What is the typical property agent commission in Singapore?
Did you know that the Council for Estate Agencies (CEA), the regulator of property agents, does not set commission rates in Singapore. Instead, individuals are free to negotiate their property agent’s commission fee.
There is however, a “typical” rate. For your benefit, we’ve tried to find an official source of information for these rates. Below are the rates which we have extracted from APAC Realty’s recent Singapore IPO prospectus. The sources for these data include Cushman & Wakefield’s research team. APAC Realty operates as ERA, one of the largest estate agents in Singapore.
Private residential resale
- Seller pays to Seller’s agent: 1 – 2%. In some cases, up to 5% depending on type of property and urgency of seller
- Buyer pays to Buyer’s agent: 0%. Buyer’s agent will share part of the Seller’s agent commission. (commonly referred to as co-broke)
- Seller pays to Seller’s agent: 1 – 2%
- Buyer pays to Buyer’s agent: Up to 1%
Private and HDB residential rental
- For 2 years lease
- If rent is above $3,500: Landlord to pay 1 month’s rent to Landlord’s agent. If Tenant has an agent, agents to split the 1 month’s rent.
- If rent is below $3,500: Landlord to pay 1 month’s rent to Landlord’s agent. Tenant to pay 1 month’s rent to Tenant’s agent.
- For 1 year lease
- Landlord to pay 0.5 month’s rent to Landlord’s agent. Tenant to pay 0.5 month’s rent to Tenant’s agent.
Auctionjia property auction
Tired of negotiating commission fees and going through the long, protracted process of selling your property?
At Auctionjia, we charge a standard fee of 1% for our property auctions, which is a quick, effective method for sellers.
On top of the usual property listings on PropertyGuru and others, we provide a full suite of online and offline marketing services. Find out more about Why you should sell with Auctionjia. Contact our sales team, and we will assign our in-house dedicated salesperson to assist you.