How Do You Decide Your Cov Price...

[blueriverview 0]

moral of the story...never believe agents! How different are they from car salesman?

[Velarine 0]

I come across this situation!! **** angry! I once view a flat and state I am a buyer, the agents let me view the flat( prime location)and let his colleague service me,after viewing,I told his colleague I dun need a agent as I'm asking my aunt who is a agent to do it for me. I like the unit and the COV price is ok to me. The agent won't want to commit a deal and said wait for the valuation to come out. So I told him pls call me once the valuation report comes out. After two weeks I call him,he told me the unit had been sold off. He didn't call me juz becos I didn't used his colleague as my agent. I told my aunt,she told me if i used his colleague,this agent can draw 50% from his colleague which is half percent,he gets 1 percent from the owner! No wonder his face changed when I told him I got my own agent!

[Velarine 0]

This is so true before the new rule cos the agent can earn total of 3% commission from both sellers and buyers but now they can't. So they will work with their colleage to act as buyer's agent.

In nowadays, do seller's still pay 2% com or negotiable??

[edlis70 0]

This is so true before the new rule cos the agent can earn total of 3% commission from both sellers and buyers but now they can't. So they will work with their colleage to act as buyer's agent.

In nowadays, do seller's still pay 2% com or negotiable??

There are alot of agent out there that will offer his service to sell your house at 1% comms. Unless the agent provide wonderful service and you don't paying more.

[MrsLoo 1]

There are alot of agent out there that will offer his service to sell your house at 1% comms. Unless the agent provide wonderful service and you don't paying more.

Not only that, I also first get to know that if u pay comm to the company, u need to pay additional 7%, but if pay to agent directly then no need 7% gst. Actually, I think commission should not include GST, agent already earn 2% from us , then add another 7%. For my flat, it's easy job for agent becos my location is gd, she no need to advertise, within her network already got potential buyer.

[Batman 0]

Just buy private lor. Dun need to worry anything about COV. COV?? what's that? Can eat or not?

Best part is buyer dun even need to pay any comm. Just bring cheque book, go viewing, like it then offer 1% on-the-spot.

Only thing that u need to know is whether got any bank to match the asking price that seller wants.

[filtergure 0]

Tats oso the reason why I dun wish to go through agent to buy.

I deal directly with the seller's agent, lesser cov manipulation.

no need to engage buyer agent..save the money for your furniture.

set your budget for COV, offer within your budget, don't follow the sentiment...

even u like the house, don't show it on your face...this is my experience. :-)

[therat 18]

Not only that, I also first get to know that if u pay comm to the company, u need to pay additional 7%, but if pay to agent directly then no need 7% gst. Actually, I think commission should not include GST, agent already earn 2% from us , then add another 7%. For my flat, it's easy job for agent becos my location is gd, she no need to advertise, within her network already got potential buyer.

Your understand is all wrong.

The 2 % commission you pay. NOT all 2% belong to the agents. The Company Took some est 30-40%. The rest then goes to Agent.

And agent will only collect this money, est 2 mth after you pay the commission.

As for the 7%, if you don't pay. The agent has to pay for you.

Eg.

You pay $4000 commission and don't want to pay GST

The company took 30% of $4000. $1200

Balance = $2800

As you didn't pay the GST, the agent has the pay for you - 7% of $4000 = $280

The agent only receive $2800-$280 = $2520 --> 2 -3 mths later

You might say $2520 is alot.

Let me ask you.

CEA register no need money?

Property guru membership no need money?

All the time and effort , transportation. FREE?

They no need to feed their family?

They no need to pay CPF - medisave?

Don't forget.

They don't have annual leave.

They don't have medical leave

They sick, they see doctor. They cannot claim from the company.

THEY don't have CPF contribution - 16% from employer

Not all property agent earning BIG money.

[Bento28 0]

Your understand is all wrong.

The 2 % commission you pay. NOT all 2% belong to the agents. The Company Took some est 30-40%. The rest then goes to Agent.

And agent will only collect this money, est 2 mth after you pay the commission.

As for the 7%, if you don't pay. The agent has to pay for you.

Eg.

You pay $4000 commission and don't want to pay GST

The company took 30% of $4000. $1200

Balance = $2800

As you didn't pay the GST, the agent has the pay for you - 7% of $4000 = $280

The agent only receive $2800-$280 = $2520 --> 2 -3 mths later

You might say $2520 is alot.

Let me ask you.

CEA register no need money?

Property guru membership no need money?

All the time and effort , transportation. FREE?

They no need to feed their family?

They no need to pay CPF - medisave?

Don't forget.

They don't have annual leave.

They don't have medical leave

They sick, they see doctor. They cannot claim from the company.

THEY don't have CPF contribution - 16% from employer

Not all property agent earning BIG money.

Ya, wat Therat stated is the actual breakdown.

But I did my sales for my housing by myself. I save 14k which is some people two to three months pay.

So u decide. The hassle-free agent service or troublesome DIY.

[bepgof 20]

Mathematically, HDB resale price follows the ideology of

y= mx + c

Where

y=resale price, from HDB database

mx= valuation

m = multiplier effect/factor = location,amenity, urban, matured.....

x = psf+ fl height+ fs+....all the human subjective factors

c=constant=COV

c=y-mx = COV

You can create a spreadsheet with abv variable input selection tables, u can find the c, within a few clicks.

[radha08 1]

Ya, wat Therat stated is the actual breakdown.

But I did my sales for my housing by myself. I save 14k which is some people two to three months pay.

So u decide. The hassle-free agent service or troublesome DIY.

well done....those agents dont deserve to earn...