Category Archives: General

No such thing as ’standard’ commission in property deals

Posted on 27 Sep 2009 | Comments Off on No such thing as ’standard’ commission in property deals

I REFER to yesterday’s Forum Online letter by Ms Medalina Barber, ‘Property rules should protect not just clients but agents too’.

We take this opportunity to clarify that there are no standard commission guidelines for estate agency services in Singapore. Commission fees payable to estate agents are a matter for private negotiation between them and their clients.

Often, what the agent means by ’standard’ is that the commonly collected commission from the seller is 2 per cent, for example. While some latitude may be given to the estate agent’s use of the expression ’standard’, it should not be represented that 2 per cent is what a seller should pay for an estate agency’s services. There is no prescribed scale of fees.

It is recommended that consumers enter into a written contract with an estate agent only after agreeing on the commission fee payable for a specified scope of services.

Dr Tan Tee Khoon
Chief Executive Officer
Singapore Accredited Estate Agencies

Source : Straits Times – 26 Sep 2009

Comments Off on No such thing as ’standard’ commission in property deals

Posted in General

Tagged

SC Global gives charity for kids a taste of F1

Posted on 27 Sep 2009 | Comments Off on SC Global gives charity for kids a taste of F1

THANKS to an invitation from SC Global Developments Ltd, 40 children, caregivers and staff from Beyond Social Services were able to experience the heart-stopping moments of Formula One and the Porsche SC Global Carrera Cup Asia.
GLIMPSE OF THE FAST LIFE
Some of the children from Beyond Social Services with SC Global’s driver, Danny Watts

The property developer also donated $5,000 to the charity – which aims to help children and youth from disadvantaged backgrounds – in aid of its learning support programme.

The 40 children, aged six to 14, went for the practise sessions of the FI and the Porsche SC Global Carrera Cup Asia yesterday. On top of that, they also visited the Porsche support paddock, where they sat in the cockpit of the SC Global racing car and had their photo taken with SC Global’s driver, Danny Watts.

To sweeten the treat, the children also received a miniature model of SC Global’s race car as a memento.

Said SC Global chairman and chief executive Simon Cheong: ‘We are delighted to take the children to the Grand Prix – it is very heartwarming to see the excitement on their faces as the cars roar by.

‘While they may not all aspire to become racing drivers, perhaps this experience might stir in them big dreams of their own.’

Since 2008, SC Global has partnered Porsche Asia-Pacific to present the Singapore leg of the Porsche Carrera Cup Asia (PCCA) – which supports several rounds of the F1 season.

Source : Business Times – 26 Sep 2009

Comments Off on SC Global gives charity for kids a taste of F1

Posted in Developers, General

Tagged ,