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HDB Flat Listing Service: A Comprehensive Guide for Buyers and Sellers

Maelyn Lagman

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The Housing & Development Board (HDB) has unveiled its new resale flat listing service, designed to simplify and enhance transparency in the resale market. The platform, which soft-launched on May 13, will eventually integrate with the HDB Flat Portal. Here’s everything you need to know about the new HDB flat listing service.

Key features for buyers, sellers, and property agents

  • Integrated Platform: The service is seamlessly integrated with existing HDB online services, providing a one-stop shop for information on BTO flats, loans, financial calculators to estimate housing budget and potential sale proceeds, documents like the HFE letter, and submitting your complete HDB resale application on a single platform.
  • Enhanced Transparency: Buyers with valid HFE letters can gain access to comprehensive flat details, including recent transaction prices of similar flats, amenities in the area, and personalised payment plans.
  • Duplicate Listing Prevention: As a homeowner, you can only post one listing for sale to prevent duplicates, ensuring the accuracy and reliability of available listings.
  • Price Advisory Prompts: If you are selling, you can receive automatic prompts if your listing price deviates significantly from recent transactions, promoting fair and realistic pricing.
  • Verified Listings: All listings are verified to ensure quality and prevent fraudulent activity.
  • Personalized Agent Dashboard: Property agents can access a dashboard to track their clients’ activities fand provide tailored support.

How HDB’s new flat listing service works

For sellers

  1. Register Intent to Sell: You must register an Intent to Sell with HDB to assess their eligibility. Without a valid Intent to Sell, you will not be able to access the platform. 
  2. Create Listing: Sellers can create a listing themselves or appoint a property agent. 
  3. Upload Photos and Description: As HDB auto-populates essential flat details such as the address, flat type, and floor area, you need only to add photos and a description for marketing purposes.
  4. Manage Viewing Appointments: Once the listing is live, you can create and manage viewing appointments for interested buyers.

Your resale flat listing will remain listed on HDB’s new flat listing service as long as you have a valid Intent to Sell.

Once you have granted the Option to Purchase (OTP) to a buyer, you or your appointed agent can deactivate the listing. It can easily be reactivated should the OTP not be exercised.

Your listing will only be deactivated automatically when a buyer submits a valuation request for the flat after obtaining the OTP, or when HDB has received the complete HDB resale application. 

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For buyers

  1. Browse Listings: You can browse both new and resale flat listings, filtering by location, flat type, and remaining lease.
  2. Customize Search Profile: Set up e-mail alerts for new listings matching your preferences.
  3. Access Detailed Information: View comprehensive flat details, such as recent transaction prices of similar flats nearby, as well as the amenities in the area. 
  4. Book Viewing Appointments: You can only book a viewing appointment if you have a valid HFE letter.
  5. Personalized Payment Plans: You can view personalised payment plans based on approved housing grants and HDB loans if you are eligible.

The future of HDB’s flat listing service

HDB has said that this new flat listing service will be free for now, which indicates the possibility of it being a paid service in the future. 

Can you rely entirely on DIY-ing your property transaction?

DIY vs. Engaging a property agent: Pros and cons

While the HDB flat listing service empowers DIY transactions, engaging a property agent offers valuable expertise and support. Agents can provide personalised advice, negotiate on your behalf, and handle complex paperwork. The decision to DIY or engage an agent depends on your preferences and comfort level.

DIY Pros & Cons

ProsCons
You can save on agent fees, which can be a tad ridiculous at times.Requires research and effort on your extra time, which could be spent on relaxing or Netflix. 
You can manage the process at your own pace. No pressure from an agent eager to close the deal and earn their commission.You may be prone to mistakes or miss opportunities without the expertise of a property agent. 
You can access data and information that are readily available for free. It may be difficult to remain objective when dealing with your own property. 

Engaging an Agent Pros & Cons

ProsCons
You get an expert guide on your side and navigate complex situations with potential buyers, especially during negotiation.You may have to fork out a sizeable amount for a 2-3% agent commission, which could go higher depending on how much more they spent on marketing your listing on property portals. 
Your agent has access to a wide network of potential buyers where you can find the right buyer for your listing. You may have limited control over certain decisions made by your agent, who could be influenced by their own agenda or bias. 

Get the best of both worlds with Ohmyhome!

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