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> KL VS Penang Agents, pls help me sifus

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TSregan96
post Apr 6 2016, 08:36 AM, updated 8y ago

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I need to know about property agent in KL& Penang. (difference)
1. The fees charged
2. The procedure (in brief)
3. The response given by the agent
4. Time taken for the agent to help sell / buy a property
5. The attitude of the agent
I am writing an article. I will give credit to lyn don't worry.

Fortezan
post Apr 6 2016, 01:48 PM

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The main difference is agent fee in KL is charged to only Seller, but in Penang, both Seller and Buyer have to pay agent fee
TSregan96
post Apr 6 2016, 02:33 PM

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QUOTE(Fortezan @ Apr 6 2016, 02:48 PM)
The main difference is agent fee in KL is charged to only Seller, but in Penang, both Seller and Buyer have to pay agent fee
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oh ok, thats helpful
airtawarian
post Apr 7 2016, 04:20 PM

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It is illegal to charge the purchaser for the agent fees. Probably a complaint should be made against the said agent.
TSregan96
post Apr 7 2016, 04:37 PM

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QUOTE(airtawarian @ Apr 7 2016, 05:20 PM)
It is illegal to charge the purchaser for the agent fees. Probably a complaint should be made against the said agent.
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Why? isnt it like that most of the time?
Fortezan
post Apr 8 2016, 08:27 AM

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QUOTE(airtawarian @ Apr 7 2016, 04:20 PM)
It is illegal to charge the purchaser for the agent fees. Probably a complaint should be made against the said agent.
*
Why is it illegal? This has been the practice for all property agent in Penang (and Johor as well if I'm not mistaken). In KL, the seller probably already factor in the agent fee into the property price. As buyer, if you are paying agent fee, just make sure you utilize the agent kao kao to do all the work for you (check strata title, property history...etc)
TSregan96
post Apr 8 2016, 08:41 AM

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QUOTE(Fortezan @ Apr 8 2016, 09:27 AM)
Why is it illegal? This has been the practice for all property agent in Penang (and Johor as well if I'm not mistaken). In KL, the seller probably already factor in the agent fee into the property price. As buyer, if you are paying agent fee, just make sure you utilize the agent kao kao to do all the work for you (check strata title, property history...etc)
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Ok thank you
airtawarian
post Apr 8 2016, 09:16 PM

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QUOTE(Fortezan @ Apr 8 2016, 08:27 AM)
Why is it illegal? This has been the practice for all property agent in Penang (and Johor as well if I'm not mistaken). In KL, the seller probably already factor in the agent fee into the property price. As buyer, if you are paying agent fee, just make sure you utilize the agent kao kao to do all the work for you (check strata title, property history...etc)
*
" Has been Practice" doesn't mean it is legal. It is just that the buyer is not aware on this. You can only charge either one party. Probably there should be a strict enforcement by the authorities on the unscrupulous agent and we need to educate the public on this.
Fortezan
post Apr 11 2016, 08:53 AM

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QUOTE(airtawarian @ Apr 8 2016, 09:16 PM)
" Has been Practice" doesn't mean it is legal. It is just that the buyer is not aware on this. You can only charge either one party. Probably there should be a strict enforcement by the authorities on the unscrupulous agent and we need to educate the public on this.
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Which article of the law states that it is illegal to charge buyer agent commission? If your statement is based on facts please provide source and links so that all buyers can benefit.


amandalim
post Apr 15 2016, 12:06 AM

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Having bought property in both KL and Penang, this is what I understand:
The Board of Valuers, Appraisers & Estate Agents Malaysia does have a regulation that mentioned an agent can only collect commission from either seller or buyer, but not both.
This is where the loophole comes in, agent in Penang usually co-broke, which means one will represent the seller, and the other will represent the buyer, hence the seller agent will collect his commission from the seller, while the buyer agent will collect commission from the buyer. Which is why from my own experience when viewing properties in Penang, most of the time there will be two different agent present.
In KL, since buyer normally don't pay agent commission, KL agent usually do not co-broke, otherwise he will have to take a cut from his own commission to pay the other agent, or he will charge a higher commission to the seller, and the seller will set their selling price a bit higher, in the end, it's all the same to the buyer.
Above are just my own observation (I'm not an agent), hopefully some agent can share some light on this.

This post has been edited by amandalim: Apr 15 2016, 12:17 AM
TSregan96
post Apr 15 2016, 07:34 AM

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QUOTE(amandalim @ Apr 15 2016, 01:06 AM)
Having bought property in both KL and Penang, this is what I understand:
The Board of Valuers, Appraisers & Estate Agents Malaysia does have a regulation that mentioned an agent can only collect commission from either seller or buyer, but not both.
This is where the loophole comes in, agent in Penang usually co-broke, which means one will represent the seller, and the other will represent the buyer, hence the seller agent will collect his commission from the seller, while the buyer agent will collect commission from the buyer. Which is why from my own experience when viewing properties in Penang, most of the time there will be two different agent present.
In KL, since buyer normally don't pay agent commission, KL agent usually do not co-broke, otherwise he will have to take a cut from his own commission to pay the other agent, or he will charge a higher commission to the seller, and the seller will set their selling price a bit higher, in the end, it's all the same to the buyer.
Above are just my own observation (I'm not an agent), hopefully some agent can share some light on this.
*
That was really helpful. Never knew there will be two agents involve though i have heard about co-broke. Thank you rclxms.gif notworthy.gif
eddyooi
post May 24 2017, 08:47 PM

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QUOTE(Fortezan @ Apr 6 2016, 01:48 PM)
The main difference is agent fee in KL is charged to only Seller, but in Penang, both Seller and Buyer have to pay agent fee
*
this is still going on
buyer still must pay

@Wassupman
balistafear
post Jun 16 2017, 12:11 PM

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QUOTE(amandalim @ Apr 15 2016, 12:06 AM)
Having bought property in both KL and Penang, this is what I understand:
The Board of Valuers, Appraisers & Estate Agents Malaysia does have a regulation that mentioned an agent can only collect commission from either seller or buyer, but not both.
This is where the loophole comes in, agent in Penang usually co-broke, which means one will represent the seller, and the other will represent the buyer, hence the seller agent will collect his commission from the seller, while the buyer agent will collect commission from the buyer. Which is why from my own experience when viewing properties in Penang, most of the time there will be two different agent present.
In KL, since buyer normally don't pay agent commission, KL agent usually do not co-broke, otherwise he will have to take a cut from his own commission to pay the other agent, or he will charge a higher commission to the seller, and the seller will set their selling price a bit higher, in the end, it's all the same to the buyer.
Above are just my own observation (I'm not an agent), hopefully some agent can share some light on this.
*
This is as per my understanding too.

 

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