Property Listing Costs Are Rising; Ohmyhome Stays at 1% Agent Fee

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Property Listing Costs Are Rising; Ohmyhome Stays at 1% Agent Fee

Maelyn Lagman

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There was an article talking about how the annual rise of property portal listing costs has been adding to property agent fees. I’m glad they brought it up because it’s true. In fact, many property agencies have been sour about this for a long time.

Every year, the cost of posting a listing on property portals increases

Empty wallet

To make sure your listing is on the first page of search results – the only page that buyers really look at — agents also have to pay quite a hefty sum to keep your listing there. The actual price can go up to about 6 figures a year.

Now, this greatly impacts freelance property agents from the bigger agencies as they’ll have to fork out more cash from their own pockets to advertise the listings of their clients. 

That leads to you having to pay higher agent fees

Asian couple arguing at the dining table over finances

The current market rate can go up to 3 or 4% commission, and now you know you’re essentially paying for the listing costs. They have to make back that advertising spend somehow. 

It’s sort of understandable; freelance agents don’t have much of a choice. Advertising listings on property portals is a surefire way to find serious buyers. Everyone is chronically online, and to get your home sold, your listing has to be where the people are.

While freelance agents are sprinting to keep up with property listing costs, Ohmyhome is not

Ohmyhome property agents sitting on the couch

We understand that there’s so much you have to pay for when selling a home, because that includes financing the purchase of your next home. You may also want to renovate, buy new furniture, and arrange for the moving and cleaning of both properties. And that’s on top of school fees, tuition costs, extra-curricular activities, putting food on the table, paying for your car; basically, the cost of living in Singapore, which is already the most expensive city to live in. 

Ohmyhome remains at 1% commission, despite rising property portal listing costs

We’ve seen this coming a long time ago. That’s why we developed an algorithm that is able to automatically match you to available listings for sale or rent on Ohmyhome at no additional cost for you.

In line with our vision to be the most trusted and comprehensive property solution for everyone, this matching algorithm solves this burgeoning issue within the property industry.

We’ll digitally match you with ready buyers through MATCH

You don’t have to pay such a high agent fee to a freelance agent from one of the bigger agencies to sell your home, thinking that they have a bigger network of ready buyers to bring for a viewing.

Our MATCH algorithm aggregates high-quality data of qualified potential buyers, and match them against all available listings to supercharge your buyer-matching success and HDB-selling speed. 

Here’s how MATCH works:

A poster about how Ohmyhome's MATCH algorithm works
  1. We source for property listings throughout the Internet and our own Ohmyhome app where buyers post what type of home they’re looking to buy, as well as referrals from our in-house agents
  2. Then we digitally evaluate how serious these buyers are 
  1. We test them against our MATCH algorithm
  2. And we recommend your listing to these buyers and encourage them to go for a viewing
  3. We repeat this process to get you multiple offers from serious buyers
  1. And your home is now sold!

Therefore, unlike freelance agents who spend more on advertising listings on property portals, we are equipped with technology that can help you sell your home faster, at no extra cost. It’s also a scalable model; we are currently working to strengthen it further to make your property transaction faster and easier. 

At only 1% commission, you also get a whole team to help you sell your home 

Asian customer service with headset on her laptop

Once you engage Ohmyhome, you’ll be matched with an in-house, salaried property agent specialised in selling HDB resale flats in your area. 

Each of our agents focuses on transacting properties in a specific area in Singapore, which has led to astoundingly successful home sales. They’re more familiar with how to sell the best parts of your neighbourhood to potential buyers and inform them of the recent transactions in your area, speeding up the negotiation process.

You’ll also have a dedicated Relationship Manager who will answer any questions you may have throughout the process. They’ll be available to you until your HDB resale completion appointment and hand over the keys to your buyer. 

With a lesser focus on higher advertising costs, our salaried agents and Relationship Managers spend 100% of their time on optimising your home sale. 

Pay lower agent fees and sell your home at the best price with Ohmyhome

Property agent speaking to a couple

Drop us a message on WhatsApp to speak with us and we’ll connect you with the right property agent who will help you sell your home at the best price and within your preferred timeline. 

But if you’re not ready to speak with an agent, get all the insights you need about your home with Homer AI

Homer AI is our home ownership management & e-Valuation tool that will provide an accurate estimation of your home valuation that’s updated every month, so you can track if it increased, stayed the same, or decreased.

Ohmyhome Co-founder Race Wong sitting on the couch on her phone

Homer AI can also help you:

  • Estimate how high you can sell your home. With an accurate home valuation, you’ll know the exact market rate for your home and negotiate with confidence. 
  • Financially plan for your next dream home. How much do you actually get to keep? Do you have enough for your next home? Relax, leave the calculations to Homer AI.
  • Stay updated on the property market. No more waking up to thousands of news articles about new cooling measures. Get it straight from one source.
For more about Ohmyhome, follow us on Instagram or subscribe to our YouTube channel.

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