Marina One Residences- Who Do Real Estate Agents Work For?
No sale, no commission!
Although real estate agencies are mandated by an owner, who wants to sell his house or apartment, you must be aware that they do not work for this seller! In any case, not primarily.
Agencies work primarily and especially for the buyer, because it is he who will pay the famous agency(Marina One Residences) commission. Admittedly, this is included in the price you will pay, but they will not be able to collect it until the moment of the transaction. So no transaction, no commission!
Which means that you have their destiny in your hands, and that implies that they will do their utmost to make the transaction happen quickly, often by facilitating negotiations with the seller.
Negotiate with the real estate agency- Marina One Residences
In terms of trading, especially when you have an intermediary who can cash the shots (the real estate agency), you can consider that everything is allowed. While remaining within the bounds of reasonableness.
The point is to know where the limit of the acceptable is. Because if your proposal is aggressive, remember that it will be judged and perhaps rejected by 2 different interlocutors: the seller on the one hand and your interlocutor, within the agency, who can judge your offer too low .
The direct consequence, and even if the agency(Marina One Residences) has the obligation to do so, you risk that it does not transmit your proposal to the seller.
Two reasons for this:
he has a purely personal appreciation of your proposal (not always professional)
he fears to be sent for a walk by his client, taking the risk of seeing him pass to the competition.
Thus, you will never know if the seller would have accepted your offer, or if he was ready to negotiate on the basis of your proposal.
There is a relatively simple parade to make sure your proposal reaches the seller’s ears.
At first make your proposal to the agency. If this one refuses to present your offer, ask to make a 2nd visit in the presence of the owner, under the pretext that you are possibly ready to reevaluate your offer.
Once there, redo your visit, if only to be sure that you are always ready to buy, and make your proposal directly to the seller, even in the presence of the agency’s negotiator. I am not saying that you will succeed, but as I told you in another article, avoid negotiating on the phone. A vexed salesman, or one who does not take your offer seriously, will have more opportunities to hang on to you than to throw you out. A fortiori if you are courteous.
In addition, if the seller is in front of you, you can discuss and open the conversation to reevaluate your offer.
Another remark about the price negotiation with the agency(Marina One Residences). Without talking about the level of discounts you are trying to get, always ask for a better price. Do not be swayed by the agency that will pretend that the seller will not agree, or that the seller has already had proposals at a better price than your offer (I am sure you have already heard this sentence) . I can not tell you how much business I would have missed had I listened to the agency’s salesman.
To summarize, do not hesitate to ask and make sure that your offer reaches the seller. If you do not ask, you will never know the answer and you will never know if you have missed a bargain.
In any case, you have more to gain than to lose.Negotiate (again) with the agency- Marina One Residences
There is another way to lower the price of your acquisition is to negotiate the amount of agency commission. But I do not advise you to do it on any occasion.
If your goal is to buy your principal residence, do not hesitate to negotiate to the maximum. Since you are unlikely to need this agency in the coming months, you can afford to negotiate their commission firmly.
To negotiate agency commission, do not hesitate to ask what is the amount of this commission, and especially ask the commercial for how long the property is for sale and how many visits before you. If he answers that you are the first to visit and that the property is for sale for 10 days, you are likely to get a reduction in commission.
Because very often the agency(Marina One Residences) will be very happy to cash a commission, even negotiated, if it provided little work. Its goal is to “go out” products as quickly as possible, not to make a collection of ads that will decorate its window.
If the agency does not want to make an effort, at least at first, do not tell them that they did not have to work a lot. It’s a very bad speech. Imagine that your employer tells you “I will pay you less, because you did your job in less time than expected.” I am not sure you will appreciate.
Rather say that you must make a decision quickly because you are on another matter. Even if it’s not true. The goal is to put pressure on the agency. Negotiation is also bluffing.
As an investor, it is not always a good idea to negotiate the commission of the agency. If you buy regularly, you will be happy to have a “beater”, which calls you first as soon as a good deal comes.
Thus, I have had several times to outdo the commission agency, when I was before a good deal obvious. This allowed me to do a lot more behind, even more interesting because the agency(Marina One Residences Singapore) knew I was not going to try to take half commission.