Is there a need for property agent in Singapore?

[youngmummyemily]

Not so much these days- thanks to apps. And economy not good.

 

[speakout]

Maybe not so much needed for the buyers as they can source for their desired home on property portals and browse through new launch websites. Or if the buyers think they can negotiate for a good price on their own, they can do without agent.

But perhaps for selling of property, agent is required to help gain exposure on the home listing.

 

[A Better Tomorrow]

Sunset industry.

With more buyers/sellers selling their property on their own, is there a need for agents?

When info can be found on the web, who needs an agent?

Worse, the yearly licensing fee + insurance fee + course fee keep increasing. Plus transport fee also increase.

information asymmetry

 

[A Better Tomorrow]

didnt know cash is illegal

based on my understanding tons of agents are willing to share

cashier order is legit.

 

[Gordonator]

I guess it depends. if you want to sell your house, and want to sell it fast, I think engaging an agent, even better if you can find a good one, is the only reason why you would to do that. Cos having your house listed on those popular property websites will give u more exposure.

But as a buyer,and speaking from my own experience looking for a resale HDB, I think you are better off doing everything yourself and save the commission. Buyers' agents typically does nothing much anyway except accompany u to see the flat. If you think an agent's experience can help you, sure it can, but I find that looking for info online, on forums (like here) is more helpful cos u get experience from actual home buyers. As for paperwork, it is tedious work but definitely not rocket science. You can also do it yourself. But if you are lazy and want to save on the trouble, then by all means, at the cost of 1-2% commission. lol

 

[Denosaw]

I think most people would prefer to have an agent representing them, especially when they aren't very good at negotiating.

If the seller is persistent, no amount of saliva or facts that your agent present would change the seller's mind bout their selling price

Agents who said to buyer "it is better for you to engage me as I can get seller's agent to lower selling price for you as we have agent price" are bullshiat

Also, with propertyguru so easily accessible, anyone can buy a unit so easily

If buying hdb resales, the process is streamlined and so easy. Hdb resales portal even guide you step by step. Super easy. So why pay few thousands to engage agent?

If selling flat, you can sell yourself too. Save the few thousands on paying useless agent who do videos and flat staging to try to get higher comm from you. Seller just have to spend time organising a weekly walk around. To save a few thousands, it is worth it

 

[derrickgoh]

Use an agent for the correct reason. If u think the agent will be able to negotiate & get the cheapest price for u, think again. Firstly, he is also keen to close the deal so he can get commission. Secondly if seller die die refuse to sell below a certain price, no agent can make him change his mind.

IMO the benefit of using an agent (provided he is experienced) is that is saves u time & headache. Cos he is the one searching for flats not u. And once u decide to buy, he will handle all the necessary paperwork & guide u through.

Yes its not rocket science & many have DIY. But for those who want to have a load off their mind, then get an agent to do the hard work for u.

But don’t be naive & think agent can slash selling price or “compel” someone not keen in selling to sell. This is what i mean by get an agent for the correct reason.

 

[tomicaguy]

Buyer no need to pay agent fees if buying condo, landed.

Sent from HUAWEI LYA-L29 using GAGT

 

[abramovich]

In the past when info not so freely available… Yes! But in todays era where info r freely available… Definitely NO! All agents do nowadays r to sabo/create obstacles to make it seems like u need to use n pay them!! U all go figure…

 

[Hyruga]

information asymmetry

Why information asymmetry?

I mentioned more and more sellers/buyers sell/buy on their own.

 

[iCubes]

If the seller is persistent, no amount of saliva or facts that your agent present would change the seller's mind bout their selling price

Agents who said to buyer "it is better for you to engage me as I can get seller's agent to lower selling price for you as we have agent price" are bullshiat

Also, with propertyguru so easily accessible, anyone can buy a unit so easily

If buying hdb resales, the process is streamlined and so easy. Hdb resales portal even guide you step by step. Super easy. So why pay few thousands to engage agent?

If selling flat, you can sell yourself too. Save the few thousands on paying useless agent who do videos and flat staging to try to get higher comm from you. Seller just have to spend time organising a weekly walk around. To save a few thousands, it is worth it

Like you said "IF" the seller is persistent, then having an agent or no agent wouldn't make a difference. So what about the remaining times that the seller isnt persistent? Unless you can personally guarantee that all sellers are of one single profile only.

Many things are easy in this world: Buying food, washing your car, mowing your lawn, taking your dog for a walk, baking a cake - then why are there so many people paying for others to do that for them?? Everybody has limited resources and time, so we choose what we can or want to do with whatever we have. I dont think this is a difficult concept to grasp.

 

[Denosaw]

Sunset industry.

With more buyers/sellers selling their property on their own, is there a need for agents?

When info can be found on the web, who needs an agent?

Worse, the yearly licensing fee + insurance fee + course fee keep increasing. Plus transport fee also increase.

Exactly. With info available widely and platforms such as propertyguru for seller's and buyers and hdb streamlined procedures..

However, more and more younger people joining this industry as they are being recruited by those who already earned their bucks years ago

 

[jinsong]

Worst is those rude and unprofessional agents who just want close sales and no professional service to speak of. Feel like beating them.

 

[scubaforces]

Like you said "IF" the seller is persistent, then having an agent or no agent wouldn't make a difference. So what about the remaining times that the seller isnt persistent? Unless you can personally guarantee that all sellers are of one single profile only.

Many things are easy in this world: Buying food, washing your car, mowing your lawn, taking your dog for a walk, baking a cake - then why are there so many people paying for others to do that for them?? Everybody has limited resources and time, so we choose what we can or want to do with whatever we have. I dont think this is a difficult concept to grasp.

the way you talk, i know you are property agent.

Buying food, washing your car, mowing your lawn, taking your dog for a walk, baking a cake- these transactions do not involve a 6/7 digit figure.

buying selling a property involves a 6/7 digit figure.

 

[veryhonestguy]

Yup with oh my home getting popular, more and more tech company will come to take this pie of buisness

Why information asymmetry?

I mentioned more and more sellers/buyers sell/buy on their own.

 

[RMCWMR]

If the seller is persistent, no amount of saliva or facts that your agent present would change the seller's mind bout their selling price

Agents who said to buyer "it is better for you to engage me as I can get seller's agent to lower selling price for you as we have agent price" are bullshiat

Also, with propertyguru so easily accessible, anyone can buy a unit so easily

If buying hdb resales, the process is streamlined and so easy. Hdb resales portal even guide you step by step. Super easy. So why pay few thousands to engage agent?

If selling flat, you can sell yourself too. Save the few thousands on paying useless agent who do videos and flat staging to try to get higher comm from you. Seller just have to spend time organising a weekly walk around. To save a few thousands, it is worth it

If the seller is persistent on his selling price and the price is above what the market is, then there would be no sale whether the seller uses an agent or DIY.

Reality is that buyers will always want to buy below last transacted price while seller will always want to sell above last transacted price. An agent acts as an independant 3rd party to facilitate the sale and help both reach an price equilibrium.

 

[RMCWMR]

Take for e.g. current climate where its generally a buyers market. Without an agent, buyer will definately lowball since it is a buyers market and economy is going into technical recession. Unless seller is desperate to sell, no transaction is going through. It will be an inpasse. Seller will tell buyer to fly kite coz price too low and buyer will tell seller to keep the home coz seller is asking for ridiculous prices. Without an independant 3rd party no sale will happen.

 

[Denosaw]

Worst is those rude and unprofessional agents who just want close sales and no professional service to speak of. Feel like beating them.

Exactly. Real estate agent are like pests

They showed off how much they earned and how high they managed to get cash over valuation from buyers..

May be they hang around their own clique who constantly boast bout their top 100 producers awards and congratulating each other with all these stupid quarterly awards.

they are in denial that many general public and outsiders considered them nothing but pests

 

[Hyruga]

Yup with oh my home getting popular, more and more tech company will come to take this pie of buisness

Yes more tech companies coming in to take the pie.

For example, Carousell is charging so high just for a property account. And their spotlight costs $30 each or more.

 

[8zaoyu]

Buyer no need to pay agent fees if buying condo, landed.

Sent from HUAWEI LYA-L29 using GAGT

The buyer will already pay the developer when he buys a new launch unit. The developer
paid the agents to read up the units that they going to sell. I will look out for the more seasoned looking agent if I am really keen on a unit. If you are just window-shopping and taking pictures of the interior designs, you don't need an agent to follow you around.