Category Archives: General

Fix commission for buyer’s agent based on ‘bargaining effort’

Posted on 17 Oct 2009 | Comments Off on Fix commission for buyer’s agent based on ‘bargaining effort’

MS KOH Siew Buay made a good point yesterday in her Forum Online letter, “How we sold our flats without using property agents“.

The current debate over having one agent represent both seller and buyer has often been overshadowed by the discussion of the potential conflict of interest that can arise.

The point is that any seller or buyer can handle the transaction on his own. The law does not compel anyone to use an agent to sell or buy a house. It is probably more effective for sellers to engage the services of a property agent. This is because agents help facilitate the advertising needs of the seller. And it is best if an agent represents only one party.

If an agent does represent a buyer, however, his commission should not be pegged to a percentage of the sale price. This is because a lower price benefits the buyer, but will result in a lower commission for the agent. Naturally, this does not encourage the agent to seek a lower price for the buyer. This makes it difficult, too, for the agent to demonstrate that he had acted in the best interest of the buyer.

If an agent represents the buyer, his commission should preferably be fixed in a manner that rewards his effort at getting a lower price for his client.

Patrick Sio

Source : Straits Times – 17 Oct 2009

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School told to vacate premises

Posted on 16 Oct 2009 | Comments Off on School told to vacate premises

Private school has until Dec 31 to leave Sembawang site slated for use as lifestyle hub

By Jessica Lim & Leow Si Wan
Initially, both Yess and SHRM denied running a school on the grounds of the Old Admiralty House (left). But investigations showed that Yess rented rooms to SHRM on a daily basis in an attempt to mask lessons as corporate training sessions – an approved use of the premises. — ST PHOTO: LAU FOOK KONG

A SCHOOL operating illegally on what was to be the site of a lifestyle attraction in Sembawang has been told to move out.

The School of Hospitality and Resort Management (SHRM), which has about 90 students from countries like India and Vietnam, has been running classes at Admiral Hill since June with the approval of master tenant Yess Group. Continue reading →

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