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

[Happienoob]

Wow. Come in see so many agents tio own, so sleepy.

 

[lousylah]

I wonder how many % comm do agents like property lim bros charge with all their fancy videos and marketing?

I heard is 3-4%

I tried engaging them to sell my office but put off by their “they win you lose” conditions. Pay 2k upfront commitment fee, sell slightly below market price, no video tour. 2k will be makan if property cannot be sold by x number of months etc. commission 2.5 to 3%

Power Sia. Still can ask $2k upfront fee. They really think they are “marketing” your property. Knn just post on PropertyGuru / etc and paste some flyers = marketing

PLB created a niche for themselves. They bypass the clutter on guru (duplicate listings, daily boosted posts, etc) and reach direct via social media. they are social media company first, property agents SECOND.

Its definitely different from the cookie-cutter property agent doing same work (post guru, spam letterboxes) but asking 2% or more sometimes.

their videos do require some expertise to do - not the random tiktok short vid or the iMovie template.

they price themselves a certain way and people still go to them. So it works for them.

 

[worldmap777]

wa this guy really disrupter.

 

[buttbERry]

like good pricing

 

[Ginnylim07]

I believe this year property agents will be eliminated and replaced with electronic submission.

 

[Forever84]

PLB created a niche for themselves. They bypass the clutter on guru (duplicate listings, daily boosted posts, etc) and reach direct via social media. they are social media company first, property agents SECOND.

Its definitely different from the cookie-cutter property agent doing same work (post guru, spam letterboxes) but asking 2% or more sometimes.

their videos do require some expertise to do - not the random tiktok short vid or the iMovie template.

they price themselves a certain way and people still go to them. So it works for them.

Does it matter? End of day, consumer just want lowest cost option to sell a house. If so via social media will get 10% more in price? PropertyGuru is an intent platform, people who are there have more intention to buy. Social media is a push marketing platform. I highly doubt they can move themselves completely off PropertyGuru

 

[Forever84]

wa this guy really disrupter.

One is pro consumer

the other is pro own pocket

no guesses as to which consumers prefer

 

[Taloona]

need to update and revise according to today prices.

huai do we need to pay 2% for mere paperwork?
if agent cannot close at least 10% above market rate, what cheesepie value are they providing???

To be fair, I don't think it's simply mere paperwork. They need to be knowledgeable about the legal issues in buying/selling a house. Any wrong advice and the buyer/ seller may get into trouble. They also need to spend money on marketing and time involved in the coordination work. I am not an agent, by the way.

It will forever be a sore point as to how much commission they should earn.

How much commission do real estate agents earn in other countries?

 

[anonym]

It’s a good biz model.

HDB are commodity, nothing unique or difficult about it. why need to charge tens of thousands to sell?

Agent need to adapt or die out.

 

[fly1111]

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.

Should quickly digitize the whole process so they can earn nth

Comm rate is what agent wants. It’s 1 sided. Not market consensus.

 

[lousylah]

Does it matter? End of day, consumer just want lowest cost option to sell a house. If so via social media will get 10% more in price? PropertyGuru is an intent platform, people who are there have more intention to buy. Social media is a push marketing platform. I highly doubt they can move themselves completely off PropertyGuru

Yes there are many price driven consumers (and probably you are too) so for such segment it only works by volume - low comm but many customers.

For consumers who are NOT price driven (which you probably are not) they are free to pay higher if they feel they are getting their $$ worth.

anyway PLB’s videos also include “staging” work that the standard property agent cant be bothered to do (get seller to send in some random photos shot on handphone, good enough!)

again it does not meet your need or budget does not mean that arent others who will pay for such “marketing” service.

 

[s-ghost]

PLB created a niche for themselves. They bypass the clutter on guru (duplicate listings, daily boosted posts, etc) and reach direct via social media. they are social media company first, property agents SECOND.

Its definitely different from the cookie-cutter property agent doing same work (post guru, spam letterboxes) but asking 2% or more sometimes.

their videos do require some expertise to do - not the random tiktok short vid or the iMovie template.

they price themselves a certain way and people still go to them. So it works for them.

if i am not wrong, they have an in-house video department

 

[Glectrix]

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.

That's what we call free market. I support free market.

 

[tomicaguy]

If you are buying HDB resale and have the time, you can do away with property agent. I did it myself and all the research, even the seller property agent asked me if I was an ex-agent before.

 

[Forever84]

To be fair, I don't think it's simply mere paperwork. They need to be knowledgeable about the legal issues in buying/selling a house. Any wrong advice and the buyer/ seller may get into trouble. They also need to spend money on marketing and time involved in the coordination work. I am not an agent, by the way.

It will forever be a sore point as to how much commission they should earn.

How much commission do real estate agents earn in other countries?

Sharing my same story, agent gave me wrong info on timeline. End up I needed to liquidate my stocks to bridge the cash shortfall

Agent got give me discount? No. Still ask me give 1% co broke fee

 

[1l92041H]

If you are buying HDB resale and have the time, you can do away with property agent. I did it myself and all the research, even the seller property agent asked me if I was an ex-agent before.

U should consider getting license and jointing homeseller or do yourself. Fixed fee we will support u, u will all get all the market share

 

[Forever84]

Yes there are many price driven consumers (and probably you are too) so for such segment it only works by volume - low comm but many customers.

For consumers who are NOT price driven (which you probably are not) they are free to pay higher if they feel they are getting their $$ worth.

anyway PLB’s videos also include “staging” work that the standard property agent cant be bothered to do (get seller to send in some random photos shot on handphone, good enough!)

again it does not meet your need or budget does not mean that arent others who will pay for such “marketing” service.

I think it’s the myth that all these “extra” services help to sell a unit. I’m confident my current unit can sell easily, thus I don’t see a need for all these extras.

Yes there might be people who like such services, so why agent go disturb ppl like homeseller who trying to offer a different service tier??? They do their business can laio, I see all faceless agent on tiktok saying he provide lousy service etc lol

 

[Forever84]

if i am not wrong, they have an in-house video department

Aka I have huge overheads and I need to bill my customers for it

 

[focus1974]

PLB created a niche for themselves. They bypass the clutter on guru (duplicate listings, daily boosted posts, etc) and reach direct via social media. they are social media company first, property agents SECOND.

Its definitely different from the cookie-cutter property agent doing same work (post guru, spam letterboxes) but asking 2% or more sometimes.

their videos do require some expertise to do - not the random tiktok short vid or the iMovie template.

they price themselves a certain way and people still go to them. So it works for them.

But . the homeseller is correct.
Properties usually do not need fancy video tour to sell.
Most important is propertyguru listings. Every tom dick harry will go there to find ur properties.
u use video , no doubt bypass, but at the expense of the SELLER .. without necessarily creating a higher price for the property.

 

[Taloona]

Sharing my same story, agent gave me wrong info on timeline. End up I needed to liquidate my stocks to bridge the cash shortfall

Agent got give me discount? No. Still ask me give 1% co broke fee

Should complain to CEA and tell him off, then deduct from the commission since you had incurred a financial loss. Your case illustrates that agents have to be knowledgeable about real estate law and cannot give wrong information.

Actually, every job requires some expertise or skill. For sales job, besides product knowledge, you must be good at connecting with people.