It is definitely possible to conduct property transaction by DIY method. HDB regularly conducts HDB resale seminars for those flat owners who choose to do without real estate agents for their own property transaction. However, having an agent to represent and assist you has its merits.
1. Valuable time will definitely be saved by engaging an agent to do all the paper work and legwork on your behalf.
- marketing & advertising
- enquiries
- arrangement & coordination of viewings
- negotiations
- documentation & submission
- search for background information (for purchases).
2. He/she can advise you on the regulations and procedures of property transaction and update you with the latest changes in government policy.
3. Within his/her wide network, the agent may already have potential buyers/tenants on hand and thus you can sell/rent out your property in double quick time.
4. As for purchases or rentals, an agent will have a better chance to locate the best choice property based on your requirements, since he/she has access to many sources of property listings.
Advantage of Engaging a Real Estate Agent :
1. The Agent has the expertise in deciding the fair market value of your property.
2. The Agent will save you the trouble of qualifying a prospective buyer by filtering the prospects based on HDB rules & regulations.
3. You can be saved from the troublesome and time consuming task in dealing with each and every prospect regardless he is genuine or not.
4. The Agent with the negotiation skills, will conduct the entire transaction process objectively and assist you to achieve most desired results.
5. The Agent can advise you on existing market situation to facilitate timely decision making.
6. You have the benefit and support in terms of legal and finance advice from the agency firm whom the Agent is associated with.
Needless to say, such benefits surely outweight the commission paid to the agent.
Appointing the right real estate agent isn't easy as it is a large unregulated industry whereby licences are issued only to property agencies and not to individual agents. Since January 2006, Singapore Institute of Surveyors & Valuers (SISV) together with The Institute of Real Estate Agents (IEA) have jointly established an accreditation scheme of estate agents called Singapore Accredited Estate Agencies (SAEA). Accredited agencies identifies themselves as "SAEA Agency" while qualified agents associated with the accredited agencies can apply to use the initial "SAEA Agent". SAEA is being promoted as a brand name as having achieved certain professional standards of estate agency. The general public which seeks the services of SAEA accredited estate agents will be assured of competent services of a reasonable standard. Moreover, both accredited agencies and agents can avail themselves to mediation and other dispute resolution services at the SISV Mediation Centre.
In this regard, estate agents under SAEA scheme are generally competent and proficient in their work and equipped with the necessary knowledge and skills when advising on your property transactions and deals. It will be a wise move to appoint such SAEA agents.
Nevertheless, it is advisable to take your time. Don't appoint an agent in a hurry or get cornered into signing an exclusive contract. Let him/her impress you with his/her track record, skills and sincerity, but not with gimmicks like discounts and "special promotion" or illegal "cash back" for you.
10 Reasons for Selecting Me As Your Real Estate Agent
(Cert-in-CEHA, SAEA Agent)
Email: [email protected]