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Discussion in 'Egypt property' started by realestatemart, Jan 20, 2008.

  1. Dear Forum MembersIn Hurghada REal Estate Agents Charge Buyer 2.5% of the property price against Agent services plus tour to have an idea about different properties, do you think this is ok how it should work?
    Also finishing sometimes a problem because buyers expect to have easily same standards Like Europ with cheap prices!!!!!!!!!!!
    Sometimes buyers expectations doesn't meet the real life prices and ways that it became..
    I wish to find a way that agents, sellers and buyers live in the same world that it don't became like a fight who is right and who is wrong???!!!!1 difficult to say!!!!!
    Trust is a matter of experience of people you know so How we build the bridge of trust in this community!!!
    Wish to know your opinions and solutions
  2. awahee123

    awahee123 Banned

    Hi realestate,

    I don't think anybody would mind any agent receiving their rightful commission as many provide a valuable service to their clients.
    What buyers require from my point of view are truthful statements from agents,builders/developers and property to be finished on time or near the dates given.
    What buyers also expect are good finishing standards with good build quality backed by a comprehensive building guarantee usually 10 years.
    As we all know the Egyptian property market is definately taking off and the builder/developers are making very good money,so it is only fair that the buyers expect excellent developments for the right price with fair maintenance charges.
    Any other services that are offered are a bonus for the buyer.
    If an agent shows you around 10 properties and doesn't create any interest just remember he is the loser,on the other hand there are situations where the agent will sell directly off the web without any viewings.
    So the agent is doing some work for you from the point of contact right upto and beyond you receiving your keys.
    It is a job and yes I agree everyone needs to show a profit in the business world, just be fair and look after your customers then you will not have to advertise, your customers will do that for you.
  3. what a great opinion Awahee123
    sure you are correct about all what you said the problem sometimes the clients choose the wrong person or wrong agent who makes others looks bad, problem in Egypt sometimes the developers don't have this mentality of gurantee or maintenance fees this you find in individual developers like a person who have a land and money and just build a building and sell the flat and that is it after he finish selling all the flats his role is fininshed and all on the flats owners in the buildingso the concept of yearly maintenance fees doesn't exist but the prices are fair and we tell how much we charge from begining and if there is any point we should clear we should do as its number one periorty is honesty.
    On other hand someclients are realy difficult and expect more than it realy worth what they want to pay.
    And I'm telling you good agents even should make follow up with the buyers even after delivering the key till they adapt in the new community and be aware of the world arround and never to hesitate to help if they need or ask for it
  4. lyndsay552

    lyndsay552 New Member

    As long as the agent is up front about things from the start then everyone should be happy. The big problem I've been having is that websites are not being up-dated on a regular basis. It seems that everyone is wanting to sell property in Egypt and there are hundreds of websites but no-body is taking the time to update them. As a buyer it is really, really frustrating when you find the ideal villa, send off for information and the price has jumped by 25%. This doesn't happen over night and if the agents kept their websites up to date it would save this frustration (and the feally that you are being conned).

  5. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    I am amazed that according to realestatesmart Hurghada agents are charging clients for property finding services! Agents get paid by the Developer and commissions are very similar wherever you buy.
    Most agents are interested in one thing; happy clients, both before, during and after their purchase.
    There is absolutely no justification in my opinion for charging clients a finders fee.
    Our role quite simply is to find the best property for our client according to his/her needs. Get it wrong and we lose a client forever; get it right and we gain a friend forever. Its that simple.
  6. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    I agree with you Lyndsay. Thanks to Nick Egypt Real is updated daily although many agents with static sites have to wait weeks to get changes made.
  7. awahee123

    awahee123 Banned

    It's a matter of agents taking time to make these changes,some daily.
    If I ever enquire about a property on the web as I did recently and the price comes back £10000 more then advertised I don't even bother to reply to the agent, if they can't be bothered to update their sites they deserve no business from anybody.
    Regarding talking about agents charges if everything is agreed upfront then that is ok, whatever agents charge or commission they receive they will always make money but what SOME won't ALWAYS do is tell you the truth.
    There are a few exceptions and I have seen a few that are really helpful on this forum (mentioning no names),this is where the agent gains respect being helpful even though they didn't sell you the property you purchased in the first place.
    Please do not start sending me pms about this post these are my thoughts and like yourselves I am entitled to my opinion.
  8. AAgents Charges

