Competition watchdog wants fees guidelines for property agents removed
Currently, the Institute of Estate Agents generally recommends a 2 per cent commission for estate agents. -ST
Tue, Aug 05, 2008
The Straits Times
By Jessica Cheam
This means agents and agencies are now free to set their own fees.
The latest development comes as the industry is moving towards self-regulation.
Agency bosses responded to the new move, which kicks in on Sept 25, with mixed reactions. Some say this will lead to agents marking up their own fees, while others think agents will provide better service at competitive rates.
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