IN my country, property agents are not well trained or specialized person to run business. Some perform individually while other set up firm. I think those firm needs to register at government to operate legally. However most of the property agents are moving individual so as to avoid government income tax as well as raise profit. They are mostly considered smart and clever person who has big social cycle. In fact, this is just matter of information only because they gather information of sellers and looking for potential buyers. Then arrange to meet both parties and try to make the business done. From every successful deal, they receive commission from the seller mostly which can cost 5% to 10% of the property price.
Since they are mostly running illegal way, they are on the other hand not taking responsibilities of consequent due to the hidden risks involved. That's why buying a property in my country associate with the in-detachable hidden risks. If everything goes right, there would be no problem. But as a buyer like me who cannot afford to be any mistake need to take extra care and time. The problem is I don't have much time to explore the market. I wish to spend only 1.5 days in searching a suitable flat. It make me taking mission impossible with regard to aforesaid things to be considered.
Believe it or not, my first ever property agent was a taxi driver. How? We took his taxi in going appointment with a property agent. On the way, we are talking about our business and he knows our mission by listening our conversation. He asked us if we are looking for a flat. We said yes and he come out with an information which he claims a chance to grab. After listening to him, we decided to follow him to witness the sale flat. He insist that we'll not like any other flat in that quarter after we see his. In fact, the flat is belong to his friend who is away from the city at the moment. We see physical condition of the flat with the help of him and take note for the asking pricing which he mention for in-discountable price. We took his mobile no and depart for another agent appointment.
The second agent is a woman of middle age who is also resident of that quarter. There are some flats on the market through her links. She continuously showed us one after another. Since our budget is about 12 million, we can't imagine lower flats. Thus, we are shown level 4 and above flats. Some are old but quality of flat is considered good. Some are new but quality is compromising. Some are yet to finish but already on sale and can buy with little upfront. Some are still in the plan but can buy installment with fraction of flat value. Every flat she shows, she is strongly recommend to us. It's obvious that she wants us to buy one flat so that she can enjoy commission from flat owner. We're carefully considering upon the information she provides.
All the flat she shows us are hall type with/ without renovation depend on price. The major withdraw of all flats are not healthy to live in. Because the apartment buildings are being built side by side and they are too close, I think about 1 m apart only. That's why flat windows become meaningless as there is no chance to welcome enough lighting and ventilation to breath. I am not happy to see them all but I can afford such type only. I can get room-type flat only I am afford to buy condo type flat which is far beyond my budget. I'm distraught to make a decision within a relatively short time. I understand the situation of the market and ask agent to let me think and reply later. I asked myself if I can live in such condition in future and my answer is very clear NO. Then I asked if it's good enough to invest in such fragile property to make profit in long term. Also NO. Then I tell myself better don't buy such flat if I am not happy with what I am doing. Then we tried to contact another agent contact for different township. We continue to discover the uncertain flat in the mega city.
We took another taxi and the rain fall down to cool my worry down on the way to another township agent. I quickly thanks to Yangon's famous rain.
To be continue.
Since they are mostly running illegal way, they are on the other hand not taking responsibilities of consequent due to the hidden risks involved. That's why buying a property in my country associate with the in-detachable hidden risks. If everything goes right, there would be no problem. But as a buyer like me who cannot afford to be any mistake need to take extra care and time. The problem is I don't have much time to explore the market. I wish to spend only 1.5 days in searching a suitable flat. It make me taking mission impossible with regard to aforesaid things to be considered.
Believe it or not, my first ever property agent was a taxi driver. How? We took his taxi in going appointment with a property agent. On the way, we are talking about our business and he knows our mission by listening our conversation. He asked us if we are looking for a flat. We said yes and he come out with an information which he claims a chance to grab. After listening to him, we decided to follow him to witness the sale flat. He insist that we'll not like any other flat in that quarter after we see his. In fact, the flat is belong to his friend who is away from the city at the moment. We see physical condition of the flat with the help of him and take note for the asking pricing which he mention for in-discountable price. We took his mobile no and depart for another agent appointment.
The second agent is a woman of middle age who is also resident of that quarter. There are some flats on the market through her links. She continuously showed us one after another. Since our budget is about 12 million, we can't imagine lower flats. Thus, we are shown level 4 and above flats. Some are old but quality of flat is considered good. Some are new but quality is compromising. Some are yet to finish but already on sale and can buy with little upfront. Some are still in the plan but can buy installment with fraction of flat value. Every flat she shows, she is strongly recommend to us. It's obvious that she wants us to buy one flat so that she can enjoy commission from flat owner. We're carefully considering upon the information she provides.
All the flat she shows us are hall type with/ without renovation depend on price. The major withdraw of all flats are not healthy to live in. Because the apartment buildings are being built side by side and they are too close, I think about 1 m apart only. That's why flat windows become meaningless as there is no chance to welcome enough lighting and ventilation to breath. I am not happy to see them all but I can afford such type only. I can get room-type flat only I am afford to buy condo type flat which is far beyond my budget. I'm distraught to make a decision within a relatively short time. I understand the situation of the market and ask agent to let me think and reply later. I asked myself if I can live in such condition in future and my answer is very clear NO. Then I asked if it's good enough to invest in such fragile property to make profit in long term. Also NO. Then I tell myself better don't buy such flat if I am not happy with what I am doing. Then we tried to contact another agent contact for different township. We continue to discover the uncertain flat in the mega city.
We took another taxi and the rain fall down to cool my worry down on the way to another township agent. I quickly thanks to Yangon's famous rain.
To be continue.
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