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nokiaman

Cheated By Housing Agent Pls Help

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Hi all have been cheated by my housing agent pls advise on what i should do. This is my letter to propnex but till now no reply from them my first Appt is 2 Jan 09 PLS advise

Hi,

I would like to seek redress with your company regarding one of ur agent.

Namely Mike Ang or something HP number 96

I sold my current flat at .....by using his services.

We agreed that the 2% charges will be implemented once my falt is sold.

We were ask to sign forms by him by which he explains that it is the procedure before he can proceed. Fair enough, me and my wife we sign on the blank copy given in which he says he will fill it up once we got the selling price of my current flat.

We also agreed that if he can completes my buying as well. I will pay him a seperate 1 % commision.

To our horror after i requested for the OTP which he fails to give to me and all the other forms i had signed, he EMAIL me with a discrepancies in the details. He now says that he is actually charging 2.5% for helping me to sell my house as he had difficulty in finding buyer. This is totally unreasonable behaviour on the part of your company staff.

I am only going to pay him the agreed 2% commission and nothing more.

I am writing to your company first to have this sort out and i am expecting a favourable reply from the company. Failing which, further steps would be taken to seek redress. I can be contacted anytime at

i heard quite a few bad experience with Propnex agents too.My bf who is an agent also faced probs with a few of them.

i think you should contact Propnex and see whether they can help or just blow up the issue to the press then.

 

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Never never sign on a blank piece of paper regardless wat bull they say.

I have been a victim also.

Black and white is what goes in the end if it goes to court.

If amount below 10k, CASE can meditate.

 

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I remember there is a 3-mth or 6-mth contract for any agreement with property agent... if this guy cannot complete the deal within this period, owner is allowed to engage someone else & need not pay him a single cent.

Can we do it this way, just find all excuses to turn down potential buyers, make sure that no sell & buy deal are successful, then you don't need to pay him any agent fee? :unsure:

 

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;););)

I remember there is a 3-mth or 6-mth contract for any agreement with property agent... if this guy cannot complete the deal within this period, owner is allowed to engage someone else & need not pay him a single cent.

Can we do it this way, just find all excuses to turn down potential buyers, make sure that no sell & buy deal are successful, then you don't need to pay him any agent fee? :unsure:

I am looking for a resale flat now, am viewing for some units but no Propnex agent, thanks for all your opinion, must be very careful of the document at that time. ;)

 

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I remember there is a 3-mth or 6-mth contract for any agreement with property agent... if this guy cannot complete the deal within this period, owner is allowed to engage someone else & need not pay him a single cent.

Can we do it this way, just find all excuses to turn down potential buyers, make sure that no sell & buy deal are successful, then you don't need to pay him any agent fee? :unsure:

I don't think we can do that. First, it is immoral..moreover, potential buyers were sourced by them. Imagine the amount of advertisment cost involved when they advertise for your house. Of course, you first need to sign an "Exclusive Authorisation" with them. Most of these "EA" will state the expiry date. But do take note that the "EA" will still be in force even though it has expire unless the owner revoke it by giving 2 weeks' (most practice la...diff companies diff notice period) written notice to the Broker or his company in advance.

Look out for this clause that says: "The owner agrees to pay the Broker a brokerage fee for services rendered if within three months after the termination of the EA, a sale of the property is made to any persons with whom (whilst the EA was in force) the Broker has had contact with, with a view to effecting a sale."

To be more specific, unless they don't find out. If they found that you had actually sold to a person who they had in contact while the EA is in force, they have the right to demand for the commission.

If you really need to do that, you probably need to tell the buyer to wait for 3 months before buying your house...of course, the buyer may change his mind of buying your house during the course of waiting..this is the risk you have to bear..

 

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;););)

I am looking for a resale flat now, am viewing for some units but no Propnex agent, thanks for all your opinion, must be very careful of the document at that time. ;)

Actually, any realty firms will have black sheeps...most importantly, you have to lookout on what you sign. Most of the agreements and contracts are definitely in their favour (who would draft the agreement which is against their benefit?).

Tell them and stand firm to your requirement beforehand. Try to show them that "hey hey don't con me ok, I know the rules very well" then you should have the upperhand...control them instead of they controling you...you are paying for their commission anyway. Hehe hope those agents out there don't kill me after reading this..

