What is the commission % for agents selling your property?

[eurostar]

there is no std market rate although market practise is 2% for seller 1% for buyer for HDB

for private property buyer no comm required

[elderflowertea]

rosemummy:

Hi teddy7171


Yes, that had always been the case. The buyer don't pay any commission for private properties. The seller's agent is always motivated to look for direct buyers, even for HDB (in which case, they can earn commission for both parties). As owners, we just got to learn how to protect ourselves. Go to the agent for the service, but don't rely on them to act in your best interest. Never give exclusive. In this way, the agents are motivated to compete and close the deal faster. You only pay the one who managed to bring you a buyer prepared to pay the price you want. And you are free to also sell it on your own if you chance across a buyer. In my experience, agents don't wait around for direct buyers since they may not get to close the deal if they do so. And if they don't co-broke, others would and they lose the deal.

Wah.. That's like very bad to the agents. Anyone quarrel with the agents over this? Like they wasted so much time and effort to help u source for buyers then in the end, u gave the business to someone else.

[yqyq]

elderflowertea:

rosemummy:

Hi teddy7171


Yes, that had always been the case. The buyer don't pay any commission for private properties. The seller's agent is always motivated to look for direct buyers, even for HDB (in which case, they can earn commission for both parties). As owners, we just got to learn how to protect ourselves. Go to the agent for the service, but don't rely on them to act in your best interest. Never give exclusive. In this way, the agents are motivated to compete and close the deal faster. You only pay the one who managed to bring you a buyer prepared to pay the price you want. And you are free to also sell it on your own if you chance across a buyer. In my experience, agents don't wait around for direct buyers since they may not get to close the deal if they do so. And if they don't co-broke, others would and they lose the deal.

Wah.. That's like very bad to the agents. Anyone quarrel with the agents over this? Like they wasted so much time and effort to help u source for buyers then in the end, u gave the business to someone else.

Elderflowertea, not agree with you. Seller getting smarter also thanks to some of the agent for not being professional ethic...

[cherrygal]

Nowadays, private properties all above $1m so 1% = $10,000. I still find motivation to at least try to sell the property by myself (which I have done successfully before). Friends may advise otherwise but have these friends even tried to do so?


I dun think the agents can help me get buyers who would pay very much higher coz everyone follows the bank valuation anyway. You think buyers who use agents are silly enough to pay you so much above valuation? Even foreigners are very stingy…

Just received a call from an agent who asked if I was interested to sell my current place and she even said someone already made an offer (I think it’s herself) at a ridiculously low price. I told her I also want to buy if it’s at that price.

[Catt]

Hello everyone,


This reply might be a little too late, but as an agent myself I would like to share some things:

Market Practice is Buyers of Private Properties need not pay any commission. However some agents do charge buyers commission, but they can only take from either the buyer or seller, not both. For HDB Buyers, agent usually charge 1%.

For sellers market standard for selling is 2%. If the buyer has an agent usually they will co broke like 1% each.
Yes some agents would do it for 1%, but actually might be a disadvantage to you. Why? Because the buyers agent would not be motivated to bring their buyers to buy your property as they only get 0.5%. Do you know that many developers now pay agents much much more than that. Do you think these buyers agent would rather bring their buyers to buy your property & get 0.5% or convince their buyers to buy a new project & get much more commission?

Also I've come across many unethical sellers agents who are not willing to co broke, they would only want to entertain direct buyers without agents so they do not have to share their commission. This is not acting in the sellers best interest as the sellers would be missing out on many buyers with agents. Hope you guys don't encounter such greedy agents! :xedfingers: Cheers! :rahrah:

[cherrygal]

Some are acting on client’s instructions. Not unethical.


I was able to lower the commission significantly with my agent when I instructed him to only deal with direct buyers.

[meinteel]

Commissions for estate agents are always negotiable.


If you are a seasoned investor & know what you need or don’t need, it could simply inform the agent you wish to engage. They can decide for themselves if they would want to pick up the job. There are few hard & fast rules in the industry with regards to charging commission. The only regulation is that we cannot collect monies from both parties (regardless if it is a direct client or co-broking with others).

I’ve met clients who are buyers or tenants and they offer to pay commission. Reasons range from the lack of time/will to source for their ideal property, the wish for someone to represent them because you have a tight financial timeline or they are doing contra (HDB) OR they require professional advice.

[loyhuieng]

I had just sold away my 4 room HDB flat and had purchased an EA, all with the help of my agent. She is a very committed and responsible agent who had proved to be very competent as well. Very detailed and she looks into all areas when selecting your unit. Thumbs up for my agent. I would gladly recommend her to anyone who have the intention to sell or buy property. Please pm me if you need my recommendation.

[janet88]

i am thinking of selling my hdb myself if i do get a flat in the sales of balance flats exercise. hope to save on 2% commission to use for renovation.


anyone has experience DIY? is it a tedious procedure?

[kiasumom1]

depends on what extent you’d wanna reno. but generally speaking, you can’t DIY hacking of walls and carpentry work, unless, you’re in the industry to begin with. but simple stuff like painting and basic plumbing