U pay for the service worth, the 3% is justify provided the REN is capable of advising.

Don't forget the REN specialize at XX area because they have database on the transacted value in the past 10 years, so when u sell they will advise to set at certain price to get the right price.

Secondly, they have to advertise it with their own cost, be it website iproperty, mudah, property guru, physical banner etc. All this come out with their own cost.

Thirdly, the hassle of viewing, the agent has to entertain many viewers and follow up the case, imagine 20 viewers within a month, all this come with a cost.

The whole process will take at least 4-6 months to get it done, unlike rental whereby the deal can be close within a month or two. Most importantly for a seller is, whether the agent is able to sell it higher than transacted price for u.

Report that agent! No such thing on charging Buyer agent fees.

Report that agent! No such thing on charging Buyer agent fees.

all agents in penang practice this

The below kena all agency/agent in Penang really fun.

Subsale are stupid in Penang

penang and i think jb also like this

you can try report and try. no action based in feedback from.many. There is a loophole I think, they issue the receipt differently to buyers..not stated comm.... maybe disbursement charges and also have a signed copy buyer will to pay those charges.....

but it is acceptable in my opinion since seller also pay mostly 1%>

Only few property company follows such. But majority are not. As buyer, check before you sign anything.

Everything I ask upfront and show them this, thereafter they will admit cannot charge buyer and followed by this usual practice in Penang.

Have been dabbling in real estate for a couple of years now. Accumulated quite a number, with hope of touching double digits in a year or two. My interactions with agents with regards to my own properties, have been close to zero. Only for my first sale and my first rent out, I engaged real estate agents. Thereafter, the subsequent transactions (buy or sell), all done on my own.

Yes, I acknowledge there is some work to be done by agents, but 3% (in most cases, where the absolute amount of the transaction is high) is way too high for me. Likewise, 1.25 months gross rental is also very high.

After doing it myself once or twice, there is alot that can be learned. For one, whatever savings that I save, I pass a huge chunk of it back to the buyer and this is highlighted. This can be very significant in dollar terms, to reduce the price by 1%. For a RM1mil property, that's RM10k, which is a nice sofa and huge TV for the living room - FREE.

Buyer has saved this money and I always make it a point to remind them of this. By removing the middle man, both parties save money. This isn't just for the real estate industry, but for any other industry. Transportation, FMCG, financial, insurance...etc.

So how do I sell or rent the property without a real estate agent? Simple, if you ask me. Key is always the property itself. Make it different, make it attractive, make it stand out from the crowd. By mentioning that this is direct owner dealer - less hassle and savings upfront from commission markup, is a benefit itself. If the property (regardless for sale or for rent) is already attractive, it can stand on its own, any successful deal by an agent is just a step to complete the process. Likewise, if the property is crappy (not attractive, not realistic asking price), it will be almost impossible to sell, regardless of how many real estate agents one engage.

I spend bare minimal on marketing to be hoenst. The platforms that I advertise on, are all free to use. The likes of Mudah, Facebook Marketplace and SpeedHome, that's how I get it done.

Any real estate, regardless of which town, city or state in Malaysia, am confident that I can easily market and sell it on my own. The notion that an area is dominated by a specific agency or two, and that once has to go through them, is a utter bull$shit to me, sorry to say.

So, that brings me to my next question - are real estate agents still relevant? Well, it's a willing buyer, willing seller. Or in this case, a willing customer, willing service provider. For those who know nuts abotu the process or simply don't have the time, then yes, real estates are there for a reason. And there's a cost to their service, which although is on the high side (as what I've mentioned), is still regulated.

No right or wrong on this topic, but for me, nah, it's OK, I'll like to do it on my own. Faster, cheaper, better. :-)

Just sharing my two cents and experience. Peace.

Most constructive comment so far I totally agree with you Dr :thumbsup: 3% bite is "daylight robbery" camouflaged under "agent fee" and made possible due to sellers' laziness to learn or ignorance about property market