Listing: What do estate agents get from it?

[Guest]

5 hours ago, Mike J said:

I have seen this also and one time it was a house close to us  I asked the owner why different agents had listed it with different prices.  His response was; "I told them that I need XXXXX peso net from the sale."  So what happens is the agent adds a million or more peso the sale price hoping for a big commission or room to lower the price.   The whole real estate market in the Philippines is a legal and moral quagmire and little or no rhyme or reason to sales prices.   Easy to see why there are no "Title Insurance" companies such as you find in the USA.

We're honest about it when people inquire. We tell them it's 12M if we have to pay an agent, 10.5M if not. People even freak out at that but the lot is almost 800sqm with a 3br, 3bath on it. Plus I had them use 6" block and quality stuff. 

We've had agents tell us, "We don't do jack ups." I never understood what they meant until just now so, thanks for that tidbit, Mike.