Singapore Expats

Has anyone come across dishonest or unprofessional realtors?

My encounter with one of their realtors recently has been rather unpleasant and I was wondering if anyone out there has gone through a similar experience. I was interested in a property which the realtor had recommended. I was rather keen but told the realtor I needed time to speak with my bank, get a valuation, get loan approvals and so on. Day after day, the realtor kept pestering me, asking if the bank had come back and pestering me to make an offer. Once, she even claimed that someone had make an offer and given her a cheque to pass to the owner. To my mind, that is the end of it and I should walk away. But no, the realtor came back to say let me know by tomorrow if you are keen. When I didn't, she came back to say, oh, the owner will now sell at this new price (lower than the offer that was made). I found it odd that the owner would do that - so obviously, all that was a bluff, fabricated by the realtor to get me all excited!

After I sorted it all out with the bank, I made an offer and the owner counter-offered. In the end we were a small margin apart, so I caved in and agreed. The agent then asked me to give her a cheque so that she could persuade the seller. This got me all riled up! What do you mean "persuade the seller"? I thought the seller had already agreed to that price? Obviously, the agent had gone ahead and made representations without consulting the owner. Also, perhaps they intended to use my cheque as a bait to other potential buyers to start a bidding war. Which is not surprising, considering the fact that an ad has been placed in the papers today for the property (It was never advertised before). Perhaps, the agent thought she could get potential buyers to see the property this weekend, and wave a cheque in front of their faces to excite them and entice them into considering the property.

I refused to allow myself to be part of this mockery! So I gave the agent an ultimatum - that if the owner doesn't come back by a certain time, the offer will lapsed and I will walk away. The offer has since lapsed and I heard no more from the agent.

Such low-down tactics are apparently very typical of realtors in Singapore. It's truly unprofessional and disgusting and a total waste of the buyers' time. This is why I've never liked realtors and this incident has only served to reinforce my repugnance for them.

It is therefore darn obvious

rupertstreet wrote: Such low-down tactics are apparently very typical of realtors in Singapore.

Its the same around the world, its never "Those estate agent" its always "Those F-ing Estate agents" In the UK a property Misdescriptions Act 1991 came about to try and force some sort of control.

Here there is no such Act, so when you meet an agent here and discover the 2900 sq ft pad is actually 2300 sq ft facing the road not the greenery, they just shrug their shoulders and say "dunno lah fren messure for me", the agents know you cant really do much about it.

We just found a school chum of my wife just became an agent so we are sticking with her like glue. When we meet up at viewings with her and other agents, we just pretend we don't know her, later at dinner we can get the low down on what the other agents are discussing.

There are good agents and there are bad ones.

Try to get referrals from people you trust.

rupertstreet wrote:Has anyone come across dishonest or unprofessional realtors?

Such low-down tactics are apparently very typical of realtors in Singapore.

You're not serious, are you? Have you ever rented or bought in another country?

Real estate agents are very closely linked with used car salesmen . . . everywhere . . .

Can't get a job? Call yourself a real estate consultant/manager/advisor and rent out crap for gold.

Vaucluse wrote:
Real estate agents are very closely linked with used car salesmen . . . everywhere . . .

And lets not for get double glazing salesmen, a breed that has yet to reach these sunny shores.

QRM wrote:

Vaucluse wrote:
Real estate agents are very closely linked with used car salesmen . . . everywhere . . .

And lets not for get double glazing salesmen, a breed that has yet to reach these sunny shores.

Now that's an idea for someone god help us!

ksl wrote: Now that's an idea for someone god help us!

That might be ksl considering the noise come the hungry ghosts festival (or whatever its called).

QRM wrote:

Vaucluse wrote:
Real estate agents are very closely linked with used car salesmen . . . everywhere . . .

And lets not for get double glazing salesmen, a breed that has yet to reach these sunny shores.

And a very special breed primarily found in the US........ Aluminum (note spelling! ) Siding Salesmen.

With Singapore real estate agents go in as if they had your child hostage and you have to negotiate to get her back alive and not chopped into tiny pieces, and no thats not extreme.

Treat the agent not as your friend but the slimy middleman that they are, the owner well they are often in a similar boat as you but it pays not to trust them much as well.

get things in writing and be willing to walk away if they wont play fair as they will just keep turning the screws, also seeing the owner face to face, talking to them will cut the middleman scumbags out as much as possible.

I have also found that being very upfront in advance with the agent to the tune of "if you try any tricks I will walk" works wonders as well, also get their card and call their boss if they have one, raising merry hell over the phone can work wonders and help lower the blood pressure.

But in the end get one that has been referred is the best way to do it if you cant just find an owner, but again be wary, their job is to get your money not help you.

Reading through this thread I keep wondering do we have to hire a real estate agent? I mean is this a must? Can we do it ourselves?
Anyone here have ever bought or rent a flat without hiring an agent?

Yan

sure you can do it yourself, it requires more work (looking online, this forum is a start) and more foot work etc etc but it can be significantly cheaper and a lot less uncertain and ambiguous and its been done before so good luck and happy hunting.

It is true that agents the world over can stretch the facts - however I personally have only ever come across the "give me a cheque which i will use to persuade the owner" practice in Singapore. There are a host of other practices and i can speak first hand as i have bought two properties in Singapore. It is the lack or lighter regulatory regime around agents that gives rise to these malpractices.

srman wrote:It is true that agents the world over can stretch the facts - however I personally have only ever come across the "give me a cheque which i will use to persuade the owner" practice in Singapore. There are a host of other practices and i can speak first hand as i have bought two properties in Singapore. It is the lack or lighter regulatory regime around agents that gives rise to these malpractices.

Come to Malaysia . . . they will initially ask you for the cheque made out to them . . .

Come to Thailand . . . they will try to tell you that 8 months bond is normal . . .

Come to etc etc etc

Quasimodo wrote:

srman wrote:It is true that agents the world over can stretch the facts - however I personally have only ever come across the "give me a cheque which i will use to persuade the owner" practice in Singapore. There are a host of other practices and i can speak first hand as i have bought two properties in Singapore. It is the lack or lighter regulatory regime around agents that gives rise to these malpractices.

Come to Malaysia . . . they will initially ask you for the cheque made out to them . . .

Come to Thailand . . . they will try to tell you that 8 months bond is normal . . .

Come to etc etc etc

Quais is back!

^ My visit to the beauty spa took longer than expected, saint