Luxury condominiums

Rhombus Bangsar – Luxurious defined

Was at Bangsar late Thursday evening for a viewing with a British expat. This time, it was the Rhombus, Bangsar. For those who are not familiar with this development, it is actually located along Jalan Penaga next to The Cascadium. It is one of Benéton Properties’ pride in Bangsar after their well received ‘Bangsar Peak’.

Do take a look: http://rhombusbangsar.com/

The building is one of the most contemporary and stylish ones you’ll see around the area. It is nothing short of looking imposing and the dark themed architecture made it looked almost like a modernised version of Barad-dûr tower from LotR : The Two Towers. The sharp and planate feature of the building also did enough to distinguish itself from the rest of the condominiums around it.

There are 25 units across 13 storeys. Yes, a PH on the 13th for the big boss. Rhombus is not one of those typical condominiums around Klang Valley where you can have multiple owners from the units. This is a not-for-sale establishment and the to-let can only be managed through Benéton Properties themselves. The rental starts at RM17,000 and goes up according to the level. Most of the units offer 180 degrees of KL view and it’s remarkably close to BSC (Bangsar Shopping Complex). A very good location for expats indeed.

Myself and the tenant were particularly impressed with the workmanship of the building and its finishing from each of the units we managed to view.  The lower level units are fitted with a more light-colored theme fittings and cabinets whereas the higher ones are with darker themed furnishing.  It also comes with an extra huge balcony, probably 10′ X 20′?. And oh, my tenant preferred the lower units.

She and the hubby would be back again soon to finalise the rental as they need to make an urgent trip back to the UK this weekend. Well, we will arrange the necessary and when they are back, we will be ready to conclude another rental for a satisfied tenant!

On a quick note, Rhombus also won itself the 2013 Malaysia Institute of Architects Gold Award (Multiple Residential, High Rise) and the 2014 FIABCI Malaysia Property Award for Building of the Year (Residential, High Rise).

 

Unpleasant surprise during a viewing

This morning, while waiting for my next appointment, I received a call from my client, the house owner whom I’m supposed to meet with my buyer later. The call came in almost 1/2 hour earlier before the viewing and he told me that there was an offer made to him by another agent, who claimed that he know me.

The line wasn’t clear at that point and I was crossing the road while my client kept telling me that ‘my buyer’ and the other agent (I supposed my client don’t care much about who is who at this point) made a cash-buy offer. I was like…??? “Didn’t we confirmed the appointment/viewing 1/2 hour later?” I don’t think my buyer got there so early and made the offer without my presence. The house owner also told me the agent lowballed him with a ridiculous offer.

The agent then proceeds to get my client to sign an agency appointment letter for exclusivity. He was told to return with a better and more solid offer and also without having to sign the appointment letter.

When I got to the scene, my client showed me the agent’s business card and I told him I don’t know anyone by that name. This is indeed a blatant way to make up stories to confuse a home seller, just to have yourself an appointment letter and trying to go exclusive. Please don’t be so low fellow agents. If you need to, learn to do things the right and honest way. Don’t beat around and quote someone’s name if you don’t actually know them. When yu do this, instead of getting closer to the home seller, you are actually pushing yourself further away as you lose trust from them.

TLDR (too long didn’t read) version

  1. A roguish agent approach my client with an ambiguous cash offer out of nowhere
  2. Client called and informed me that the agent quote and knows me
  3. The agent suggest that my client sign an appointment letter with his agency for exclusivity with the promise of a cash deal
  4. Client declined and we proceed with the viewing

Although home sellers are for all to approach, it’s the ‘way’ how we do it separates the proper and the immoral ones. And, never, never quote anyone that you are not associated with – with anything.

Nevertheless, you can always come to Avid Estates to learn a few tricks on how to be a good and ethical estate agent! Cheers!

Advantages of an Exclusive Agreement with a real estate agent

exclusivity-to-do-or-not-to-do

“An exclusive listing agreement means that that brokerage, and the designated agent within that brokerage you choose to work with, is the only brokerage that can represent you in the sale of your home during the time frame listed in the agreement. What it means is that you do not have different brokerages and agents attempting to market and sell your home on your behalf.

