In the first place, any sound investment needs a little luck, but mostly an excellent eye and an analytical mind. A much more successful investment requires most of these, along with a talent for selecting a committed, trustworthy and well-informed partner. Prime district property in Singapore does not have any not enough typical property agents who are prepared to introduce a listing of properties from which to purchase and also to help seal off an offer competently. But agents sometimes pack along a set of profession ills --- a tendency to hard-sell by bombarding clients with uninvited offers, deficiencies in commitment to the long-term fascination with the property and a fixation on sealing a package as quickly as you possibly can with little regard for clients' interests.
On the other hand, an ideal working relationship is by using Tenet EC who goes beyond the expectations of an agent. He is an efficient and trusted property agent, but is also one who pays attention to promote trends and price movements, who analyses and follows on new inquiries, and who casts a wide net for both buyers and sellers of different expectations i.e. someone who has had first-hand experience with buying and selling and behaves as an investor himself.
1. CEHA qualifications
The CEHA represents Common Examination for Housing Agents. That is an accreditation scheme for estate agents and agencies that has been in place since 2005. The CEHA is introduced by means of this Singapore Accreditation Estate Agency Scheme (SAEA). The Institute of Estate Agents (IEA) and the Singapore Institute of Surveyors and Valuers (SISV) jointly run this scheme and are supported by the Ministry of Finance, Housing and Development Board and the Inland Revenue Authority of Singapore. The SAEA sets guidelines, minimum educational and practice standards for agents, by the necessity they pass a professional examination. A strict code of conduct is also observed. The aims of the scheme are to boost professional standards in providing a much better service to homebuyers and sellers.
2. Willingness to have a separate account fully for handling clients' money
An agent should continually be willing to help keep clients' monies i.e. option or deposit monies, in a separate bank account from their own. On top of the technicality that clients' monies are held on trust by the estate agent, a knowledge agent should often be ready to take more measures to prevent the instances of the wrongful refusal to refund clients' deposits i.e. rental deposits.
3. Recommended commission fee
To prevent fee undercutting, professional estate agencies/agents usually observe a prescribed scale of fees. In the context of Singapore, a fee of 2% of the sale price is recommended by the SISV, and this is further subject to no less than S$500. Furthermore, the commission/fee for project marketing is negotiable. The Institute of Estate Agents makes recommendations for various kinds of properties/projects. And a real estate agent should really be forthcoming with information on all types of recommended fees.
Like, for private properties, the seller pays at the least 2% of the contracted selling price. The client pays 1% as finder's fee, if an agency is represented by an agent. An agency shall not be accepting any commission/fee from both selling and buying parties in the exact same transaction, without prior knowledge and consent of the parties.
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