Making property agents do better by consumers
Singapore has over 36,000 property agents. That’s a lot of name cards. But are they all really adding value or just inflating costs? In this episode of PropertyBT, a podcast of BT Correspondents from The Business Times, senior correspondent Leslie Yee sits down with Professor Sing Tien Foo, provost chair at NUS Business School, to dig into the sharp edges of Singapore’s real estate agency scene.
From eyebrow-raising commissions to the rise of a few market giants, this episode pulls no punches. What exactly are you paying for when you engage an agent and should more be done to keep the industry honest?
Why listen?
Because buying a home shouldn’t feel like playing poker blind
Professor Sing breaks down what really happens behind the sales pitch and why the incentives in the current system don’t always work in your favour.
Because new launch commissions are quietly off the charts
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In a hot market, some agents barely need to break a sweat to close a deal. So why are fees climbing to 5% and beyond?
Because five firms dominate nearly 90 per cent of the market
That’s not competition. So is it consolidation? And it raises real questions about pricing power, choice, and whether the little guys stand a chance.
Because too many agents don’t actually transact
If you’re wondering why productivity’s an issue, consider this: nearly half of all licensed agents don’t close a single deal a year. So why are they still in the game?
And because HDB resale is big business
Should the government step in and play matchmaker to cut out the middleman? Professor Sing says maybe. At least for those who want a DIY option with fewer headaches and fewer fees.
Listen now for a clear-eyed look at the people and policies shaping your biggest financial decision—buying your home.
PropertyBT is a podcast of BT Correspondents. Look out for the next episode featuring senior correspondent Ben Paul. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
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Written and hosted by: Leslie Yee (lyee@sph.com.sg)
With Prof Sing Tien Foo, provost’s chair professor, Department of Real Estate, NUS Business School
Edited by: Emily Liu & Claressa Monteiro
Produced by: Leslie Yee, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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