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Property Agents

Asked by Winson 9 Apr 2012

I want to sell my condo and buy another, can I get a bargain for the commission charged ? What is the best offer possible? Pls advise. By the way , dun give me a phone no. to just call and ask. Tks

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Mike Lim · Answer 1 · 2012-04-10T11:33:19+08:00

Mike Lim

Replied 10 Apr 2012

Morning Winson,

Typical seller's agent would request for 2%, depending on your asking price. Being seller's agent, we also need to split the commission received with our cobroke agent from the buyer.

As for buying, most private buyers do not pay commission. But if you are willing to pay, it will provide you with possible bigger pool of units to view, when the seller's agent is not willing to cobroke, despite being against the CEA ruling.

Whatever the case, under Fair Trade Act and CEA ruling, commisssion payable is never fixed and the rates are to be worked out by the client and the servicing agent.

FYI
Mike Lim
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