AskGuru Q&A Community

Get answers from PropertyGuru experts in 24 hours

Asked by
Upon signing the otp form, my agent let me sign a seller exclusive form. I am not aware there is a clause whereby forfeited deposit will share half with the agent.Buyer withdraw and i got the $1k deposit. My agent is not protecting my interest throughout the deal and now demand for the cash. Can I reject his demand? Or must i really give him half of the share?
0 •
1369 views
Upvote Upvoted
Want this question answered?
Get faster responses from our experts by upvoting.
Be the first to upvote this question.

4 Answers

Ander Ang
Replied
Hi Worried Lady,

If during the signing of the seller exclusive form, the agent did not highlight to you this clause, i would think this is mis-representation. But again, only both of you are present during the signing of the form, thus difficult to prove.

I would suggest you talk to the agent again. The last resort would be to bring up to CEA.

If you need any further assistance, please contact me at 96836230  .

Thanks,
Ander ERA Read More
0
Upvote Upvoted
  • PL
    Replied
    My family is around and sure he did not mention about this clause but he insisted he did mention. What should I do?
Mike Lim
Replied
Morning,

Your salesperson is to explain all clauses to you, stated with Form 5 (Seller's Exclusive). If he have not fulfilled his duties duly as per page 6 and 7, you can try to talk things out with him, prior to bring it up further.

FYI
Mike Lim
 96929209 
ERA Read More
0
Upvote Upvoted
Ander Ang
Replied
Hi worried lady,

If your agent already submitted the transaction to his agency, then with this clause inserted, naturally his agency would require you to give half the deposit.

Actually looking at the longer term, if the agent allow you to keep all the forfeited deposit and eventually close the deal with another buyer, he will have more to gain. But without knowing the exact details, my thought may not be correct.

You can call me at 96836230  to discuss further.

Thanks.
Ander ERA Read More
0
Upvote Upvoted
  • PL
    Replied
    Thanks for your reply. I think since I have sign the form,I have to give him half of the forfeited deposit. But I have lost trust in him and in fact I used to believe this agency has good reputation but after this agent. I doubt so. He still can ask for the exclusive listing after failing to protect my interest from the beginning to the end.
Ander Ang
Replied
Hi Worried Lady,

You should engage another agent to sell your property. But make sure you read thru all the clauses before signing any form.

Should you require my service, pls contact me at 96836230  .

Thanks.
Ander ERA Read More
0
Upvote Upvoted

Still looking for answers?

Get answers from PropertyGuru experts in 24 hours

Ask Your Question
Previously Asked Questions