toxic property agent pwning their competitors.......

[GarnetDragon]

*Patrick Star has entered the chat*

 

[daveteo88]

If got money to earn ppl becomes very ugly and cruel. See how PMD all bang ppl don't give way? Why? Is because of money. Insurance agent and property agent also the same.

 

[curahee]

How I wish my industry got this kind of body to protect our margin. Any competitors that try to under cut to get business, straight away report and force him close shop or charge at the same price... This property industry is really toxic industry. The seller buyer all kena exploit gao gao


Read HWZ Forum Rules!

 

[mikezuper]

I like Patrick style, he already streamlined the process to make it efficient and win win win for all. Will go with him next time.

 

[106gunner]

Fixed price of commission at $1999 is indeed attractive rather than agent charging you 1 to 2 % of commission

 

[curahee]

So-called "patrick" may be fictitious.
This may be a damned Advertisement for this particular agent Dennis.
No surnames given at all.

Valid one. I follow his tik tok account for the past one year. When he close whatever deal, he will tik tok post the video with the seller to show its true he close many deal and good feedback from the seller in the video


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[windwaver]

....buey song peepur collect low commission

really ish cut throat industry

agent who reported him should be counter investigated for


#save patrick


hu ish patrick???

Nice background lights

 

[blackvice]

How I wish my industry got this kind of body to protect our margin. Any competitors that try to under cut to get business, straight away report and force him close shop or charge at the same price... This property industry is really toxic industry. The seller buyer all kena exploit gao gao


Read HWZ Forum Rules!

It's the same for whatever industry. You do good, sure will have people red eyes you and do you one, mybfd

 

[focus1974]

Wo prease Ni la, later unemployment rate suddenly jump 1% then our ministers need to suddenly find jobs for these blokes.

This is the key consideration for the govt and CEA .. in my opinion.

This Homseller is doing good for home sellers (pun intended).

but he is disrupting the whole industry NEGATIVELY by potentially :-
1) Lowering the commissions collected by the agents => Lower Income Tax Revenue contribution for govt

2) Unsustainable commission structure leads to agents quitting => But a lot of agents join because they cant find good paying jobs out there too. means Unemployment rate up. => govt problem lai liao. NTUC chief have to feel sad again

3) unsustainable Property agencies => refer to #1. How to sustain a agencies with support functions. No need liao. Wealth destruction. => Property agencies will sure lobby CEA and MND to help one. Govt also know the repercussion.

This cheap commission structure is breaking other people's ricebowl and you break my ricebowl, i will destroy you! ..lol..
So , will the KEO or the agency this HomeSeller is registered under do anything?
His key consideration will be .... the moral dilemma of. ... Saving the 1 person who is doing good for the consumers or Saving the 10,000 who is doing good for the industry. KEO position will not exist if the agency dont exist.

So why is GRAB disrupting the market but allowed to thrive?
Because it is solving a big problem for the government.
It is Creating Employment of the last resort for native singaporeans . Cash payouts weekly? for those part-timers and who cannot find job but need job to feed families.

Did it destroyed existing players? Not really. Because their prices are not cheaper most of the time versus the established players.

 

[mikezuper]

Ya la… I last time engage 2% agent, cobroke sale. U know what happen? Agent got cheek to ask me top 1% for co broke agent to bring his buyer

xxb

I kena last min top up $10k, seller say want to up despite price agreed already. I suspect due to co-broke. In the end I gave in. Really toxic industry.

 

[myopenid]

Market comm rates exist for a reason. If one is allowed to market whatever low fees he fancies, 1999, 2999, 3999 or whatever, what happens next? You'll see 999, 499, maybe even 199. The whole property transaction market becomes like a wet market.

The true value of a property agent is precisely zero. Any commission more than $0 is too high.

Property agent exists because it is institutionalized, not because they’re necessary. Speaking as a home buyer having dealt with multiple seller and buyer agents, these people do almost nothing and expect to be paid 2% is a scam.

 

[rider83]

Never assume that your agent is working in your interest but more towards his commissions and top awards
Homeseller is a good avenue for HDB sellers but not for private property owners as 0.5% commission of sale price is payable to cobroke agents

0.5% of the sale price goes to co broke agent sounds ok to me, it is not as if it is a small amount

 

[mikezuper]

This is the key consideration for the govt and CEA .. in my opinion.

This Homseller is doing good for home sellers (pun intended).

but he is disrupting the whole industry NEGATIVELY by potentially :-
1) Lowering the commissions collected by the agents => Lower Income Tax Revenue contribution for govt

2) Unsustainable commission structure leads to agents quitting => But a lot of agents join because they cant find good paying jobs out there too. means Unemployment rate up. => govt problem lai liao. NTUC chief have to feel sad again

3) unsustainable Property agencies => refer to #1. How to sustain a agencies with support functions. No need liao. Wealth destruction. => Property agencies will sure lobby CEA and MND to help one. Govt also know the repercussion.

This cheap commission structure is breaking other people's ricebowl and you break my ricebowl, i will destroy you! ..lol..


So why is GRAB disrupting the market but allowed to thrive?
Because it is solving a big problem for the government.
It is Creating Employment of the last resort for native singaporeans . Cash payouts weekly? for those part-timers and who cannot find job but need job to feed families.

Did it destroyed existing players? Not really. Because their prices are not cheaper most of the time versus the established players.

Disruption in property transaction is due. Ohmyhome, carousell home, etc2 trying to take slice out of it. It is a matter of time.

If the unit discovery can be done without agent (e.g. marketing in propguru can be done by non agent), buyer and seller can transact liao.

 

[Iamdone]

Property price rise or double as compared to a decade ago. Absolute commission fee also follow proportionally. Agent Chop house owner gao gao they felt is entitled. How many honest worker pay rise didn't rise as fast as the agent fee collected in the last decade? Greedy agents

 

[blackvice]

The true value of a property agent is precisely zero. Any commission more than $0 is too high.

Property agent exists because it is institutionalized, not because they’re necessary. Speaking as a home buyer having dealt with multiple seller and buyer agents, these people do almost nothing and expect to be paid 2% is a scam.

Don't like that la, commission $0, people eat what?

 

[focus1974]

Disruption in property transaction is due. Ohmyhome, carousell home, etc2 trying to take slice out of it. It is a matter of time.

If the unit discovery can be done without agent (e.g. marketing in propguru can be done by non agent), buyer and seller can transact liao.

big agencies do their part to protect their businesses mah.
No choice one.

then those non-traditional agencies are just trying to find their blue ocean to get their entry into the market.
so, no choice, have to go thru low cost model to attract customers. if not, no differentiation from the big players.

but ultimately, it will depend on the consumer's acceptance as well as whether this disruption will present problems to the government as mentioned above in one of my post.

 

[20kjinsatki]

How is charging a lower price anti competitive? Having a lower price IS competitive

 

[Faux Pas]

Due to demand and supply a lot of the resale flats are able to sell by itself. They just need someone to advertise it in propertyguru and do the paperwork and some timeline planning. Paying 2% for that and across all types of hdb flats seems more and more ridiculous since they are of the same work. Flats don’t really need hard selling also, in fact agent can don’t talk at all, if buyers like due to whatever reasons they will offer/buy it

 

[iceblendedchoc]

foreigners also become agents nowadays that is how lucrative the market became.