To: Consumer Association
The Competition Competition has mandated that fees should be freely negotiable. The apply this requirement to doctors and property agents.
The Commission think that this is to the benefit of consumers. It is likely to work the other way. If fees are freely negotiated, and the standard and scope of service is not clearly defined, consumers can be put to a disadvantage. The industry players (i.e. doctors and property agents) are more knowledgeable about the playing field and will be able get away with higher charges, as consumers are not aware about the market.
A better approach is for the Commission to get the industry association to define a few standard services and require the providers to advertise their fees for these services.
I hope that the Consumer Association can look into this matter.
Yes, I agree with Mr. Tan. We can see from unregulated charges for insurance premium, and witness some high charges that clearly don't benefit customer at all, and with the low understanding and hard-sales push by the sales agent, things get worse. I believe it will apply the same case to the property industry.
ReplyDeleteHigh pressure sales tactic plus using deception and illusion to sell revosave and vivolife together deceiving the clients to believe that they are getting more. This tactic is nothing but churning in a new form. Churning is illegal and NTUC agents are using this packaging to cheat their customers to get 2 commissions for themselves. I heard many were cheated into buying revosave and vivolife as one.The company is keeping 2 eyes closed and pretending there is no churning. MAS must be informed of this and investigate . Errant agents must be severely dealt with and customers to get refund of their premium.
ReplyDeleteThis is the result if the indsutry players are allowed to have a free play without rules
How about the maximum fees are defined. Anything below is negotiable. This way, limit the amount the agents can get from customers but open the way for those more knowledgeable to negotiate for better rates.
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