HDB Resale Flat Listing (RFL) Service Guide: How to Use It?

The launch of the new HDB Resale Flat Listing (RFL) service is to facilitate and simplify the process of buying and selling of HDB resale flats.

It will be integrated with the existing HDB Flat portal that provides information on new BTO flats details and application for HDB Flat Eligibility (HFE) letters. It also offers a range of comprehensive tools such as loan-listing services and customisable financial calculators.

With this one-stop platform, flat sellers and buyers will enjoy a more secure, convenient, and seamless way to transact their HDB flats. Check out the video below for a step-by-step guide on using the HDB Resale Flat service.

How RFL Portal Benefits HDB Flat Sellers

Below is a snapshot of how the RFL service will benefit sellers and buyers of HDB resale flats.

• Increased Visibility: Listing on the RFL portal will increase the exposure to a wider pool of genuine and eligible HDB resale flat buyers.
• Streamlined Process: Manage listings, schedule viewings, and complete resale transactions on a single integrated platform.
• Independent Listing: List and market flats independently or appoint a property agent through the portal.
• Price Guidance: Alerts for overpriced listings help to set realistic prices based on recent transactions in the area.
• Verified Buyers: Only buyers with valid HFE letters can access seller contact details and book viewings, ensuring genuine interest.

How RFL Portal Benefits HDB Flat Buyers

• Comprehensive Platform: Can access listings of new BTO and resale flats on a single integrated platform, allowing for easy comparison while facilitating decision-making.
• Price Transparency: RFL service alerts sellers if their listed price exceeds recent transacted prices in the area by 10% or more, promoting realistic pricing.
• HDB Flat Information: Convenient access to key information like floor plans and the surrounding amenities.
• Financial Planning Tools: Access loan listings, customisable financial calculators, and information on CPF usage eligibility to estimate affordability.
• Verified Listings: Only genuine sellers with a valid Intent to Sell can list their flats, ensuring no duplicate listings, and saving time in flat hunting.
• Eligibility Verification: Buyers with a valid HDB Flat Eligibility (HFE) letter can access sellers’ contact details and directly book viewing appointments.

As can be seen, the RFL service helps to create a transparent and trusted marketplace for HDB resale flat transactions by integrating various tools and verifying the eligibility of participants.

This streamlined approach benefits buyers and sellers by increasing convenience and transparency while providing access to comprehensive HDB flat information on a single platform. For example, the RFL service will automatically populate details like flat type, floor area, and address using HDB's data once sellers create their listings.

RFL Guide: A Streamlined Approach for Buyers, Sellers, and Agents

The HDB Resale Flat Listing (RFL) service provides an enhanced and simplified platform for transacting HDB resale flats. The following guide will provide a roadmap for buyers, sellers, and property agents to navigate this new platform.

For HDB Flat Sellers

Register Intent to Sell: Sellers must first register an Intent to Sell on the RFL portal to get a valid listing eligibility.

Create Listing:

• Log in to the RFL portal and go to the Seller Overview section.
• Click "Create Listing", and the flat's address will be automatically populated from HDB records.
• Indicate if you are managing the listing yourself or appoint a property agent.
• Upload photos of the flat and its floor plan (provided by HDB).
• Enter the listing price and flat details like renovation status or whether there is a balcony.

Manage Listing:

• Edit listing details like price, description, photos etc.
• Set up viewing appointment slots for buyers.
• Respond to buyers' viewing requests by accepting/rejecting them. If you accept, the requester will receive your full flat address via email. If you reject, the requester will also be notified via email.
• Cancel booked viewing appointments by clicking on the respective dates.
• Set notification preferences for viewing reminders. You can indicate the number of days in advance you would like to receive email reminders for your viewing appointments.

