Before buying a property in Singapore there are few things you may have to know about. Buying the property is not an easy task. It takes a lot of efforts and time to meet required criteria. In this article, we will try to answer all questions which are tangled in the minds of the buyer of the property. Similarly, this article will also help the seller of the property because they are also expecting a lot of things such as they are selling their current property to take a good amount and invest it into somewhere else it could be their business or can be another property in the better area.
Below we will discuss few things which are most important to know about or might be unclear in the mind of people of Singapore who want to buy their home or to invest in the form of property or those who are going to sell their property.
The very first thing to understand is that Property agent commission in Singapore is not fixed. You have to calculate Property agent commission in Singapore by negotiation with property agency.
Second most main point to keep in mind is to make sure that your property agent is registered or not. Don’t believe in fancy visiting card or professionally arranged office.
Next thing which comes in most people mind is why are engaging Property agent, what is the purpose of the property agent, at what extent they can corporate and how much worth is to give them a commission. The answer to all such question is that it’s up to you buying and selling property is hectic, time taking and energy consuming task. Property agent will provide you all the necessary information about properties so it would be easy for you to choose what you are looking for. Their purpose is to represent you at the time of negotiation and advice you keeping in mind your eligibility. A good property agent knows what his client is looking for he will list the priorities such as how much far home is from work place, what is security condition in that area, what is the crime rate, how much good it is for future, what are the opportunities in the area, Is there any park, school, college in the near area, how far it is from supermarket and the list goes on, but professional property agent will grasp the major concern and will save the time and money of his client. He will also project the comparative market analysis. Document compilation can also be done by a property agent. Guide you to fees, loans, and restriction.
Now there are some things which should not be done by Property agent commission in Singapore. Hiring a property agent does not mean that you have to sit back and property agent have to do everything on his own. Money related transactions must not be handled by property agent; they should be only concern about their commission. They are not allowed to advice about any illegal way. Same Property agent should not represent both sides of the same transaction.
Last main and very important point is that how to calculate property agent commission in Singapore.
Here are some tips which help you out in calculating Property agent commission in Singapore. A significant point to remember is that it’s all upon how much services are taken by Property agent, that’s vary from case to case, with uniqueness and complexity commission become more negotiable. Most people assume that property agent commission in Singapore is fixed. Such doubts may lead towards unhappiness. Must remember that there is no hard and fast rule, but there are some practices which may help to figure out an estimate of commission. In most cases seller pay 2% of commission to his agent and 1% commission is paid by the buyer to his agent. In some cases, Buyer’s agent share commission from seller’s agent and buyer pay nothing to his agent. It is better to sign an agreement with Property agent to resolve the dispute if happen during or at the end of the transaction and discuss the commission before the start of the actual process.
Always pay commission to the Property agency, not to your agent. A good, skilled and experienced property agent will always be worthy.