Asked by Anonymous
Hi I got an agent to get tenants for me.Since it's my first time renting out the whole unit,I did not know what should the standard or market value for the commission. I expected the agent to to be honest in explaining.Actually she told me that 1 mth commission will be charged.So I taught it's a 1 time payment and agreed.She got a corporate who need to rent the whole unit for their workers who are nurses.So the HR,coporate agent and my agent and 1 of the worker came to view the unit.The unit is fully furnished and newly renovated. They saw the whole unit and was happy to rent for 2 yrs.They only wanted me to remove the beds due to hygiene purpose.Actually I wanted to rent out for 3k because the renovation is only about 3 yrs old and all rooms got build in wardrobes.The corporate agreed for $2800.Since I have to solve my financial issues I agreed.Corporate want to put 6 workers.So I agreed.Mine is a 5 room HDB flat.Both of us agreed.My agent prepare the agreement documents and explain to me.But when she prepared her commission documents.She charged me 2 mths rental excluding gst.gst charged separately. I question her that she mention 1 mth rental but how come now she saying 2 mths rental.2 mths rental is a lot of money to pay as commission. I paid close to 6I just for 2 yrs rental including gst.She mention that I misunderstood when first she mentioned 1 mth rental.So I taught maybe I could have misunderstood so I paid the amount.I did sign the commission agreement without realising that she have stated there that I agree to pay 1 mth commission if tenants agree to extend.
After the whole process completed I started doing my survey and also put in my complain at property guru.
Majority of them agreed that I was overcharged above market value.
Even some agents ask me to call them and they explained that I could have negotiated if not I can reject the agent and look for an agent who charge you market value as most of the agencies now follow market value/standard commission due to competition.
Now the question is after knowing that my agent was not honest and she only want to make high profit and made use of my weakness to overcharge me then I would not want her as a agent anymore.
Which means if corporate wants to extend the contract I will not pay the agent any commission as she have already taken 2 mths commission for 2 yrs instead for 4 yrs.So I wont be paying her if there is an extension.
Or if she insists then I will be referring the matter to CASE.
After the whole process completed I started doing my survey and also put in my complain at property guru.
Majority of them agreed that I was overcharged above market value.
Even some agents ask me to call them and they explained that I could have negotiated if not I can reject the agent and look for an agent who charge you market value as most of the agencies now follow market value/standard commission due to competition.
Now the question is after knowing that my agent was not honest and she only want to make high profit and made use of my weakness to overcharge me then I would not want her as a agent anymore.
Which means if corporate wants to extend the contract I will not pay the agent any commission as she have already taken 2 mths commission for 2 yrs instead for 4 yrs.So I wont be paying her if there is an extension.
Or if she insists then I will be referring the matter to CASE.
104 views