salespersons or for both estate agents and salespersons.
    (2) A failure to observe a provision of any code that is prescribed or issued and published under subsection (1) may render the estate agent, the salesperson or both the estate agent and salesperson liable to disciplinary action.
    You may wish to refer to the CEA's website here on all the relevant legislation and subsidiary legislation, it may glean some idea of what estate agents are supposed to do and not supposed to do, and see if your grievances are valid in the eyes of the law: CEA - Estate Agents Act

    Information on making complaints to CEA: CEA - Making a Complaint

    Relevant FAQ: CEA - CEA - Council for Estate Agencies

    Hopefully this will be of help. Remember, getting angry helps no one, not even yourself. Cheers.
    Last edited by edutilos-; 28th February 2012 at 03:17 PM.

  11. #11
    Senior Member edutilos-'s Avatar
    Join Date
    Dec 2010
    Location
    The Universe
    Posts
    5,991

    Default Re: Horrible property agent

    Quote Originally Posted by butlerana View Post
    Oh, thank God I can grow a beard and am uninterested in picking up other men on message forums!

    These bots are getting more and more win.

  12. #12

    Default Re: Horrible property agent

    Quote Originally Posted by melvin View Post
    For what i understand no buyer agent meaning they do not want agents to call them they only want direct buyers so they can get commission from buyer. and it doesn't mean buyer no need to pay comm.

    Should have check with the agts regarding the need to pay for the service before proceeding.

    Even need to pay comm is only 1% not 2% like the agt said.

    From my point of view, is agt not willing to sell as u all not willing to pay comm, not owner not selling. My guess that the house is still available for viewing. If you were to tell him u pay comm my guess is he will say oh owner decided to sell!

    If you want get someone to pose as buyer and call the agt see if he will arrange for viewing or go straight to the owner house and ask what is going on why he not selling... expose the agents to the owner see what he says if he really not selling? Before exposing maybe you want to find out if the owner and agt is related or not.
    With all these done record them down then file the case to the CEA.

    This agt is really a .... report him to CEA as edutilos- suggested see what they say.

    Although i am also in this line, not siding anyone but just hate this kind of black sheep in this industries smeering the name of agts!


    ps: dun say i teach u what to do hor!
    ha, I think I have learn something from u, melvin

    will seek your expertise if I am selling or buying house.

    otc
    Last edited by otc; 28th February 2012 at 08:26 PM.

  13. #13
    Senior Member
    Join Date
    Feb 2005
    Location
    sing
    Posts
    3,353

    Default Re: Horrible property agent

    Probably a misunderstanding by your relative of the term.
    Your relative was right to reject the self-appointing agent.
    But if and when your relative wants to buy a property, it is fair to pay the % commission to his chosen agent (representing him, the buyer) and handling the deal.
    Don't save small money on such big purchases. Many things can go wrong if you don't have a proper agent from a reputable company. Your relative can lose $$$ or have a big mess to sort out if things go wrong.

    Take note: The seller's agent is not your relative's agent.
    Your relative never appointed that person to be his agent. The seller's agent cannot "self-appoint".

    You need to check the legal basis of the seller's agent's claim.
    Can the seller's agent also be the buyer's agent at the same time? Is this breaking the rules? There is a conflict of interest.
    If you confirm this is against the rules, then you need to make an official complaint to CEA.
    Last edited by ricohflex; 28th February 2012 at 11:52 PM.

  14. #14
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,681

    Default Re: Horrible property agent

    Quote Originally Posted by otc View Post


    ha, I think I have learn something from u, melvin

    will seek your expertise if I am selling or buying house.

    otc
    But i think you are far more experience then me in buying or selling!

  15. #15
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,681

    Default Re: Horrible property agent

    Quote Originally Posted by ricohflex View Post
    Probably a misunderstanding by your relative of the term.
    Your relative was right to reject the self-appointing agent.
    But if and when your relative wants to buy a property, it is fair to pay the % commission to his chosen agent (representing him, the buyer) and handling the deal.
    Don't save small money on such big purchases. Many things can go wrong if you don't have a proper agent from a reputable company. Your relative can lose $$$ or have a big mess to sort out if things go wrong.

    Take note: The seller's agent is not your relative's agent.
    Your relative never appointed that person to be his agent. The seller's agent cannot "self-appoint".

    You need to check the legal basis of the seller's agent's claim.
    Can the seller's agent also be the buyer's agent at the same time? Is this breaking the rules? There is a conflict of interest.
    If you confirm this is against the rules, then you need to make an official complaint to CEA.
    Base on CEA guidelines, the same agent cannot be representation of both the seller and buyer at the same time it is = conflict of interest, deemed as dual representation = Fine, Jail term or Fine +Jail term.

  16. #16
    Senior Member UncleFai's Avatar
    Join Date
    Mar 2010
    Location
    Singapore
    Posts
    4,429

    Default Re: Horrible property agent

    Quote Originally Posted by melvin View Post
    Base on CEA guidelines, the same agent cannot be representation of both the seller and buyer at the same time it is = conflict of interest, deemed as dual representation = Fine, Jail term or Fine +Jail term.
    The way the agent I encountered work around it is - although he started with the seller, he wants to sign up as the buyer's agent. Then get a friend to act as seller agent - presumably he will split the commission with that friend.

  17. #17
    Senior Member melvin's Avatar
    Join Date
    Jun 2005
    Location
    TPY
    Posts
    2,681

    Default Re: Horrible property agent

    Quote Originally Posted by UncleFai View Post
    The way the agent I encountered work around it is - although he started with the seller, he wants to sign up as the buyer's agent. Then get a friend to act as seller agent - presumably he will split the commission with that friend.
    Hmmm... new to me!

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •