Do understand that the current system is actually how the private property had been doing for many years (just that they don't have to ask URA to do a official report, usually the bank will do it).
For the previous system which a seller need to get a val report first, it had been shown on a uptrend market, the price keeps getting higher and higher due to the fact seller can ask for COV and there are buyers willing to pay (there have been buyers willing to pay 100k COV , that why seller keep asking higher and higher) .
Transacted prices keep breaking record months after month, and thus valuation report keep getting higher and higher, and prices keep moving upwards. And then the buyers start complaining that they can't afford to buy or chase the price anymore.
Government step in with cooling measures to stop the price from escalating and forming a property bubble.
This new system for valuation report to be done after a buyer had commit to purchase is actually more advantage for the buyer, thus I am not sure what the complain is about, other then to rant that the system is not right again ?
This system ensure that the seller is seriously in tune with the surrounding market price of similar property which had been SOLD, and thus will be advised by their marketing agent to price the property near the market price. Most buyer (in fact anyone) can just access hdb website and take note of the transacted price and then make an informed decision whether to make a purchase or not.
Most of the flats are basically sold at valuation (after valuation is out) , and most valuation report will not be far off from the latest transacted price nearby. So if a buyer want to commit to a seller whose price is 30k above the transacted price, I am sure its also done with the knowledge that he/she may need to pay 20- 30k COV.
Buyer a home is the single and biggest decision for most people.
I believe if you want to DIY please learn all the correct info and ways of doing things.
For buyer who do not want to pay comm to a seller's agent, then pls call and check whether you are calling an agent representing the seller on the very first instance.
You can use the below sentence as an example.
Eg.
Hi, I am interested in the advertisement I saw on blk 111 XXX estate, are you the marketing agent representing the seller ?
Once this is verified, there will be no misunderstanding about an agent trying to represent both side. You can be smart about it and inform the person you only want to speak to the marketing agent and not anyone else if he reply it's his/her colleague who is the marketing agent.
Or be upfront that you be representing yourself , but do know your stuff before you says that.
I always say this :
An agent job is always deem as easy money when everything goes well,
but when things goes wrong , it is always the agent who try to clear the mess by either side.
You can save your 1% when all goes well, but when things crop up it is always a matter of $10k - $50k and not just the 1% purchase price anymore.
-vinz