Saving money by bypassing property agent

[klarklar]

I stumbled onto a money-saving blog post. It is quite obvious that for HDB transactions, we should do it ourselves without going through property agents. The savings is tremendous (can be worth at least 1 month salary) because the value of a property can be very high. For HDB transactions, it is also not so hard.

For private properties, it is not so obvious. If I am a buyer of private property, I think one had better get a qualified agent to make sure that the title deed is transferred properly. However, if I am a seller, this is not a concern to me and I will try to do it myself. The cost savings will be tremendous without going through a property agent.

Any opinions from forummers? I state upfront that I am not a property agent. Just want the best deal for myself and fellow Singaporeans. I hope forummers who are property agents will state their conflict of interest when they post on this thread.

Diary of A Singaporean Mind: Why you should try not to sell your stuff through middlemen....

 

[kebinu]

Most of these jobs are still here for good reasons.

Yes we can definitely save money by cutting middleman. We can do our own house chores (do away with maids), cook our own food, bid and import our own car, etc. list can just go on.

We have to pay to get the service.

 

[TUV2008]

I sold two apt without paying normal commission , I advertised my own and only the agents came to beg me for doing paper work. Sino just paid $500 only.

 

[GenuineSeller]

For private properties, it is not so obvious. If I am a buyer of private property, I think one had better get a qualified agent to make sure that the title deed is transferred properly.

Agents do not make sure your title deed is transferred properly. Lawyers do that....that's why we need to pay legal fee .....

 

[klarklar]

Agents do not make sure your title deed is transferred properly. Lawyers do that....that's why we need to pay legal fee

Thank you for the useful piece of information. If lawyers ensure that the paperwork is done properly, then the agent's work lies in helping me find a buyer or seller. Suppose I have already identified a buyer/seller. Do I still need an agent? Does an agent add value at this point?

 

[klarklar]

Yes we can definitely save money by cutting middleman. We can do our own house chores (do away with maids), cook our own food, bid and import our own car, etc. list can just go on.

We have to pay to get the service.

Sure. I don't mind paying to get someone cook food for me or do household chores because the cost is cheap. However, an agent's commission can be worth several months of salary. It certainly make good sense of bypass an expensive middleman, especially if he costs me several months of my salary.

 

[GenuineSeller]

Thank you for the useful piece of information. If lawyers ensure that the paperwork is done properly, then the agent's work lies in helping me find a buyer or seller. Suppose I have already identified a buyer/seller. Do I still need an agent? Does an agent add value at this point?

I rented out my apartment by advertising on my own. Paid stamp duty but fee was paid by tenant.

I sold my apartment by advertising and finally paid half the commission when one agent responded to my ad.

 

[klarklar]

I rented out my apartment by advertising on my own. Paid stamp duty but fee was paid by tenant.

I sold my apartment by advertising and finally paid half the commission when one agent responded to my ad.

Thanks for the reply. I understand now. If I am willing to spend time to find buyer/seller for myself, then the property agent has no value for me.

 

[GenuineSeller]

Thanks for the reply. I understand now. If I am willing to spend time to find buyer/seller for myself, then the property agent has no value for me.

Property agents usually will know more buyers/sellers than us. For rental, they will have more value as they could assist with tenant issues or tenancy agreement etc.

Good luck....

 

[chopra]

For hdb, you need agent to sell. But you can buy without agent. Paperwork is all listed in e hdb website.

 

[OngHuatHuat]

Agents sometimes can help a lot d, coz their network is much wider.

I try rent out my room myself, very hard to get viewings. Pass it to a few agents , the response are fast.

 

[doody_]

Agents sometimes can help a lot d, coz their network is much wider.

I try rent out my room myself, very hard to get viewings. Pass it to a few agents , the response are fast.

That is their value add, else they would be out of job. You are also paying for their network. That's why go for big agencies.

 

[cscs3]

Sure. I don't mind paying to get someone cook food for me or do household chores because the cost is cheap. However, an agent's commission can be worth several months of salary. It certainly make good sense of bypass an expensive middleman, especially if he costs me several months of my salary.

This is why so many want to become agent. 1% of 1M$ house is quite good. Providing they do a good job. Otherwise, spend sometime yourself and save the money.

If time is important to you, then no choice.

 

[OngHuatHuat]

I am thinking of becoming one already. Will go read up more on this.

This is why so many want to become agent. 1% of 1M$ house is quite good. Providing they do a good job. Otherwise, spend sometime yourself and save the money.

If time is important to you, then no choice.

 

[iMac]

I sold two apt without paying normal commission , I advertised my own and only the agents came to beg me for doing paper work. Sino just paid $500 only.

Elite spotted...

 

[needreader]

I stumbled onto a money-saving blog post. It is quite obvious that for HDB transactions, we should do it ourselves without going through property agents. The savings is tremendous (can be worth at least 1 month salary) because the value of a property can be very high. For HDB transactions, it is also not so hard.

Problem is that some of the property that's listed on the website required you to co-broke with the "assigned property agent". If you fail to do that, the seller agent would refuse to sell the property to you. In order to buy the property, you are "forced" to go through the property agent.

 

[highsulphur]

In a bull market, there's less need for a seller to have a agent.

In a bear market, there's less need for a buyer to have a agent.

You try selling your house now without an agent and see how it is...

 

[qhong61]

In a bull market, there's less need for a seller to have a agent.

In a bear market, there's lesseneed for a buyer to have a agent.

You try selling your house now without an agent and see how it is...

I think it's better to have an agent to sell our flat if it's in a not so popular area. Else we will have to incur a lot of advertising charges and with little results.

 

[chuanz]

Just wondering if the thread digger is subtly advertising or sic... It's a grey grey area... LOL!

 

[subprimelive]

Thanks for the reply. I understand now. If I am willing to spend time to find buyer/seller for myself, then the property agent has no value for me.

Advertising fees is expensive or cheap if u advertise yrself?
Advertise online is free？