HDB launches resale flat listing portal for owners

The website will systematically be refreshed, factoring in the ethnic integration policy (EIP) and Singapore Permanent Resident (SPR) quota for the advertisements. It will definitely save the property owner and the salesperson time visiting monthly, says Huttons’ Lee.

Allowing only customers with HFE to contact the owner or representative agent provides a tighter and a lot more regulated setup, making up mostly genuine customers and sellers. Nonetheless, the downside is that sellers might not be touching the whole interest pool for their flat as some interested buyers might not have a valid HFE letter yet and will not be able to speak to the property owner, PropNex’s Lim explains.

While possible buyers can search the listings on the resale portal, simply those with a valid HDB flat eligibility (HFE) letter can get the vendor’s or the appointed salesmans’ information to set up a viewing within the site.

The brand-new system will certainly trigger home sellers if their listing price exceeds the greatest transacted rate of neighboring units of the very same flat kind by more than 10% in the past six months. “The thorough tracking and flagging of unlikely pricing can ensure that asking prices straighten a lot more carefully to cost patterns or assessments in the vicinity, thus minimizing unforeseen cost increase in specified places,” says Christine Sun, primary specialist and planner at OrangeTee Group.

Homeowners should have a valid motive to offer before they can list or assign a sales representative to list on their account. The website also supplies the layout of the unit, which can be useful for old flats where the proprietors may have lost them, claims Lee Sze Teck, senior supervisor of data analytics at Huttons Asia.

Tembusu Grand condo

The resale listing site need to profit the industry and the public over time, states Huttons’ Lee.

By enabling each seller to upload only one flat home listing, the brand-new listing platform offers to prevent rate adjustment and take care of rate hikes, according to OrangeTee’s Sun. On the other hand, some other online platforms might present numerous listings of the exact same unit with varying costs or marketed by different representatives. “It could develop a false perception that the area is in high demand, with numerous units up for sale in the exact same area, and cause inflated costs if purchasers think they have chosen the lowest-priced unit among numerous listings,” she states.

“Without repeat postings, the listing of flats in the market for sale are going to be streamlined, enhancing transparency, and potentially, enhancing the home seeking experience for possible purchasers when they are browsing the listings,” says Lim Yong Hock, major executive officer (KEO) of PropNex Realty.

Nonetheless, those unsure concerning handling property sales might still prefer having a sales representative or broker to encourage them on the sale procedure, help them with the application, and make certain that their apartments are valued correctly.

Alternatively, the owners can assign their real property representative to handle the listing and handle the sale on their part. Only one listing is enabled per resale flat on HDB’s portal.

Customers with a legitimate HFE will additionally have the ability to see the real estate grants and the loan quantity for which they are qualified. With this, they can screen listings that fit their conditions. They can schedule a scanning with the owner/salesperson in the website, states Huttons’ Lee. Buyers can browse across both built-to-order (BTO) and resale flats.

HDB announced today the soft launch of a new secondhand condo listing assistance effective tomorrow, May 13. The resale flat site will be officially launched subsequently this month. It will allow flat owners that have registered their intent to offer with HDB to classify their resale flats available for sale independently on the HDB level website.

She includes that some sellers may like to preserve anonymity or do not want the inconvenience of dealing with the deals themselves. Customers comfortable with technology and on-line purchases and have relevant market or sales knowledge might identify the brand-new online system valuable.

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