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Should I pay my exclusive agent as we do not buy any estate and then our agreement expired.
We have signed buyer's exclusive agency agreement 6 month ago. Before signing it, the agent has checked my salary and tax NOA so he is confident that we could enter the resale HDB market. The agreement is for 3 months.
We have checked and visited some units after agreement signed. When we were going to provide an option, it is found the bank loan (based on my basic salary) is not sufficient to purchase our target unit.
After 6 month we still not buying any unit. Is the agreement considered terminated and shall I pay some extra fee to my agent?
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4 Answers

Hi Ambuer,

If you read the estate agency agreement, is there a provision for you to pay the agent even if there is no transaction? It should be stated clearly in the estate agency agreement.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
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2
  • AL
    Hi Geryl,
    Thank you very much for your answer!
    There is no provision stated in the agreement about fee if no transaction.
Hi Ambuer,

1) I understand your concern. It is rather strange that although work was carried out and you don't have to pay for it.
2) This is the current practice in the real estate industry where you won't need to pay anything as long as there is no buy or sell by the end of the agreement.
3) Although the agreement only tied you for the 3 months.
4) But note that is a clause (5b) stating that if you bought a unit that you had viewed with the agent in the next 3 months after the expiry of the agreement. You will still be liable to pay your agent the commission agreed stated in the agreement.
5) So since it is already 6 months from the date you signed the agreement. You are not liable to pay the agent anything legally. But you may offer some token of appreciation for the hard work that had been carried out by the agent.

Please give me a thumbs-up if the answer provided is relevant to your main concern. Thanks!!!

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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  • AL
    Hi CK,
    Thank you for your clear and concise answer very much!
Hi Ambuer,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, as long as there isn’t any transaction done, you do not have to pay any commission at all.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
0
  • AL
    Hi Aaron,
    Thanks for your reply. Good to hear that.
Dear Ambuer Lee,

Hi, I am Brendan!

If there was no transaction, no fee payable by you.

Perhaps i could re-evaluate on your financials to provide you better solutions?
Thereafter, I could also provide you a full list of properties well within your affordability.

Pls contact me at 9754 5207  .
Or Whatsapp me by clicking this link: wa.me/6597545207 which will direct you to open Whatsapp on your mobile phone.

Thank you!
Brendan Bay,
Contact: (+65) 97545207 
Whatsapp: wa.me/6597545207
Email: bay.binhao@gmail.com
FB: facebook.com/BrendanBay.ERA/
Web: brendanbay.com/

ERA STAR Achiever April 2022
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Brendan is very responsive, efficient, and patient. He is able to understand our many needs and requirements for our next home. He translates that by filtering out properties not within our requirements and recommended only units suitable for us. We had benefited from his detailed financial analysis for us and sound recommendations.

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