For sale
Pic small

The beauty about being a REN is that you get to meet all kinds of people with different personality. And at certain times, my advise to those newbie is that, not every deal can be done, and you really have to learn how to let go and walk off.

Wanted to share this story with the world, as everyone knows for the past 2 years it had been the Buyers Market, meaning  that the property market is full of new and old property for the buyers to shop around before making a decision. Unlike the good old days, whereby you can literally sell one property at each viewing, time taken to transact a sub-sale transaction is between 4weeks to 6months. (oh this is only for sub-sale residential, and there are even some commercial property and land that takes ages to transact)

The function of a REN is actually to act as a middle person between buyer and seller, and on top of that, you also provide market trending to the owner since you are the SME (subject matter expert in this). And there are certain times whereby owner just refuse to listen.

For e.g. A Condo in Pandan area (past transaction value is selling at RM300 to RM350K) and there is this owner that suddenly approach you (well in the matter of fact, they approach more than 10 to 20 agents at a go) and telling you that they are desperately selling it off at RM400k and to most newbie, they will find that "Wow, the agent actually wanted me to sell their property, and I do not even have to look for my own listing) so you will end up working very hard to obtain the photos from the owner and started posting online (by paying credit in Mudah, iproperty, propertyguru and so on)

What you do not realize is that, there is new PR1MA home and affordable home that is around 850sf, 3R/2B exactly same size with the property that you have (which is a more than 20yo property and not even well taken care off) selling at RM300K plus minus. Not to mentioned there are other property in the surrounding that is even selling below market value from your current property.

Few weeks down the road, the Owner would give a call to each and every agent that he/she appointed and asking why the market is so quiet and there is nobody interested in their unit (despite the fact they know their asking price does not even make sense). 

Now when you give the owner the facts about the market condition, surrounding competition, the owner will end up coming back to you and asked you "How much should I sell if I would want to let it go Urgently", despite the figure that you gave them, which is not something they are looking at, they will still come back to you on whether there are any chances to sell it off at RM400k. (which you and I both know that is the price they are looking to sell the property off)

Seller will tell you one million of reasons without realizing that the price that they are asking is not realistic, and at the end of the day, they would just be wasting your money for publishing the listing in all the property search website.

Now my question to you is that, if you encounter such customer, would you be wasting your money doing such publicity for them for free, knowing that you are not going to sell it at this price (not to mentioned that the bank value might not even reach RM350k) in the first place. 

The key takeaway is that: Not all business are worth while to invest and when you tend to invest in something please perform your own risk assessment instead of blindly following others. 

SHARE THIS TOPIC


Pic small

@domng 

yup :)

Img 5409 small

@imronaldsoo if you can show them some facts like recently property transacted price will be good for them to know what happened.

Signature 28 logo  custom  small

@Nic. Do you mean sites likes  as shared by @imronaldsoo?

65648440 2406793556070448 9165628430648082432 o small

@imronaldsoo thanks for sharing