Buying a property in Singapore
1. An agent should know how long the property has been on the market
The apartment you’re looking at is right beside the MRT station, and it’s surrounded by luxurious shopping malls. The floor is marble tiled, the doorknobs are bejewelled, and the kitchen taps appear to be made of the purest gold.
Before you rush to sign that contract, take a step back and ask your agent how long the property has been on the market. If it’s been sitting out there for three months or longer despite a reasonable price, chances are, there’s a catch somewhere.
3. An agent cannot represent both the buyer/tenant and seller/landlord at the same time
Just like those petty disputes back in school where your friends made you pick a side, your property agent has a choice to make here. In order to prevent a conflict of interest, each agent can only represent one party in every transaction.
That means no pocketing commissions from both parties. So if you’re the one paying the property agent, you can be sure that he’s on your side!