HOW DO YOUR FEES WORK?
Our fees for Vendors and Purchasers are negotiated and agreed upon in writing. It can be a percentage of the contracted price as sales commission. Depending on the requirements and complexity of the transaction, it typically ranges from 2% to 4% (subject to GST) on the transacted price at time of completion.
WHAT ABOUT FEES FOR LEASES?
Our fees for Landlords and Tenants are dependent on the rent and duration of the lease. Commission rates are usually based on the contracted rent and duration of the lease. Rates are subject to GST.
WHY ARE THE RATES NOT FIXED?
CEA does not fix commission rates or provide commission guidelines so as to allow market forces to drive competitive pricing in the industry. Salespersons will then have the incentive to price their services competitively, and you, as a consumer, can negotiate the best rates for the services you require.
GOODS AND SERVICES TAX
All commission payable are subject to GST in accordance to the Goods and Service Tax Act. The current rate is 7%. The GST rate will be increased in two steps. The first rate change from 7% to 8% will take effect from 1 Jan 2023. For more information, please refer to IRAS.