News Hong Kong Property & Finance

Agent's commission on property purchase?

ORIGINAL POST
Posted by downradio 15 yrs ago
Hi everyone, appreicate your advice. I know all the agents in HK ask for 1% commission, but in practice, do people really pay that much or negotiate it down? Would really appreciate hearing what others have paid in practice to help me with my own negotiation..


Thanks


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COMMENTS
cookie09 15 yrs ago
we paid 0.3%

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OffThePeak 15 yrs ago
My approach is this: If the agent can achieve the "Target Price" that I give him, then I pay 1% commission. If he wants me to deal at a different level, than I expect him to "share in the pain." If, for example, he gets a buyer at $20,000 below my target, then I expect him to reduce his commission by $10,000, and my Net price becomes $10,000 less than my target.


This method gives him a strong incentive to hit my target.

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ArtfulDodger 15 yrs ago
Never pay more than 0.3%

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