Are you planning to buy a flat, or maybe selling your crib for up-gradation, but have no idea about procedures and how to hire a real estate agent in Singapore? In Singapore, engaging real estate agent does not imply you can sit and wait for a property to fall in your lap. You need to check for these six factors that can save you from dishonest posers.

So before saying your housing vows and putting yourself on the dotted line, here are 6 consideration about engaging right real estate agents in Singapore only Singaporeans who have done their homework will know.

Real Estate Industry Hacks! 6 things to consider before hiring a real estate agent in Singapore

1. Only Go with CEA Registered Agent

Do not get fool with a fancy name and expensive business suit. An agent must be registered with CEA or Council of Estate Agencies, which is statutory board. However, if you are concerned about your finesse of inquiring his authenticity to the face, you can check it on a nifty register, where CEA enlist all the registered real estate agents.

2. Your Real Estate Agent Must Clearly Answer About How Long That Property Has Been Out There

The property you are interested in is exactly next to the MRT station, surrounded by malls, its floor is tiled, its kitchen taps and doorknobs are bejeweled. Before signing the contract, verify how long that flat or house has been on the market. If your property agent is not clear about it or if it has been unsold for 3 or more months, there is something fishy.

3. A Real Estate Agent In Singapore Can’t Represent Landlord/Seller And Tenant/Buyer At One Fell Swoop

To avoid conflict of interests, an agent must represent 1 party only, and he cannot pocket commissions from buyer and seller.

4. There Isn’t Any Standard Rate For Commission- So Don’t Hesitate To Negotiate!

Unlike GST or other taxes, the real estate agent’s commissions in Singapore aren’t fixed. So, do not hesitate about negotiating the agent’s fee.

5. Ask Questions To Your Real Estate Agent About A Recent Transactions In That Neighborhood

No matter how super chio is that property is, it must be appropriately priced too. So before hitting the buy button, it is better to have an idea about a couple of recent transactions nearby. By this, you can gauge the evaluation of the house or flat you are looking at.

6. Real Estate Agents In Singapore Must Have Their Focus Areas

No one likes to go with the chemistry teacher with a physics question. Same goes to real estate agents. They tend to focus on specific property types/transactions or locales. If a property agent in Singapore is in a particular property transaction type, for instance, rental properties, he can be better equipped to meet your requirement. An agent focused on certain neighborhoods, will have in-depth knowledge about the prices in that vicinity and future government plans for that area. So before you engage any real estate agent, check out his past transactions and current listings to get a better understanding of his area of expertise.

Author's Bio: 

Misty Jhones