I was not at the Monologue/signing session on 18 Sep 2016 as I had an urgent engagement with divine providence. Be that as it may, there could not have been much 'dialogue' or discussion as the SPs were handicapped by not having access to the relevant material beforehand. When figures are being thrown out or statements made, who can counter-argue effectively on the spot (save one Senior Counsel I can attest to)? One eye-witness account said the meeting was poorly attended with the usual already-signed brigade warming the seats. Others stood around but said nothing. I hope the MA/SC does NOT see this as a sign of approval of their low RP! The opposite is the case; no show means no interest.
SPs are not children who need to be 'talked to', we can read and we need to have the material at hand to digest to make a sensible contribution. They should up their game and realise there are different kinds of people out there. Some require the human touch, others can't abide snake-oil tactics and prefer the digital route.
From their FB page it clearly states that some owners were treated to their own personal slide show via email. The MA/SC cannot treat owners preferentially- there's a Supreme Court ruling on Duty of Evenhandedness don't forget - so I requested for the same slides to be forwarded to my email for my own perusal at my convenience. I explained I was unable to attend the meeting due to hospitalisation and if that isn't a good enough excuse then I don't know what is. I have a Medical Cert for 5 weeks, would they like to see that?
Naturally, they refused and also denied sending any slides to selected SPS. So who is telling porkies here? Has someone created another mess, another blooper in this sad enbloc attempt? Who is going to apologise next, I wonder?
Well, further to my open enquiry on FB they have decided to go back on their promises to selected SPs and not send those emails with slides attached after all 'to prevent any misinterpretation of the information',
My commiseration to you, itshometome. Why am I not surprised?
ReplyDeleteYet another reason given for RP adjustment. Letter from MA to Secretary in May, he cited 'adjustment to RP in accordance with probable market changes as we foresee the property market would be running into headwinds....' This after former Chairman stated RP not a key consideration for selection of Marketing Agent. Whatever happened to 'Silver Zone'?
I can feel the torment, anguish and frustration of some SPs in their Facebook comments.
I'm fond of Tampines Court and do not wish for this Collective Sale to succeed. I am thankful to have allies, co conspirators in Sale Committee and Marketing Agent !
It's a simple request from SPs that SC promised to honor. SC and MA waffling over this matter is most frustrating. It a cruel joke to pull on someone just discharged from hospital.
ReplyDeleteSomeone, please tell me the hierachy of this Enbloc assembly. Is the Chairman topmost on the totem pole, or is MA the Supreme Leader?
Will the true Leader please take charge/responsibility and sort this mess. It's really not too difficult.
Do SPs have a lawful right to copies of RLV calculations?
If Eldan Law, Chairman or MA won't answer this simple question, I suggest concerned SPs write to Council for Estate Agencies for guidance.
Thank You
In my opinion, the way SC/MA conduct their enbloc exercise is all wrong.
ReplyDeleteFor a start, MA should be acting fully in the interest of SPs who are paying them THEIR commission. Instead they are leaning more to developer’s side and trying to get low price for them.
SC is elected in good faith by the SPs to represent us. Why are they so adamant to push their low RP instead of putting effort to get the highest possible price for us. They should be protecting the interest of SPs and not that of the MA !
MA is suppose to sell and NOT de-sell our development (giving excuses that TC is old, maintenance fee going up blah, blah..) and therefore we cannot ask for too high price. Any agent selling my unit in this manner, I will not only throw him out straightaway but lodge a complaint to CEA !. If he has no confidence to sell at my asking price, then don’t take up the exclusive agency. At least bring me sincere and qualified buyers and I am willing to negotiate. All our MA did is to push our price down citing negative aspects of our development. They are breaching the duty to sell our properties at the highest possible price.
Instead of making value comparison, the MA now just focus on price comparison and comparing with GLC land price in the region just as the did before making comparison of transacted price. What do they mean in the region ? Don’t they know that TC has many selling points (near 2 town centres/MRT, round market, 24 hrs NTUC, airport, new Tampines town hub, good tenant potential and rental yield and many others?). I suppose they are comparing lands in Avenue 10 and Pasir Ris area. Show me the land in the area is better than ours. Developers don’t just go for price but the quality of the product (land) as well. What makes them so sure they will not bid high ? Putting the RP too low is an insult to us and make a laughing stock in the market as if we are so damn desperate to sell !
Day by day, the MA/SC is pissing SPs off with their pushy method of wanting us to sign at the $1.3M RP. Originally I wanted to sign @1.5M but now I would only sign at minimum of $1.7M. Already many SPs have expressed dis-satisfaction and give them suggestions and opinions but they chose to ignore it and keep on pushing and justifying their low RP. If we have to sell cheap, why would we need an agent in the first place ?
Do the MA know what marketing is all about. The fundamental of marketing is selling values and price it accordingly. A unit with good facing, orientation, high floor cannot be priced same as another unit with is of bad facing, orientation and low floor. It is the same with enbloc sales. You don’t see luxurious car selling at the same price as low end model do you ?
Developers don’t just go for price and I believe they are willing to pay if they find a good piece of land and it is up to the MA to market the positive aspect of our land and not to de-sell it. If it’s all about price, why property price can vary so much depending on location, amenities, facing etc. Don’t try to kid us by telling us that our TC land don’t worth high price and developers would not be interested to bid if our RP is higher than $1.3M. I say please resign if you have no confident to sell our land ! Don’t waste our time !
Pissed off SP.