In good hands

Here are some ways to pick a reliable property agent

Siti Rohani

BUYING or selling a home can be stressful.

Anyone who has gone through the process can attest to hours of research and paperwork, as well as sometimes-tense negotiations with sellers.

A good property agent should reduce this stress. Apart from doing the paperwork, a good agent should also dole out advice should things go wrong.

If you are selling a property, your agent needs to market it effectively and creatively, conduct open houses and negotiate with interested buyers.

If you are looking to buy a home, he should search for a unit that meets your needs and help you get it at the best price.

There are more than 28,000 registered property agents in Singapore, according to figures released by the Council for Estate Agencies last January.

To find the ideal agent, heed these dos and don’ts:

DOs

1. Check that your agent is registered

This first step is crucial. Never mind their fancy name cards — don’t assume your agent is registered under the Council for Estate Agencies.

Go to www.cea.gov.sg and conduct a search using the person’s name or registration number, which should begin and end with a letter and have six numbers in between.

2. Make sure your agent is aware of all the latest regulations

Housing regulations change often. It is an agent's responsibility to be up to date with these changes. Ask your agent many questions — it will quickly be clear whether he knows his stuff.

He must be able to advise you on the latest rulings, such as ensuring you do not exceed the Total Debt Servicing Ratio or knowing if you are eligible for a grant.

3. Experience and knowledge

An experienced agent may charge a higher commission, but he may get you a better price for your property by being proactive, listening to you, having a good network of contacts and offering good advice — for example, whether to accept an offer or wait for something better.

DONT's

1. Don’t choose a relative or friend out of obligation

With nearly 30,000 agents in Singapore, many of us know someone who is a property agent. But it may be hard to maintain good relations with that person and get the best price — so it is best not to mix business with friendship or family.

2. Don’t be bullied into making a decision

If you have picked the right agent, he won’t pressure you to make a decision or accept an offer from a buyer even if the price is below your expectation. Whatever the pressure, stand your ground. You can always get another agent.

3. Don't let your agent do all the talking

If you find it hard to get a word in when speaking to a prospective agent, look for someone else. You should be the one doing most of the talking so your agent understands what you are looking for. He should be asking you questions and taking note of your needs.