Posted by
ACM83
18 yrs ago
I'm moving to HK at the end of April. Trying to get some help finding a serviced apartment. I ran across an ad for Landmark Asia Realty, they look fairly professional. Does anyone have any experience working with them? What kind of finder’s fee will I be looking at?
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ldavy
18 yrs ago
I have no experience of Landmark Asia Realty, but I can tell you that the going commission rate in Hong Kong is half a month's rent. This is paid by both the landlord and the tenant.
If you're looking for a serviced apartment, I wouldn't bother using an agent. You don't need to, you can go direct and save yourself the commission.
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Ed
18 yrs ago
Why not contact the apts directly:
http://hongkong.asiaxpat.com/property/serviced.asp
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ACM,
It's ok to use an agent to find a serviced apartment just as long as you make sure you don't have to pay commission on your side.
Sometimes agents still make commission to help clients find serviced apartments, because the serviced apartments' landlords pay them. They make less money than if both the tenant and the landlord pay, but it's better than nothing.
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ldavy
18 yrs ago
LostnShanghai, as an agent I can tell you there is no way that an agent will accept a client who says they're not going to pay commission! We are supposed to be paid commission by both the landlord and the tenant. Everyone expects to get paid for working, and I can assure you that estate agents are no different.
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I know what I'm talking about. Not all agents have to accept commission for finding *serviced apartments* from the tenant.
I'm not talking about finding regular apartments.
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ldavy
18 yrs ago
Neither am I, specifically. But I still would not suggest to anyone that they try and find a serviced apartment through an agent, if they are not planning to pay the agent any commission. They are likely to get very short shrift.
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Idavy, I don't know which insular, large, expat corporate agency you work for, but the reality of local agencies is very different. And plus, I'm aware of how much some of these large, expat agencies charge HR just to show clients around for a day, when there are plenty of other agents who'll do it for free.
It's perfectly possible that you don't know everything about your profession. It's a never-ending learning process even for pros.
Some agents make it clear that there are no commission fees with finding serviced apartments from the tenant. As said, the landlord will compensate them either half a month or even a full month. You didn't know that? Either way, it's better than nothing from the agent's perspective.
Some agents don't always make a lot of money, especially in the larger local agencies where the basic salary is dismal and the commission is tearful even after a lot of effort, time, and transport money. Many agents have a work ethic of "why not, I'll do it, better than nothing" because many have an innate fear of financial insecurity as a result of not having substantial stable income.
Anyway, I'd just like to help the OP if you don't mind.
I can recommend a wonderful agent to help you find a serviced apartment.
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ACM83
18 yrs ago
I would appreciate that Lost, thank you.
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ldavy
18 yrs ago
LostnShanghai, I don't work for an insular, large, corporate or expat agency and we don't charge anyone for showing them round. I'm aware that I don't know everything about my profession but yes, thanks, I do know that serviced apartments usually pay commission to agents. As I'm supporting myself in Hong Kong and earn commission only with no basic salary, I have the "why not, better than nothing" ethic myself and have helped people to find flats when there's nothing in it for me by putting them in touch with other agents I trust when I don't have a suitable property for them. I just wanted ACM83 to be aware that most agents will expect to be paid commission by the tenant, whether it's a serviced apartment or not.
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