I REFER to last Friday’s letter by Singapore Accredited Estate Agencies, ‘Untrustworthy? Not property agents’, and beg to differ from its over-optimistic and illusory views of property agents.
Recently, I saw a property and after some negotiations via an agent, confirmed the purchase. I was scheduled to make a 1 per cent payment for the option to purchase that evening. I arrived slightly early and was surprised to see the agent showing the unit to other potential buyers.
When I confronted him, he tried to explain it away. That evening, I was not given the option to purchase. The agent gave a lot of excuses. I was upset. I went to the owner’s home and learnt that the owner did not know we were supposed to close the deal that evening.
The property was sold to another the day after the evening I was scheduled to accept the option to purchase.
I am disappointed there are no regulations to curb unscrupulous agents who manipulate transactions to their own benefit, at the expense of the seller or the buyer.
Source : Straits Times – 8 Mar 2010