ctfarrer

Afternoon all,

Can anyone shed any light on the housing situation in SG - how do real estate agents work? I am relocating with my family and the company has very kindly given me their real estate agent to speak to. She has explained that there is a service fee to pay (half a mth of rent for each year of contract plus 7% GST). Honestly, I can see why she is only mentioning that 2 year leases are the "best", possibly (cynical, me?) because it's best for her...

Is it worth trying to use one of the large corporate relo companies instead of a local real estate agent, possibly paying one set price but expecting impartial advice and help?
Will I find anyone truly impartial to help with our househunt or is everyone out for a cut of our cash?
Is it worth just going on PropertyGuru and calling up for the places we like and completely doing away with the real estate agen who has been offered to us?

All thoughts welcome please fellow Expat Forum types.
Thanks
Caroline

ex reg

Two years is the usual contract length with a get out clause at 12 months plus 2months totaling 14 months.
Shorter contacts are possible but you'll find little choice.

I'd say your company's agent is a friend of the HR dept.
Not to say you won't get a good service from her.
You could also use another agent, jointly, but there are some regs about that, can't remember off hand. If you really want to know I'll consult the missus.
Agents in Sing are no different from anywhere else imo you have to have your wits about you but you should be OK.
Not a fan of relocation companies myself but why not contact one and see what they have to say.

Try finding something on property guru and then telling your agent to try to see if she can knock something off the price or negotiate new furniture or whatever.It's a pain. My missus took 6 weeks to find the place we wanted and looked at so many.
You may be luckier, don't rush it.

Aren't the places on Property Guru also associated with agents.
iirc The Straits Times may have owners wishing to rent.

ctfarrer

Thanks! If you know the rules about using more than one agent, please let me know. Don't want to do anything naughty before we even get there.

All the best

ex reg

Oops I might have got my knickers twisted.
Apparently I was thinking about if you are renting out or selling a property. In that case if you have an exclusive agent, i.e. you sign up with an agent exclusively and then you finalise a deal with another agent then you also have to pay some dosh to the agent you had the exclusive contract with even though that agent didn't sell or rent out the property for you.

Totally different if you are the buyer or wishing to rent. In that situation you can have as many agents looking for you as you like. Only downside there is you may see the same property a few times with different agents.

The missus was an agent, properly qualified with the extreme exam not the easy qual, but she stopped about 15 years ago and she says the rooles may have changed.

Sorry to bring up a red herring.

Happy to help further if you have any queries.

Daniel Ho

Hi Caroline,

I am an estate agent in Singapore,... i hear knuckles cracking already, but i do give some free advice in forums to help people who are moving to Singapore. I really see myself as a lawyer who defends my client's best interest, and not just any XYZ agent who is only out to earn your commission.

Anyway who is best to consult on real estate besides an agent himself?

The charges for agents here in Singapore is basically as below
1. 1/2 month's rental for 1 year lease
2. 1 month's rental for any lease above 1 year

Most agents will push their client to sign for 2 years as they can earn 1 month commission instead of 1/2, means they earn more. But for me if my client is on EP work permit, means he can only sign max 1.5yrs lease, so I always advise them to sign 1 yr, as no point paying me 1 month commission for a 75% value contract.

Other charges like GST 7%, and stamp duty will also be payable upon signing the tenancy agreement with the landlord

Hope it helps

ctfarrer

Thanks Daniel - appreciate the info.