    its realy 100% true that real agents charge the client 2.5% but those agents are telling form the begining about these charges they don't make it as a surprise for the buyer so its not a hidden rule that might makes the client angry and all work this way, sometimes not but in this case some agnets not all took this money from other side from the seller by increasing the price which is not honesty in my opinion so isn't it better that you have a realy helpful honest agent who tells you everything and even if it might makes you think to buy or not? isn't it better to find someone who digs in every details of the property to be safe and no one steal your money??? isn't it good that this agent do all this, plus the time they spend in finding the realy nice properties that meets the client requirments???? sure the agent take from property owner a percentage but sometimes this percentage as you know is 2.5% so!!!!! what you think?????
    Also don't the agent in your opinion deserve to be paid for these services.
    i don't think the client will be sad or agent will lose him or her if the agent do all the best for the client to find his property and get paid and why not become friends if you see that your agent is realy honest and never try to lie about any thing??? truth is most important thing in any human or business relation its not about Money its about time, effort and work hours the agent desrve to get paid for isn't it or what???????
    Last edited: Jan 21, 2008
  9. NeilHollingsworth

    NeilHollingsworth New Member

    Having read many of these threads and posts it seems to me that there are many agents not fulfiling any of these points. I am amazed at the amount of people left to fend for themselves against developers and agencies. The point about websites being kept up-to-date is a good one. If you look on websites many agents put the properties on at the initial pre-release or low price and never update the price. I try to keep mine updated as much as possible and increase the price as the cheaper ones are sold. Who do you think gets all the enquiries????? It has come to a point where i feel i need to lower my standards just to make sure i get enquires through. I then read on here that all the people that have bought from other agents are now having so many problems. I have helped everyone that has got in touch with me and will continue to do so but will that stop people using these agents? No. Do i need to change my ways and start to advertise lower prices knowing they are not available, probably, yes i do.

    All agents reading this any chance of updating your adverts????
  10. No Need to

    I think if you are honest and its the right way people will recognize this so keep the way you do its the best to be honest
  11. dave99

    dave99 New Member

    Valid complaint - not easy to fix

    Valid complaint - not that easy to fix.

    I've had numerous people on the phone complaining to me about other agents web-sites with old prices - it would seem to be quite widespread in the UK.

    I think most agents / developers can keep their prime sites up to date but the more obscure ones get forgotten, particulary the ones where the advertising agency does not allow a direct link back to the prime site.

  12. propertastic

    propertastic New Member

    I get the feeling that some developers actually use most agents' laziness as a selling point for their developments.

    I have seen so many developments where they have a couple of cheap studios for sale, but then the rest of the properties are way more expensive (actually Sara's Residence is an archetypical culprit in this case, as much as I like its value for money).

    So the majority of sites out there probably have Sara's Residence listed as 'from GBP15,000' or something, whereas ours is 'from GBP30,000' as this is the price for the cheapest units that are currently available these days.

    I'm sure that a lot of customers just do a bit of Googling and think that we're a bunch of thieving scoundrals for trying to charge twice the price. When they approach an agent asking about the GBP15,000 units and find that they've already gone and that only GBP30,000 units are available, I can imagine that a lot of them just carry on the conversation rather than come back to us and the other sites that update info on a daily basis and so we lose out.

    Oh well, win some, lose some, I guess.
  13. Agree

    I agree wit you Egypt Real some agents and sites do this to attract clients to get in contact with and then tell the client OHHHH the unit with this price just sold :) now we have so ans so with real pricesa and availabilities that uptodate sites got it so some lazy clients go on with this agent whereas other clever clients see its cheating and can't trust so those who decide to contimue only with updated and clear agents are the clever ones i guess
  14. dave99

    dave99 New Member

    Not perfect but probably true

    Lowest priced unit not being available - this is true in many marketing campaigns not just real estate.

    The problem is that if one agent / developer does the lowest price advert then many more HAVE to do it to compete. Most buyers are aware that this happens but they are still very annoyed once they decide to actually phone up and ask. If the diffence is not too big then maybe thats acceptable but maybe a 30% differences is too much.

  15. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    Dave99 is right all agents and Developers advertise a range of prices from the lowest to the highest but it is always the cheaper ones that sell first. This means that unless you are in control of your website it quickly becomes out of date. Its the same with advertising boards outside projects; they are quickly out of date as sales progress and prices rise.
  16. I hope they can even update the signs as it cost nothing should be updtaed and honest not leave it sooooo old
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