Do I need an agent?
Whether you need an agent to sell your property in Singapore depends on your experience and comfort level with the process.
Pros of using an agent:
Expertise and Market Knowledge: Agents have in-depth knowledge of the local property market, including pricing trends, buyer preferences, and legal requirements. They can help you price your property competitively, market it effectively, and negotiate with potential buyers.
Time-Saving: Agents handle the entire selling process, from listing the property to closing the deal, saving you time and effort.
Network and Resources: Agents have access to a wider network of potential buyers and resources like professional photographers and staging services, which can help you sell your property faster and at a better price.
Cons of using an agent:
Commission Fees: Agents typically charge a commission based on the sale price of the property, which can be a significant expense.
Lack of Control: You have less control over the selling process and might need to rely on the agent's expertise and judgment.
Alternatives to agents:
DIY Selling: You can list your property on online platforms like PropertyGuru or 99.co and handle the entire process yourself. However, this requires time, effort, and knowledge of the property market.
Property Auction: This can be a quick way to sell your property, but you might not get the best price.
How much commission will I have to pay the agent?
Agent commission rates in Singapore vary depending on the property type and the agent's experience.
For HDB resale flats:
Seller's Agent Commission: Typically 2% of the selling price.
Buyer's Agent Commission: From July 2024 onwards, buyers will need to pay their agent's fee, which is estimated to be between 0.5% and 1%.
For private properties (condos and landed):
Seller's Agent Commission: Usually 2% of the selling price, negotiable.
Buyer's Agent Commission: From July 2024 onwards, buyers are recommended based on best practices to pay their agent's fee, similar to HDB resale flats:1 %
Recommendations:
If you're a first-time seller or have limited experience with property transactions, using an agent can be beneficial.
Compare commission rates and services offered by different agents before choosing one.
Negotiate the commission rate with the agent to ensure it's fair and reasonable.
I hope this information helps you make an informed decision. Feel free to ask if you have any further questions.
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
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"If you need more assistance with property matters:
like renting / selling, buying / or investing, I'm here to help!
WhatsApp me at: ABLE Toh (65) 98 56 92 55 or through this link.:https://wa.me/6598569255
(Unfortunately, this platform doesn't allow direct contact, but you can easily reach me )
(***) You can check out my reviews here:
https://www.propertyguru.com.sg/agent/able-s-k-toh-61591.
For buyers, I offer solutions for sourcing resale and new private homes at no charge.
I can connect you with reputable bankers for private housing loans free of charge and with no obligation.
I also have partners to assist with mortgage home insurance matters.
Let's seal this affinity by technology; please PM me your contact for assistance with your real estate needs. So, I believe in Affinity (Chinese word: 缘份） :), let's SEAL this AFFINITY Not by blood but by Technology > Please PM, Private Message your contact so that I CAN BE (EXTRA) PAIR OF HANDS / BRAIN and LEGS to Assist you NOW or FUTURE REAL ESTATE NEEDS!
*** You can reach me at my Singapore mobile: (65) 98 56 92 55 or email me at Able.selling@gmail.com.
From: ABLE Toh- Your Property ASSISTANT : ）
“ i am ABLE to Help As Much As You are ABLE To PM (Private Message) me ”
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