 

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Actually, any realty firms will have black sheeps...most importantly, you have to lookout on what you sign. Most of the agreements and contracts are definitely in their favour (who would draft the agreement which is against their benefit?).

Tell them and stand firm to your requirement beforehand. Try to show them that "hey hey don't con me ok, I know the rules very well" then you should have the upperhand...control them instead of they controling you...you are paying for their commission anyway. Hehe hope those agents out there don't kill me after reading this..

1) Dun deal with Propnex agents who have given very bad service. As far as I know, they will try ALL sorts of ways to make the sellers and buyers move out of their houses as soon as possible. You can private message me for the one whom we had to deal with.

2) Remember to check with your agent whether GST is included in agent's 2% commission. We did not know that agent's commission is GST liable as they work under the company.

 

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1) Dun deal with Propnex agents who have given very bad service. As far as I know, they will try ALL sorts of ways to make the sellers and buyers move out of their houses as soon as possible. You can private message me for the one whom we had to deal with.

2) Remember to check with your agent whether GST is included in agent's 2% commission. We did not know that agent's commission is GST liable as they work under the company.

As long as they are working under a registered company, GST is inevitable as your cheque (commission) is payable to their company and not in the agent's name.

Two ways to tackle with this:

1. Negotiate with the agent to see if they can absord the GST (in most of the cases, quite impossible).

2. Tell the agent to put down 1% on wriitten agreement and tell him that you will pay the other 1% under his name (provided he agree to do so, because he bears the risk of you not honouring your words). In this case, you only need to pay GST for that 1% payable to his company.

Not sure if it works, just my opinion.

 

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As long as they are working under a registered company, GST is inevitable as your cheque (commission) is payable to their company and not in the agent's name.

Two ways to tackle with this:

1. Negotiate with the agent to see if they can absord the GST (in most of the cases, quite impossible).

2. Tell the agent to put down 1% on wriitten agreement and tell him that you will pay the other 1% under his name (provided he agree to do so, because he bears the risk of you not honouring your words). In this case, you only need to pay GST for that 1% payable to his company.

Not sure if it works, just my opinion.

1. Very rarely agents will agree to absorb GST. Unless they 'privately' rebate you once they receive their share of comm from their agency. But you will still have to pay the agreed comm + GST to their agency 1st. Any kind of monetary rebate is a very sensitive issues nowadays, especially now when cash is involved post-sales. But rouge agents don't bother anyway. They do anything just to close sales. Those associated to IEA (Institute of Estate Agents) are more careful with such request as they face penalties if such private agreements turns against them.

2. Professional and ethical agents don't do private agreements because the 2nd 1% comm paid directly to the agents, will not be splitted with their agencies. Even the agent gets the full cut of the 1% comm, they also face enquiries, investigations and a possible termination of service, worst case legal suit, if the agency finds out about such private agreements. But again, rouge agents don't bother and will agree to your proposal if they can reap more $$$. Morally, it is also not right I feel.

 

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End of the day, the choice of Propnex or another agency is person specific. I think not all Propnex agents are "bad" or some agencies produce "good" agents. The market is open now, so buyers and sellers technically have choice in deciding whether to use an agent.

If the seller uses an agent, the agent may want or force you to pay him/ her a commission if you wish to buy the house. If you are the seller and you don't want to use an agent, you may be swamped by agents calling you when you advertise a property for sale. It is not easy for both buyers and sellers not to use agents, unless you have energy and time. The admin work of transacting is not tough, HDB rules and procedures are easily accessible from their website. I find it tough to deal with agents when I plan to sell my property on my own and I find it hard to transact when the other party uses an agent and the agent will not even surface my offer to the owner, without my agreement to pay him/ her a commission.

If you have to use an agent, choose someone who is fairly honest. I think the market has too many agents seeking limited number of buyers and sellers. It is also very tough life to be an agent too.

 

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Hi,

Is there any truth that an agent cannot represent both the buyer and the seller?

Not true, it is actually easier to bargain with regards to the commission since the agent is the sole agent..

 

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Not true, it is actually easier to bargain with regards to the commission since the agent is the sole agent..

hmm... urmm. .. what if the OTP has been signed already? Basically, I am a direct buyer and the agent told us that it's propnex's guideline that buyers pay 1% commission (and GST) and made us signed that during our nego with the seller for lower COV. It was all in a rush so we only realised that there's no hard and fast rule on the 1% later. Wondering if there's still room to nego?

 

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