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News - Detailed News Story

Frasers Property

Stock Chart
Last Done 1.750
Change -0.010 (-0.57%)
Volume 1,503.3
Range 1.740 - 1.770

Oxley

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Last Done 0.305
Change -0.005 (-1.61%)
Volume 1,974.5
Range 0.305 - 0.315

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Volume 3,138.5
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Last Done 0.505
Change -0.005 (-0.98%)
Volume 291.6
Range 0.500 - 0.510

Developers dangle higher commissions to clear less ideal units

13 Aug 2019 09:00

By Nisha Ramchandani

nishar@sph.com.sg

SOME developers are dangling fatter commissions to incentivise property agents to help clear inventory.

A check with property agents suggested that commissions in some cases could rise to 3-4 per cent, or more. Developers may also wheel out incentives or a cash bonus when it comes to units that are harder to sell, such as ground-floor units or units with a less-attractive facing, as agents need to work harder to find suitable buyers once the choice units are snapped up.

"It has been mostly the boutique to mid-sized developers who pay out higher-than-normal commissions for the unsold inventory in their high-end basket of projects," said Alan Cheong, Savills' executive director (research & consultancy).


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Source: Business Times
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