I received an SMS from a Real Estate Negotiator (REN) recently. She asked if one of my condo units were available for sale. I told her I have already sold it earlier but I would love to know if there are any apartment / condominiums that I can buy for RM250,000. She SMSed me a reply. In her exact words, ‘RM250,000 can only buy a flat.’ I am sad. If she is a good agent, she should at least note that for RM250,000 there are definitely choices around even if it may not be those luxury, high density or even the usual more popular areas. Sorry to have some expectations for RENs here in Malaysia because I feel that if you are earning a commission from me, it should involve much more than just some calls and accompany me in my viewing.They should preferably have the following:
More knowledgeable than the average buyer. Truth is, a REN who is able to also give professional advice is much better than one who knows nearly nothing and only focus on just the price, the price and the price. The person should at least know what’s the overall property market of today. It is not enough that the REN knows about slowdown. The REN should know where some opportunities may be.
Be an investor themselves. Yes, if you are also an investor, it will force you to know more than just simply buying. Once you are an investor, you can then speak the language of the buyer too. Besides, once you are a buyer, you would quickly note that not all condos are RM800,000 and not all flats are RM250,000. Come on, if this is the case, bubble has burst long time ago. Have the fears that the buyer has as well.
Good listener and communicator. If someone asked you a specific project with a specific target price, chances are they already have some prior understanding. It does not hurt to ask a few more questions after running some search online. Chances are the buyers can feel that you are pro-active and serious.
See, my requirements are so few and I would already treat you as a good REN. Yes, I have many REN friends who are excellent in their fields. Perhaps that’s why they are doing very well. Okay, maybe all these boils down to the inadequate property knowledge training from their agencies. If this is the case, then I think my article is aimed at the agencies. Are you a good one or just another one of the usual, ‘I know little’ type of agencies? Happy soliciting services from those who know very slightly more than the usual buyer.
written on 1 June 2015
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Comments
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Yes I certainly agree with you that majority of the agents dont do any homework. Just like the remisiers. Very soon they will be put out of the job. Also when you mention some low price houses/flats, many are just put off. Maybe they will get less commission. I also experience this scenario from many agents.
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ogs88, i think it’s ok that they are put off. Some other agents would gladly take it up instead.
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Personally, i hardly to give trust to agent, based on my experience, there is agent but not all used to be two snakes head when talking to difference parties (buyer and seller) in difference story… although…it might be considered as technic for them, to me, it is not a professinalism. in the other word, their objective is to focus on the commissen more important than your requirement and expectation. With this type of agent, they are commission-oriented type than professional.
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there are good agents and there are agents who only talk when the ringgit flash in front of them. Unfortunately, too many are driven only by the RM and do not spend enough time ensuring they have the necessary skillset and knowledge to guide buyers. The flip side is also true – many buyers don’t care about the details as long as they will make money from their investments. Both sides need to up the game. Buyers need to ask and demand more, agents need to be better prepared and professional. Then, we will all have higher confidence participating in the market
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Real estate agents are the front-liner of the property market. Please give double thumbs up to them (only to those good real estate agents).
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