As we’ve discussed in a previous article, the way we sell homes today is vastly different from even five years ago. We’re not just talking about the technological advancements that have made transacting easier, like 3D video tours and seller-buyer matching algorithms.
One of the biggest changes we’ve seen in the market recently has to do with property agent fees.
You may have heard of friends or acquaintances paying 2-3% in agent fees when they sold their home. (Sometimes even higher!) Those were the days when agent fees were adjusted depending on the situation.
Like, if the property is “harder” to sell or if it’s been in the market for a long time, agents may raise their commission rate to accommodate the longer hours they need to put in to convince potential buyers to put down an offer… Arrange viewings and negotiate with the buyers’ agents… Or optimise the listing by raising the ad spend on property portals so it can get more exposure.
Property agents may also raise their commission rate as an incentive to fetch a higher price for the property. For example, if the property can be sold for over a million, some may ask for a higher commission.
But this has largely changed in the last few years.
These days, property agent fees can be as low as 1%.
At Ohmyhome, this is fixed. It does not change regardless of the amount of marketing resources required to sell your flat for a good price.
But while lower agent fees may sound like good news to those who are looking to save on agent commission, there may be some of you who have doubts about the quality of service you’ll get from your property agent if they’re only getting 1% of the sale price.
Now, we can’t speak for other agents, but we can assure you that at Ohmyhome, we don’t compromise the quality of our agent services just so we can offer you lower agent fees. With us, you can get the best of both worlds. Here’s how:
#1. You don’t have to pay us a single cent if we don’t sell your home within the exclusive period
While some property agents may ask for an upfront fee or deposit before successfully selling your home, at Ohmyhome, we will only collect agent fees until after the Completion Appointment. Of course, this is also assuming that the home was sold within the 3-month exclusivity period.
#2. Our property agents are salaried
The main reason we can confidently say that our agents are not commission-hungry is because they don’t actually depend on commissions to make a living — unlike property agents who are incentivised to sell homes, and thus raise their agent fee.
#3. You get the support of the whole company, not just the agent
We don’t scrimp on the support we give you. So not only will you get a property agent to sell your home, but you also get a responsive team of Relationship Managers who are always ready to answer any of your questions. (It only takes a minute to get a response from us.) They are available from 9 am to 9 pm daily to render assistance to you.
#4. Switch to another Ohmyhome property agent, no questions asked
While other agencies may require you to stick to a property agent until your transaction is completed, we understand that selling your home is a big, personal decision. Therefore, we provide you with the flexibility to switch property agents until you find one that you can personally vibe with and feel comfortable entrusting your home transaction to. We want not only the top agent for you, but the right one.
Once you’ve signed up for our services, you’ll be assigned an Ohmyhome property agent who:
- Specialises in selling homes in your area, which you can check on CEA. If you live in, say, Punggol, you can be confident that we’ll have an agent who’s highly experienced in selling HDBs in that area. And we’ll assign you that agent so he/she would know how to market your home and get you the optimal price for it.
- Offers various marketing strategies that go beyond the distribution of flyers, digital ads, and property listings. Good real estate agents understand how to work lighting, furniture and photography to generate aesthetically pleasing home stagings that draw in eyeballs and clicks.
- Taps onto their professional network of contacts built up over the course of their career to ensure that your home listing gets the maximum amount of exposure that’s possible.
- Actively represents you in any dealings with potential property buyers, from coordinating and scheduling home visits to negotiating on your behalf.
- Filters out quality leads to ensure that you only spend your time with serious buyers. As professionals, they will be able to process a higher volume of inquiries. and analyse your home and upsell specific components to ensure that you get a favourable price for your sale.
We will also comb through our extensive database (one of the largest in Singapore) to find a buyer whose requirements best matches what your property can offer. With over 175,000 transactors using our smart data technology each month, you can be sure of finding a match. We’ll also market your property on major listing platforms and boost it for higher exposure.
Our marketing efforts will typically guarantee that you will receive a high number of enquiries. This will allow you to command a higher price, because the more buyers, the higher the price your house can fetch. If you’re pressed for time, don’t worry, because you won’t have to deal with all the queries–your Ohmyhome property agent will.
Instead, simply sit back and wait for our agents to prepare a list of curated offers along with a customised home report consisting of current market trends and past transactions of similar properties in your area. The best part is that this report is sent directly to you via Whatsapp. From there, you’ll have a better idea of how to price your home.
If you’re interested in our agent services, you can contact us here. Or simply type in your questions into the live chat box located at the bottom, right-hand corner of the screen, or drop us a message on Whatsapp if you’re on the move.
If you’d like to put up a listing first or get an idea of how your property will be presented on our platforms, simply download the Ohmyhome App that’s available on both Google Play and the Apple Store.
Frequently asked questions about agent fees for selling HDB
What is Ohmyhome’s agent fee for selling HDB?
Our HDB seller agent’s commission is 1% of the selling price + GST.
Property agent commission for selling private property with Ohmyhome?
Our agent fees for condos and landed property start from 1%. Considering that private property agents can collect commissions of 5% or more for high value transactions, you’ll be saving yourself tens or even hundreds of thousands of dollars by engaging us.