Daily Archives: 9 Oct 2009

Wet market closures – Govt should step in

Posted on 9 Oct 2009 | Comments Off on Wet market closures – Govt should step in

I REFER to last Friday’s report, ‘Sale of five wet markets hits a snag‘.

I wish to appeal to the authorities not to permit existing wet markets to become air-conditioned supermarkets. There are clearly good reasons to keep costs down for both stallholders and customers.

Furthermore, to strengthen the sense of identity and belonging among Singaporeans, we must make a conscious effort to keep, support and enhance the vibrancy, social relevance and affordability of specific elements of our traditional lifestyle.

William Lim

Source : Straits Time – 9 Oct 2009

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Conflict of interest when agent represents buyer and seller

Posted on 9 Oct 2009 | Comments Off on Conflict of interest when agent represents buyer and seller

I REFER to Ms Kwok Yoke Pui’s letter yesterday, ‘Agents shouldn’t take on dual roles‘. The practice of sellers paying 2 per cent and buyers 1 per cent of the transaction price of an HDB resale flat arose because the distinction between a seller and a buyer is unclear.

By representing both the seller and the buyer, an agent will be unable to show that he got the best price for either party, which is his fundamental duty.

The agent can offer only to perform an administrative service to handle the documentation, but that service should not be tied to the transacted price, because no matter at what price the flat is sold, the amount of administrative work would be the same. Furthermore, this offer of administrative service cannot be forced on the buyer.

The HDB conducts seminars on resale transactions in English and Mandarin for both sellers and buyers. Anyone interested to attend can register at HDB’s website.

Source : Straits Time – 9 Oct 2009

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