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What is Your Experience with Property Agents

Had quite an experience with property agent from one company recently.

1. First, the agent was late for 20 minutes.

2. Then the other agent who was with her who sounded more senior told me that one of the selling point of EC is that the 5 years Minimum Occupation Period (MOP) starts from the time you place the deposit unlike for new HDB flats.

3. The property is near the expressway but the agent brushed off the fear of noise from expressway saying that the property is 100m away from the expressway.

4. I asked about getting bulk discount for introducing my wife’s colleague on the condition that both buys and get units there. The agent brushed it off saying that the commission they get is 0.03% (which translates to $210 for a property worth $700,000). I bought a flat 9 years ago paying 2% commission for my agent who pocketed about $6,000 for a few days worth of work. She said that i will get a token of appreciation. Maybe a stuffed ‘Hello Kitty’?

You mean after a few years of property market booming, the property agent fees has declined so much?

Because of the whole experience, my wife and I will probably not go for the EC despite the homework that we have done to check the background of the information for the development.

I went to read about the details of what is needed for EC transaction, Googled the property to check the location vis-a-vis the property and found that there is a slip road in between the expressway and the development, plus the fact that there is a large embankment and the expressway is below this, which will go some way to minimise the noise.

I even read a academic paper by someone who went to measure the noise level at different heights of a HDB flat next to two different expressway to find out the conditions at which the noise from expressway affects the decibels level at different levels and at different times of the day.

All the basic things which a property agent should have done proper homework on? Or am I an ass for expecting basic correct information and the plain truth plus common sense.

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