Here in Malaysia most of the real estate agencies employ negotiators to sell and buy properties on behalf of their clients. Many people maybe out of ignorance do resent the amount of commission that they have to pay when getting negotiators to sell their properties. Here in Malaysia, under the law the agencies can charge up to 3% but in practice only 2% is charged instead.It is not surprising that there can be some resentment on the payment of the fees especially when services provided are substandard.
Most of the complaints against negotiators are that they are not professional when carrying out their services for instance arriving late for appointments, not fully well informed on pertinent details relating to the property, poor communication skills, no proper feedback to owners and no after sales service whatsoever. However, it can be seen that most sellers prefer to use a negotiator rather than selling their property themselves. The benefits of using an agent can be immense as they can offer a higher visibility and quantity of buyers which in turns saves the owner lots of time and hassle and being able to sell their properties at optimal price at times.
Some owners do not want to deal with strangers and having to show their property to potential buyers repeatedly. Some may not be familiar with the selling process and may feel more secured dealing with an agent. Negotiators have various resources to be able to market the property which a private owner does not have access to. Negotiators who are attached to the bigger and more established property agencies have high street visibility. As such, they will be able to find a buyer much faster than a private owner who is selling a property privately.
The property negotiators normally will vet the buyers to ensure that that their time is not wasted and this is possible as they have the relevant experience which a private owner may not have. A negotiator will be able to provide the facts quickly and efficiently as normally required by the buyers during the pre viewing and viewing processes.
The negotiatar can also maximise the chances of getting the asking price for the seller. Sometimes they have a pool of buyers from where they can extrapolate the most preferred price from them as they would know for instance which buyer is desperate to get a unit as soon as possible, and the buyer’s budget.
On top of this, the negotiators will ensure that all documentation pertaining to the rental and sale of a property are in place and they usua;lly have a network of bankers and lawyers to recommend to owners as well. Some good negotiators do go out of their way to make the selling process smooth and hassle free for the owners.
Overall it is worthwhile getting a negotiator to sell your property, and the commission that the owner has to pay is well worth it considering all the advantages of using one. In an ideal world, we could all sell our own properties but many of us in the rat race just dont have the time to do so.
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