Mistakes To Avoid in Hiring Property Agent

Mistakes To Avoid in Hiring Property Agent

Mistakes To Avoid in Hiring Property Agent

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Mistakes To Avoid in Hiring Property Agent

For educational purposes only. All copyrights belong to their respective owners. Get Full HOME Report FREE #AskR…

For educational purposes only. All copyrights belong to their respective owners.

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Property Agent Commissions – What Singaporeans Might Not Know

For many Singaporeans, buying a home is a key life event, and probably the biggest purchase they will make in their lives. For some Singaporeans, property agents play a key role in facilitating the buying, selling, and rental process.

5 things you probably didn’t know about your property agent

Buying a home in Singapore is a tedious process that requires careful research and consideration. While Singaporeans are becoming increasingly tech savvy when it comes to buying and selling properties, it still pays to seek professional advice. This is especially if you’re buying property for the first time and seeing that a home could probably be the biggest purchase of your lifetime!

Your Property Agent Says: When is the best time to sell your home?

Whether you are relocating, making space for a growing family, planning to move closer to your kid’s school, downsizing, figuring out when’s the best time to sell your current home can be pretty daunting, especially for first-time sellers.

Five Important Things to Ask Before Choosing Your Real Estate Agent

Once you’ve decided to buy a property, a key step is finding a real estate agent who can help you achieve your goal. Not enlisting an agent is, in fact, one of the biggest mistakes a homebuyer can make. For that matter, the same is true if you want to offload your property.

Qualities Of A Good Property Agent

Below are three attributes that every property agent in Singapore should possess.
Engaging The Right Agent To Sell Your
The generation of today has grown up with and is accustomed to buying and selling many things online on their own, and it is easy to fall into the trap of assuming that buying and selling a property ourselves is as easy as buying an e-scooter off the internet.
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Is it truly that simple and will there be any relevance in the role of a real estate agent today and in the future?

How do I find the right property agent to sell my home?

Selling your home is, without a doubt, one of the most emotional, expensive and time-consuming events of your life – that’s why so many sellers opt to hire a property agent to carry the burden instead.

Who is the “Tenant’s Agent” & should you engage one?

In one of our previous blog posts, we stated that there’re two types of property agents in the rental market: landlord’s agent and tenant’s agent. In general, renters are familiar with landlords’ agents as most rentals will inevitably engage one in the process. The concept of a tenant’s agents, however, is more nebulous as they require active engagement on the part of the tenant.

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How do I find the right property agent to sell my home?

Selling your home is, without a doubt, one of the most emotional, expensive and time-consuming events of your life – that’s why so many sellers opt to hire a property agent to carry the burden instead.

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When should you appoint an exclusive property agent?

Make no mistake, going exclusive with a particular property agent can be a gamble. If you get a good agent, you’ll get a quick sale at a good price. Get a bad agent, and several months down the road you’ll feel like you’re stuck in a bad marriage you can’t get yourself out of. Here are several factors to consider before taking the relationship to a whole new exclusive level:

Why a good managing agent is important to your property value (and how to spot one)

A condominium development is like the human body after a certain age. Every little problem, if ignored, will somehow snowball into a major disaster. Tiny things, such as the lift lights not working, or a leaky spot in the carpark, all compound over time. After 10 years, the combination of problems will result in malfunctioning elevators, underground flooding, and a building that looks like ground zero of a zombie apocalypse. The only thing standing in its way is a good managing agent:

The role of a real estate agent: What they should and shouldn’t be doing
Engaging a real estate agent for the first time, and not sure what comes under their jurisdiction? Read on to find out more about what your property agent should, and shouldn’t be doing!
First things first: before engaging a real estate agent, make sure you verify he/she is indeed registered with the Council for Estate Agencies (CEA). Simply access CEA’s website, and conduct a search using your agent’s name or real estate number. If you want to go a step further in verifying your agent’s identity, ask for his or her real estate agency card, which contains a CEA-issued registration number.

Singapore property agents commission: what should I pay?

