COMMISSION / STAMP DUTY

COMMISSION / STAMP DUTY

**Important - All Clients Must Read**

Agents registered with Agencies charge their customers for the services provided,  the following professional fees / commission rates (plus the prevailing rate of Goods & Services Tax).

All fees are strictly payable directly to the Agent's company.

Note that to avoid a conflict of interest, dual representation is strictly not allowed, and we only serve either the Vendor or Buyer or either the Landlord or the Tenant.

RENTALS (no dual representation allowed)

Landlord -

When the rental price is above S$3,500 pm :
1 month commission for 2 year lease; 1.5 month commission for 3 year lease;
0.5 month commission per year of lease extension if option to renew is exercised.

** Payment is due on the day of signing of the Tenancy Agreement by the Landlord and the Tenant

Tenant -

None due when the rental price is above S$3,500 pm*

*Unless the Landlord isn't paying the fee / commission, in which case the ** fees above are applicable

EXCLUSIVE HOME SEARCH

To ensure an effective and customized Home Search service, the agent only represents clients who are not using other agents. This avoids duplicating efforts and creating confusion, while increasing focus, time efficiency and motivation

FORFEITED DEPOSIT  

In the case of an aborted Tenancy, the commission shall be one half (1/2) of the amount of the deposit forfeited by the party plus GST subject to a maximum sum equivalent to the agreed commission plus GST

STAMP DUTY FEE

The Tenant pays the Stamp Duty fee. The Tenant's can issue a cheque for the amount payable to Agent's company which in turn is then paid to the Inland Revenue Authority of Singapore.
Stamp Fee is calculated based on Annual Rent using the following rules:-

If the lease term does not exceed 1 year - S$1 for every S$250 or part thereof of annual rent

If the lease term exceeds 1 year, but does not exceed 3 years - S$2 for every S$250 or part thereof of annual rent

If the lease term exceeds 3 years, or has any indefinite term - S$4 for every S$250 or part thereof of annual rent.

For more information on Stamp Duty and the calculation formula go to: http://www.iras.gov.sg/irasHome/page04_ektid1832.aspx

SALES (no dual representation allowed)

PRIVATE PROPERTY

Vendor

2-3% of contracted sales price as commission. Payment is due on the day of sales completion and paid through the property conveyancing lawyer

Buyer  

0%*

*Unless the Vendor isn't paying the fee / commission, in which case the Buyer pays the 1-3% of contracted sales price as commission

FORFEITED DEPOSIT

In the case of an aborted Sale, the commission shall be one half (1/2) of the amount of the deposit forfeited by the party plus GST subject to a maximum sum equivalent to the agreed commission plus GST

STAMP DUTY FEE & OTHER FEES

Please be advised by your property conveyancing lawyer for the current rates

HANDLING OF CLIENTS FUNDS

The Agent's company is a licensed real estate agency and will issue the invoice to you directly. Do not pay cash directly to your assigned property agent / realtor, instead, issue payment via cheque to his/her company.

GOODS & SERVICES TAX (GST)

Agencies shall charge their clients and co-brokers the prevailing GST even if the other party / Agency are not GST-registered. GST is a tax payable to the Government and it cannot be evaded. It is an offence to evade it.
Non-payment of GST will result in our legal representative seeking recovery.

Other Services

Agencies clients are offered a personalised service to ensure that their experience with them is a very pleasant one. We always strive for client satisfaction and is an established company that consumers can trust. Professional Indemnity Insurance is mandatory for all our agents to protect the clients. Our agents are certified with a recognized real estate salesperson qualification and must also fulfill Continuous Professional Development (CPD) every year