Reason why owners would not sell their properties themselves

[Gearoil]

With the recent news coming from a High Court case of unethical property agents, why do owners not sell their property themselves.

 

Be it HDB or private.

 

To be safe, owners should just require their own legal counsel in conveyancy ( private ). For HDB, almost everything is controlled by them anyway.

 

The reasons given by many are varied but the most often reason is...No time.

 

So what would be your reasons if you were to get a property agent to do the selling or buying for you?

[Stary]

  On 2/9/2009 at 7:36 AM, Gearoil said:

With the recent news coming from a High Court case of unethical property agents, why do owners not sell their property themselves.

 

Be it HDB or private.

 

To be safe, owners should just require their own legal counsel in conveyancy ( private ). For HDB, almost everything is controlled by them anyway.

 

The reasons given by many are varied but the most often reason is...No time.

 

So what would be your reasons if you were to get a property agent to do the selling or buying for you?

 

I think for private, there is no need to get agent. Advertise yourself and then together with the buyer, share the same lawyer for cheaper cost.

 

For HDB, without agent is a little difficult because got so many funny rules and paperwork to be done.

[Gearoil]

If you are so daunted by the difficult rules in HDB process then you can try the ..http://www.DiyHDB.com process which does about half of the paper work for you at much lesser cost.

 

But honestly....there ain't many honest and competent agents around these days...this I can vouch for!

[Kusje]

  On 2/9/2009 at 7:36 AM, Gearoil said:

With the recent news coming from a High Court case of unethical property agents, why do owners not sell their property themselves.

 

Be it HDB or private.

 

To be safe, owners should just require their own legal counsel in conveyancy ( private ). For HDB, almost everything is controlled by them anyway.

 

The reasons given by many are varied but the most often reason is...No time.

 

So what would be your reasons if you were to get a property agent to do the selling or buying for you?

 

 

It isn't just the advertisement. It is the answering of calls, showing the buyer around etc. Some agents might also have a ready buyer who is looking for something in the area (or knows a fellow agent with such a client).

[Throttle2]

i sold my last two properties myself.

 

yes it is a little troublesome but you learn something in the process and the buyer will appreciate talking to the owner.

 

another thing is be realistic but firm with price, and dont haggle over a few grand.

 

actually it's quite like selling/buying a car.

 

housing agents are also like car dealers.

 

 

 

 

 

 

[Snowbell]

sometimes,lawyers may nt wanto act for both sellers & buyers,conflict of interests.further,if buyer takin bank loan & lawyer acting for the bank as well,bank will tell lawyer not to act for seller.

 

well,it's the process of finding genuine buyers or sellers for the property that's headache.yup some ppl wld say no time & rather give the agent their 1% commission.

[Pcslim]

Just to share my experience as a buyer without representation by housing agent.

 

Found a desired HDB resale unit on my own means after a hard search (newspaper/word of mouth/personal pamphlets), the seller's agent demanded that I pay her 1% commission even though she did nothing for me at all. If not, she threatened to psycho the seller not to sell the unit to me. She just wanted to pocket both 1% (from buyer) and 2% (from seller) herself. I sought help from HDB and the agent's property agency but to no avail. The former said its a private deal which HDB do not want to get involved. The latter sided with its agent and recommended that I should pay the agent commission as this is a 'industry norm'.

 

As we liked the unit so much and tired from the long search, we have no choice but to pay the agent 1% commission for no reason. The agent, not the seller, basically control whether the deal fall through or not.

 

Sorry for side tracking. The moral of the story is: Housing agents are likely the ones CONTROLLING the deal, not buyer or seller. So even if you do not engage the service of the agent, you could still be tied down by the agent of the other party. So sometimes you have no choice but to let these so-called 'professionals' do the job and earn the commission.

[Tarzan666]

I went thru 4x agents to find something which fit my criteria, but all failed me. They were eager to close deal on every house which I viewed, although they dont fit my criteria at all.

 

End up I decided to go on my own, but trying to find a HDB property which is not represented by an agent is like finding a needle in the haystack.

 

I finally found a property which fits all my criteria, on my own. The agent oso demand i pay him 1%, had an argument with him. How can he accept commission on both side, his not my agent blah2...but not wanting to lose my dream home. I decided to only pay him when he accepted 0.5% commission.

 

After going through the whole process, i seriously think it is very very easy to buy & sell house on your own, most forms i tink can even download from HDB website. Relevant information can be found there too.

 

Its juz dat to find a match between an agentless buyer and seller is super hard.

 

 

[Hishercar]

if you want one i have one

 

 

no strings attached

[Hishercar]

may i ask how much do you saved in the process in terms of %

[Yoongf]

We all know how to use a pair of scissors. But why are we not cutting our own hair?

 

Because someone else know the latest style and knows how to get it done.

Someone else can do it more efficiently.

Someone else knows how to correct any booboos.

Or someone else knows someone who can do it even better.

[Loneranger]

Come on guys, everybody needs to make a living.

 

Like Throttle2 say, "dont haggle over a few grand".

 

Things may looks simple on the surface, but why take

 

the risk to do it on your own? We are talking about hundreds

 

of thousands or even millions involve. Anyway I sold my last

 

2 houses thru agents, never had any issues.

[Sgnick]

  On 2/9/2009 at 7:45 AM, Starry said:

I think for private, there is no need to get agent. Advertise yourself and then together with the buyer, share the same lawyer for cheaper cost.

 

For HDB, without agent is a little difficult because got so many funny rules and paperwork to be done.

 

Is there a loophole that allows the self engaged lawyers to have chance to run off with the money, like the cases in the newspaper?

[Throttle2]

saved more than $20k if you take 1% as the comm.

[Throttle2]

  On 2/9/2009 at 12:46 PM, Loneranger said:

Come on guys, everybody needs to make a living.

 

Like Throttle2 say, "dont haggle over a few grand".

 

Things may looks simple on the surface, but why take

 

the risk to do it on your own? We are talking about hundreds

 

of thousands or even millions involve. Anyway I sold my last

 

2 houses thru agents, never had any issues.

 

 

When using housing agents and car dealers and the likes, simply apply the same method.

 

Drop them, the moment they start their sweet talk and balls carrying.

 

These are the worst of the lot.

 

Remember one thing, they dont care a fu@ck about how you end up, as long as they close the deal.

 

 

 

If i can help it, I would rather not use an agent (be it house or car)

 

 

 

 

 

 

 

 

 

[Throttle2]

  On 2/9/2009 at 12:03 PM, Yoongf said:

We all know how to use a pair of scissors. But why are we not cutting our own hair?

 

Because someone else know the latest style and knows how to get it done.

Someone else can do it more efficiently.

Someone else knows how to correct any booboos.

Or someone else knows someone who can do it even better.

 

Thats not quite good an analogy...

 

anyway I happen to be someone who does, cut his own hair.

 

I havent been to the barber or hairstylist since 1988....and I'm willing to stake every single dollar I have, to challenge anyone who doesnt believe me on this.

 

 

 

 

 

[Loneranger]

  On 2/9/2009 at 2:44 PM, Throttle2 said:

Thats not quite good an analogy...

 

anyway I happen to be someone who does, cut his own hair.

 

I havent been to the barber or hairstylist since 1988....and I'm willing to stake every single dollar I have, to challenge anyone who doesnt believe me on this.

 

 

 

 

 

 

 

wa lau a, you should change your nick to Thrifty2. BTW teach me how to cut slope on the back leh,

I cant seems to get it right.

[Hishercar]

wow that is alot of money

 

can imagine what to use the money for

 

like Miele fridge

 

can buy 4 motocycles

 

etc

 

will learn to the same the next time