Pte Property Agents Fee

[vampree 0]

wat do you expect ? of course the sale fell through ... sigh ... sometimes getting a good agent is akin to striking lottery ...

i guess to many amateurs in the industry ...

[wil74 0]

therat, zhi have kinda elaborated on what I was referring to in terms of compensation.

As for the seller's commission to agent, I know it is negotiable. When I was selling my property, I wanted to engage a seller agent and asked around. Most agents quoted the standard 2% but I told them not interested and the range of commission I was offered ranged between 0.75% to 1.2%.

Understand from the agents, the 2% commission is not totally theirs, still got to pay to company a portion depending on their seniority. So, I believed there is a max there can go in discounts.

[Misc100 2]

therat, zhi have kinda elaborated on what I was referring to in terms of compensation.

As for the seller's commission to agent, I know it is negotiable. When I was selling my property, I wanted to engage a seller agent and asked around. Most agents quoted the standard 2% but I told them not interested and the range of commission I was offered ranged between 0.75% to 1.2%.

Understand from the agents, the 2% commission is not totally theirs, still got to pay to company a portion depending on their seniority. So, I believed there is a max there can go in discounts.

0.75% to 1.2% sound reasonable

[d007 0]

Hello:)

Agents Commission

This commission guide is for those who wish to engage the professional service of Singapore real estate agent to assist in selling, buying, renting, etc of Singapore private properties. One should note that it is by no means rigid, standardised in all cases, and it depends on the service level provided by the agents. It is also subject to change from time to time depending on the market condition.

Private Properties Sales - Singapore

Vendor : 1% - 2% of Sale Price

(deduct from sale proceeds at completion of sale of property)

Purchaser : Nil - 1% of Sale Price (as finding fee)

(50% at point of placing deposit for purchase of property & remaining 50% at completion of sale documentation.

No commission shall be collected by one agency from both vendor & purchaser in the same transaction without prior knowledge or written consent of the vendor & purchaser of property.

Private Properties Rental - Singapore

Landlord : 1 month's gross rental

(1 month's gross rental for lease between 12months to 24months, plus additional 1/2 month for every subsequent 12months' lease. 1/2 month's gross rental for lease less than 12months.)

Tenant : 1/2 month's gross rental (as service fee)

(applicable for rental 2,500 & below per month)

1. Payment upon execution of tenancy agreement.

2. For Co-broke transaction ($2500 & below ) : landlord's agent collect commission from landlord and tenant's agent from tenant. If rent is above $2500, landlord's agent shall pay 1/2 to co-broking agent.

No commission shall be collected by one agency from both landlord & tenant in the same transaction without prior knowledge or written consent of the landlord & tenant, if the gross rental is above $2500 per month.

[pantieileen 2]

Suggest that you get a bank to do a valuation of your house. From the valuation, you will have a better idea whether you are selling at the right price. Single storey houses are very popular with the richer folks because many of them are buying to rebuild to their ideal house.

Generally, foreigners such as PR cannot buy landed property but they can sought permission from the government. Those foreigners who view your place and are not sure if they can afford the price are unlikely to be very rich and I doubt they can get approval easily.

Agreed. Got agent to put my house on the market. 1day of advert (on a thursday) got about 12calls (according to the agent) and there are 3 interested buyers (apparently they are based in China but never say if they are singaporean or not then 1 is from indonesia ok so that makes 4). then sat, open house, there were 6ppl who came to view, out of the 6, 4were neighbors who offered, 2 were really strangers who happen to saw the advert and were interested. then everyday the agent reported got about 6-10calls, not surprising if the house is located in prime district <200m from top primary school etc etc.

In the end, took the house off the market, resold it within the family since the neighbors all wanted discount might as well take the discount ourselves. Moral of the story, might as well don't get agent. Totally waste of time, ding dong bell here and there. Only good thing is just leave them all the paper work. We still paid the agent the 1% (now we feel stupid) but anyway moral of the story, if u know a lawyer, that probably will solve u 80% of the problem. Need a banker? Just pick up the phone and call and 101 bankers will gladly do your biz. Don't have a lawyer, they'll gladly recommend one to u. And best of all, VALUATION from the bank is FREE (if u get the loan from them) and how to know how much ur house is worth, check the bloody internet. Even my 60-70yr old parents know how to check URA recent transaction prices and everyday they sent phamplets telling how much recent units area the area are selling. Seriously if you are a seller and u want to save money, u'll know how to do it without an agent if not don't sell. To me, agents are for desperados (and yes, we were desperate at that time beating the recession timeline)

well, that is provided that you have a good credit record and then again, majority of us typical singaporeans will have good credit ratings, mid20s, earn close to 12-20k, recently ROM, 2cars how much debt can there be?

[blueocean 0]

In reality, there is really no "standard" commission fee. It is freely negotiable btw the agent and client. Some agencies will state in the contract with the agents that the minimum fee should be this or that.

Most agencies do not publish any fee guidelines anymore because it may contravene Section 34 of the Competition Act which prohibits the fixing of prices directly or indirectly.

Hello:)

Agents Commission

This commission guide is for those who wish to engage the professional service of Singapore real estate agent to assist in selling, buying, renting, etc of Singapore private properties. One should note that it is by no means rigid, standardised in all cases, and it depends on the service level provided by the agents. It is also subject to change from time to time depending on the market condition.

Private Properties Sales - Singapore

Vendor : 1% - 2% of Sale Price

(deduct from sale proceeds at completion of sale of property)

Purchaser : Nil - 1% of Sale Price (as finding fee)

(50% at point of placing deposit for purchase of property & remaining 50% at completion of sale documentation.

No commission shall be collected by one agency from both vendor & purchaser in the same transaction without prior knowledge or written consent of the vendor & purchaser of property.

Private Properties Rental - Singapore

Landlord : 1 month's gross rental

(1 month's gross rental for lease between 12months to 24months, plus additional 1/2 month for every subsequent 12months' lease. 1/2 month's gross rental for lease less than 12months.)

Tenant : 1/2 month's gross rental (as service fee)

(applicable for rental 2,500 & below per month)

1. Payment upon execution of tenancy agreement.

2. For Co-broke transaction ($2500 & below ) : landlord's agent collect commission from landlord and tenant's agent from tenant. If rent is above $2500, landlord's agent shall pay 1/2 to co-broking agent.

No commission shall be collected by one agency from both landlord & tenant in the same transaction without prior knowledge or written consent of the landlord & tenant, if the gross rental is above $2500 per month.