HDB launches resale flat listing portal for owners
The website will automatically be updated, factoring in the ethnic integration policy (EIP) and Singapore Permanent Resident (SPR) quota for the lists. It will definitely save the property owner and the salesperson time checking monthly, says Huttons’ Lee.
Purchasers with a valid HFE may additionally be able to see the housing grants and the financing amount for which they are eligible. With this, they can screen listings that fit their conditions. They can schedule a scanning with the owner/salesperson in the site, states Huttons’ Lee. Clients can look throughout both built-to-order (BTO) and resale flats.
By enabling each vendor to upload just one flat home listing, the brand-new listing platform serves to stop rate control and take care of cost hikes, according to OrangeTee’s Sun. In contrast, some other online systems may show numerous listings of the same unit with differing rates or marketed by various representatives. “It might produce an incorrect perception that the location is in high need, with many units up for sale in the exact same location, and cause inflated rates if purchasers think they have picked the lowest-priced unit among numerous listings,” she says.
Permitting just purchasers with HFE to contact the owner or representative agent supplies a tighter and much more controlled setting, making up primarily genuine customers and vendors. Nonetheless, the disadvantage is that vendors may not be touching the whole demand pool for their flat as some interested customers might not have a legitimate HFE letter yet and will not have the ability to speak to the property owner, PropNex’s Lim points out.
Alternatively, the proprietors can appoint their real estate agent to take care of the advertisement and take care of the sale on their behalf. Only one listing is allowed per resale flat on HDB’s portal.
She adds that some vendors may favor to keep privacy or do not desire the trouble of managing the bargains themselves. Buyers comfy with technology and online transactions and have applicable market or sales knowledge may find the new online system useful.
“Without any duplicate listings, the listing of apartments offered available are going to be streamlined, improving transparency, and potentially, improving the home hunting experience for possible buyers when they are scanning the lists,” says Lim Yong Hock, major executive officer (KEO) of PropNex Real Estate.
However, those not sure regarding taking care of property sales may still choose having a sales agent or broker to advise them on the sale procedure, help them with the application, and make sure that their homes are priced appropriately.
Homeowners need to have a valid intention to sell before they can classify or appoint a salesperson to list on their behalf. The portal additionally provides the floor plan of the unit, which can be valuable for old apartments where the proprietors might have misplaced them, says Lee Sze Teck, top director of information analytics at Huttons Asia.
HDB released today the soft launch of a brand-new secondhand condo listing assistance effective tomorrow, May 13. The resale apartment portal will be officially launched subsequently this month. It is going to allow condo owners who have registered their intent to offer with HDB to list their resale apartments available for sale individually on the HDB level website.
While potential customers can search the listings on the resale portal, solely those with a valid HDB flat eligibility (HFE) letter can obtain the seller’s or the appointed sales representatives’ information to arrange an observation within the site.
The new system will certainly motivate sellers if their listing cost goes beyond the highest possible transacted cost of neighboring units of the very same level type by more than 10% in the past 6 months. “The careful checking and flagging of unlikely prices can guarantee that asking costs straighten more closely to price patterns or assessments around, hence lowering unforeseen cost surge in specified areas,” says Christine Sun, chief researcher and planner at OrangeTee Group.
The resale listing site need to profit the industry and the general public in the future, says Huttons’ Lee.