Wondering what you should be paying the property agent? We have been asked about how Singapore property agents commission work many times and it is astounding how confusing it can get about the practice around dealing with agents and commissions. Here’s a guide for you!

5 things you should know before thinking about skipping the property agent

It’s been frequently quoted that the number of Do-It-Yourself (DIY) HDB transactions is rising – in 2013, 11 percent of buyers and sellers didn’t use a property agent and as of 2013, more than a quarter went DIY.
What does that number really mean though? We investigated and found that it is actually a somewhat misleading number – HDB considers each property changing hands to really be 2 transactions – 1 for the buyer and 1 for the seller.
What 99.co research has found is that – the number of BUYERS who did not use an agent has decreased to about 50%, while the number of SELLERS who did not use an agent remains at over 95%. (and thus overall, about 25% of transactions, i.e. 50% of buyers, are DIY transactions)
This is because of 3 main factors
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Transparent property agent transactions and ratings will soon become the norm in Singapore

Choosing a new restaurant to try (or even a hotel for your upcoming trip) is pretty simple. Just head over to Tripadvisor, and you’ll get access to thousands of ratings and reviews at your fingertips.
Choosing a property agent to work with, on the other hand, is not quite as straightforward. Obviously, you’ll ask your friends and families for recommendations. You might also do a Google search, and chance upon blog articles wherein people talk about their experiences with their own agents… but you’ll be hard-pressed to find a handy platform which collects and aggregates information and reviews.

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7 easy tricks you can use to spot a reliable property agent

You know why picking a reliable property agent is hard? It’s because most of us only buy a house once or twice in our lives. It’s not as if we get to work 20 different agents, so we can spot the fly-by-night agents from the long-time professionals. Fortunately, there are some tell-tale signs to look for:

Mythbusting: 4 things to know about property agents

Ask any homeowner and they’ll say that the properties they own are probably the most expensive assets in their portfolio. Simple logic would follow that since they already have, or will be, spending a significant amount of money (or in other words, a large fortune equivalent to raising a child till university), you would also expect them to possess a certain level of knowledge about property buying and/or selling. However, most will opt for the easy way out and entrust their property agents to do all the paperwork, leaving them none the wiser.
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The benefits of engaging a property agent

Blame it on the bad economy, or simply on our kiasu and penny-pinching nature, but in the recent years, there’s been an increasing number of Singaporeans who are opting to sell their property without engaging a property agent. In this article, we take a look at some of the benefits of engaging property agents that you might just miss out on if you go down the DIY route.

Why illegal real estate agents are still a problem

The Council for Estate Agencies (CEA) has done an admirable job of cleaning up the real estate business. It’s been awhile since illegal real estate agents made the news, with the most recent case being 56 year old Shakir Khan. Although the number of these cases are dwindling, illegal real estate agents still exist. This is why:

4 Expensive Mistakes Singaporeans Make When Buying Their First Home. Secrets You Wish You Knew One Year Ago.

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Property Market Outlook 2018 Download the full report now

Property Market Outlook 2018 Download the full report now

Executive Summary

– Close to 10,000 private homes are expected to be completed in 2018, which will add to the vacancy rate.
– The Core Central Region had the highest vacancy rate of 10.9 percent in Q3 2017. This will put further pressure on rental prices in the city area.
– There could be as many as 16 to 22 major new launches next year. Given the higher land prices and anticipated market recovery, new private home prices will likely be higher in 2018.

Can Singaporean Rent out their home for Short-term tourist?

Can Singaporean Rent out their home for Short-term tourist?

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When can Singaporeans finally lease homes to short-stay tourists?

Since June 2017, homeowners in Singapore are allowed to lease their homes for a minimum period of three months, from six months previously. While this has been lauded as a step forward for homesharing platforms like Airbnb and Homeaway, it is still far from ideal as most tourists typically need an accommodation for less than one month.

Renovating a Private Residential Property?

Renovating a Private Residential Property?

