3% is standard agency rate . And this rate agent need to split with company some more .

His life commitment like makan minum also inflation ma

I paid 2.5% for my past sellings..

you know what is inflation right?

last time u eat mee goreng RM 2.50, now RM 5.00 don't know can get or not

yes, what if they co-broke or work with another agent?

Mr. TS you think your 2% very big already?

you sell fast get money fast put FD per year also got 3-4%

u sell slow wait for a year only get buyer how much you lost? since you so good in counting please count and see

seems like TS just a petty person who thought other people earning his money very easy

It also depends on what value you get back from the 3% paid.

If you have alternative viewpoints, can argue it in a civil manner. Don't have to do personal attack.

Depends on your location also I think. Maybe your property very hard to sell leh, if hot areas will have more competition, then the offered commission might lesser.

and what is this law that you're saying need to be removed?
allowing maximum of 3% charge?
nobody is stopping anyone from entering the market... You wanna enter the market also can ma..
just need to go take the license and course to be a registered REA then can sell ady la.. whether you wanna freelance or join agency that's up to you ..

and its good to be regulated in a sense that only registered REA can help to sell.. otherwise anybody also can sell.. then say kena scam..
at least with REA license, they can't really scam you.. got all the info dy, easy to verify and catch

you also must understand selling property isn't exactly easy like abc
got things that you gotta know and the law behind selling property.. unlike just buying things at a market like 'eh this one how much? rm 500k? okay on lah' then sold..
and the effort bro.. you think taking potential buyers around is easy? you need to move here and there.. with the high chance of getting 0 sales..
like one bro mentioned.. 3% could be their only income for months.. not like they can easily sell few houses in a month's time..
and that 3% is also split between the agency and the agent..

and why the 3%?
one, because they are allowed to
second, they got the tools and skills to sell the house, do you have it?
they got contacts, area knowledge, potential clientele of rich buyers that may be looking to sapu a few units in the area, you got meh?

This post has been edited by technosakai: Dec 1 2023, 09:35 AM

Still can't digest why the extra 1% is such a big deal to you or the sellers you talked to.
there is inflation, things also will go up in price..
even the portals to advertise might be charging more for an ad, the agency's office rental also might gone up, these are things that are incurring costs to the agency already before even having to close a deal.. so to charge they are legally allowed to at 3%.. is that really a big deal?


and like this bro said, willing buyer, willing seller
agents or agency that specialize in area could have ready buyers for fast selling of the property and fast buying process.. so if you wanna sell the property fast, that 1% matters a lot ah?
you can sell off faster, get money faster.. when the property price is still high, easy money wor..
if you try to sell it off yourself, you got no access to ready buyers, and slow sell/buy process.. you get money also slow

this process is just like selling your car to a used car dealer.
you want fast and easy, find a used car dealer, get a quote, satisfy then sell.. thumbprinting and the entire selling process is smooth and easy but the price you get may be lower than expected
you want higher price, then sell it off yourself, but gotta entertain lowballers, ppl asking just for fun, ppl wanna see the car then who knows may be carjack you.. lol.. even if you get to find the right buyer and your target price, you need to go jpj and handle yourself the entire process of transferring ownership.. but it may take months to sell..

also, lol.. I see TS might have selective reading.. wanna reply some dont wanna reply some. kek..
want the best, the expect to pay..
the world doesn't give free lunches..

Supply and demand la

penny wise pound foolish

I think the discussion has gone a bit off track.

Looks like the focus has derailed somehow..

I'm looking at very macro stuff, not that extra 1% or whether agent is competent or not. I am talking about competition and free market.

Let me realigned the whole discussion into a simple story.

Imagine your house pipe is leaking and you want to look for a plumber to fix it. You search around your area, u found 6 plumbers. Those 6 plumbers are coming from 2 major companies only

You asked for quotation and all 6 quoted u , 3%.on house price

No 3% , they won't do. You try to negotiate but they said it's in the Standard and that's the maximum fees they can charge. They know their leverage.

You try to look for plumber from other area who will accept 2%. You found none. To your suprise, most other plumbers in other area are also coming from the big two companies. Suddenly, you realise that you're "trapped" without choice.

No plumbers will accept lower than the maximum fees of 3% because their colleague will pitchfork them. They're from the same 2 big companies.

You don't know how to fix a leaking pipe and to hire plumbers, it's very expensive because none negotiable 3%.

At the end, you are wondering what will happen when the Standard increase fees to 6%. They said it's due to inflation but forgot the property prices already increased and linked to inflation.Yes,that's double counting.Maybe it's time to quit your professional job to become a plumber. Finally, u learnt your economics lesson on price fixing.

This post has been edited by boyboycute: Dec 1 2023, 10:40 AM

dont fret
lawyers also give discounts
Even doctors also can give discounts for cash paying patient.
in highly competitive fields, everyone has to give discount. Unless able to create sole provider or monopoly

I guess is a monopoly / cartel market out there that tries to protect property agent's right at the expense of vendors. I work in the legal industry and even with the solicitors remuneration order we are expected to lower our fees below the prescribed rates for "competition reasons". I guess what I'm trying to say is with more players in the market or platform to advertise property sale hopefully the rates will be negotiable.

nowdays i see split commission also worth it.
the real estate group many incentives.
subsidize u to buy house, buy luxury cars, trips etc.
My niece bf 23 years old only, baru joined them 1 year saja.
company subsidized him RM250k to buy a RM380k BMW 5 series, then each month additional RM1000 installment.
then i forgot how much they subsidized him to buy a RM800k condo.

They're hardworking. Nothing wrong with that. I truly appreciate people who dream big.

i didn't say anything wrong.
Just just amazing how these millennials earn money.
as long rezeki halal, not tipu/scam people then can la.

The title of topic itself already controversial.

Commission is mutually agree. As muture people, willing seller willing buyer. Not need to speak any just to evoke emotions.

If I am subsale agent, I will just reply sorry if it 2% I can't make it, you can try finding other agent for help. Thank you.

Why want to evoke like childish sell it yourself lah.

A professional know what is they paid, but a non professional (majority 1st time seller) of course have their right to judge a people professional and their pay.

Now a day, the Ren entry is lower, spm leaver can be Ren it's true, so if TS facing those newbie bad attitude agent like to evoke emotion talk then I cant help them.

But for real professional specialist they worth the 3%, because their salary paid at 2 (find unit) and (sell unit). Somemore they have valuation of the area, ready customer (keen follow up for long) for that area. And a lot of connection (banker & lawyer) that are efficient & not too far form that area (easier to both part to signing) can help the seller and buyer transection the house and make both party peace of mind.

If the seller think ready want to save the money 1%. Then can liaise with other agency agent to sell via property search engine portal. You can ask the agent to sell and offer 2% at whatsapp.

But for those agent meet infront of you they are putting their effort drive to the taman and inquiry your unit to sell of course they will request 3%.

Of second if you want to save 1% money, you can set target to agent lah.

Example 700k property 1%= 7k extra.
So you set if selling 700k 2% commision, selling above 720k 3% commission lah. It's cover your loses and it's also increase your revenue.

This post has been edited by Aldo-Kirosu: Dec 1 2023, 10:54 AM

Wah, I already re-hack the issue into plumber story, still you wanna linger around micro issues.

Please focus the discussion on market competition and free market concept.

Well, time has changed...

Now you can see the tactics being employed by real estate agents...

Hence now you can see they even advertised for you to contact them if you have something to sell. It is like a network nowadays, the agent who found a seller will get a part of the commision, and the agent who found a buyer will also get a part of it. You can start to see why it is getting inflated. I think it wont be long before it went up again.