Appoint Property Agent:

• Click "Appoint a Salesperson" and enter the agent's CEA registration number.
• The appointed property agent will be notified to create the listing on your behalf. He/she has 3 days to accept the appointment and proceed to list the flat on your behalf.
• All email notifications will be sent to your appointed salesperson(s), but you will also receive a copy.
• You can also add more salespersons or Co-managing Salesperson(s). You can only appoint a Co-managing Salesperson after your Managing Salesperson accepts your appointment and creates a listing on your behalf.
• When you remove a Managing Salesperson, all Co-managing Salespersons will also be removed.
• If the Managing Salesperson has already created a listing for you, you will take over it and manage its contents.
• When you remove a Co-managing Salesperson, his/her listing description will also be removed.

For a complete step-by-step RFL guide, here are the procedures for HDB flat sellers.

For HDB Flat Buyers

Obtain HDB Flat Eligibility (HFE) Letter: Buyers need a valid HFE letter to access seller contact details and book viewings.

Browse Listings:

• Flat buyers can access the RFL portal to view integrated listings of new BTO and resale flats.
• They can filter searches by location, flat type, remaining lease, prevailing Ethnic Integration Policy (EIP) and Singapore Permanent Resident (SPR) quotas. For greater convenience, they may customise a search profile based on their preferences and be alerted via email when new and resale flat listings match their preferences.
• Buyers can also get detailed information on flat attributes, floor plans and photos of the flat, recent transacted prices of nearby flats of the same flat type, nearby amenities, etc.

Request Viewing:

• Only buyers with a valid HFE letter can request a viewing appointment with sellers for the flats being shortlisted.
• Receive the full seller’s contact details only upon accepted request.

Use Financial Tools:

• Flat buyers can access potential financial undertakings such as monthly loan repayment and cash payment(s).
• Flat buyers with a valid HFE letter can view personalised payment plans based on their approved housing grants and HDB loan amount if eligible. This will help them to assess more accurately if the shortlisted flats are within their budget.
• After the flat buyers have exercised their Option To Purchase, they can submit their resale application through the RFL portal.

For Property Agents

Manage Seller's Listing:

• Get appointed by the sellers by providing CEA registration number.
• Create/edit the listing on behalf of the sellers using a personalised dashboard on the RFL portal, providing them with a convenient way to manage their client(s).
• Manage viewing appointments and help the seller to manage sales.
• Only genuine buyers with a valid HFE letter can obtain the appointed property agent's contact details to schedule a viewing appointment.

Value-Added Service:

• Assess buyers’ profiles and gauge their interests in the flat listing.
• Follow up with interested and eligible buyers directly.
• Help sellers with budgeting and “after-sales” services such as sourcing a new home, upgrading to private properties, and advising on property investment.

The Pros and Cons of RFL Service

The HDB Resale Flat Listing (RFL) service streamlines the buying and selling of HDB flats in Singapore. Although it offers a user-friendly platform for buyers and sellers, it has some drawbacks.

Below are some of the pros and cons of using the RFL service:

Pros & Cons for Sellers

Pros:

• More secure transactions as access to RFL portal requires a Singpass login for all users’ interaction.
• Free listing.
• Can sell flat independently, potentially saving on agent fees.
• Increased listing visibility and exposure to buyers.
• Convenience in managing listings and viewings online - easy to set viewing appointment date/time.
• Flat listings will automatically be populated with flat details such as the address, flat type, floor area, and nearby amenities.
• Only genuine buyers with HFE letters can obtain the sellers’ contact details and arrange for viewings.
• Streamlined transaction process through an integrated platform.
• Automatic built-in prompt to notify the seller if a listing price is too high or too low compared to nearby units of the same flat type sold in the past six months, helping set more realistic sale prices.
• View information and charts showing the monthly transaction volume and average transacted prices of the same flat type nearby in the past six months.
• Directly communicate with interested buyers and negotiate offers.

