Top cop to police real estate agencies
CPIB director to be seconded to help head new regulatory body A TOP cop will help helm the new Council for Estate Agencies (CEA) – a regulatory body which is tasked to regulate the property agents. Mr Soh Kee Hean, director of the Corrupt Practices Investigation Bureau (CPIB) since 2005, will be seconded to the … Read more
Bill seeks to set up stat board to regulate real estate industry
Real estate agencies will be required to appoint a key executive officer (KEO) who will be responsible for the proper administration and overall management of the business and supervision of all their estate agents. The requirement is spelled out in the Estate Agents Bill which was introduced for a first reading in Parliament on Monday. … Read more
Exodus? Expect more and better qualified property agents
IN THURSDAY’S report (‘Exodus of property agents expected’), experts envisage that thousands more property agents are set to bail out of the industry over the next 17 months due to tough new rules being introduced by the Government. They have estimated a drop of up to 30 per cent in the number of agents by … Read more
Real estate agencies step up efforts to woo Chinese investors
Some Singapore real estate agencies are wooing Chinese investors to buy properties here. They are doing so by having a representative office in China and networking with private bankers to reach prospective buyers. These initiatives have benefited HSR International Realtors and ECG Property. It is not just about the property for most Chinese investors, it … Read more
S’pore real estate firms axe thousands of agents ahead of new MND regulations
Real estate firms in Singapore have axed thousands of agents, ahead of the regulatory framework to be implemented by the National Development Ministry. The framework seeks to professionalise the industry, with the introduction of a new statutory board, known as the Council for Estate Agencies, and enhanced regulatory guidelines. Channel NewsAsia understands that a Bill … Read more
ERA agents reminded to be careful in choice of words in written communication
Real estate firm ERA has reminded its property agents to be careful in their choice of words when it comes to written communication. In an email to its more than 3,000 agents on Tuesday, ERA’s associate director of Asia Pacific, Eugene Lim, said agents have a responsibility to communicate the latest property market information to … Read more
Realtors body does not condone ‘scare tactics’
Property agents have been urged to be responsible in the light of “scare tactics” on clients’ concerns. Emails forwarded to MediaCorp detailed how some agents are highlighting the Government’s recent land sales to lower client expectations of property prices. These emails detail correspondence between agents of real estate firm ERA. In one email, a senior … Read more
Property agents urged to be responsible in light of “scare tactics”
With the property sector showing signs of a slowdown, concerns have been raised over how some real estate agents are employing scare tactics to close deals. Emails forwarded to MediaCorp detailed how some agents are highlighting the government’s recent land sales as a bargaining tool to lower their clients’ expectations on property prices. One agent … Read more
Real estate industry bodies collaborate to plug gaps in industry
The Singapore Accredited Estate Agencies has identified some gaps in the real estate sector and it hopes to plug them before new rules to regulate property agents kick in later this year. It’s partnering the Singapore Institute of Surveyors and Valuers to help property agencies improve productivity through the use of technology. Part of that … Read more
End of the line for 5000 agents?
A major shake-up is expected among real estate agents as their numbers are expected to fall by as much as 25 per cent when the new rules to regulate property agents kick in later this year. Agents who do not measure up will likely leave the industry and market watchers said smaller real estate agencies … Read more
