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How real estate agencies work in Singapore?

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tomyin
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How real estate agencies work in Singapore?

Postby tomyin » Tue, 30 Mar 2010 11:22 am

My past experiences for property purchase in other country is like this: One agency represents seller exclusively, buyer can be represented by any real estate agency ,who will hunt and deal with seller agent and share the commission after the deal is done.

My current house hunting experience here confuse me a lot. Some seller agent won't accept buyer agent,only want to deal with buyer directly.that means dual agency. So my agent won't bring me to the property which its agents do not share commission with. I just don't understand how things work like this,'cause seller does not get maximum exposure to the market, and buyer does not have the full opportunities to find his desired home.

Can anyone share the experience of buying directly from seller agent, and how can we protect our own interest in this circumstance.

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Re: How real estate agencies work in Singapore?

Postby Mad Scientist » Wed, 31 Mar 2010 8:45 am

tomyin wrote:My past experiences for property purchase in other country is like this: One agency represents seller exclusively, buyer can be represented by any real estate agency ,who will hunt and deal with seller agent and share the commission after the deal is done.

My current house hunting experience here confuse me a lot. Some seller agent won't accept buyer agent,only want to deal with buyer directly.that means dual agency. So my agent won't bring me to the property which its agents do not share commission with. I just don't understand how things work like this,'cause seller does not get maximum exposure to the market, and buyer does not have the full opportunities to find his desired home.

Can anyone share the experience of buying directly from seller agent, and how can we protect our own interest in this circumstance.


I buy and sell my a few of my own property over a period of 15 years. Rule of thumb for me

1. You control the game NOT THE AGENT
2. Word of mouth of the agent sincerity, honesty, flexibility. It may work for your friend that recommend the agent to you but it may not work with you. So they must be at the same wavelength with you. Or else they will sell short if you are selling.
3. In general, ERA agent takes 2% on selling and 2% buying from the customer. If nego, if you have to move from one house to another , usually practise is 1 + 1.
4. Others usually takes 1 and 1.
5. Insist on shared commission b4 signing on dotted line.
6. IN this game, usually friendship takes a back seat or else you will get a beating from the wife if you screw up. :lol:
7. Some will do dodgy things but this is up to you to judge the authencity of it. BUT if get caught by HDB or other agency , you will get burn.Best to stay away from it
8. You do not have to tell them your financial background in detail if they inquire. There are alot of cowboys that will do a fast one
9. Insist that you have the right to see other property om your own if you are purchasing. If you are selling , do not pay any advertisement or marketing fee,since you are going to pay them commission if the sale goes thru.The your agent does not want to show you those house that does not deal with shared commission and his reluctance as no money for himself
10. If they offer anything that is too good to be true, it is probably not true.
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!


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