Fraud Blocker
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:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. 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 …


2024 Residential Property Market Outlook
All Buying Tips Reports

2024 Residential Property Market Outlook

TLDR The market outlook for 2024 suggests continued uncertainties affecting housing demand and risk appetite due to geopolitical tensions, macroeconomic...
Read More
Discover 5 Reasons Executive Condominiums Could Prove To Be A Smart Investment Despite Growing Inflation
All Blog Posts Opinion

Discover 5 Reasons Executive Condominiums Could Prove To Be A Smart Investment Despite Growing Inflation

TLDR An overview of the article discussing the benefits of Executive Condominiums (ECs) over private condos in the current real...
Read More
The Top 5 Renovation Tips For Increasing The Value Of Your Singapore Property Investment
Mandarin Top 5

The Top 5 Renovation Tips For Increasing The Value Of Your Singapore Property Investment

When it comes to increasing the value of your Singapore property investment, strategic renovations can make a significant difference. Here...
Read More
Why Selling Your Own HDB Flat May Be More Challenging Than You Anticipate: 7 Hidden Challenges to Prepare For
All Opinion Selling Tips

Why Selling Your Own HDB Flat May Be More Challenging Than You Anticipate: 7 Hidden Challenges to Prepare For

TLDR Selling your flat can be a daunting task, not because of the paperwork but due to challenges in marketing...
Read More
How Can Real Estate Investment Help You to Combat Inflation?
All Blog Posts Opinion

How Can Real Estate Investment Help You to Combat Inflation?

TLDR When it comes to real estate investments in Singapore amidst rising inflation rates, consider strategies such as capitalizing on...
Read More
Why Some New Condo Releases Outperform Others
All Buying Tips Opinion

Why Some New Condo Releases Outperform Others

TLDR When it comes to the real estate market, familiarity plays a crucial role in the success of larger condo...
Read More
What’s The Difference Between An Offer To Purchase And An Option To Purchase?
All Blog Posts Buying Tips

What’s The Difference Between An Offer To Purchase And An Option To Purchase?

TLDR Understanding the crucial difference between an Offer to Purchase and an Option to Purchase (OTP) is vital when buying...
Read More
Top 5 Reasons Why Singapore’s Property Market Is A Haven For High Net Worth Investors
Mandarin Top 5

Top 5 Reasons Why Singapore’s Property Market Is A Haven For High Net Worth Investors

Singapore's property market has long been a magnet for high net worth investors, both local and international. The city-state's strategic...
Read More
HDB Market Outlook 2023
All Blog Posts

HDB Market Outlook 2023

TLDR: Understanding the HDB Market Outlook 2023 The HDB resale market showed resilience in 2022, with significant growth in sales...
Read More
6 Myths About Using Your CPF For Housing
All Blog Posts Buying Tips

6 Myths About Using Your CPF For Housing

TLDR When it comes to purchasing a house in Singapore using CPF funds, there are several myths that need to...
Read More
Downpayment For Condo: How Much Do First-Timers Need In Singapore?
All Buying Tips

Downpayment For Condo: How Much Do First-Timers Need In Singapore?

TLDR The blog post delves into the complexities of condo downpayments in Singapore in light of the impact of Covid-19...
Read More
When to Strike Gold: The Ultimate Guide to Selling Your House in Singapore!
All Buying Tips

When to Strike Gold: The Ultimate Guide to Selling Your House in Singapore!

TLDR When deciding the best time to sell your property, consider various factors such as market trends, financial goals, and...
Read More
Singapore Decoupling Guide
All Blog Posts Buying Tips

Singapore Decoupling Guide

TLDR Decoupling in Singapore's real estate refers to the process of separating property ownership to avoid Additional Buyer's Stamp Duty...
Read More
Singapore’s Urban Landscape Transformation: 5 Key Things You Need to Know
Mandarin Top 5

Singapore’s Urban Landscape Transformation: 5 Key Things You Need to Know

Singapore's urban landscape has undergone significant changes over the years, with the city constantly evolving to create a sustainable and...
Read More
Exploring the Resale Condo Market? Here’s What to Watch Out For!
All Blog Posts Buying Tips

Exploring the Resale Condo Market? Here’s What to Watch Out For!

TLDR The impact of COVID-19 on Singapore's real estate market has been significant, leading to a surge in demand for...
Read More
Top 5 Reasons : Why Jayson Ang is the Best Property Agent in Singapore. And Why You Should Engage Him Today
Mandarin Top 5

Top 5 Reasons : Why Jayson Ang is the Best Property Agent in Singapore. And Why You Should Engage Him Today

In the bustling city-state of Singapore, the real estate market is highly competitive and constantly evolving. Finding the perfect property...
Read More
Your Key to a Happy Retirement in Your HDB? Let’s Unveil The Mystery Behind the Lease Buyback Scheme!
All Buying Tips

Your Key to a Happy Retirement in Your HDB? Let’s Unveil The Mystery Behind the Lease Buyback Scheme!

TLDR The Lease Buyback Scheme (LBS) is gaining traction among older Singaporeans looking to boost their retirement income by selling...
Read More
5 Reasons To Invest In UK Property In 2024 Instead Of Saving
All Buying Tips

5 Reasons To Invest In UK Property In 2024 Instead Of Saving

TLDR Investing in UK property in 2024 offers significant advantages over saving due to the potential for long-term value growth,...
Read More
Top 5 Shopping Malls in Singapore for Luxury Shopping
Mandarin Top 5

Top 5 Shopping Malls in Singapore for Luxury Shopping

Singapore, a bustling city-state known for its stunning architecture and diverse culture, is also a paradise for luxury shopping enthusiasts....
Read More
Top 5 Rooftop Bars in Singapore with Amazing Views
Mandarin Top 5

Top 5 Rooftop Bars in Singapore with Amazing Views

Top 5 Rooftop Bars in Singapore with Amazing Views Singapore, the Lion City, is known for its stunning skyline and...
Read More
1 2 3 29

Compare Listings