Someone read this Earlier article here. and said that Real Estate Negotiators (REN) are only paid 3 percent of the house price, how to expect them to do more. They already spend their time, they already do their ‘job.’ Before I answer, perhaps we look at what is happening in the banking industry? Bank tellers who used to think they will have a job till the day they retire, doing the exact same thing day in and day out are now being phased out by banks. The major influencer? Online banking is now the key to customer service, not for the customer to drive for 15 minutes to find a car park, potentially getting a summon and queue up to complete a bank transaction and used up 1 hour just for the whole process…
OPENING DOOR REN. Any REN who believe that they deserve RM15,000 from selling a RM500,000 home just because they have the keys from the owner and they could open the door and they could switch on the air-con is grossly wrong. It’s not even the time spent because if it’s about time spent, door opening and air-con switching on, then any company could hire an admin staff and pay the staff a very high fixed salary to do the same thing. The 3% can be paid to the company instead…? By the way, that 3% fee is called PROFESSIONAL fee and there is nothing professional about opening doors again and again and sitting and waiting!
CONSULTATIVE REN. When I wanted to sell my condo in Kelana Jaya, it took 3 months and nothing happened. The price I put was RM430k. The REN in charge helped to arrange viewing after viewings. Then, one day I found another REN who had the nerve to say, ‘you better clean the house and you must repaint the home in order to sell it. It will cost you a few thousand in total but it will be worth it.’ I am like, I want to sell the house for money and you are asking me to put even more money into it before I could get my money!? He looks like a nice guy, so I listened and really spent the extra RM3k plus. He sold the home on that weekend with the first viewing. He sold it for RM460k which was an extra RM30k from what I was asking for. Tell me, which REN deserves the 3% fee?
Then, there are the talks that online companies will replace all RENs. Truth is, whether the online replaces the RENs or not really depend on the RENs themselves. Earlier article here. They could even take advantage of the online and use it to their advantage. Let’s remember one major reason why GRAB could get such a good traction in the market a few years ago. It’s because the main choice at the time, the taxis were really doing a bad job. Someone who is able to advise the potential customer about property investment basics, someone who is able to suggest ways to maximise the return on investment and even someone who is able to recommend the right properties based on the buyers’ investment profile, these RENs will continue to be extremely successful. So, if you are a new REN? Here’s an article for you. New RENs? Your friends should buy / sell through youHappy understanding.
<Featured Image is courtesy of Stock Photos from fizkes>
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