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News - Detailed News Story

Frasers Property

Stock Chart
Last Done 1.710
Change - (-)
Volume 2.3
Range 1.710 - 1.720

Oxley

Stock Chart
Last Done 0.355
Change - (-)
Volume 72.4
Range 0.355 - 0.360

CityDev

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Last Done 10.580
Change +0.030 (+0.28%)
Volume 272.9
Range 10.540 - 10.650

APAC Realty

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Last Done 0.495
Change - (-)
Volume 13
Range 0.495 - 0.495

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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