Property Agent Commission?

[redbit gti 0]

hi guys,

i am in the process of letting go my private apt and getting a HDB flat to replace it.

am unsure of how much commission i would have to fork out to the property agent assisting me in both buying and selling.

can someone with more experience help enlighten me. thanks!

cheers

ds

[bepgof 20]

1. Pte property selling, mkt norm is 1%(of selling price)+gst to agent. Pls take note: buyer needs not to pay comm to agent for pte property. You can sign exclusive contract with agent, comm will be 2%+gst. Exclusive contract meaning "the one and the only one" you appoint him/her (one party) to sell, contract usually valids for 3 months and "auto-renew". Read all cluses before signing up. Wise to add another 10% of your intended selling price, and put this figure in the contract.

2. Hdb resale - 1%(of valuation + cov). Wise to do own searching and do "walk in" without agent first, then engage seller agent's recommended agent as your agent.

hi guys,

i am in the process of letting go my private apt and getting a HDB flat to replace it.

am unsure of how much commission i would have to fork out to the property agent assisting me in both buying and selling.

can someone with more experience help enlighten me. thanks!

cheers

ds

Edited March 23, 2011 by bepgof

[Plastic3 0]

1. Pte property selling, mkt norm is 1%(of selling price)+gst to agent. Pls take note: buyer needs not to pay comm to agent for pte property. You can sign exclusive contract with agent, comm will be 2%+gst. Exclusive contract meaning "the one and the only one" you appoint him/her (one party) to sell, contract usually valids for 3 months and "auto-renew". Read all cluses before signing up. Wise to add another 10% of your intended selling price, and put this figure in the contract.

Hi bepgof,

There is no more "auto-renew" clause with CEA prescribed forms.

Now maximum period is 3-months, after that sign the form again to extend.

Best,

Mark

[bepgof 20]

Hi Mark, thank for the correction.

Hi bepgof,

There is no more "auto-renew" clause with CEA prescribed forms.

Now maximum period is 3-months, after that sign the form again to extend.

Best,

Mark