07 Feb '18, 11am

Council for Estate Agencies

Co-broking, a common practice in the real estate agency industry, refers to a situation when two or more property agents (representing counterparties to the transaction) are involved in the same property transaction. The agents work together to achieve the best possible outcome for their respective clients. The agents representing both sides would have to agree to the co-brokerage fee upfront having regard to their duties to act in their respective client’s best interests. The sharing of commission in a property transaction is strictly an agreement between the two agents. However, according to Clause 1.8.3 of the Professional Service Manual , an agent cannot collect commission from his client and another co-broke fee from the agent representing the other party in the same transaction. Simply, the sharing of the commission is allowed only for property transactions where onl...

Full article: https://www.cea.gov.sg/docs/default-source/module/newslet...

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