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Are Property Agents Trustworthy?
- Thread starter peterlth
- Start date
The title should read "Are people trustworthy?". Answer: "Some are, some are not."
That covers it all.
That covers it all.
Director who disappeared with investments used to be property agent
Mr Lee Song Teck, 35
Bachelor and only child of pig farmers. His father, a gambler, died when he was 17.
Took over family's animal pharmaceutical business when he was 20.
Used to be a property agent. Ran a fitness centre, property investment seminar business and gold trading firm, Gold Guarantee, which is being investigated by the Commercial Affairs Department.
Listed as director of The Discovery Group, which offers "long-term holiday products".
Lives in a corner terrace house in Hougang. His mother bought it for $1.2 million in 2004 and it was worth about $4.5 million in 2012, he said in a previous interview.
Drives a $1 million Bentley sports car, which he called his "dream car", and BMW 5 series model.
Invests in real estate and gold: His gold investment portfolio was reportedly worth $30 million in 2012.
First Singapore property investment was a shophouse in the Golden Mile Complex.
Owns property in commercial building in Tianjin, China, an apartment block in Central London and commercial units in Kuala Lumpur.
The Consumers Association of Singapore said he has been uncontactable since January this year. The New Paper also tried to contact him, but could not reach him. His disappearance left clients - some of whom invested more than $1 million in gold - stranded.
- See more at: http://business.asiaone.com/news/di...s-used-be-property-agent#sthash.NUAf9Kqi.dpuf
Mr Lee Song Teck, 35
Bachelor and only child of pig farmers. His father, a gambler, died when he was 17.
Took over family's animal pharmaceutical business when he was 20.
Used to be a property agent. Ran a fitness centre, property investment seminar business and gold trading firm, Gold Guarantee, which is being investigated by the Commercial Affairs Department.
Listed as director of The Discovery Group, which offers "long-term holiday products".
Lives in a corner terrace house in Hougang. His mother bought it for $1.2 million in 2004 and it was worth about $4.5 million in 2012, he said in a previous interview.
Drives a $1 million Bentley sports car, which he called his "dream car", and BMW 5 series model.
Invests in real estate and gold: His gold investment portfolio was reportedly worth $30 million in 2012.
First Singapore property investment was a shophouse in the Golden Mile Complex.
Owns property in commercial building in Tianjin, China, an apartment block in Central London and commercial units in Kuala Lumpur.
The Consumers Association of Singapore said he has been uncontactable since January this year. The New Paper also tried to contact him, but could not reach him. His disappearance left clients - some of whom invested more than $1 million in gold - stranded.
- See more at: http://business.asiaone.com/news/di...s-used-be-property-agent#sthash.NUAf9Kqi.dpuf
Real estate and insurance agents are overpaid salesmen. They charge many times more than the value they add.
He's an only child of pig farmers, his father was a gambler and his family had an animal pharmaceutical business???
I couldn't agree more.....and not forgetting bankers too.
What about singaporean politicians?
Yes ...bankers, financial advisers, wealth managers ...there are lots of scam artists in the financial industry.
lawyers are also overpaid. They just BS their way through and it's not even their oratorical skills in the courtroom but their seniority that determines if their clients wins or lose a case.
The ppl that literally work for their money would be ppl doing blue collar jobs.
Movie stars or rather ppl in the entertainment industry are overpaid. Do you think someone like mark lee deserves his huge paycheck that allows him to have so many investments?
The ppl that literally work for their money would be ppl doing blue collar jobs.
Movie stars or rather ppl in the entertainment industry are overpaid. Do you think someone like mark lee deserves his huge paycheck that allows him to have so many investments?
All the PAP politicians are scumbag, even worse than Tey. For the opposition MPs, most of them are decent. Other opposition politicians like Goh Meng Seng, they are just opportunists ...they will even sell their children to become MPs.
That is the biggest statement of ignorance, I have used both buying and selling agents and made hundreds of thousands or even millions more for me and these poor salemen only make a few thousands for themselves....which salesmen can ever save or make you that kind of money?
When selling, I always instruct my agent to negotiate with buyer to pay more and I will up their comm as incentive, you will be surprised how they can get you the extra....in the end win-win, he earns. When buying, I always ask my buying agents for the "special list" of distressed properties...sure I have to pay to get priveledged information...but I can make serious money buying distressed property overnight, you don't pay, you don't get.
Use your brains....agents make you money and they are worth the small pittance commision of 1 or 2%.....if you dont know how to use agents don't blame the system for your ignorance and stupidity....many savy investors know how to make money from agents. The public needs to be educated....but then again....better not......the more stupid people out there, the better for property investors.....Cheers.
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Eh li kong simi lanjiao....since when are there a differentiation between "buying" agents and "selling" agents n singapore????
obviously you are a dumbfucker who doesnt know that there is no separation of such conflicts of interests in sinkieland for estate agents.....
Are you an aussie??
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Your ignorance is my gain. Conflict of interest issues is what led to further differentiation between buying and selling agents in every transaction. Agents cannot represent both parties at the same time.
Agents are the biggest swindlers and cheats. Yr trick doesnt work most times. They will try to dispose of yr prop at the easiest terms and lowest bid they can get. If the price diff between the highest quote but he has to jump thru a lot of hoops, and the next lower bid which is an easy sale, is say, $50,000, that 1% is merely $500 to him, and he might as well quickly close the sale at the lower bid and make that fast buck than to struggle for you just to earn $500 more.
If we are talking about $500,000 properties, $5000 in hand is worth $5500 in the bush or even nothing if both withdraw.
Yet another trick is to avoid letting the seller know about buyers who come with their agents but who may have bid higher because the seller's agent doesnt want to co-broke and get less. So he will try to give the chance to the buyer without an agent even tho he quoted lower so he can pocket the entire fee himself.
Agents use every trick in the book to close the sale, even if it means sub-optimising the owners. You think you are in control? Think again! They are controlling you!
If we are talking about $500,000 properties, $5000 in hand is worth $5500 in the bush or even nothing if both withdraw.
Yet another trick is to avoid letting the seller know about buyers who come with their agents but who may have bid higher because the seller's agent doesnt want to co-broke and get less. So he will try to give the chance to the buyer without an agent even tho he quoted lower so he can pocket the entire fee himself.
Agents use every trick in the book to close the sale, even if it means sub-optimising the owners. You think you are in control? Think again! They are controlling you!
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Dude, you don't care what price the damn agent offers u, u set your own sky high target, if he doesn't reach, u just don't accept simple. Same when buying if he doesn't bring you something on the plate that is a bargain, don't buy.... U must be dumb to accept what the agent offers.
Dude, you don't care what price the damn agent offers u, u set your own sky high target, if he doesn't reach, u just don't accept, simple. Same when buying if he doesn't bring you something on the plate that is a bargain, don't buy.... U must be dumb to accept what the agent offers.
I am just addressing yr argument the part about how you can incentivise them with higher comm if they negotiate to reach a higher target price. I am saying that precisely it wont work and they will cut you the first easy price thye can get a decent comm. No point trying harder for that, as you say, pittance 0.5 or 1% more.
Sometimes, they cut a deal with the other side agent to rip you off. Thy have all kinds of shenanigans to pull wool over yr eyes. You dont even know if you have been ripped. The unknowable unknown. So he who laughs best laughs last.
Sometimes, they cut a deal with the other side agent to rip you off. Thy have all kinds of shenanigans to pull wool over yr eyes. You dont even know if you have been ripped. The unknowable unknown. So he who laughs best laughs last.
