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Hi Property Guru Experts & Professional Agents,

Checking the right procedure to issue payment to an Estate/Property Agent

A seller signed EXCLUSIVE ESTATE AGENCY AGREEMENT FOR THE SALE OF RESIDENTIAL PROPERTY (with good reputation company’s letterhead) with a property/estate agent to market seller’s HDB Flat for sale.

In the agreement under point 12 (“Additional Term”), seller agreed to pay one half (1/2) of the option fee ($1,000.00) or deposit money by the buyer to the agent if the buyer’s money is forfeited.

Should the seller pays one half (1/2) OPTION FEE ($500.00) directly to the agent’s account or pays $535.00 with 7% to agent’s company?

Can any registered property/estate agent verbally inform his/her client to make any payment(s) (e.g. option fee, exercise fee/deposit & agent’s commission) directly to agent’s account?

If seller feels uncomfortable with the agent due to his/her negligence, unreliable & felt “fishy” with the agent’s work ethic , can the seller stops the agent’s services during the validity period?

Also to what extent (in a worst-case scenario) can the seller lodge a complaint to CEA?
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4 Answers

Hi,

All payments relating to estate agency work (for eg. Agent Commission) typically are addressed to the company name itself and would have been made clear when signing the estate agency agreement. I would recommend to try to discuss and clear the air first and understand what is going on in detail with the agent, after all a successful sale usually arises from a professional partnership and a degree of trust with an agent you are comfortable with, who can protect your interests while working on your assignment. If you feel the standards are still not up to expectation, you can consider to explore other options.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
 97432395  Read More
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Dear Sir/Mdm,

You may terminate the service agreement at any time within the validity period if you feel that the agent is not protecting your interests. However, it will be best if you can have a proper discussion with the agent involved as there may be some misunderstanding or miscommunications during the process.

Please feel free to contact me if you need further assistance.

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com

Visit my website to get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

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“Nick is very pro-active in helping us to resolve whatever questions and problems that we encountered. All the issues are settled even before us having to request or ask for a second time. He was very frank and transparent with all the details, limitations and advantages that we wouldn’ 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. Hope to hear from you soon and have a great week ahead. By the way, yes you are right as any payment will to be made payable to the agent company and not to any person directly. Also, an exclusive agreement can be terminated at any point in time.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Robbie Chen Chee Howe
Hi,

All payments/commission should be made to the Estate Agent company, and not to the individual salesperson, including any forfeiture of deposit/option fee.

It is best if you can have an option discussion with your Agent, to iron things out. In the event that you're uncomfortable to proceed, you can always write in to the Estate Agent company to terminate the exclusive agreement.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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