Cons:

• Limit to one listing in the RFL portal despite multiple property agents being engaged to market the flat, reducing exposure.
• Risk of HDB removing listings due to "unrealistic" pricing and "misleading" information without providing clear reasons for doing so.
• Resale HDB flats with highly sought after attributes (eg, high floors and sea-facing) may risk having thier listings removed by HDB if priced "too high".
• Independent resale flat sellers may still require the service of property agents if their listings are removed.
• The absence of an exposure boosting exposure feature which can be found in competing portals such as PropertyGuru, albeit at a price.
• It is restricted to only buyers with valid HFE letters, potentially limiting the pool of genuine buyers who have yet to apply for HFE letters.
• Genuine buyers without HFE letters will not be able to receive the contact of sellers and arrange for viewings.
• Need to set aside personal time to screen and negotiate prices with buyers.
• A lack of negotiating skills and expertise to extract the best prices for their HDB flats.
• Be tech-savvy to navigate the online portal effectively.
• Potential privacy concerns from sharing personal and flat details.

Pros & Cons for Buyers

Pros:

• More secure transactions as access to the RFL portal requires a Singpass login for all users’ interaction.
• A comprehensive overview of BTO and resale flat options helps to aid decision-making.
• Information and charts showing the monthly transaction volume and average transaction price of the same flat type nearby in the past six months offer more transparency.
• Access to flat details such as the address, flat type, and floor area.
• Financial planning tools for calculating affordability.
• Potential savings from property agent fees.
• Each seller can only post one flat listing, ensuring no duplicative listing for the same flat and enhancing search efficiency..
• All flat listings are genuine as sellers will require a valid Intent to Sell with HDB, ensuring no fake listings by dishonest property agents.
• HDB reserves the right to remove listings with unrealistic pricing or inaccurate information, enabling buyers with better decision-making.

Cons:

• Need to obtain HFE letter to access full listing features.
• Viewing requests can only be made via the RFL portal.
• Cannot access sellers’ contact and arrange for viewing without HFE letter.
• Requires familiarisation of RFL functions and potential information overload from integrated listings.
• Spend personal time to filter and search for listings, unless they appoint a property agent to assist them.
• May lack personal skills and expertise to negotiate best prices from sellers.

Impact on Property Agents

The introduction of the Resale Flat Listing (RFL) service by HDB will likely shake up to some extent how HDB flats are bought and sold. While the platform streamlines transactions and promotes transparency, property agents may face a decline in sales opportunities and commission earned.

Hence, they will have to elevate their role to provide a more comprehensive suite of services to convince buyers and sellers to appoint them as their representatives. Menawhile, the services of property agents may still be required if resale flat sellers' listings are removed by the HDB due to"unrealistic pricing" or "misleading information".

Below are some possible impacts on property agents:

• Potential curtailment of sales opportunities as sellers can list their HDB flats independently.
• Interested buyers with HFE letters can go directly to HDB flat sellers, bypassing their services.
• Requires to adapt to the new RFL platform and processes and work harder to convince sellers to appoint them as exclusive agents.
• A need to enhance their service offerings by incorporating value-added services such as comprehensive pricing strategies, negotiation support, and legal expertise.

Nevertheless, property agents will still have a significant role to play. Property agents have the experience and digital tools to provide deeper insights into market trends, vet buyers, work out financial plans, provide effective marketing ideas, and help less digital-savvy clients with the whole selling/buying process.

There may also be some complex cases where HDB flat sellers and buyers may require the expertise and knowledge of property agents. For example, transactions that involve contra facilities where sellers use their sale proceeds to purchase another HDB resale flat, an extension of stay, a divorce, or execution of a will.

In addition, some individuals may prefer to maintain anonymity and keep their contact information private, preferring to have agents act as intermediaries.

If you require more information about the Resale Flat Listing (RFL) service, please Whatsapp me. However, if you are considering investing in an executive condo or a private property, below are some useful resources:

• New HDB Classifications.
• Executive condo eligibility.
• How to apply for a new executive condo.
• Executive condo FAQs.
• Guide on purchasing a new launch private property.
• Guide on purchasing a resale private property.