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Renovations & Reconstructions

Renovating a Private Residential Property

INTRODUCTION

Depending on your property and type of renovation, you may need to obtain planning permission from URA.
Which renovation works require approval from URA?
Additions and alterations to your property require approval if they:

  • affect the external facade of the building, or
  • result in an increase of the Gross Floor Area (GFA)

DEFINITION OF ADDITIONS & ALTERATIONS (LAND-TITLED RESIDENTIAL PROPERTY)

To qualify as an “Additions & Alterations’’ to a landed-titled residential property, the following criteria must be complied with:

  1. the proposed additional gross floor area does not exceed 50% of the approved gross floor area;
  2. the external walls that are to be removed and replaced with new walls do not exceed 50% of the approved external walls;
  3. structurally changes to the existing landed dwelling house such as replacing or constructing new columns/beams and reconstructing existing floor slabs do not exceed 50% of the existing;
  4. changes/replacement of entire roof, regardless of increase in height as long as it does not involve an additional storey;
  5. addition of an attic provided the increase in GFA is less than 50%;

Proposals that do not comply with any of the above criteria are considered as “Reconstruction’’. The following works are deemed as reconstruction regardless of whether the works exceed 50% of the existing building:

  1. Increase in storey height – Changes/replacement of any part of the roof when it involves an additional storey
  2. Change in housing form – Works which result in a change to the landed dwelling house form, for example, from semi-detached house to detached house.

RENOVATING YOUR HOME (LAND-TITLED RESIDENTIAL)

Check if your renovation works are covered under the Planning Permission Exemption List. If they are not, you will need to obtain approval from URA.
Landed property owners can also use the Landed Housing e-Advisor to evaluate if your proposed works comply with Development Control Guidelines.
Landed property owners can also engage a Qualified Person (QP) to lodge the renovation works under the Plan Lodgment Scheme (Additions & Alterations) if your property is located in certain designated landed housing estate and meet certain criteria.

RENOVATING YOUR HOME (STRATA-TITLED RESIDENTIAL PROPERTY)

Generally, internal renovation works within your strata unit do not require planning permission. However, renovation works which affect the external façade of the building or result in an increase in Gross Floor Area (GFA) will require approval from URA.
In particular, for proposed Additions & Alteration works within strata units which involve an increase in GFA, the applicant is required to obtain a letter signed by the Secretary or Chairperson of the council of the MC confirming that the MC has by 90% resolution authorised the carrying out of the proposed works for the strata unit.
This authorisation letter duly signed by the authorised signatory of the Council of the MC is to be submitted to URA by the applicant together with the proposal as part of the planning application.
To download the format of the authorisation letter, please click here.
The above requirement is only applicable to non-conservation strata-titled residential properties.

HOW TO APPLY?

How do I apply for planning permission?
Please refer to the step-by-step guide – How to Apply: Development Application via CORENET eSS.
The application fee for additions and alterations varies. Please refer to the Fees Schedule (2016).

CONTACT

I need help. Who can I contact?
Write to us or call us at 6223 4811 (Monday to Friday, 8:30am to 5:00pm)
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Real Estate Market Property Outlook 2017 – 2018

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Why Hire a Property Agent?

Why Hire a Property Agent?

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5 things you should know before thinking about skipping the property agent

It’s been frequently quoted that the number of Do-It-Yourself (DIY) HDB transactions is rising – in 2013, 11 percent of buyers and sellers didn’t use a property agent and as of 2013, more than a quarter went DIY.

There’s a difference between knowing the property, and knowing about the property

Subtle mistakes in paperwork can create financial disasters

You should still consider a property agent even if you’ve already picked a specific unit

If you’re a tenant, know that some agents look after you throughout your entire tenancy

A property agent has the knowledge and equipment to stage houses

Read more…
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Are Property Agents Really Needed in Singapore?

Imagine for a moment the Singapore property market without any property agents. Some would argue that this would make the industry disastrous;
Read more…
Despite simplified HDB resale transactions, estate agents may still have a role to play
There is still a role for real estate agents to play in resale flat transactions, according to analysts, despite a shortened, streamlined resale transaction process promised by the new HDB Resale Portal.
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Engaging a property agent – Five things to note

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Engaging a property agent soon? CEAnergy highlights five things you should note.

