No, under the Estate Agents Act (Cap. 95A), no estate agent or salesperson shall hold or handle any money for or on behalf of any party in relation to the sale and purchase of any property situated in Singapore or lease of HDB property. Therefore, the 4% exercise fee should be handled by the relevant professionals, such as lawyers, to ensure compliance with the regulations.
For more details, you can refer to the
EdgeProp.sg.
