How does an agent charge for representing the seller of an industrial property?

For industrial property sales in Singapore, a property agent typically charges the seller a commission, which commonly ranges from 1% to 2% of the transaction price. This commission rate can be negotiated and may vary depending on the size, value, and complexity of the property and transaction.

The agent's commission is usually payable upon successful completion of the sale. There is usually no fixed salary for agents, as their earnings are typically commission-based. The seller and agent will agree on the exact commission rate and any additional marketing costs before signing the agency agreement. It's important to discuss and document all fees and services upfront to avoid misunderstandings.

Do note that, besides agent commission, the seller may have to account for other potential transaction costs such as Seller’s Stamp Duty (SSD), GST if applicable, and legal fees related to the industrial property sale.