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Recommendations for Property Agents

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mulpj12
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Recommendations for Property Agents

Postby mulpj12 » Tue, 05 Sep 2017 11:27 pm

Hi,

I will be moving to Singapore in 6 weeks time and I am currently trying to find a property agent. All websites say the best way to find an agent is through word of mouth but as I don't know nay expats living in Singapore I was hoping someone on here could help me out. I understand its not possible to advertise here but I was hoping anyone who has had previous positive experiences with agents could lend a hand.

Thanks in advance


SnowyFlameZ
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Re: Recommendations for Property Agents

Postby SnowyFlameZ » Tue, 12 Sep 2017 12:44 am

Finding a good agent or even owner is very important for a tenant.

From my experience, leasing a home in a new environment can be very problematic when you are new and an agent can be extremely helpful.

When I came here from Toronto, my agent helped me get a contractor to fix my water pipe that burst one day. My house of flooding and I was really desperate because it was surprisingly difficult finding a good plumber immediately.

My agent was so helpful! She got it all settled. Mind you, this was many months after I tenanted the place. I was really desperate and she really went out of her way and got her contacts to help me.

Basically, the real estate agent was the only person I knew when I first came who could solve these kinds of problems. I was lucky that she was almost a friend to me. We keep in contact now and its really smoother.

So just some food for thought because this was on top of knowing all the legal stuff (if you want to own a place) and other advice.

** EDITED **

aki01
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Re: Recommendations for Property Agents

Postby aki01 » Tue, 12 Sep 2017 9:22 pm

agents are a waste of time and money. you dont need one. Rent a serviced apt when you come and spend the first few weeks familiarising yourself with singapore until you find a neighbourhood or location your like. then, decide on the type of place you want (e.g. apartment, condo, 2 bedroom, patio etc), your price range - and using your preferred criteria look up appropriate places on ..com. the rest is easy.
if you go with an agent they will take you to the most expensive locations with the most expensive rents and you will regret it for the 2 years that comprises the lease you will regretfully sign up for.

Pal
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Re: Recommendations for Property Agents

Postby Pal » Tue, 12 Sep 2017 9:27 pm

Rent a serviced apt for few weeks? That will cost much more than the agent fee :???:
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x9200
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Re: Recommendations for Property Agents

Postby x9200 » Tue, 12 Sep 2017 10:35 pm

Pal, so is living for a few weeks in any apartment in Singapore and she would need to live somewhere anyway. IIRC, the cheapest Service Apartments were in the range 4-6k what doesn't fall that far away from an average condo rental.

The cheapest hotel rooms are >$50/day, short term and >$30 longer term. this makes them not that far away from a regular housing neither.

SnowyFlameZ
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Re: Recommendations for Property Agents

Postby SnowyFlameZ » Tue, 12 Sep 2017 11:07 pm

Just wanted to clarify. I, as the tenant, didn't have to pay the agent fees.

I think it is a common practice that for 2 year leases above $3500 SGD a month (which was my case), the landlord pays the agent's commission while the tenant does not pay anything.

I heard some tenants still do pay the agent for their service.

* EDITED *

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x9200
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Re: Recommendations for Property Agents

Postby x9200 » Wed, 13 Sep 2017 6:45 am

SnowyFlameZ wrote:Just wanted to clarify. I, as the tenant, didn't have to pay the agent fees.

I think it is a common practice that for 2 year leases above $3500 SGD a month (which was my case), the landlord pays the agent's commission while the tenant does not pay anything.

I heard some tenants still do pay the agent for their service.

* EDITED *

Most time you don't pay, some time you does. If you don't pay, it just means your agent managed to agree with the LL's agent to share the commission (so the LL pays them both). If the other agent doesn't agree (what occasionally happens), you will have to pay. Besides, not everybody rents at the >$3500 rates.

rarkins
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Re: Recommendations for Property Agents

Postby rarkins » Thu, 14 Sep 2017 1:40 pm

The CEA has made it very difficult for an agent to refuse to cobroke, although I can't find the exact terms. The CEA makes it quite clear that agents shouldn't advertise properties as "no co-broke" unless they have explained to the owner that such a thing is not in the owner's interest and yet the owner still agrees.

From the CEA's Professional Services Manual https://www.cea.gov.sg/docs/default-source/legislation-guideliness/Practice-Guidelines-Circulars/professional-service-manual/psm.pdf:

3.3.2 In relation to paragraph 3.3.1(a), salespersons (whether they may be representing
the owner or not) who obtain the prior written consent of owners shall not act in a manner
contrary to the owner’s interests when they advertise their property. Salespersons shall not
use phrases like ‘already co-broke’, ‘no co-broke’, ‘no agents’, ‘buyer only’, ‘buyer pay 1%
commission’ or any other phrases that are not in the owner’s best interests in any
advertisement or marketing of a property.


What's strange though is I can't find the clause that an agent must *accept* a co-broke agreement if it's in the owner's interest - just that they can't advertise it as no co-broke! I think though that the overriding "agents must act in the client's interest" approach of CEA means an agent could not turn down a tenant for reasons that the tenant has an agent who needs to co-broke.

rarkins
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Re: Recommendations for Property Agents

Postby rarkins » Thu, 14 Sep 2017 1:47 pm

I found it here: https://www.cea.gov.sg/docs/default-sou ... oking.html

If you are representing the seller, you should not deny co-broking opportunities to other agents.


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