Hi All,
I have a general question to ask. I want to know the experience of others when buying plots. The dilemma is that whenever i buy a new plot, i usually pay 40 to 50 thousand extra. However, when i sell i usually get exact amount of money or 5 to 10 thousand less. Let me tell you one of my experience. (PS: this is not against anyone neither to discourage someone :))
Last July, I bought a file in DHA-9. At that time the file price was around 16 lakhs. However, i paid in total 17 lakh 75 thousand. I was surprised when i saw at least 3 property dealers who showed up at DHA office. It took me sometime to understand who is the seller in their group. My perception is that property dealers chain-up to each other. So when i asked my property dealer to arrange a file for me, he may have contacted another property dealer, which may have contacted another .... and eventually reaching the potential seller.
Is this the reason that i ended up paying little bit more money because then they will have to divide commission with each other leaving less room for profit margin? I am just wondering if my property dealer was sincere to me or he just ran to pick a seller without caring about my money? :)
Please leave only positive replies detailing your experience.
Thanks
Ahmad
never replied on Monday, February 14, 2011 02:53 PM
mr ahmed
only fewer estate agents r honest and sincere. i appreciate mr mujahid yassen having fair dealing,it is not because i m using his plateform but it is because he is a straightforward personality. i also became a victim with other estate agents and then decided never ever believe them now or never. |
Jameel replied on Monday, February 14, 2011 05:12 PM
90% of deals are dealt like this, Good dealers have their own advertising network and get commission from both sides. But most of deals are like this, You goto dealer A and tell your specific requirement [more specific the requirement more longer can be chain] He knows other dealer who usually involved i that area, If that dealer also does not have seller then he calls C.
More Important is also your body language If You know how to deal and keep on telling your dealer that I shall pay only this much and if they deviate then threat to quit, the chain usually agrees and divide the Commission.
Worst scene is if the Property is with owned by some other dealer on Biana, Then deal become more difficult. |
Guest replied on Monday, February 14, 2011 05:14 PM
Ahmad sahib you are right, only few property dealers have direct clients. I will suggest in future you may deal through one who is having direct clients ie sellers/purchases |
DHA replied on Monday, February 14, 2011 05:17 PM
Mr Ahmad: I think you got duped. There is absolutely no way that one is ever required to pay more than 1% commission whether the deal involves one dealer or 100. You should just pay 1% to the dealer that you called and it is his problem to compensate all other dealers in the chain. This is not just a suggestion but a recognized practice in the market |
shoaib116 replied on Monday, February 14, 2011 05:22 PM
I agree with DHA as I did the same. |
Azad K replied on Tuesday, February 15, 2011 12:02 AM
Agents should get commission from only the seller. If they get comission from the seller and the purchaser then there is a conflict of interest between selling for the maximum price for the seller and buying as cheaply as possible for the purchaser. |
abc123 replied on Tuesday, February 15, 2011 03:30 AM
One dealer from Islamabad cheated and inflicted me with a loss of Rs. 350000/- thru a fraudulent deal with a third party. Of course this money was Haraam on his part but who cares in this business.
I was very hurt due to this betrayal but could not do anything. I left this issue to be decided on the Day of Judgment. |
JI replied on Tuesday, February 15, 2011 03:54 AM
Not all propert dealers have sellers coming direct to them. Whenever a buyer comes, they have to 'pick the plot from the market'. So few plots are direct deal wth single property dealer involved, other wise most are chain sellers. |
LRE Hot Topics replied on Wednesday, March 23, 2011 06:46 PM
Post added to LRE Hot Topics list |
