Who is responsible for paying the agent commission when buying a resale condo, and what is the typical commission amount

In Singapore, when buying a resale condo, the seller typically pays the agent's commission for both the seller's agent and the buyer's agent, as part of the overall transaction costs deducted from the sale proceeds. This is a common practice in resale transactions, where the seller agrees to cover these fees in the sales agreement to facilitate the deal.

The commission rate is negotiable and not fixed by law, but it usually ranges from 1% to 2% + GST of the sale price per agent (so potentially 2% to 4% total if both agents are involved). Some agents offer competitive rates as low as 1% + GST for sellers, bundling services like professional photography, virtual tours, and market analysis to justify the fee. Buyers do not pay commission directly unless they exclusively engage their own agent without a seller's agent involved, in which case it would be negotiated separately.

For the most accurate and up-to-date details on your specific resale condo purchase, check listings and agent services on EdgeProp Singapore.