You are working with one brokerage and one agent that represents, advocates, and markets for you. It does not, however, inherently limit where your house is listed on the internet, or how it is marketed within your community. That is chosen/decided/agreed upon by you and the designated agent you are working with.

This is why it’s so important to interview agents prior to listing and find out about their experience, their web presence, their reputation within the real estate community, their macro- and micro-market awareness, and their specific marketing plan for your property.

The bottom line is, an exclusive listing agreement does not inherently dictate how or where your home is marketed, only who represents you and by whom your property can be marketed. However, a non-exclusive listing agreement may block your home from being listed in certain real estate websites. As a seller, you want to know that you are being represented by one solid and reputable brokerage, and an agent that is best suited to market and sell your property.”  – Kevin Van Eck @Properties in Chicago, IL.

For properties owner:

When you come to the decision of selling your property, you can either list with multiple agencies or exclusively with one agency. If you decide to sell your property via an exclusive agent, you can only market and sell through the said agency as long as the timeframe of the exclusivity is effective. There are many benefits to list your property exclusively, some of these include:

  • You can be assured that the appointed agent will market aggressively with a personalized plan ensuring that your desired interests are kept in mind.
  • A closer and more through relationship will be extended between the agent and the client, which improves communication.
  • Greater potential for gaining higher quality leads.
  • Your property will be marked precisely to the market. This includes high-quality imagery; approved by the seller, correct market price and accurate property details.
  • When a property listing is exclusive, agencies will place more resources, effort, and money into pushing your property.
  • You will receive excellent marketing exposure, which may include:
    • Prominent positioning on the agency’s website
    • Featured listings on real estate portals
    • Quality photography
    • Detailed valuation on your property
    • Communication on market trends
    • Features in direct marketing campaigns (print & online)
    • Private events or open houses
    • Personalized property brochures
  • Your dedicated agent will respect your time and privacy in relation to communication and property viewings etc

 

For the buyers:

Buyers will likely agree to work exclusively with you if answer two implicit questions:

  • What are the benefits of working with one agent?
  • Why should I limit myself to just one agent?

Here are some answers:

  1. The exclusive agent can be objective about which properties to show because he or she will earn a commission no matter which one the buyers purchase. The agent, therefore, doesn’t have to sell any particular property and can concentrate on the buyers’ needs and wants.
  2. The exclusive agent will feel no pressure to quickly sell a property to the buyers before another agent does. This allows the agent to give priority to the buyers’ priorities and timelines.
  3. The agent will be clearly negotiating in the buyers’ best interests during the purchase and in the event, a problem should arise.
  4. Exclusive agents tend to watch for new listings more closely for buyers who are depending solely on them. When agents favor customers they can count on, those buyers find out about new listings sooner.
  5. Exclusive agents can justify investing more time in explaining the purchase process to buyers, and establish a close working relationship with them.
  6. When buyers call their exclusive agent about internet listings or for-sale signs they’ve seen, they will get all information they need from an agent who is not biased toward that particular listing.
  7. The buyer can be represented by their exclusive agent purchase if they purchase a for-sale-by-owner property, by stipulating in the purchase agreement that the seller will pay the buyer’s agency fee.
  8. Searching and choosing properties to see will be more efficient because the exclusive agent thoroughly understands the buyers’ needs and wants.
  9. The exclusive agent relationship is more comfortable for the buyers because they don’t worry about the agent being self-serving or pressuring them. The agent acts as more of a guide and advisor than as a salesperson.
  10. Being represented exclusively is a bargain for buyers when their agent’s commission on a listed property sale is paid by the seller.

The above illustrates some of the more obvious reasons why an exclusive appointment is beneficial to all parties, the owner, the agent and the buyer.

Let me know your thoughts if you’ve encountered anything similar from the above article.


Article sources from Kendal & Co and Jim Luger, CDEI of www.continuingedexpress.com

A relaxing Sunday with a viewing

It’s almost 4pm and I’m at Bangsar with a viewing. Well, to assist a viewing to be fair. It’s a 12 years old project. The condominium looked as new as it was 12 years ago but with a slightly matured scent. The moment we stepped in the compound, we were greeted by the sound of the pool and artificial water-landscaping. The family liked the place and is not seriously considering the unit. They should not wait as the recent 2017 budget did amend the stamp duty on instruments of transfer  from 3% to 4%. This should weigh well in their decisions to make an offer now before the turn of the new year. Finger crossed for you Ray!.

