SEAA joins hands with the Law Society of Singapore and signs two MOU in November 2024. These MOU will take effect from 01st July 2024. We would like to share with you some key points that you need to note.

This MOU was signed at Singapore KEOs and Leaders Conference 2023 held at Lifelong Learning Institute, Lecture Theatre on 14 November 2023  The event was attended by Guest-of-Honour, Associate Professor Muhammad Faishal Ibrahim, Minister of State, Ministry of Home Affairs & Ministry of National Development. It also brought together key players and stakeholders from the real estate agency industry.

What is the big change? Well to put it simply Agents should collect commission from who he or she represents, i.e., Seller’s agent to collect from seller, Buyer’s agent to collect from the buyer. The same applies to tenancy commission, Landlord’s agents will collect from landlords, and Tenant’s agents from tenants. This is the arrangement the MOU seeks to achieve.

For Best Practice Guide on Co-broking Commission, CLICK HERE

For the list of the agencies that have signed the MOU with SEAA.
CLICK HERE

For the full official article for SEAA please CLICK HERE