Advise on selling house
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 Apr 9 2022, 09:09 PM
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#1
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14,511 posts Joined: Sep 2017 
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QUOTE(happysalad @ Apr 9 2022, 11:37 AM) how much could the second agent get? 50/50is there a standard percentage (or market rate) of co-broke?  No agent has an upper hand when co-broking. One has the property, the other a buyer. This post has been edited by mini orchard: Apr 10 2022, 06:47 AM |
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Apr 11 2022, 10:48 AM
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#2
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QUOTE(ericthai @ Apr 11 2022, 10:26 AM) What is the penalty for breaking the agreement written on it? If there is no penalty or very little penalty, then just break the agreement. Agreement can be in writting or verbal. As long the plaintif can prove an 'agreement' exist, it suffice.I doubt these people will hire a lawyer to sue you because hiring a lawyer takes many years and they have to pay a lot of money to the lawyer, it's not worth their time and money. Don't wait for 6 months which is too long, just talk to other agents on how you can break the agreement. If there is no stamp duty stamped on the agreement, then it is not a legal document. Just say you are not happy with their service, you have the right to terminate it. LHDN allowed late stamping of agreement with small penalty. This post has been edited by mini orchard: Apr 11 2022, 10:48 AM |
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Apr 11 2022, 12:56 PM
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#3
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QUOTE(ericthai @ Apr 11 2022, 12:45 PM) Even if late stamping, if the T&C do not impose a huge penalty on signer or signer thinks that the penalty is too harsh, he can always go to small claims tribunal to fight the case. Penalty are per LPPEH guideline. |
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Apr 11 2022, 03:58 PM
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#4
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QUOTE(ericthai @ Apr 11 2022, 03:29 PM) You got cheated by that agency to sign this type of one-sided agreement. That's why they can do things slowly because there's no urgency to sell your house. I dont think cheat is the right word. There are pro and cons in exclusive listing ..... smilar to open listing.Like I said, I advertised in Mudah.my and 100 agents called me, no need to sign any one-sided agreement. A property will sell if the price is right....doesnt matter exclusive or open. Owner can also diy with the right price and save on commission. Having exclusive listing in the pocket doesnt make money. Turnover of listing determines how much agent earns in a month. The quicker he sells a listing, the more money he earn for the month. Not sure your reasoning for delaying a sale thou. One can research iprop with few agents handling a property. After 3 to 6 months, the property is still in the market with further new agents joining in .... why ? This post has been edited by mini orchard: Apr 11 2022, 05:24 PM blvckskvll liked this post
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Apr 12 2022, 08:32 AM
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#5
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QUOTE(blvckskvll @ Apr 12 2022, 08:07 AM) Yes agree. So what is the pros of an Exclusive agent? Of what happening i dont see any. When a listing dont sell by exclusive or open agents is because price doesnt match location comparing to neigbouring similar properties. Any property can be sold if price is right. Exclusive listing is good when you dont want to deal with many agents. There is only one selling price quoted unlike open agents where one property will have few prices quoted by different agents. Every open agent will try to undo each other over price. Experienced agents are very smart when closing a deal. Some can close deal below owner final price .... similar to calling a bird from a tree. Buyers esp newbies will be confused on why a similar property have different prices in the market. Experience buyer will go for the lowest quote since price set by 'owner' is 'flexible'. Too many negotiations will affect closing price. He will go through different agents to press the price down. Seller will think there are many 'buyers' which the fact is ONLY one ! Exclusive listing will have the closing price more stable. Buyer either buy or dont. He cant deal with other agents to bring the price down further. This post has been edited by mini orchard: Apr 12 2022, 09:13 AM blvckskvll liked this post
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