24 Sep '13, 4am

Now harder for agents to make money on the side #Property #Singapore

One agent revealed that the number of agents investing in local properties accounts for around three percent of the total number of buyers. “In a pool of about 200 to 300 buyers for a local development, agents may constitute about three percent. For overseas projects, say a good weekend where you have maybe 10 to 20 buyers, agents can make up about 20 percent. But that's because the plate is smaller,” he explained. Such investments could take the form of a single buyer, or a group of buyers banding together to take up a loan or acquire a property under the name of one person. Thereafter, they would draw a separate legal agreement stating how the loan and ownership of the property will be divided. During the en bloc fever, property agents would buy into developments on the brink of triggering a collective sale, another agent said. “If the en bloc sale goes through they woul...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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