ST Forum:
Mar 16, 2011
Tackle agents seeking dual rental commissions
THE article by Ms Jessica Cheam last Saturday was timely ("When your agent does not act in your interest").
Although the Council for Estate Agencies (CEA) has banned dual representation, where the same agent cannot represent both buyer and seller, in a sales and purchase agreement, it has said nothing about a rental agreement.
Recently, I purchased a property with tenancy. There was no formal rental agreement between the previous owner and the tenants. When I asked the agent representing the previous owner if he could draft a rental agreement for me and the existing tenants, he boldly asked the tenants for a commission.
The tenants were upset because he was asking for a lot of money. I was upset because he put off my tenants and put a strain on our relationship.
I was in fact ready to pay him a commission for doing the paperwork. However, that does not warrant a commission equivalent to one month's rental because he did no actual work and put up no advertisement in locating the tenants.
I hope CEA would ban agents from collecting commissions from both the landlord and the tenants as there would surely be a conflict of interest.
Sim Ghee Choon
http://www.straitstimes.com/STForum/OnlineStory/STIStory_645434.html
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16Mar2011: Tackle agents seeking dual rental commissions
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