By Sean Yee
Are you a property owner? Well, did you know that you now have the option to list and market your flat independently on the HDB Flat Portal?
Previously, owners intending to sell their mature HDB flats rely on online property listings, which are exclusive for real estate agents. Often, they come with fees and heavy SEO (Search Engine Optimisation) investments as a result of a saturated marketplace. Now, both owners and their appointed property agents can collaborate proactively on a shared automated listing platform so that discourse can then be focused on crucial facets such as budgeting and marketing.
Here are some things that you must know about this new portal!
- Only Genuine Listings
In order for a property owner to list their estate, they will need to possess a legitimate Intent to Sell. Buyers on the other hand, require a valid HDB Flat Eligibility (HFE) letter. With this pre-requisite documentation, listings can be verified to be authentic and to operate in good faith.
Alternatively, owners can also appoint a property agent to manage their listing on their behalf.
- Personalised Dashboard for Property Agents
For agents representing multiple owners, this portal comes with an intuitive dashboard that provides a succinct overview of their client’s activities. By streamlining this process via automation, agents can focus on value-added services centred around strategic operations, such as financial prudence, financing ability and market conditions.
- Pricing Optimisation
To cultivate a healthy marketplace, the platform is embedded with a statistical prompt that informs sellers of the highest transacted price of its neighbouring units in the past 6 months. This prompt will be especially evident when a seller prices a property by at least 10% more than its market price.
- Finances Made Easy
Not only can buyers access crucial data, such as flat attributes, Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quotas, but they can also utilise an in-built financier that provides a concise summary of the buyer’s buying potential via personalised payment plans that considers approved housing grants and HDB loans. For sellers and buyers who need further assistance, the portal has a budget calculator that will automatically work out your budget and finances.
Additionally, the portal houses numerous quality-of-life improvements such as the ability for sellers to create viewing slots for buyers to book and extensive filters that include remaining lease duration and buying power.
- Minimalistic Interface
Uploading a listing has never been more seamless, as details such as the unit’s address, flat type and miscellaneous details will automatically be registered. All sellers have to provide are:
- Pictures of their flat
- Listing Price
- Description of the flat
- If need be, a Temporary Extension of Stay or Enhanced Contra Facility requirement.