One of his work was to help establish a common framework to facilitate cooperation between consumers and representatives. To that end, it has adopted mandatory real estate contracts that we can use with consumers. These are usually funded wholesale by the various agencies in Singapore, so you will see a “model” real estate contract used everywhere with any agent. In fact, recently in 2019, the AEC now even has a model for leases for HDB apartments and private real estate that was not the case before (i.e. each agent or agency will have its own lease format). So stay with an exclusive agent, if you don`t want potential buyers to start asking questions like, “How come there are so many agents and it`s still not sold? Did all the other agents give up? In general, real estate agents who work exclusively will likely spend more resources and time taking care of your interests. Today, with more and more HDB DIY buyers, the exclusive HDB agent seller can even help in the end with inexperienced HDB buyers, so that offers can be closed properly. That is the reality of today`s market. If you are in a situation where you need to sell urgently, you are better off getting an exclusive one. A single, fearless agent is better than four or five agents who consider you a reflection. In fact, it`s not that simple.

Here`s what you need to know before using an entire army of agents, or give a real estate agent exclusive rights to market your property, whether for sale or rental. If you opt for the non-exclusive agreement, you can nominate several agents that will help you market your property or seek an agreement. You need to coordinate the efforts of real estate agents who are introducing the other part into you so that their efforts do not overlap. Maybe you don`t have the full picture of all the offer prices at a time when agents could update you at different times. Say you are selling your home two months after the end of your exclusive contract. The buyer was someone who was introduced by your exclusive agent. You should always pay the commission to this agent. In an exclusive contract, the owner also agreed not to hire another real estate agent. This is clear in Part 7 in the explanatory notes of Form 5, “Exclusive Real Estate Agency Contract for the Sale of Real Estate.” A brokerage contract is a mandatory contract between you and the real estate agency to protect the interests of both parties. They should receive a copy of the contract signed immediately or as soon as possible. Ask your agent for a copy if it is not extended to you.