Commission for Real Estate agents

[mas6zd]

Hi there-

I'm in the process of settling on a new apartment in Singapore >> S$2500.

Lease is 12mos.

Agent is saying ll's agent is saying they want to split full month's rent, but I was told repeatedly and have reviewed with the IEA website that when rent is > S$2500, no commission is to be paid by the tenant, regardless of the length of tenancy.

Any advice? I've said that if ll's agent insists on interpreting their cobrokerage agreement unfavorable to us, then we will stop payment, but I'm not sure if we have any other recourse. I'm also a little worried that the stop payment might not get through on time.

Thanks!
-MAS

[audiojunky]

Hi there-

I'm in the process of settling on a new apartment in Singapore >> S$2500.

Lease is 12mos.

Agent is saying ll's agent is saying they want to split full month's rent, but I was told repeatedly and have reviewed with the IEA website that when rent is > S$2500, no commission is to be paid by the tenant, regardless of the length of tenancy.

Any advice? I've said that if ll's agent insists on interpreting their cobrokerage agreement unfavorable to us, then we will stop payment, but I'm not sure if we have any other recourse. I'm also a little worried that the stop payment might not get through on time.

Thanks!
-MAS

MAS - your agent is trying to rip you off. Often they have agreements with the LL's agent and trying to extract as much money as they can from you. If rent > $2500, DO NOT PAY commission fees.

Many agents are unscrupulous people and want to take maximum advantage of the recent rise in prices. Do not fall prey to their demands.
Go with another agent and discuss this upfront.

[audiojunky]

Read this document:

http://www.iea.org.sg/index.cfm?GPID=10

It clearly says that the LANDLORD pays the fees if more than $2500.

What the agent will do it charge the commission from both you and the landlord. He/She is unethical, unscrupulous and wants to basically make double income by lying to you.

[sillingw]

having been involved in the property market here a number of times, I am still wondering what an agent really does for their money. If I am a buyer, what incentive is there for the agent to get a good price for me - they are paid on commission therefore a percentage of the deal value, therfore the higher the price, the more they get! so who is on my side? I'm afraid my experience with agents has not been positive and i have no trust and little respect for them.

[Amos]

Hi,

Its true that u do not have to pay an agt fee anthing above $2500..What you encounter is an unethical agent..as in any industry there are bad and good apples..you just happen to meet one,do not condemn a tree for the whole forest in anyhing you think or do..With all due respect iam in this industry.

[sillingw]

Hi,

Its true that u do not have to pay an agt fee anthing above $2500..What you encounter is an unethical agent..as in any industry there are bad and good apples..you just happen to meet one,do not condemn a tree for the whole forest in anyhing you think or do..With all due respect iam in this industry.

The line (with minor corrections): Do not condemn an individual tree for the whole forest - has really got me thinking - so if the whole forest is bad, can I not reasonably expect the individual tree to be bad?

[sundaymorningstaple]

can I not reasonably expect the individual tree to be bad?

Sure Can! Especially one who tries to poach from another agencies website forum. So much for ethics!

[durain]

what if the rent is less than S$2500? how much commission i have to pay if i am a tenant?

[MblSH]

[quote="durain"]what if the rent is less than S$2500? how much commission i have to pay if i am a tenant?[/quote]

You have to split it 50/50 with your landlord

[SIMS-WA]

Hi, I bot a resale condo unit recently and as a 1st time buyer i assume that buyer need 2 pay 1% commission so when my agent asked me to sign a doc to agree on the commission i assume is std procedure n signed it. now then i realised buyer dun normally need to pay commission. I hv not communicate tis doubt to my agent n commission is due on hand over in couple of weeks times. is there any thing else i can do as remedy?

Further more he done almost nothing on negoatiation process n din fight for my right at all, and i bot the 1st hse he show it to me. dun think he deserve it if is not mkt practice..

Need some professional advise..pls help..thankss.

[juliana_fr]

Well it depend whether u appoint the agent to search a unit... or is it adv sale..


if u did ask the agent to look for you than you hv to pay...


but for buyers hdb must pay.....it the practise here....

Hi, I bot a resale condo unit recently and as a 1st time buyer i assume that buyer need 2 pay 1% commission so when my agent asked me to sign a doc to agree on the commission i assume is std procedure n signed it. now then i realised buyer dun normally need to pay commission. I hv not communicate tis doubt to my agent n commission is due on hand over in couple of weeks times. is there any thing else i can do as remedy?

Further more he done almost nothing on negoatiation process n din fight for my right at all, and i bot the 1st hse he show it to me. dun think he deserve it if is not mkt practice..

Need some professional advise..pls help..thankss.