How to Find A Singapore Property Agent
There are many types of Singapore properties and many factors involved in a successful real estate transaction at your ideal price. It is essential to find a professional accredited Singapore Property Agent to help you get the best deal.
Your property agent should be:
• Approachable and honest
• Equipped with access to the latest launches at special rates
Contact a professional accredited Singapore Property Agent (Real Estate Salesperson) to assist you in your Singapore real estate transactions.
All property agents in Singapore must be registered with the Council of Estate Agencies (CEA). Here is some useful information from the CEA:
Role of Estate Agents
Real estate agents perform the role of matching parties to a transaction and thereby help to make the market more efficient.
Because they deal with property buyers, sellers, landlords and tenants, and because the transactions they handle can involve large sums of money, the need for professionalism is of utmost importance.
There is no regulation on the amount of commission. Commission is only payable upon complete transfer of the property. If for any reason the deal falls through, then he receives nothing from the vendor (seller) or the landlord (owner). He has no right to recover whatever expenditure he has incurred in trying to bring about a sale or tenancy. He takes the business risk of losing his expenses and time when his recommendation is not accepted by the vendor or the landlord. Agents must always use their agency's official agreement.
An estate agent may be appointed verbally, by written agreement, or partly verbal and partly in writing. The parties will often first agree on the percentage commission, otherwise the prevailing market rate will apply (although this is arguable, so always agree on the commission first). The new ruling is that an agent must not collect commission from both the buyer and seller, so as to represent his client's best interests (be it the buyer or seller).
Unless an owner has entered into a sole or exclusive arrangement, he may appoint several agents to find a buyer or tenant for him.