Your search results

Would It Be More Better To Engage One Property Agent Or Multiple Agents In The Selling Process?

Posted by Jayson Ang on August 3, 2023

| 0

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 …

Mandarin Top 5

Top 5 Best Hidden Photography Locations in Singapore

Jayson Ang – October 3, 2024 –

Singapore, a vibrant city-state known for its iconic landmarks and bustling urban landscape, is also home to numerous hidden gems...

Mandarin Top 5

Top 5 Factors : Why Not All Properties Appreciate Steadily

Jayson Ang – January 20, 2025 –

Real estate has long been considered a lucrative investment option, with the potential for significant returns. However, not all properties...

Buying Tips Mandarin Top 5

5 Things to Know About Singapore’s Freehold & Leasehold Properties

Jayson Ang – June 10, 2023 –

5 Things to Know About Singapore's Freehold & Leasehold Properties Here are 5 things you need to know about Singapore's...

All Blog Posts Buying Tips

A Step-by-Step Guide To Upgrading From an HDB Flat To Your a Private Property

Jayson Ang – January 3, 2023 –

TLDR Understanding the complexities of upgrading from an HDB flat to a private property in Singapore involves selling your HDB...

Mandarin Top 5

Top 5 Best Urban Hiking Trails in Singapore

Jayson Ang – June 25, 2025 –

Singapore, known as the Garden City, is a bustling metropolis that offers a multitude of parks and nature reserves for...

All Opinion

Why Can’t We Buy Low, Sell High?

Jayson Ang – February 11, 2024 –

Madam Tan voiced that approximately two years ago, when her apartment hit its minimum occupation period, she and her spouse...

All Buying Tips Opinion

Making Sense of 99-Year Landed Home Investments in Singapore

Jayson Ang – August 25, 2024 –

TLDR Investing in a 99-year leasehold landed property in Singapore can be a lucrative venture due to the country's land...

All Buying Tips

Is the Singapore Property Market Set for a Dip in 2024?

Jayson Ang – January 26, 2024 –

TLDR The Singapore property market is experiencing shifts with Morgan Stanley adjusting its outlook on major developers. A forecast predicts...

Mandarin Top 5

Top 5 Factors: Singapore Property Market: Attractive Investment Opportunity Despite Cooling Measures

Jayson Ang – May 14, 2025 –

The Singapore property market has always been a popular investment choice for both local and foreign investors, thanks to its...

All Blog Posts Buying Tips

The Advantages and Disadvantages of Purchasing an Auction Property in Singapore

Jayson Ang – January 13, 2023 –

TLDR When considering purchasing a property through auction in Singapore, remember that you can potentially get a great deal below...

All Buying Tips Opinion

6 Ultra-Private Condominiums in Singapore Offering Unparalleled Seclusion

Jayson Ang – June 5, 2026 –

TLDR This article highlights six luxury condominiums in Singapore that offer exceptional privacy by having no direct neighbors on the...

Mandarin Top 5

Top 5 Reasons : Why Do Singaporeans Still Flood The Property Market?

Jayson Ang – November 17, 2024 –

Singapore's property market has been a hot topic of discussion for many years, with its resilience and growth attracting both...

All Blog Posts Buying Tips

When Is The Best Time To Buy A New Launch?

Jayson Ang – January 13, 2023 –

TLDR When it comes to new property launches, timing is crucial. Early buyers often secure the best prices due to...

Mandarin Top 5

Top 5 Dim Sum Restaurants in Singapore

Jayson Ang – May 14, 2024 –

Dim sum, a popular culinary delight that originated from China, has made its way into the hearts and taste buds...

All Blog Posts Opinion

Invest During the Bearish & Exit During the Bullish

Jayson Ang – December 27, 2022 –

TLDR A comprehensive overview of the real estate market trends, emphasizing the importance of strategic property analysis and investment decisions....