Best Practice Guide for Co-broking Commission – wef 1 July 2024
SEAA has signed the MOU with 60 estate agencies (representing more than 90% of the agents) to date to adopt the following Best Practice Guide for Co-Broking Commission.
The guide advocates the agents to collect commission from the party they represent and to agree all commission fee arrangements prior to any engagement with the clients. This means that the buyer’s agent should collect their commission from the buyer, seller’s agent should collect their commission from the seller and the same principle applies to tenancy commission. This will align us with most real estate market jurisdictions around the world where real estate representation is very clear.
