It is usual for Real Estate Agents to retain a percentage of the purchase price as their commission. The amount that the agent will get is subject to the agreement of both parties. There are usually two agents involved in a real estate transaction, wherein the commission is divided between the two.
The Singapore Institute of Estate Agents (IEA) has finalised and published the recommended commission / fee for real estate transactions. Please click:
Some commission - related questions that you could ask : Will my property be listed in the multiple service of the list (MLS)? When you make a list of your property in MLS, you give each agent the right your proposal property to their potential purchaser.
This is possible to a higher price or to offer and a shorter waiting period leads before your property is sold.
Which type the marketing of Internet will you do? A lot Internet sites take place excellent return in terms of movement to their and visibility of their advertisements. You can reflect want posting your property with them. Research of your property goods agent concerning whom the Internet sites they use to bring your property on the market and concerning the Internet sites suggestions to give which you love that it is seen. Also, question how extended the exhibition of your property is. Are it how frequently advertised? How is publicity done?
Which multimedia which introduces options on the market turns you? Are virtual tour offered? Do they have 24/7 flowing video of your property? On which Internet site it is found?
Which exclusive and adapted services to offer you? Are not frightened several marketing and publicity try out regulations to bring your property on the market. Bowl to know how unique marketing strategies of your agent is.
What is the impact of the added incentives on the company which represents the purchaser? A part of the commission of sale of the property has been usually divided between the agent of the purchaser and the agent of the sale. If the commission which by the agent of the purchaser is received less than the standaard percentage is, can they the willingness lose to encourage your select property the purchaser. Try the raising commission which they have received to raise exhibition also its to the agents of other purchasers, who hope get a part of that commission.
What is the impact of your marketing to other agencies? It is better hand your property with various agents instead of having an open house or to spend more on open publicity. Only one handle of properties are really sold via these methods. The sales are usually purchasers who were brought by agents. Thus if you want to really sell your property quickly, announce with the agents and they bring the purchasers to you.
Lastly, ask yourself... Which is more important to you - obtaining the majority of amount of money of your sale, or paying low honorary of sales? Decide which you evaluate the majority in order to know to evaluate and negotiate the price of your property.
Do not be fooled by those discount brokers. The commission, which representatives receive, is normally used for profit, marketing and expenses. Since the expenses are generally constant in the price, they cut either down on profit or marketing, if marketing is the most logical choice to cut to down on. Few fees mean little marketing. Little marketing means few opportunities, so that your characteristic sells. Few opportunities to sell your characteristic terminate finally, above when selling for few a price.
