HDB launches resale flat listing portal for owners
The brand-new system will trigger sellers if their listing cost exceeds the highest negotiated price of close-by units of the same flat type by more than 10% in the past six months. “The cautious tracking and flagging of unreal pricing can guarantee that asking costs align much more closely to price patterns or valuations in the vicinity, hence minimizing unforeseen rate surge in specified places,” says Christine Sun, primary researcher and planner at OrangeTee Group.
Nevertheless, those not sure about taking care of real estate sales might still choose having a sales representative or broker to suggest them on the sale process, help them with the application, and ensure that their residential properties are priced appropriately.
While prospective purchasers can surf the listings on the resale portal, solely those with a legitimate HDB flat eligibility (HFE) letter can obtain the seller’s or the appointed sales representatives’ information to schedule a visiting within the portal.
She includes that some sellers might prefer to preserve anonymity or do not desire the hassle of handling the deals themselves. Purchasers comfy with technology and online deals and have appropriate market or sales understanding might discover the brand-new online system beneficial.
The portal will promptly be edited, considering the ethnic integration policy (EIP) and Singapore Permanent Resident (SPR) allocation for the advertisements. It will save the property owner and the salesperson time visiting each month, claims Huttons’ Lee.
Permitting only purchasers with HFE to contact the proprietor or representative agent offers a tighter and a lot more structured setting, making up generally authentic purchasers and sellers. However, the downside is that sellers might not be tapping the whole demand pool for their flat as some interested purchasers may not have a legitimate HFE letter yet and will not be able to speak to the owner, PropNex’s Lim points out.
The Hill @ One North Kingsford Development Pte Ltd
Alternatively, the owners can assign their property broker to take care of the listing and take care of the sale on their behalf. Just one listing is permitted per resale flat on HDB’s site.
By enabling each seller to post only one flat home listing, the new listing platform serves to avoid cost adjustment and take care of rate increases, according to OrangeTee’s Sun. In contrast, other online systems might present several listings of the exact same unit with differing rates or marketed by various representatives. “It can produce an incorrect perception that the location is in high need, with many units up for sale in the very same area, and cause higher prices if customers think they have actually picked the lowest-priced unit among numerous listings,” she says.
Purchasers with a valid HFE can also be able to see the real estate grants and the financing quantity for which they are a candidate. With this, they can screen listings that fit their guidelines. They can schedule a scanning with the owner/salesperson in the portal, claims Huttons’ Lee. Clients can look throughout both built-to-order (BTO) and resale flats.
The resale listing portal must profit the industry and the general public in the future, claims Huttons’ Lee.
Sellers need to have a valid intention to offer before they can classify or assign a sales representative to list on their behalf. The site additionally gives the layout of the unit, which can be valuable for old flats where the proprietors might have lost them, says Lee Sze Teck, top supervisor of information analytics at Huttons Asia.
“Without repeat postings, the list of apartments in the market up for sale are going to be streamlined, increasing openness, and potentially, improving the home seeking experience for possible purchasers when they are browsing the listings,” states Lim Yong Hock, key executive officer (KEO) of PropNex Real Estate.
HDB announced today the soft launch of a new secondhand flat listing assistance effective tomorrow, May 13. The resale flat portal will be officially launched later this month. It will allow condo owners who have registered their intent to offer with HDB to list their resale flats up for sale independently on the HDB flat website.
