6 Answers

Hi,

Typically the agent representing the buyer will cobroke and share the seller's agent commission for resale private property. For new launch, the developer will pay a service fee to the servicing agent. So in a way your friend sharing is correct. It is good to engage someone experienced to help you look out for the whole process.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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This is what is being practised by the industry now, but SEAA has came up with the golden practise where buyers and sellers will pay their own engaged agents so there is little to no potential conflict of interest during the representation. How do you know if your agent will really represent your best interest if he or she is sharing the commission with listing agent? I am not indicating he or she won't, but from interest perspective, this does not make sense. Read More
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Hi,

I would be most glad to assist you further and pls feel free to let me know if you need any assistance. Have a good day ahead. By the way, yes you are right. And even if it is a purchase of resale condo, you need not pay commission.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
Hi Sir/Mdm,

There is no commission when buying a private property as the seller's agent will be sharing the commission from the seller with the buyer's agent. This is applicable for both new and resale private properties. For new projects, the developer will be paying the commission.

It is ideal to engage a buyer's agent so that the agent can best protect your interests and provide you with neutral opinions of the unit and most importantly negotiate for a good price.

Regards,
Nick Tan
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1
My Answer with regards to your Question:

The information shared by your friend is generally accurate:

Resale Private Property: In the case of purchasing a resale condo or EC (Executive Condominium), the agent representing the buyer typically does not charge a commission directly to the buyer. Instead, the seller's agent shares the commission with the buyer's agent. This means that as a buyer, you don't need to pay a commission fee out of pocket for purchasing a resale private property.

New Launch/Private Property: For new launch properties, such as those directly from developers, the developer typically pays a service fee to the servicing agent. This fee covers the costs of the agent's services in assisting the buyer with the purchase process. Again, this means that buyers generally do not need to pay a separate commission fee when purchasing a new launch property.

It's worth noting that these practices may vary slightly depending on the specific arrangements between the agents and their clients, but in general, buyers of both resale and new launch private properties do not typically incur commission fees directly. However, it's always advisable to clarify any fee arrangements with your agent upfront to avoid any misunderstandings.

If you have any further questions or need assistance, feel free to reach out.

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Robbie Chen Chee Howe
Hi,

Yes, you're right, this has been the market norm. However, I do have client (private property purchaser) who pays me commission for a job well done.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile +65 97 48 63 05. I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
+65 97 48 63 05
PropNex Realty Read More
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