Information On Commission
Real Estate agents preserve a proportion of the purchase price as their charge. Once you take up the services of a real estate agent to either sell your belongings or to seek for a property for yourself, then it is implied that they will earn a fraction of the purchase price. The amount that they will inherit is subject to the approval of both parties. There are originally two agents involved in a real estate transaction, in which the fee is divided between the two.
The Singapore Institute of Estate Agents or IEA has confirmed and published the suggested commission / fee for real estate transactions. Please click:
Professional Fee / Commission for Real Estate Agents / Agencies
Few questions relevant to commissions that you can enquire about:
Will my asset be jotted down in the Multiple Listing Service (MLS)?
When you jot down your asset in the MLS, you grant all agents the right to expose your asset to their potential buyer. This may guide to a higher price or deal and a shorter waiting period before your asset is dealt with.
Which internet marketing will you opt for?
Quite a number of websites have good feedbacks in terms of traffic to their site and visibility of their ads. You may want to consider posting your asset with them. Ask your real estate agent as to which websites do they use to promote your asset and give ideas on the websites that you like it to be seen. Also, ask how wide-ranging the revelation of your asset is. How frequently will it be advertised? How is it done?
State the multi-media marketing alternatives that you use? Is Virtual Tours provided? Will they stream the video of your property 24/7? Which website can it be found in?
What special and personalized services do you provide?
Do not be nervous to try out different marketing and advertising plan to advertise your asset. Find out how different the marketing strategies of your agent are.
State the result of the additional incentives on the firm representing the buyer? Part of the costs from the sale of the asset is usually divided between the purchaser’s agent and the seller’s agent. If the commission received by the purchaser’s agent is less than the standard percentage, they may lose the keenness to persuade the buyer to select your asset. Try rising the commission they collect so as to also increase its publicity to other buyers’ agents, anticipating to get a part of that fee.
State the consequence of your marketing to other agencies? It is better to market your asset to different agents instead of having an open house or spending more on open advertising. Only a fistful of assets are actually sold through these methods. Sales are usually from buyers who were brought by agents. So if you really desire to sell your assets quickly, publicize to the agents and they will get the dealers to you.
Finally, ask yourself...
What is more significant - receiving the maximum money from your sale, or giving the lowest sales fee? Make your mind up which one you value most so as to know how to value and settle the price of your asset.
Do not let discount brokers trick you. The charge that agents get is generally used for revenue, marketing and overhead. Since the overhead expenses are chiefly constant in worth, they either cut down on earnings or marketing, with marketing being the most rational choice to cut down on. Lesser charge means lesser marketing. Lesser marketing means lesser opportunities for your asset to sell. Lesser opportunities to sell your property will eventually end up in selling for a lesser cost.