Source : Straits Times – 9 Oct 2009
WE REFER to Ms Kwok Yoke Pui’s letter yesterday, ‘Agents shouldn’t take on dual roles’. Housing Board flat sellers and buyers need not engage estate agents for their resale transactions, although there are benefits in doing so, such as leveraging on an agent’s network for expeditious sales or purchases.
A buyer and seller in a transaction should be represented by separate agents to avoid a potential conflict of interest.
While an agent should act and collect commission from only one party, the buyer or seller, it is also acceptable if the buyer and seller in a transaction agree to have the same agent represent them.
The agent should preferably obtain the written consent of both parties; the same should apply to two agents from the same company who are acting separately for sellers and buyers in the same transaction. Both the seller and buyer should be aware and agree to such an arrangement.
Agents should not insist on representing buyers to obtain a commission, failing which they would not accept any offers to buy on behalf of the sellers.
Such a position is an ethical breach that we do not condone.
We urge Ms Kwok to send us the details of the agents who acted for her so we can look into the matter.
Dr Tan Tee Khoon
Chief Executive Officer
Singapore Accredited Estate Agencies
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