How can I be sure that the property agent I am planning to engage is performing estate agency work legally?

All businesses and individuals must be licensed and registered respectively by CEA in order to conduct estate agency work in Singapore. It is an offence for a person to perform or accept fees for estate agency work without being registered with CEA through a licensed property agency. So to safeguard your interests, do not respond to advertisements and flyers put out by individuals without a CEA registration number.
All property agents are also required to carry an Estate Agent Card that bears the following information:

  • Property agent’s full name
  • Registration number
  • Photograph
  • Property agency name, logo, and its licence number

Read more…

Property Agent Commissions – What Singaporeans Might Not Know

For many Singaporeans, buying a home is a key life event, and probably the biggest purchase they will make in their lives. For some Singaporeans, property agents play a key role in facilitating the buying, selling, and rental process.
Read more…
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5 things your property agent never told you

Buying or selling a home is one of the most expensive, complicated events in your life, no thanks to the ever-changing government regulations. Whether it’s your eligibility for a loan or the bewildering range of seller’s stamp duties depending on your occupation period, it can all snowball into one huge headache. So, most of us shell out good (commission) money for a property agent hoping to tap into their expertise to buy that dream home at a bargain or sell your property at a premium. Housing agents might have the industry knowledge to help you make a good deal, but be aware of what they’re not telling you, too.
Read more…

7 myths about property agents and property transactions in S’pore

Fact: No you don’t need a property agent but you probably want a professional (see myth 3) by your side when it comes to property transactions.
Read more…

Why Should You Engage a Tenant’s Property Agent?

Property Agent Singapore

The rental system in Singapore can be a bit confusing, whether you’re navigating it for the first time, or even if you’ve been through it before. One of the the most common question seems to be ‘why are there so many people involved?’.
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Should I Hire a Property Agent?

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Property Agents: Fees and Responsibilities

During the rental process, the tenant or landlord (or both) may engage the services of property agents. Known as the tenant’s agent (or buyer’s agent) and the landlord’s agent (or seller’s agent) respectively, these two representatives have different responsibilities. In this article, we’ll discuss their roles, fee structure, and whether you really need to hire a middleman at all.
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5 tips for engaging a property agent in Singapore

Many Singaporeans buy, sell and lease their properties. You can choose to handle a property transaction on your own or engage the services of a property agent.
Read more…

Do I need an agent to buy a unit?

More home buyers in Singapore are eschewing the services of property agents, preferring instead to handle the entire process themselves. Now that buyers are more savvy, are agents no longer needed, or are they still important components of the real estate industry?
Read more…

Misunderstood “facts” about property agents in Singapore

No, I don’t make S$1.5m from one property sale…and other misunderstood facts about being a property agent in Singapore
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Top 5 reasons to use a property agent when buying a home in Singapore

Purchasing real estate is never easy. There are innumerable factors to be taken into consideration. Possibly the most important condition to be met is that the property should have the potential to appreciate in value over time. If you need help with the purchase of a property,
Read more…

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Real Estate Market Property Outlook 2017 – 2018

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10 Crucial Reasons You Should Buy A Home Before 2017 Ends

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60 Biggest Mistakes Made by

Property Buyers & Sellers.

How to Avoid Them?

Got questions about your property?

Buy or Sell or Hold?

I can answer your questions

Let’s chat on WhatsApp: 8300 4411

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Condos With En Bloc Potential

Condos With En Bloc Potential

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Should You Sell or Hold On To Your HDB Flat?

Should You Sell or Hold On To Your HDB Flat?

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60 Biggest Mistakes Made by

Property Buyers & Sellers.

How to Avoid Them?

Got questions about your property?

Buy or Sell or Hold?

I can answer your questions

Let’s chat on WhatsApp: 8300 4411

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The Ultimate Home Buyer’s Seller’s Guide

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Don’t miss more posts by REALTOR Mani 玛尼 மணி Subramanian Veeramani
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