joffluex 0 Report post Posted July 29, 2011 This is my first time looking for a resale flat and an agent was recommended to me by a colleague. However, when the agent called me, he told me that I need to sign an Estate Agency Agreement before viewing the flats. Apparently, the seller's agent will make sure the Estate Agency Agreement between the buyer and buyer's agent is made before allowing them to view the flat. Is that true?I don't feel comfortable signing the agreement even though it is non-exclusive. Are such forms really necessary? Thank you in advance as I can't find any relevant info on the web Share this post Link to post Share on other sites
godloveyou 0 Report post Posted July 30, 2011 (edited) This is my first time looking for a resale flat and an agent was recommended to me by a colleague. However, when the agent called me, he told me that I need to sign an Estate Agency Agreement before viewing the flats. Apparently, the seller's agent will make sure the Estate Agency Agreement between the buyer and buyer's agent is made before allowing them to view the flat. Is that true?I don't feel comfortable signing the agreement even though it is non-exclusive. Are such forms really necessary? Thank you in advance as I can't find any relevant info on the web Read this: http://www.cea.gov.sg/cea/content/estate_agencies_agents/forms_docs/estateAgencyAgreement.htmlYou may download all and read. You'll notice there are "non-exclusive" and "exclusive" agreement forms."Non-exclusive" means no obligations to buy/sell/rent. You can sign as many of this form with agents of different agencies. This is for "record or reference" purposes only."Exclusive" means "the one and the only" - once signed meaning you CANNOT engage OTHER agents whether from same agency or not. Unless you know and have 100% trust in him/her in carrying out the entrust job(sell/buy/rent), otherwise do not sign any of this.In fact, these forms are professionally written, they should be encouraged to be used to avoid disputes later on. Genuine buyer/seller/rent are encouraged to use these forms, only those want to "look see look see" buyers will hesitate to sign.As genuine buyer, I see no harm in signing the non-exclusive one. Signing signifies you are genuine buyer thus encourage, in a way or another, the agent to focus and excute the job.Present mkt has not "matured" enough to compulsorily using this form before a transaction is done. Unless all agents "gang up" to follow the instruction from CEA, as this form will scare off those "look see look see". Edited July 30, 2011 by godloveyou Share this post Link to post Share on other sites
matrix0405 0 Report post Posted July 30, 2011 Don sign any thing u are uncomfortable or not sure. For seeing house, one handshake is enough. Even see Thomson Grand $8M showroom also not need to sign any thing; anything special about this house or agent? Share this post Link to post Share on other sites
godloveyou 0 Report post Posted July 30, 2011 Don sign any thing u are uncomfortable or not sure. For seeing house, one handshake is enough. Even see Thomson Grand $8M showroom also not need to sign any thing; anything special about this house or agent?New & resale are different.Don't you fill in particulars in guest book to show "register your interest" ? while in SHOWROOM?Handshaking is always two-way which signifies an acknowledgement. Share this post Link to post Share on other sites
jackio1917 0 Report post Posted July 31, 2011 This is my first time looking for a resale flat and an agent was recommended to me by a colleague. However, when the agent called me, he told me that I need to sign an Estate Agency Agreement before viewing the flats. Apparently, the seller's agent will make sure the Estate Agency Agreement between the buyer and buyer's agent is made before allowing them to view the flat. Is that true?I don't feel comfortable signing the agreement even though it is non-exclusive. Are such forms really necessary? Thank you in advance as I can't find any relevant info on the web Hi, i am also looking for a resale flat. have 2 agent looking for flat for me. Both of them did not ask me to sign anything. If u are not comfortable, just reject. If they still insist, find another agent. Hope this help. Cheers. Share this post Link to post Share on other sites
arowana 2 Report post Posted August 1, 2011 definitely dun need to sign. Even if it's non-exclusive, what's the purpose of signing? Share this post Link to post Share on other sites
godloveyou 0 Report post Posted August 1, 2011 (edited) definitely dun need to sign. Even if it's non-exclusive, what's the purpose of signing?To collect particulars of clients.To have common understanding of stated "terms" before transaction, minimise disputes.CEA comes out these standard forms out of due consideration and needs, it is just a matter of "enforcement". You can always email CEA & question their intention.Responsible & matured buyers won't mind "to register their interest" in black & white, unless the buyers already decided to DIY. Edited August 1, 2011 by godloveyou Share this post Link to post Share on other sites
arowana 2 Report post Posted August 2, 2011 i looked around for flats, agent didn't even ask me to sign anything. If it being non-exclusive carries no weight, then signing or no signing really makes no diff but pple are always wary putting their signature on something, no matter how non-binding and non-official it is.If the buyer wants to DIY already and just using an agent temporarily to see units, signing also has no effect.Agents usually get buyers to sign the exclusive form when things are more confirmed and the buyer looks set to buy a flat.If one really wants to be unscrupulous, no matter of regulation can deter that. Share this post Link to post Share on other sites
