What You Need to Know About House Agent Commission in Singapore?

 

Are you thinking about buying or selling a property in Singapore? If so, you need to know about the house agent commission. In this blog post, we will discuss what house agent commission is, how much it costs, and how you can negotiate a fair price.

What is house agent commission?

House agent commission is a fee that is paid to a real estate agent when they successfully help a buyer or seller purchase or sell a property. The standard commission rate in Singapore is 2% of the property's purchase price. This is split between the buyer's agent and the seller's agent, so each agent will receive 1% of the purchase price.

How much does house agent commission cost?

The cost of house agent commission varies depending on the property's purchase price. For example, if the property's purchase price is \$1 million, the commission will be \$20,000. This is split between the buyer's agent and the seller's agent, so each agent will receive \$10,000.

How can I negotiate a fair price for house agent commission?

The commission rate for house agents is negotiable. If you are a buyer, you can try to negotiate a lower commission rate with your agent. If you are a seller, you can try to negotiate a higher commission rate with your agent.

Here are some tips for negotiating a fair price for house agent commission:

·       Do your research. Before you start negotiating, it's a good idea to do some research and understand the standard commission rate in Singapore. You can also ask your agent about their commission rate and what they are willing to negotiate.

·       Be clear about your expectations. When you're negotiating with your agent, it's important to be clear about your expectations. This includes the commission rate and what you expect from the agent in terms of services.

·       Be prepared to walk away. If you're not happy with the commission rate that your agent is offering, be prepared to walk away. There are plenty of other agents out there who would be happy to work with you.

Conclusion:

House agent commission is an important cost to consider when buying or selling a property in Singapore. By understanding how much commission costs and how to negotiate a fair price, you can save money on your property purchase or sale.  If you are looking to sell or buy a condo in Singapore, you've come to the right place. Sell Home is the best option for you! We offer the lowest commission on condo or HDB transactions. Contact us today for more information.