Forum: Housing agents not to blame for unrealistic price expectations

Forum writer Elgenia Wong Tien Min raises valid concerns about housing affordability and financial prudence, but her criticism of property agents as key drivers of market distortion is misplaced (

Singapore’s public housing market needs a reality check,

May 7).

To blame agents for fuelling “irrational exuberance” overlooks the fact that they do not set prices – sellers and buyers do.

It is home owners who are increasingly setting ambitious asking prices, often influenced by anecdotal million-dollar resale stories and peer comparisons.

Many sellers enter the market with high expectations, sometimes unwilling to accept offers below what they believe their flat is worth, even when those beliefs aren’t backed by valuation or fundamentals.

Property agents serve as intermediaries. Their role includes providing advice, managing expectations, and facilitating transactions within the framework of existing regulations.

Most professional agents work to educate clients about realistic pricing and borrowing limits.

Ultimately, it is up to individuals to make sound financial decisions. No agent can coerce buyers into overextending themselves without their consent.

It’s also important to acknowledge that upgrading aspirations are a reflection of broader societal values.

The desire for better living environments and lifestyle improvements is natural in a progressing economy. Property agents do not create this desire – they respond to it.

Rather than scapegoating agents, we should encourage greater financial literacy, tighter lending controls, and better data transparency to empower individuals to make informed decisions.

Sustainable housing outcomes will come not from curbing the work of professionals, but from addressing the root causes of unrealistic expectations and speculative mindsets.

Jasmine Seet