DC Residency by Clermont – Be Marvelled

damansaracity_facade_night.jpg

The 2 towers of DC Residency @ Damansara 

What’s the buzz around Damansara lately? Well, most of us have heard or seen the mega-developments around Pusat Bandar Damansara (approx. around 38,750 sqm land) for the past few years where the originally built government offices were demolished entirely to pave way for the new projects, namely the Pavilion  Damansara Heights and DC Residency by Guocoland (M) Berhad respectively. Since last year July, the DC Residency luxury condominiums were opened for sale. Apparently, the whole Block A was fully sold during its launch and now, we have a few units of Block B to cover.

Damansara City- or DC in short, is a RM 2.5M integrated luxury commercial development strategically located at its epicenter. Spread across 8.5 acres of prime land, DC will be seen as the address to transform the locale and setting a new benchmark for exclusivity.

The 6.02ha Damansara City, which is being built, is the first high density mixed development in the Damansara Heights area, comprising two Grade A DC Corporate office towers,Sofitel –  a French five-star boutique hotel, DC Mall – a four-storey retail mall, and of course, DC Residency – a 28 storey residential towers from the northwest of DC.

The 2 towers housing 370 luxury-serviced apartments rise majestically from 8.5 acres of freehold prime land. DC Residency, which carries a price tag of RM1,600 per sq ft, comprises one- to four-bedroom units and penthouses of contemporary design. The built-up area ranges from 938 to 3,056 sq ft. About half the 370 units are under 2,000 sq ft.

Each unit is furnished and equipped with designer appliances and premium fittings from renowned European brands – Poggenpohl, Miele, Gessi Emporio and Catalano, while the facilities include an Olympic-length salt-water infinity pool, an aqua gymnasium and a regular gymnasium, a multi-purpose hall, function rooms, private dining rooms, a barbecue area and a mini-theatre.

The main lobby gives a charming feel of a classy hotel and looked even better at night when the partly hidden warm lights were fully lit. There is a 4-tiered security point between the entrance- all the way to the main door. It also features  private lifts.

For the larger type units available in Tower B,  the  2,982sqft (3BR+1+1) layout is one of the most deserving of units to distinguish the stylishly elegant concept of DC among the rest of the developments. Even the slight curve at each end of the unit don’t seem to make it less appealing. It only adds to the graceful sonata of glass and beams.

The 2 twin rooms are exactly mirror-imaged rooms that should be able to satiate even the most space-hungry owners looking to max-out the size of their secondary and tertiary rooms. With built-in wardrobes, they only have to shop for matching accompaniments to complete the rooms.

The master bedroom is elegant on its own with the same slight bend of the structure as would the living hall. But given the size of the room, even a king size bed looked queenish. While having a corner for sleeping and lounging, the owners also have another corner solely for their wardrobe and bathroom. Nothing much to say here. Just imagine a room that you can stay in for half a day without stepping out of it. That’s how ‘sufficient’ the room is.

Lastly, the one most unforgettable area is the family hall. It is shown here in one of the shots of the unit (try to locate it). This is not exactly huge, but it is spacious enough to set up a spot with a totally different mood. Kudos to the id guys here, the show unit layout did more than capturing my attention. It made me feel like having one right now, at home! Not to keep this post too long, we will skip the kitchen and the rest of the areas. They are all marvelous in their own territory.

Not to keep this post too long, we will skip the kitchen and the rest of the areas. They are all marvelous in their own territory. Before we end, just want to highlight the pool and the little theater. These are nice little touches to stay in the fight for creativity among the rest. Not that it will feature heavily in most owners’ weekend activities, it certainly adds exclusivity to the facility made available.

To anyone who is genuinely interested, please contact me for further information and a little tour at DC Residency. I’ll be more than  happy to accommodate! Till the next review, take care and a happy weekend!