Serious No future for property agents as homeowners and buyers go DIY, huat ah!

[bushtucker]

i am confused. i thought property transactions have to be brokered by a licensed property agent? since when can sinkies perform direct buying and selling of property?

look at this article:
http://www.straitstimes.com/singapo...conducting-estate-agency-work-without-licence

"It added that under the Estate Agents Act, it is an offence for someone to act as an estate agent or salesperson in any property transaction without first being licensed or registered with CEA."

 

[garlic]

i am confused. i thought property transactions have to be brokered by a licensed property agent? since when can sinkies perform direct buying and selling of property?

look at this article:
http://www.straitstimes.com/singapo...conducting-estate-agency-work-without-licence

"It added that under the Estate Agents Act, it is an offence for someone to act as an estate agent or salesperson in any property transaction without first being licensed or registered with CEA."

It means acting as a third-party, i.e. acting in the interests of buyer or seller. Owner ownself sell, with no commission gained, no problem. One can't be a facilitator of any capacity in a real-estate deal without a license. But owner ownself sell is acting in own interest and not brokering a deal between two parties, (i.e. an agent) and therefore not entitled to a commission, buyer also no need to pay commission when buying from owner direct.