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Sep 18, 2010
Confused over stand on fixed commission rates
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ACCORDING to Minister for National Development Mah Bow Tan, the Council for Estate Agencies cannot fix commission rates as such a measure is anti-competitive; and it is better for such rates to be influenced by market forces ('Oct 22 start for real estate stat board'; Thursday).
If it is possible to fix commission rates for the insurance industry without such fixing being viewed as anti-competitive, why can't the same apply to property brokers?
By adopting fixed commission rates as a rule, a chunk of current issues, such as the complaints about unethical agents, will be resolved.
The insurance industry penalises an agent who is caught under-cutting commissions by revoking his licence.
The same deterrent can be applied with equal effectiveness to real estate agents.
Koh Wee Leng (Miss)
Confused over stand on fixed commission rates
<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
ACCORDING to Minister for National Development Mah Bow Tan, the Council for Estate Agencies cannot fix commission rates as such a measure is anti-competitive; and it is better for such rates to be influenced by market forces ('Oct 22 start for real estate stat board'; Thursday).
If it is possible to fix commission rates for the insurance industry without such fixing being viewed as anti-competitive, why can't the same apply to property brokers?
By adopting fixed commission rates as a rule, a chunk of current issues, such as the complaints about unethical agents, will be resolved.
The insurance industry penalises an agent who is caught under-cutting commissions by revoking his licence.
The same deterrent can be applied with equal effectiveness to real estate agents.
Koh Wee Leng (Miss)
