A second person was charged on Thursday with representing himself as a property agent without being registered with the Council for Estate Agencies (CEA).
30-year-old Raymond Sim Soon Leong was also charged with failing to obtain a written authorisation from a licensed real estate firm before practising.
Despite being unregistered and unauthorised, CEA said in a media release that Sim had advertised two HDB flats for rental on an online property portal describing himself as a sales director with a licensed estate agent.
CEA said he also represented clients in making offers, negotiated property transactions and conducted flat viewings.
Sim was exposed when his prospective clients checked the CEA's Public Register of Estate Agents and Salespersons, and reported him to the council.
For each of his offences, Sim could be fined up to S$25,000 or jailed for a year, or both.
Since January 1 this year, all property agents must register with the CEA and possess written agreements with their companies before they are allowed to perform their job. Failure to comply with these rules is an offence.
Source : Channel NewsAsia – 20 Oct 2011
Showing posts with label Council for Estate Agencies (CEA). Show all posts
Showing posts with label Council for Estate Agencies (CEA). Show all posts
Friday, October 21, 2011
Thursday, October 20, 2011
CEA clamps down on errant estate agencies & agents
The authorities are getting tougher on errant estate agencies and agents.
Industry watchdog, the Council for Estate Agencies (CEA) has formed an Inspection and Compliance Section – aimed at detecting infringements and unethical behaviours.
Executive director of CEA, Chionh Chye Khye said: “Staff will carry out inspection and compliance checks to ensure that estate agents have in place proper systems for management and supervision of salepersons, complaint handling, advertisement control and maintenance of proper records.”
Being a customer-oriented industry, Mr Chionh said estate agencies should treat all complaints as customer feedback and strive to improve their frontline services.
A nation-wide survey was announced at the seminar Tuesday morning.
The survey is to gauge public perception of the real estate agency industry.
It will cover four areas, including consumer satisfaction and expectations.
Source : Channel NewsAsia – 18 Oct 2011
Friday, October 29, 2010
CEA’s new rules to set standards for estate agency work
The Council for Estate Agencies (CEA) released new rules on Friday that will set standards and regulate the conduct of estate agency work.
From 15 November, salespersons cannot represent both buyers and sellers in a property transaction under the Estate Agents (Estate Agency Work) Regulations.
It will also prohibit estate agents and salespersons from handling cash in certain transactions or referring their clients to any moneylender.
Other provisions will kick in on 1 January.
They include prescribed estate agency agreements that estate agents will use with their clients for the sale, purchase or lease of residential property in Singapore.
Individuals who undertake estate agency work will also be required to take part in continuing professional development programmes for a minimum of 6 hours per year from 2011.
From March next year, the regulations will require salespersons to display their estate agent’s card, when doing estate agency work. This is to allow the industry sufficient time to comply with the estate agent’s card requirement.
Separately, the Estate Agents (Licensing and Registration) Regulations and the Estate Agents (Fees) Regulations will take effect on 1 November.
Application for estate agent’s license and salesperson’s registration will start from that date and those who successfully register with CEA will have their names published on its website from 1 January.
Those who do not meet the licensing or registration criteria will not be granted a license or registration. This includes those with criminal records, especially for fraud and dishonesty.
Also from January next year, it will be an offence for sales persons who are not registered with CEA to handle estate agency work.
They must also have written agreements with estate agents before they can practice.
Source : Channel NewsAsia – 29 Oct 2010
From 15 November, salespersons cannot represent both buyers and sellers in a property transaction under the Estate Agents (Estate Agency Work) Regulations.
It will also prohibit estate agents and salespersons from handling cash in certain transactions or referring their clients to any moneylender.
Other provisions will kick in on 1 January.
They include prescribed estate agency agreements that estate agents will use with their clients for the sale, purchase or lease of residential property in Singapore.
Individuals who undertake estate agency work will also be required to take part in continuing professional development programmes for a minimum of 6 hours per year from 2011.
From March next year, the regulations will require salespersons to display their estate agent’s card, when doing estate agency work. This is to allow the industry sufficient time to comply with the estate agent’s card requirement.
Separately, the Estate Agents (Licensing and Registration) Regulations and the Estate Agents (Fees) Regulations will take effect on 1 November.
Application for estate agent’s license and salesperson’s registration will start from that date and those who successfully register with CEA will have their names published on its website from 1 January.
Those who do not meet the licensing or registration criteria will not be granted a license or registration. This includes those with criminal records, especially for fraud and dishonesty.
Also from January next year, it will be an offence for sales persons who are not registered with CEA to handle estate agency work.
They must also have written agreements with estate agents before they can practice.
Source : Channel NewsAsia – 29 Oct 2010
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