Do you have to sign a contract when viewing flats?

[LeChatNoir]

Just wondering...

We dropped in a real estate agency and asked to view some flats and they immediately were able to do so without us signing anything.

We dropped in another real estate agency in a different area requesting the same but the agent wanted me to sign a flat-viewing agreement first. Basically saying that if I were to buy the listed flats in the agreement in the next three months I had to go through him paying him 1% commission. I was extremely uncomfortable doing so because now I know that 1% is negotiable. He was adamant that no signature no viewing.

Both real estate agencies are considered "big names" in HK... so it wasn't a mom and pop office we walked into.

... so anyone experienced the same scenario?

-M.

[jimbo]

We dropped in another real estate agency in a different area requesting the same but the agent wanted me to sign a flat-viewing agreement first. Basically saying that if I were to buy the listed flats in the agreement in the next three months I had to go through him paying him 1% commission. I was extremely uncomfortable doing so because now I know that 1% is negotiable. He was adamant that no signature no viewing.

This is perfectly normal to cover themselves in case you view the place then contact the landlord direct and strike a deal thus bypassing their commission.

[PDLM]

The exclusivity is normal, but I haven't been asked to commit to 1% at that stage and I too would be uncomfortable about that.

[JT06]

Many agents will insist you sign that flat viewing agreement. But I suppose you can ask them not to specify 1% on the agreement, although I have never done that. However, practice varies from agent to agent, even in the same agency.

I noticed recently that there are quite a few posts about property buying / mortgages. Are people's interests in buying properties increasing these days?

[UK/HKboy]

Many agents will insist you sign that flat viewing agreement. But I suppose you can ask them not to specify 1% on the agreement, although I have never done that. However, practice varies from agent to agent, even in the same agency.

I noticed recently that there are quite a few posts about property buying / mortgages. Are people's interests in buying properties increasing these days?

they have a form that you sign so that if you go through the landlord directly or another agent to buy this flat, then you will have to pay them as well.

but if you go through them anyway, you can negotiate the commission... just don't show that you "must" have that flat. the 1% is just to protect themselves, and they will negotiate lower to encourage you to buy as soon as possible or buy the flats they showed you.

However, it seems flat prices are going back up. i agreed a price for mine a couple of months ago, and from then to now, it has gone up 10% on the Hang Seng property valuation website (although, i don't know how accurate that is)