Originally Posted by
LytSlpr
if you are just an agent or even a broker but no firm you get a maximum of only 2.5-3% but there is a workaround this one if you already know the ins & outs of the industry.
...and for this workaround to be prevented by usually smaller projects or conservative developers, they only give a 1 time flat referral fee, take it or leave it kind of thing especially if they have a well developed project in a nice location, so they are confident that the project will sell by itself with the aid of advertising.
some smart buyers also prefer to purchase a property WITHOUT any agent or broker so that they can enjoy a cheaper or a much discounted purchase because there is no more add on for agent's or broker's commission. this is a definite win-win for the developer and buyer. the only "so called downside" to this though is if you are not familiar with the project thus the need for an agent or broker to research and disclose all that you need to know about the project.
but in my opinion, in this country, with or without an agent or broker, if there is a problem with the project or developer they can still get away with it anyway because the agent or broker "usually" will do anything to close the sale even without practicing full-disclosure. in short luto-on lang ang buyer sa iyang kaugalingon mantika mao na diri na mag sugod ang lalis, away ug kiniha-ay.
buyers on the other hand should also do their homework by making a research on the legitimacy of the project and its corresponding title at least at the Register of Deeds or Bureau of Lands and SHOULD NOT take the agent or broker's word for it because you have a conflict of interest man even if the agent or broker is your relative because some of these people ALSO do not do their homework because all they are after is stock inventory of properties to sell.
i am even puzzled why brokers and agents are selling projects which have questionable titles mostly high end projects. there is 1 in seaside project in talisay, 1 overlooking project in pardo, 1 overlooking project in labangon and 1 seaside project in mactan. i know for a fact that seasoned and veteran agents know this but they DO NOT TELL their potential buyers.
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