**1. Minimum Agent Fee for Selling:**
For private property sales like condos in Singapore, there's no legally mandated minimum commission fee. However, the typical market rate for a seller's agent commission is 2% of the final sale price. This is negotiable depending on the property, market conditions, and the services provided by the agent.
**2. Buyer's Agent Fee:**
Yes, you are correct. As a buyer, you generally do not need to pay an agent's commission in Singapore for private property purchases.
**Important Note:**
* **Changes from July 2024:** Previously, the seller's agent would often share a portion of their commission with the buyer's agent. However, from July 2024 onwards, buyers are now expected to pay their agent's commission directly.
**Key takeaway:**
* **Selling your condo:** You can negotiate the commission with your agent, but expect it to be within the standard 2%
* **Buying a new property:** You won't have to pay commission to the same agent if you engage them to buy another property after selling your condo. However, be aware that you may need to pay a buyer's agent commission if you engage a different agent to represent you in the purchase.
**Additional Tip:**
* **Get it in writing:** Make sure you have a written agreement with your agent that clearly states the commission rate and any other terms of the agreement.
I hope this clarifies things! If you have any other questions, feel free to ask.
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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