Reason 03 - Constant Communicated Expected Between Real Estate Agent and Buyer

Prices of properties vary from village to village, or from city to city, depending on the current market assessment value. Once trust and confidence had been established between the buyer and the real estate agent (or broker), a constant communication and consultation should take place.

Finding out the true assessment value of the desired property is very important. The buyer should be constantly informed by his agent on the marketability and the market assessment condition of the property.

Market assessment value means the actual marketability of the property, as reflected by the growth of economic activities within the area. Prices of the real estate products may also vary for the short term and the long term. The buyer’s agent should be able to monitor accurately the exact market value of the property, so that he can negotiate a good pricing scheme with the property owners.

The growth movement of the property’s market assessment should also be considered by a buyer, to measure and project his possible return-of-investments (ROI). This shows the importance of knowing the movement of property values in the past few years and the projection a time-bound increase in assessment value.
Purchasing a real estate is not as easy as buying a commodity or consumer item, no matter how expensive it will be. It is surely a complex process for which only an partner and seasoned player in the industry can do. It is for this very reason that a buyer should need the partnerise of a property broker to do the job.

Although real estate brokers are partners in negotiations and making through the nitty-gritty of various deals, a buyer should be very patient and understanding of their work. No progress in documentation occurs overnight, so it is in the best interest of the buyer to let the broker complete the process under expectedly routine or normal pace. Buyers should know the challenges his broker may encounter in the process of closing a deal for them.

It is almost always possible that, aside from them, there are other interested buyers out there who may be willing to jack the price up, over and above the market value assessment cap, in order to get the property. Situations like this more often challenge the broker’s integrity and he will end up supportive of your purchase agenda if you are at least nice to him and could communicate with him any time.

Buy, Sell, Rent, Invest, In Singapore

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com

KF Property Network Pte Ltd
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