Today topic is about how tricky agent steal more commission from co agent
How it's work?
Cobroking is one of the key to close deal recently compared to traditional way SOLO way. Most agent are using CoBroking to find the right client for the right property. Again, let's see how smart agent mis-used it and make a greater income by fooling their co-agent.
A agent has the buyer
B agent has the right property
A agent call up B agent to Cobroke, after viewing and buyer like it
Preparing Letter offer to close deal
Suddenly, a hidden story come from B agent
B agent: "Hi, A agent, this unit actually I need to cobroke with my colleague too, do u remember the C agent who attend the viewing? We need to give one part of the commission to the C agent too. Could we make the commission to 3 parts?
That means B and C agent get 2 parts
Wth? Have you ever faced this kinds agent before? There are a traps here if you can see.
The C agent is it real? (I faced this before and after asking few questions to C agent and find out actually is a puppet, just attend the viewing, so B agent gain the reason to separate the commission into 3 parts. This puppet can be friend, sibling, wife, husband, boyfriend, girl friend or whosoever.
2nd, why this agent wait until want to close deal only mentioned about commission has to separated to 3 parts?
It is because newbie agent would accept and think inside themselves, it is better then gain nothing.
(Some properties are over million selling price, just imagine you are the agent who urge to earn income, would you simply just accept the offer? Even you know you are fooling by the agent, but you will still accept right? Ok, now you are telling yourself, no more cobroking with this agent. But who cares? He already earn the big part and so many newbie agent out there are can cobroke with him. The fact is, not many agent can realize)
It is depend on you, whether can accept or not, if you are fine, just go ahead, nothing wrong with this, at the end, you are still earning money.
For me, I don't like to be fooled and deal with low integrity kinds of agent.
Solution or you can called it a suggestion,
If C agent is just provide a listing for B agent to work, C agent should get referral only since C agent just attend the viewing and do nothing. Why want to share a big part of commission too? Since C agent not even get exclusive listing from owner, isn't it?
Thanks for reading, again, it is just a reference to Public, No harm, No offense, and No intention to gain reputation, thanks
Posted by K Y Wan on 07-Jul 2012
Every agent was newbie before, i also encounter those holding key wants to ransom me, i think most of agents encounter this before, or some owners will tell you this their brother, sister, uncle, aunty properties and need a cut.
I will tell them off i have my working principal. In fact, i m working less with cobroke nowadays, nothing to do with tricks nor i worry people steel my listing, i just dont want to waste time on shopping.
Posted by SamHoo on 18-Jul 2012
truth, i agreed to K Y Wan, cobroke = pening
Posted by SamHoo on 23-Jul 2012
part 5 coming soon rite?
Posted by Barry Low on 28-Jul 2012
I can write more, However
Busy expanding business and viewing non stop,
We slowly write and post it after complete 1 part by 1 part
Actually stop writing already for 3 months.
Posted by RS Lan on 31-Jul 2012
..and i thought most of the agents that i cobroke with are genuine when they say theres another party that wants a share of the cake...hmmmm...but like you said for newbies a deal is a deal and is better than nothing..the problem that arises from these scenarios are when you really and genuinely have a third party that is involved especially in land deals or those multi million ringgit property...there will always be these kind of people anywhere..in real estate is much easier cause its difficult to determine or justify due to afraid of losing that deal...sad but true...and being professional in this profession is not meant for some that will eventually spoil the whole industry especially those honest and sincere agents....just my 2 cents..cheers.