WARNING! THIS IS PERHAPS THE MOST CONTROVERSIAL BLOG POST THAT WE HAVE EVER PUT UP. IF YOU FEEL OFFENDED EASILY, OR IF YOU ARE FROM ANOTHER MALAYSIA REAL ESTATE AGENCY, THEN KINDLY EXIT. THANK YOU FOR UNDERSTANDING.
They know their cards and they know quite well how to play it on you. The better the realtor, the better they are at talking to you – making things seem better for you, without at all divulging the littlest hints of how it is going to be so much better for them.
Things A Malaysian Real Estate Agent Won’t Tell You
- You can actually negotiate on the commission fee. This is the biggest drawback to getting a realtor to sell your home for you. While it is truly understandable that real estate agents should get what they have worked hard for, there was nothing in the books that says you could not try to negotiate and bargain on it. On average, Malaysian real estate agents get between 2% and 3% of the total home sales which will then be divided between himself and the other bit players in the deal including but not limited to the buyer’s agent and the broker. They deserve the commission but you can always ask for a friendlier fee, especially if the home sale is where your next home depends on so negotiate before inking that contract.
- You may not exactly need an open house. Open Malaysian houses have proven to be efficient ways for realtors to advertise themselves, more than advertise the house itself to its potential buyers. It’s a good option, could possibly bring in some people but in essence it really is not necessary. If you don’t have the time, the energy, nor the desire to hold out an open house, then don’t hold one. It would hardly make any difference on the sale success. You see, the developers of Taman Puchong Utama didn’t even bother to put up a show house but the stock still sold like hot cakes!
- Your real estate agent cannot fully assess the value of your Malaysian home. Hire a professional appraiser to get a sounder, more accurate number for the current price of the house. The current market value of the house cannot be pinpointed in just a single glance; a trained professional will give you the number that will make your house sell quicker. Also, a good, honest and objective professional opinion on how much your home is actually worth will give you an in depth perspective of what improvements you may need to make to improve your house’s value in the market.
- There may be an administrative fee or something similar to go with the commission fee. After all, the real estate agents do most if not all of the work. Some charge it, some don’t. So be sure to check out every single thing stipulated in the contract so these types of things don’t take you by surprise.
- You can actually sell/buy your Malaysian home yourself. If you have the time, the guts and the patience for the job, you can actually pull of a For Sale By Owner stint and save you the cash on commissions. Of course that would be a lot of work but if you have the skills and the desire to do it, you may do so. But still you can do it by yourself, like posting or advertise in newspapers or sites like GoodPlace.my or iProperty.my. Agents are highly recommended but they are technically not necessary. I know I am getting some really bad reviews after this but I don’t care!
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