{"id":14349,"date":"2022-05-30T10:00:55","date_gmt":"2022-05-30T02:00:55","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=14349"},"modified":"2023-03-01T00:21:22","modified_gmt":"2023-02-28T16:21:22","slug":"appoint-exclusive-property-agent","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/appoint-exclusive-property-agent\/","title":{"rendered":"When should you appoint an exclusive property agent?"},"content":{"rendered":"
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Make no mistake, going exclusive with a particular property agent can be a gamble. If you get a good agent, you\u2019ll get a quick sale at a good price. Get a bad agent, and several months down the road you\u2019ll feel like you\u2019re stuck in a bad marriage you can’t get yourself out of.<\/p>\r\n\r\n\r\n\r\n

Here are some factors to consider before taking the relationship to a whole new exclusive level.<\/p>\r\n\r\n\r\n\r\n

Exclusive versus multiple property agencies: What\u2019s the difference?<\/b><\/h2>\r\n\r\n\r\n\r\n

When you have an exclusive agreement with a property agent, you agree to buy, sell<\/a> or rent your property only through that agent. As an industry standard, such exclusivity agreements are valid for up to three months.<\/p>\r\n\r\n\r\n\r\n

During those three months, you must pay the commission<\/a> to the appointed agent, even if your house is bought, sold or rented through other means. For example, say you have an exclusive agreement with a property agent, but end up finding a buyer yourself. You would still <\/i>have to pay the commission.<\/p>\r\n\r\n\r\n\r\n

In addition, for up to three months after <\/i>the validity period, you still need to pay the commission if you make a transaction initiated by the agent.<\/p>\r\n\r\n\r\n\r\n

For instance, two months after your exclusive agreement ends, you sell your house. The buyer was someone introduced by your exclusive agent. You would still need to pay the commission to that agent.<\/p>\r\n\r\n\r\n\r\n

For non-exclusive agreements, you can engage multiple agents to buy, sell or rent your property. The commission simply goes to the agent who manages to close the deal for you.<\/p>\r\n\r\n\r\n\r\n

What should be included in the agreement?\u00a0<\/strong><\/h3>\r\n\r\n\r\n\r\n

Whether you choose to sign an exclusive agreement or a non-exclusive one, it should contain<\/a> the following details:<\/p>\r\n\r\n\r\n\r\n