2 Answers

Andrew Ho 何伟恒
Hi Jason

You do not need to engage an agent when you intend to purchase a private property. You can close the deal on your own should you be familiar with the paper work involved.

This is the same for new launch projects, as the developer will pay the agent the necessary commission.

However, as a buyer, it is advisable to have an agent to represent you as he/she can protect your interest when you purchase the property, as well as handling of paperwork and most important of all, negotiation for the best price for you.

In the resale market, agents usually co-broke with the seller agent and thus, you do not need to pay the agent that is representing you(the buyer) commission.

Feel free to contact me should you require my assistance in your property hunt.

Cheers!
Andrew Ho
C:ERA Realty Pte Ltd
M:90038316
E:ho.andrew@me.com
R:R047219D Read More

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Geryl Lim
Dear Jason,

CEA (Council of Estate Agencies) does not regulate who is paying commission. It simply puts down to that all commissions payable has to be agreed by both the client and salesperson. FULL STOP.

We, salesperson, are in this profession for a living therefore for the services we provide, we will expect to be paid.

Simply put it this way, if you are buying a property at $1m and say if seller is willing to only give $4k commission for selling but you love this unit so much that you will not consider buying this property after searching for countless months, do you expect your salesperson and the selling salesperson to share?

If you are willing to pay a reasonable service fees to your appointed salesperson for assisting your purchase, your appointed salesperson would be motivated to work harder to assist you instead of dropping you along the way if they meet with someone who pays, true or true?

Food for thought, how do you feel if as an employee of an organisation in executive level and have no benefits for any OT work to be done and made to stay back after office hours to do OT or go back office on weekends to do OT for weeks and months?

Sometimes you may think that you can save some money on the front end but you may end up spending more on the back end.

Regards,
Geryl LIM
Real Estate Consultant/District Manager
CEA Reg R014783H
Mobile: +65-81577565
Email: lim.geryl@yahoo.com.sg Read More

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