What is the commission % for agents selling your property?

[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