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Good evening,

You need to declare whether is there any conflict of interest on CEA exclusive or non exclusive form. You can state sellers are uncle or auntie etc. Do you have any concern sharing with buyer's or his agent that the unit belongs to family member?

If buyer's agent is acting in the best interest of his buyer, why will he encourage buyer to pay an inflated price? Unless buyer really like the unit perhaps due to renovation, fengshui, facing etc. Buyer must be willing to pay such price.

Buyer can forfeit $1k option fee for HDB transaction if he feels that the COV is overbearing or for private, he can find out whats the bank valuation before committing to otp.

Hope my sharing helps in aiding in your enquiry. May I know how can I value add further in your property needs?

Best regards,

YT Tan
Property Kaki
You dream. I create. We make it happen!
Association of Chartered Certified Accountants Graduate
Singapore Accredited Mortgage Planner

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Hi,

Yes of course a family agent is able to assist and to represent his or her family member to sell any property but the agent would have to declare to the potential buyer as well as those forms required to be filled up by the CEA.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

1) What kind of potential conflict of interest do you foresee in such appointments? If agent want to sell at the highest possible price for seller? It will be a conflict of interest for seller if buyer of the property is related to the agent instead as price could be fixed and pushed downwards.

2) In this case, if buyer's agent colludes with seller's agent, buyer's agent is misrepresenting the buyer and can be reported against. Read More

Hi,

1) There is no conflict of interest when a family member is an agent selling a house.
2) But the agent has to declare to a potential buyer to avoid misunderstanding that there is foul play in the whole transaction.
3) The buyer and seller agents are to work together to assure this is a successful transaction. The difference in their commission from higher selling/purchase price has little effect on how much they make from the transaction.
4) Unless you are saying that the inflated price is $1M, then yes it makes a difference in the commission. A few ten of thousand and only make them a few hundred dollars fatter
5) I don't believe the agent can't do their maths properly.
6) If you as a buyer feel that the asking is way too high, you can always walk away from the deal.
7) But if you like the unit and feel the asking is not reasonable. You can always negotiate with the seller if the seller willing to do the negotiation himself.
8) Otherwise you can only negotiate with the seller's agent if the seller does not want to be directly involved in the discussion.
9) Once an OTP is issued and you got your valuation report you can still walk away from the deal by giving up the option fees.
10) A responsible agent should be able to assist you to estimate the valuation value.
11) Having said that sometime there will be a deviation between the estimation and the actual valuation, especially when the valuation is done by a human.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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