by OrangeTee & Tie Pte Ltd.

Property agents ink new pact to prevent being ‘blocked’ from co-broking and conflict of interest

Corporate News

Meeting unfriendly seller agents who ignore her texts “all the way” is common

Singapore, 28 Nov 2023

On Nov 14, 16 property agencies – representing 88 per cent of the over 34,000 property agents in Singapore – inked a pact in a move to address the issue of agents trying to avoid sharing co-broking commissions.

The signatories included PropNex, ERA Realty Network, Huttons, OrangeTee and Tie and the Singapore Estate Agents Association (SEAA).

The agreement encourages agents to adopt a best practice guide for co-broking commissions from July 1, 2024. It calls for buyer or rental agents to collect commission fees from buyers or tenants, while sellers or landlords pay the agents representing them. These arrangements should be finalised in text before engaging clients.

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