Scrolling your Facebook feeds, you frequently see paid advertisements and even from friends in the property industry posting on yet another “Best condo project! Capital appreciation!”
Immediately, a few thoughts zoomed past inside your head –
- With such potential, why is it not fully sold?
- Best condo? Who gave it such term?
- And perhaps, how much is the commission that the property agent is pocketing?
Being salespeople, property agents will market the project as attractive as possible. They try to entice you to click on their advertisement, call them and so they can start giving you their sales pitch.
But did you ever notice some project gets pushed more than others?
Commission is an integral part of an agent’s income and naturally these agents are more concerned on their dough that they can bring home.
Some property agents are more ethical than others and have your best interests at heart. I have encountered agents that will stretch your budget with no considerations of any potential lay-offs / retrenchment that might get you into spiralling into financial crisis – all for that higher commission.
You have to decide how best is your agent serving your needs or if there is a more obvious agenda behind.
Caveat emptor, my friends.