PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
May 10th 2016, 6:49 am
#16
peterparker
Joined: Sep 2007
Posts: 196
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
I am used to the norm where the buyer and seller each pay the same fixed percentage of the sale value to one agent- it is then upto that agent to split fees or not depending on number of middlemen involved.
As both buyer and seller are paying the fees, if the sale value goes up marginally, its mostly the agent who benefits, not the seller. Therefore, deals are quick to execute as you dont see selllers holding out for a ridiculous $2000 or even $ 5000 on a property deal.
Same logic with the rentals.
Though more and more, it has become the norm to sign a "fixed amount" contract with the agency so that it is not in their interest to constantly upsell.
Of course, all this seems very far away from how Dubai works.
As both buyer and seller are paying the fees, if the sale value goes up marginally, its mostly the agent who benefits, not the seller. Therefore, deals are quick to execute as you dont see selllers holding out for a ridiculous $2000 or even $ 5000 on a property deal.
Same logic with the rentals.
Though more and more, it has become the norm to sign a "fixed amount" contract with the agency so that it is not in their interest to constantly upsell.
Of course, all this seems very far away from how Dubai works.
May 10th 2016, 9:34 am
#17
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
Sadly just now finding out this is not entirely true - for sellers anyway. You can be told you won't have any commission to pay verbally then get sent a vague form by email to sign in a hurry and send back regarding commission when they say they found a good buyer - being told other 3rd party agents need to have their commission too. Then when this "good" arrangement falls through I find you are actually tied for the length of the "contract" which is 3 months to pay that exact amount of commission plus an extra AED6,000 for their "processing" of the sale - even if you sell through someone else probably during this time and/or get a lower price. This is a large agency. Seller beware.
May 10th 2016, 9:35 am
#18
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
I am used to the norm where the buyer and seller each pay the same fixed percentage of the sale value to one agent- it is then upto that agent to split fees or not depending on number of middlemen involved.
As both buyer and seller are paying the fees, if the sale value goes up marginally, its mostly the agent who benefits, not the seller. Therefore, deals are quick to execute as you dont see selllers holding out for a ridiculous $2000 or even $ 5000 on a property deal.
Same logic with the rentals.
Though more and more, it has become the norm to sign a "fixed amount" contract with the agency so that it is not in their interest to constantly upsell.
Of course, all this seems very far away from how Dubai works.
As both buyer and seller are paying the fees, if the sale value goes up marginally, its mostly the agent who benefits, not the seller. Therefore, deals are quick to execute as you dont see selllers holding out for a ridiculous $2000 or even $ 5000 on a property deal.
Same logic with the rentals.
Though more and more, it has become the norm to sign a "fixed amount" contract with the agency so that it is not in their interest to constantly upsell.
Of course, all this seems very far away from how Dubai works.
May 10th 2016, 9:42 am
#19
Forum Regular
Joined: Feb 2016
Posts: 36
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
But one would've hoped that emerging economies skip the transition cycle (they will get there eventually) and just adopt good practices. Its not as if the UK is middle-of-nowhere solomon islands, where the customary practices there, even if good, are not really visible/ familiar to the people in the UAE.
Why not look around and adopt what is good and evolved?
But its not a complaint. Its just sort of wishful thinking I guess. (Determined to start our move there on a positive high
)
Last edited by WowEyes; May 10th 2016 at 9:42 am. Reason: typo
May 10th 2016, 10:55 am
#20
BE Forum Addict
Joined: Jul 2008
Location: Dubai
Posts: 2,843
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
Better Homes are one of the worse agents to use...totally sh*t IMHO
May 10th 2016, 11:01 am
#21
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: PROPERTY AGENT RECOMMENDATIONS FOR JVT/JVC & AL REEM (ARABIAN RANCHES)
Agreed.
But one would've hoped that emerging economies skip the transition cycle (they will get there eventually) and just adopt good practices. Its not as if the UK is middle-of-nowhere solomon islands, where the customary practices there, even if good, are not really visible/ familiar to the people in the UAE.
Why not look around and adopt what is good and evolved?
But its not a complaint. Its just sort of wishful thinking I guess. (Determined to start our move there on a positive high )
But one would've hoped that emerging economies skip the transition cycle (they will get there eventually) and just adopt good practices. Its not as if the UK is middle-of-nowhere solomon islands, where the customary practices there, even if good, are not really visible/ familiar to the people in the UAE.
Why not look around and adopt what is good and evolved?
But its not a complaint. Its just sort of wishful thinking I guess. (Determined to start our move there on a positive high
)That way madness lies...
