I AM writing in response to Ms Kwok Yoke Pui’s letter on Tuesday, “Commissions and property agents”.
Ms Kwok said: “I would like to clarify that I am most willing to pay (the 1 per cent commission). The point is, I want to pay the agent who is representing me, not the seller’s agent.”
If this is so, perhaps Ms Kwok should appoint an agent and let the agent take her for viewings before deciding to view any unit. Commissions are agents’ income. If one buyer has to call 15 agents from different property firms for viewings before deciding to put in an offer, can you imagine how difficult it would be for an agent to close the sale and get his income?
Agents make it clear to buyers that they have to pay a commission before viewing. This is better than asking the buyer to pay after the sale has been concluded. Continue reading →
WE THANK Ms Kwok Yoke Pui for her Forum Online letter yesterday, ‘Commissions and property agents’.
The Singapore Accredited Estate Agencies’ (SAEA) position expressed in an earlier letter last Friday (’1 agent for buyer, seller: OK, but get written consent’) was that if sellers and buyers wish to appoint estate agents to assist them in their HDB resale transactions, they should be separately represented by estate agents of their choice to avoid a situation of conflict of interest.
An estate agent should act and collect commission only from one party to the transaction, who could either be the seller or the buyer. We had then suggested an exception to permit dual agency if the sellers and buyers are both aware and consent to the appointment of the same agent, preferably in writing. Such a practice, including separate agents of the same agency acting in the same transaction, for example, can be found in some states of the real estate industry in the United States. Continue reading →