to you 3% sounds expensive, but think about it from their perspective lo..
you sell 1 house for RM 1m, 3% is like 30k to them..
but then.. what's the effort needed for them to earn?
To advertise - already a cost to them.. need to fork out money advertising before even earning
To bring potential buyers to view the property at the buyer's time, means agents themselves might not have much free time for themselves..
if hot area, many potential buyers but that doesn't mean many really will buy the unit. some just wanna see and compare..

then what about the split in commission between agency and the agent?
out of the 30k, how much will the agent take? if 60:40 split between agency and agent, then agent take 12k.. but yet need to do so much..

still need to help you handle some lawyer things and then liaise here and there between buyer and seller side..

if you think 3% is expensive, then you can do it yourself ma..
but can you keep up with the works and viewing requests from potential buyers?

Neighbour help you open door, easy money for them la. RM 1k part time job, only open door when requested, who doesn't want?
But neighbour will help you do those purchasing agreement and help you nego with seller or not?
will help you advertise around online or not?
may be help you do some calls around potential buyers?
got list of potential buyers?

last time 2%.. bro last time mcD also only rm 15 max.. now RM 20++

Standard says 3% max, then they go for max la..
if your unit and the surrounding units can sell for RM 1million max, would you sell for RM 800k?
make sense?



Steady, there's always wifi hotspot from your mobile carrier..
and its true, no one pointing a gun to your head forcing you to subscribe to unifi
you can always do the above, or in this case, sell the unit yourself. nobody forcing you to appoint agent/ agency to help sell your unit..
but then appointing an agent may be the best solution, same goes to subscribing to unifi..
better and steadier than mobile hotspot..

since it's the only solution, then what's the problem?
does that 1% really have such a big impact when the property is worth so much?
all the hassle really worth saving that 1%?

lol.. so because the transacted value is high, they don't deserve to earn it is it?
you think ppl work for free meh?

its like "eh you know malaysia tax revenue from us rakyat is RM 100b eh... we pay so much tax for what? not like got benefits for us also"
then you complain.. x% is too high, I want y%

hotel also got cheap and expensive ah..
wanna ban airbnb, then have to go for hotel la..
nobody forced me to take an expensive hotel.. I can go to those shady cheap 3 stories shop lot 2* hotel also ah..

you dont want to pay the 3%, then find one agency that doesn't specialize in that specific area. 2% charge, but might take a longer time to sell off.. then.. would you be happier then?

these sort of complains, will have a never ending discussion one..
if legally agency / agents are allowed to charge for 3%, then why can't they charge 3%?
if they wanna charge 2% for more volume, also can ah.. that's up to them.. but 2% with higher volume, does that not affect their annual transacted value?
3% sell less, but more money at a time
2% sell more, with lesser money at a time..
in the end also comes back to x amount..
so....

if tech doesn't progress, a developed country will not be produced, that is bad for country's income.
that agency you mentioned, provided service at a much lower price, disrupting market that other providers could not compete, it is also bad..
one must provide service where its reasonable and able to have a competitive market..
airbnb vs hotel - hotel rooms only are affected, but they got other sources of income.. not only from providing rooms to tourists, but company contracts, event halls, banquets.. plenty to earn
also, got cheap and expensive airbnbs..
incomes from airbnbs are also taxable .. so income for government also..
grab vs taxi, honestly if taxi drivers were so shit, they wouldn't be affected that badly... Its only because they provide bad services, tamper with the meter and not reliable that it got eliminated.. Otherwise probably might be able to fight.. or sustain

law will always be a few steps behind the tech as new techs being developed and implemented, law will always be doing the catch up to protect the users..
but if legally ady stated 3% charge, agencies charge 3% as the max that they are legally too.. then what's the issue?

like if Bank Negara Malaysia states all banks are legally allowed to charge interest up to 15% per annum for personal loan, then all banks implement that 15% interest per annum
but you're short on funds and wanna take a personal loan and thinks 15% is too high.. then what can you do?
you don't like, then don't apply or can go find ah long, heck might even be higher than 15% later..
or just don't borrow at all and go broke..
what's your take?

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..

there's no need to even talk about companies consolidating into 1 big organization
when there's needs/demand, people will always take advantage of it..
you wanna use plumber, i give you same example..
nowadays doesn't matter which plumber you ask, come to fix a leak easily is ady rm 120 and above.
just an inspection ady rm 80
whether is the job shitty or not, that's to be judge later..
and these aren't even from '2 companies that are only in the market/area'
they know what's the current market rate, then they follow... its that simple..
even if you find someone online like fb marketplace or mudah or wtv portal that provides plumbing services, they will follow the market rate..
cuz why go cheaper when that's what ppl are paying for now?
unless they are totally new company, wanna get some free advertising while earning lesser for a few months, then okay maybe they'll fix leaks for you at RM 80 instead of RM 120..
after some time, they got their existing client base, they'll fix for RM 120 as well..

like you said, free market and market competition..
market rate is at such rate now, they charge the same la..
why? cuz they can... and nothing regulates the max price for services like these..
willing buyer, willing seller

that bolded sentence, in the end, its still a regulated market. It's not free. It might be more competitive but what makes the companies can't be owned by the same person / group right?
then in the end it comes down to same bosses, controlled by a big few big shots in the industry. Honestly, no matter what industry to be used for comparison, there's no exactly "free market".
You only think it's free, but in reality it's not. Companies will always follow market rate whenever someone starts something.
Will only be cheaper when they are new and trying to penetrate into the market competing against existing players. Once something has been dominated or able to have a large enough customer base, they will follow the market rate.