Zero Agent Property - No Fees Buy or Rent HK Properties with no Agents’ Fees

[06/03/12] 

Zero Agent Property is a Hong Kong website that promotes properties to rent or buy without any agents’ fees. It cuts out the middle man by linking owners directly with buyers, and when you’re dealing with millions of dollars that 1% commission can be substantial. What’s more, the effort behind that percentile is smaller than Bernie Ecclestone – it amounts to about half an hour’s paper work.

To put it in perspective, if you buy a property worth HK$15M through ZAP you’ll save HK$150,000. Similarly, an agent’s rental commission is typically half a month's rent for each party (owner and tenant) which means a HK$30,000 monthly rental will cost you HK$15,000. So ZAP it instead. Money aside, the service also saves you from dealing with Hong Kong’s ghastly estate agents. If you’re in the market for a two-bedroom apartment with a roof terrace, they’ll try to offload you with a second floor studio.

Rental prices start from HK$4,200/month but we’ve found some pretty appealing properties such as a newly decorated flat on Gage St. for HK$11.8M (above) or a designer Mid Levels home for HK$54,000/month. Once you’ve settled on a price with the owner (if you’re buying) you simply contact a solicitor to facilitate the elementary transaction. If you’re renting, however, you don’t even need to pay the HK$8,000 for legal - you just do a land search, fill in a tenancy agreement and pay stamp duty. You’ll save a packet and that means suggesting ZAP to your girlfriend could secure you that TV your flat deserves.

Money for nothing.


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