View Full Version : Some 33,000 real estate agents registered: CEA
so many agents, flooding the mkt....:doh:
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1152625/1/.html
Some 33,000 real estate agents registered: CEA
By Joanne Chan | Posted: 12 September 2011 1726 hrs
SINGAPORE: 33,054 real estate agents were registered with the Council for Estate Agencies (CEA) as at end of August and 1,535 agencies have been awarded licences.
The CEA gave an update on its operations to the media at a closed-door event on Monday, one year since its formation.
The council is tasked with industry development and enforces regulations such as compulsory licensing.
So far, the CEA has issued about 100 letters of advice to errant agents on complaints of misrepresentation or misconduct. One agent was also taken to court for practicing without a licence.
Going forward, the council said it will work with key stakeholders to promote professional estate agency practices.
It is also launching collaterals for better consumer prudence and education.
-CNA/ac
Good what. More competition among them means better service for us.
Good what. More competition among them means better service for us.
More nuisance calls....
Regulators
12-09-11, 21:42
Agents help you make money where got nuisance
More nuisance calls....
Agents help you make money where got nuisance
Yep. Use them to get best prices when selling and lowest prices when buying.
http://www.channelnewsasia.com/stories/singaporelocalnews/view/1152625/1/.html
Some 2,700 real estate agents may lose licence by year-end
By Joanne Chan | Posted: 12 September 2011 1726 hrs
SINGAPORE: Some 2,700 real estate agents stand to lose their provisional licence if they do not pass a mandatory exam by the end of this year.
They were granted a one-year licence when the new regulatory framework kicked in at the start of this year, which requires all agents to pass an industry exam. However, some agents are facing language problems.
Mohd Ismail, CEO of PropNex, said: "They struggle to understand the exam questions. One or two people have broken down because they are very stressed, thinking what will happen to their rice bowl.
For some of these people, we are trying our level best to give them a mentor, who is their respective team manager and leader... to give one-to-one coaching."
About six per cent of agents at PropNex have a provisional licence.
Mr Ismail said half of them have not closed a single transaction this year and have chosen to leave the industry.
But there are some who earn on average S$10,000 to S$12,000 a month in commission. He said these people want to continue being agents, but have failed the Real Estate Salesperson exam multiple times as they are not proficient in English.
Responding to queries, the Council for Estate Agencies said it is working with the Institute of Estate Agents to conduct classes on the exam syllabus in Mandarin.
But still, agents will have to grapple with an exam paper in English. That is because all paperwork and documents for property transactions are written in English.
33,054 real estate agents were registered with the CEA as at end of August and 1,535 agencies have been awarded licences.
The CEA gave an update on its operations to the media at a closed-door event on Monday, one year since its formation.
The council is tasked with industry development and enforces regulations such as compulsory licensing.
The CEA has also issued about 100 letters of advice to errant agents on complaints of misrepresentation or misconduct. One agent was also taken to court for practicing without a licence.
Going forward, the council said it will work with key stakeholders to promote professional estate agency practices.
It is also launching collaterals for better consumer prudence and education.
-CNA/ac
My agent from reputable company DTxxx so experienced & yet help me rent my office to a bunch of crooks ! And then she disappear after rent did not come in even for the 1sty month !! Complain to CEA & their company also no use ! Ask me to issue her lawyer letter ? haha.. wat a joke !
New agents not so experienced help me get my unit back...
Hmmm.. CEA not sure doing right thing or not.. might be another excuse to make more $ out of the trade. There are a lot of loopholes out there for sure .... :scared-1:
My agent from reputable company DTxxx so experienced & yet help me rent my office to a bunch of crooks ! And then she disappear after rent did not come in even for the 1sty month !! Complain to CEA & their company also no use ! Ask me to issue her lawyer letter ? haha.. wat a joke !
New agents not so experienced help me get my unit back...
Hmmm.. CEA not sure doing right thing or not.. might be another excuse to make more $ out of the trade. There are a lot of loopholes out there for sure .... :scared-1:
She rented out your office to crooks? but what is her errant action? Did she break any CEA rules? If not, how is CEA to act? If yes, then u have a valid complaint, then you should complain to the watchdog of CEA, ha ha. If more such complaints another watchdog comittee wll be formed.
My agent from reputable company DTxxx so experienced & yet help me rent my office to a bunch of crooks ! And then she disappear after rent did not come in even for the 1sty month !! Complain to CEA & their company also no use ! Ask me to issue her lawyer letter ? haha.. wat a joke !
New agents not so experienced help me get my unit back...
Hmmm.. CEA not sure doing right thing or not.. might be another excuse to make more $ out of the trade. There are a lot of loopholes out there for sure .... :scared-1:
I think the agents will not care who they rent out your unit to, as long as it is legal and in proper documentation. Their main purpose is to rent out your unit and then get their commission. The rest is up to your luck. I don't think they will take the trouble to help you to check your tenant background, so there's always a risk, I'm also worry to find an irresponsible agent.:scared-3:
It is unfortunate. It is almost impossible to screen them if they have proper documentation. Sometimes, getting a good tenant is not easy.
I think the agents will not care who they rent out your unit to, as long as it is legal and in proper documentation. Their main purpose is to rent out your unit and then get their commission. The rest is up to your luck. I don't think they will take the trouble to help you to check your tenant background, so there's always a risk, I'm also worry to find an irresponsible agent.:scared-3:
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