Posted by
sayyee
19 yrs ago
Hi all
We're thinking of buying a property in hk side, but seem to have some confusion to the prices, we went to 2 places to view from 2 different agents and the asking price for the same flat was different for both. So the question I want to ask is;
What is the real asking price of the flat, and if the agency gives you a price, approx have much are you meant to deduct to give a return price?
much appreciated for any advice
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Assuming the property is in a large development, the easiest thing is to look at the recent transaction reports for units of similar size/view/floor number in that building and bid accordingly: ignore the asking price, which - as you have discovered - is at the whim of each agent. The transaction reports list the actual prices paid for all transactions in each development in the last 6 or 12 months - it doesn't matter whether the property is new or 20 years old.
If your agent can't/won't give you a copy of the recent transaction reports, you are using the wrong agent. (The info is publicly available from the Land Registry, anyway.)
An agent will always tell you that the market has risen dramatically in recent weeks since the reported transactions and that they are therefore a poor guide. Just nod politely and ignore this, as two minutes later the agent will be on the phone to the vendor telling him the market is FALLING dramatically.
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much appreciated- am well cheesed off with our agent. Being new to home purchases we just gave them the price that we were willing to pay (around 7% less than the asking price) and they came back with answer that we needed to raise the amount more and what was our botttom line.
Acutally our bottom line was the price that we gave them, then the agent said " You're joking right? Don't play games with me"...I mean, what the hell does that mean- we specifically didn't take an Easter break this year bcos we were flat hunting. (and this is the 1st flat that we viewed with him). Anyway, after that he's whole attitude changed and he put the phone down. If ever he calls again, I'm gonna to give him an earful.
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It won't make you feel any better, but I'm afraid we've all been there!
If you take a deep breath, it can almost be amusing... on one occasion I was selling an apartment in my name and my wife was using her (maiden) name to find our next one... in the space of half an hour the same agent (not realising he was dealing with two halves of the same couple) had called me to say I should accept a lower offer on ours as the market was falling, and had called my wife to say she should raise her offer on the next one as the market was rising!
Anyway, which area are you looking in? If it's MidLevels West or Cyberport, I could PM you an agent who would do a decent job.
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We too are house hunting, we looked at one place - was told by one agent it was 7.9 million not negotiable, another agent tried to show it to me, i told her i had seen it but asked her what is the asking price and she said 7.5 negotiable. The place was a dump and needed at least a million dollars to do up, so wasn't too interested anyway, but it was interesting to note the difference in agents prices. I suppose they have to make a living somehow......
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They do have to make a living but this Centaline agent told me that they only have to make 60,000 HKD in commissions per month. It ain't hard to do in this kind of market.
Some of these agents, bleh.
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What i get annoyed at is when I contact an agent, tell them what I want, am prepared to stay with them if they give me service and help me find a place I want to live in...they take all my details and only one will get back to me..and then dump when they find out how cheap I want to be....I then have to start again, and again,.....
Finally I found one who not only stuck by me...but found the place I want to buy through listening to what I wanted (after showing me some horrors and me recoiling and telling her off to not waste my time) she then rang every owner in a few places that I was interested in living in and asked them if they wanted to sell...absolutely going the extra mile. She has worked so hard for my commission in the after finding portion by looking up and talking to government depts, finding builders for quotes for repairs etc... I am really impressed that i feel a little bit (not much) guilty in negotiating the % of sales down by 20%.
I think that the real estate agents can become very lazy in a market that is recovering...
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kmmhk
19 yrs ago
dimac, would you mind posting/sending me the details of your agent. I've been looking for a few weeks and can't find the right salesperson to help me with my search.
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I am in Sai Kung - is this where you want to look?
Michelle from Ricacorp is who has been helping me.
I have had bad experiences with Ricacorp in the past (very pushy sales people) as I don't think their base salary is very much so they have to earn their money through comissions but Michelle - although has been very persistent in calling me etc has been very pleasant and gone the extra mile to help me.
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I just went through the process of buying an apartment. Because of the good experience I had 4 years ago with Michael Leung of Midland Realty (HK Island), I used him again. When I first met Michael 4 years ago, he was a junior realtor. He found the perfect apartment for me back then. Four years later he's a Senior Sales Manager. Both times I had a very good experience with him. Michael's mobile is 9026-8241 and another Midlands realtor,Jerry Or, mobile 6117-2008, was also very instrumental in finding me the right apartment this time around. Both Michael and Jerry finalized the deal on my apartment. I felt they both worked very hard for me -- deal was finalized at 11:00 at night! This is the Hong Kong way -- negotiating into the night! Good luck in your search.
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