Singapore property buyers representation

Singapore property buyers representation?

We are glad that the Ministry of Home Affairs has finally appointed someone to regulate the Singapore property market. As it stands, Singapore Property buyers do need some protection against unscrupulous Singapore property agents.

Many agents or agencies are openly claiming to be the buyer representatives. On the other hand, just click another link on their website, they will explain why they are the best seller representatives.

"Whether you are a first time property buyer or an experienced property buyer, it is good to know that your real estate agent has your best interests in mind as you select a home. You save all the hassle of going through the classifieds daily or surf the internet."

This is a very common statement that property agents profess. Then the next moment, they are claiming to be seller representative.

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How do property agents help you?

Do the Singapore property agents find you the best match?
Do the Singapore property agents always seemed over positive about the ever rising property market and that the market will never fall?
Do the Singapore Property agents always tell you the price is matched, it is a good price.
Do the Singapore property agents always say that there is en-bloc opportunity and that property is a perennial good investment?
How do they select the properties for buyers?
- From their stock of unsold properties?
Do the property agents help you by showing you the option to purchase (OTP)? Do the agents tell you the unfair clauses in the Option to purchase (OTP) are standard clauses and that you needn’t worry?

Whose side are the property agents standing on? The seller side or your side?

Now, where are the facts of En-bloc potential? Where are facts that property prices always rise? We would often ask them to show us the facts that property prices always appreciate and we can show you many that do not.Those who has bought in Seletaris Condominium when they first launch are still sitting on losses.

Do you want to know how dishonest property agents stage a nice show for you?

This is what we heard in the industry. Mr. Lim found on the internet and called up a sweet looking property agent. She looked so sincere and innocent and very senior in position. After gaining his trust, she went to show him properties. After learning his needs and choice, she brought him to view properties.

Mr. Lim was surprised that so many properties that he saw, they were not ideal and did not meet his requirement. He saw 5 to 10 properties, but they were all not ideal. Then she brought out her trump card, the property she wanted to move. Mr. Lim saw the property and Bingo. That was the closest match, it didn’t match everything, but the property agent convinced Mr. Lim that that unit is one of the best units available.

What Mr. Lim didn’t know was, what the property agent did, she kept a number of units and didn’t show it to Mr. Lim. Mr. Lim found out after accidentally calling up a few more agents out of curiosity. Surprisingly, Mr. Lim went for viewing and found much better units for cheaper price.

So what did the charming lady Singapore Property agent do? Why did she do it?

The seller for the unit which was inferior was willing to pay 2% commission to the agent and it was a no co-broke unit. This is what we heard.

So now, the picture is fairly clear isn’t it?

We are eagerly looking forward to Institute of Estate Agents (IEA) to regulate the industry and set some ground rules and an honest property agency environment.

Buying and selling property agents must be separated and licensed on an individual basis. Losing the license will mean that they cannot practice, so agents are careful not to be in cahoots with each other.

Singapore property buyers can feel more at ease if regulations are more comprehensive. Nonetheless Property buyers must always be vigilant.

Looking for Honest Singapore Property Agents