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… |
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For educational purposes only. All copyrights belong to their respective owners.
Get Full HOME Report FREE #AskRealtorMani ? ? 8300 4411
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.
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.
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.
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.
Is it truly that simple and will there be any relevance in the role of a real estate agent today and in the future?
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.
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.
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.
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:
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.
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!
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
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.
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:
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.
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.
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:
Read more…
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