What is the seller buyer commission

In Singapore, the commission structure for property transactions is generally as follows:

For Non-Landed Private Properties (e.g., Condos) and Landed Properties:

• The seller typically pays a commission of 2% of the sale price, although this can sometimes be higher or negotiable, up to 4%.
• Until July 2024, buyers do not pay any commission directly; instead, the seller's agent splits their commission with the buyer's agent. However, starting July 2024, buyers are expected to pay a buyer’s agent fee, anticipated to be around 0.5% to 1% of the sale price.

For HDB Resale Flats:

• The seller usually pays a 2% commission.
• The buyer typically pays a 1% commission, which is usually paid out of the seller’s agent’s 2% commission.

Rental Properties:

• For rental transactions, the commission is usually one month’s rent for a two-year lease and half a month’s rent for a one-year lease. This is typically paid by the landlord to their agent, but if a tenant has an agent, the tenant may also pay a commission.

It's important to note that these commissions are negotiable and can vary based on the property type, value, and the agreement between the agent and the client. Luxury properties may have lower commission rates due to the high absolute amounts involved.