Top 5 Tourist Attractions in Singapore
Top 5 Tourist Attractions in Singapore Singapore, a vibrant city-state located in Southeast Asia, is known for its diverse culture,...
Read More
Would It Be More Better To Engage One Property Agent Or Multiple Agents In The Selling Process?
TLDR
When planning to sell your property, you have the option to work with one agent exclusively or non-exclusively. Engaging multiple agents can widen your reach to potential buyers, but it may require more time and effort in managing communication and offers. On the other hand, working exclusively with one agent could lead to more dedicated attention to your transaction. Consider your preferences and needs before deciding on the number of agents to engage.
Are you planning to upgrade to a larger space by selling your current house?
Or are you in search of a rental property?
One viable option is to hire a real estate agent to assist you with your property transaction.
In fact, it’s possible to engage more than one agent if needed. If you’re unsure whether to work with one or multiple agents, keep reading to learn about the factors to consider and what you should be aware of before making a decision.
How To Engage Agents
When you hire a real estate agent, you sign an agreement with their agency, not directly with them.
It is recommended that you sign one of the eight different agreements offered by the Council for Estate Agencies (CEA), which cover all types of residential property transactions.
These agreements specify important details such as the duties of the agency and agent, disclosure of potential conflicts of interest, commission payable only upon completion of the transaction, and whether GST is included in the commission amount.
The agreement should be signed before any work is done, and provides access to CEA’s Dispute Resolution Scheme in case of any contractual disputes.
This scheme offers mediation or arbitration through approved centers, giving you peace of mind.
Differences Between An Exclusive And Non-Exclusive Agreement
If you plan to make an exclusive agreement with an agency, there are some important things to keep in mind:
- The agreement will last for a set amount of time, up to three months. You and the agency may agree on a shorter time frame, but it cannot be longer than three months.
- Even if you close the deal on your own or through another agency during this time, you still have to pay the agreed commission fee to the exclusive agency.
- If, within three months after the exclusive agreement ends, you close the deal with someone the agency introduced you to, you still have to pay the agreed commission fee.
- If you choose to make a non-exclusive agreement with any number of agencies, there is no set time limit, and you only have to pay commission to the agency that actually closes the deal.
What Do These All Mean?
When it comes to your property transaction, you have the option to work with one agent exclusively or non-exclusively.
If you choose a non-exclusive agreement, you are free to work with other agents if you change your mind later on.
However, if you decide to work with multiple agents from different agencies, it is important to sign a non-exclusive agreement with each agency.
Which Is Better – One Or Multiple Agents?
The term “better” varies depending on one’s personal preferences and needs.
Hiring multiple agents can give you access to a wider range of potential buyers or sellers, which may result in a faster transaction.
However, managing communication with several agents individually can be time-consuming.
As a seller working with multiple agents, you will need to compare offers received at different times and ensure that viewing requests are scheduled without overlaps.
Some people prefer to work with just one agent for convenience.
If you choose to work exclusively with an agent, they are likely to devote more time and resources to your transaction because they have a higher chance of earning a commission.
It is recommended that you attach a “Commitment to Service” document when signing an exclusive agreement.
This document specifies the range of services provided, such as advertising frequency and open house sessions. If the agent fails to meet the agreed-upon commitment, you have the right to terminate the agreement.
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
You May Also Like …
7 Essential Tips for Finding Your Perfect Retirement Home
TLDR Searching for a forever home should balance heart and practicality. Avoid homes with stairs, high cabinets, big kitchens, and...
Read More
The Best Time to Invest in Singapore’s Property Market: Timing is Everything
Investing in the property market is a significant decision that requires careful consideration and analysis. One crucial factor that determines...
Read More
When Is the Right Time to Sell Your House?
TLDR When deciding to sell your house in Singapore's competitive real estate market, timing is crucial. Selling during a seller's...
Read More
Why Older Freehold Condominiums Are Losing Their Edge in En‑Bloc Deals (2025)
TLDR Older freehold condominiums in Singapore are losing their edge in en‑bloc deals due to several structural shifts. Developers increasingly...
Read More
5 Essential Tips for Renting Property in Singapore as a Foreigner: A Guide for Newcomers
TLDR Renting property in Singapore as a foreigner can be challenging due to the high cost of living. To navigate...
Read More
Are Early Bird Discounts At New Launches Genuine Or A Marketing Gimmick?
TLDR When considering investing in new property projects, understanding developers' pricing strategies is crucial. Early bird discounts are not just...
Read More
Singapore Homebuyers: Finding Hidden Value in ‘Undesirable’ Property Traits
TLDR Many perceived drawbacks in Singapore’s property market—such as mortgage lock-ins, leasehold status, west-facing units, nearby construction, inefficient spaces, and...
Read More
Top 5 Street Food Markets in Singapore
Singapore, a melting pot of diverse cultures, offers an incredible array of street food that tantalizes the taste buds of...
Read More
5 Key Insights to Take Away from the Latest 2022 Cooling Measures
TLDR Affordability of HDB Market: Government is focused on ensuring affordable public housing and may increase supply if needed. Long-term...
Read More
Why One Family Chose a New Launch 4-Bedroom Unit at Lentor Mansion Over a Resale Condo
TLDR NM’s family chose to buy a 4-bedroom unit at the new launch Lentor Mansion despite elevated condo prices, after...
Read More
Buying a Mega Development Condo? Here are 5 Overlooked Issues You Should Know
TLDR In the world of mega-developments, living in a large condo with over 700 units can bring challenges like ongoing...
Read More
4 Fresh Trends among Young Homebuyers Could Shake Things up in Singapore’s Real Estate Scene
TLDR Younger generation in Singapore is reshaping house hunting by showing a preference for quality of life over location. Millennials...
Read More
Top 5 Japanese Restaurants in Singapore
Singapore, a melting pot of diverse cultures and flavors, offers an incredible array of dining experiences for food lovers. Japanese...
Read More
5 Factors : The Benefits Of Investing In A Property With Good Access To Green Spaces In Singapore
Real estate investment has always been considered a sound investment decision, as it offers long-term growth potential and a reliable...
Read More
Is Renting Out Your HDB to Live in a Condo a Smart Move? How Rentvesting Can Help You Save Money
TLDR Rentvesting is a strategy where individuals rent a home in their desired location while purchasing investment properties in more...
Read More
Top 5 Tips : How Investors Protect Themselves From Risk And Capitalize On Emerging Opportunities In Singapore’s Real Estate Landscape
The real estate landscape in Singapore has always been a lucrative investment opportunity for both local and international investors. However,...
Read More
5 Resources That Can Help You Find Your Dream Home In Singapore
It's 五新房产, Finding your dream home can be a daunting task, but with the right resources, it can be a...
Read More
Discover Affordable Executive Condos in 2024 Starting at $560,000
TLDR The Executive Condos (ECs) offer affordable options compared to private properties in Singapore. Despite price variations, most ECs remain...
Read More
Unlock the Secrets of Property Investment and Transform Your Financial Future!
TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...
Read More
