As my partner said, I’m hijacking the site. Well, anyway, when there’s good things, must share right. I’m diverting from the usual property talk we do to present to you this recent finding which I find is rather interesting.

I first stumbled upon Agloco when I was surfing around the web and reading other people’s blog, Wei Ping’s to be exact.I read the write-up there and was attracted to the novel idea, which I like a lot. Here I reproduce the write-up here, which I find is quite comprehensive.

What is Agloco?

Agloco simply means A GLObal COmmunity which is a system that connects online advertiser with the potential customer which is of course, us, as a internet user. It is the only way you can earn money online by doing what you are already doing - simply surfing the web.

Agloco is completely owned by its users where the shares will be sold in London later and is led by a group of professional people including experienced entrepreneurs and managers.

How do I earn money from it?

Join as a a member and the good thing is, it’s FREE. Download the Viewbar (due to be ready in a few weeks time) and just surf as you normally do. You will be paid in various channels:-

1. Members will be paid on a per hour basis based on your monthly usage of the Viewbar up to a maximum of 5 hours per month. Advertisement will be displayed on the Viewbar and the advertiser will pay Agloco and Agloco will reward its member for using the Viewbar.

2. Members who used the referral system to build the community will be rewarded.

3. Members will get a share of commission on what Agloco received from the advertiser when its member purchase a product or services from the advertiser.

However, do note that member will not be paid for recruiting new members into the community or clicking the advertisement on the viewbar.

Is Agloco a scam? Can I trust this company?

It can’t be a scam as it is completely FREE to join Agloco. Agloco is founded by a few successful people, including 8 Stanford graduates, who also founded AllAdvantage, which created some controversy by paying $100m cash money to its user before it crashed to the Dot Com burst in year 2001. The good thing is none of the member complained about being not paid when it went out of business.

How does Agloco makes money for its member?

Agloco generates money for its member through a few channel. Major one are:-

1. Searching - When you use the Viewbar to do a search like how you normally do using Google or Yahoo, Agloco will get paid from the search engine providers.

2. Commission and advertisement - The Viewbar will display targeted advertisement based upon the websites you are visiting and Agloco will get paid a certain amount of commission if members buy something online as a result of viewing the advertisement, which the commission will be passed on to its members.

Step by step guide in joining Agloco

1. Click on the Agloco image above to join and it will prompt you to the following page:

2. Fill in your particular and click the “Click Here To Join” button.

3. Check your email account and click on the link to complete the registration.

4. And that’s it, you should see your referral code and welcome to the family.

Lawyers lawyers lawyers……

As i mentioned before, either u hate them or you love them. Thats pretty much what we did, love and hate them.

Lawyer firms in Malaysia are pretty complex. Some are one-man show lawyer firms while others are so called “MNC”(big) equivalent (with numerous partners). Well it might be the same for the rest of the world, but its certainly an eye opener for me when it comes to dealing with them.

Through our recent home buying deal, we learnt a painful lesson that we would like to share with all first time home buyers. This lesson is unique in a way that you will not learn it from any books. (Hmmm Would be a good topic for my ebook)

Lesson No 1 - Predetermined your Banker

The Bank you engage for your end-financing services will determined the law firm that you will work with. 

As such, before engaging the services of any lawyer firm, first predetermined the Bank. Different banks in Malaysia have different requirements on the lawyer firms that is “allowed” to do the loan processing. They have the so-called “Panel” lawyers that will be given the privilege to engage with you on loan documentations.

Therefore, once you have narrowed down your home loan choices to a few banks (ie 2-3), obtain the names of the law firms that is on the banks panel. Best case scenario would be to hire a lawyer who is on all 3 banks (of your choice) panel of lawyers. If this is not doable,  then rank and rate the banks of your choice based on the offer letter, and hire the lawyers accordingly.

Ultimate goal is to be able to hire the same law firm for your Loan Documentation with the bank as well as engaging them to handle your Sales and Purchase Agreement with the developer. In Malaysia, the developers are usually pretty lax on the law firms that is used to represent the home buyer. On the other hand, Banks are very reluctant to work with Law firms that are not on their panel.

Rule of thumb - Foreign banks tend to prefer “MNC”(big) law firms due to their higher malpractice insurance coverage while most local banks are comfortable working with one-man show firms. Hence, Predetermined your bank and the bank will determined your lawyer firm.

 Tags: Lawyers, Lawyer, Banker, Malaysia, Home, Property, Properties, Law Firms

“Too many cooks spoils the soup” - too many lawyers and a simple transaction becomes a long and lengthy transaction.

The same key learning applies to home transactions as well. It is wise to keep all the legal transactions under one law firm whenever possible and limit to 2 for complicated one.

Not only will you save on legal fees, you would also save on the headache, heartache and stress of working with various lawyer firms. You will also save on time, especially when time is of essence in a house loan legal documentation.

As such to assist future first time home buyers, I will be writing a series of Key Learnings on the stuffs I have learnt based on my experience in dealing with 2 different lawyer firms on my recent house purchase activity.

So stay tune and look out for the upcoming Key Learning series.