If anyone at this point still suspects whether licensed Salesperson in Singapore deserves their fees, they should take a full look at CEA newly released professional service manual released on the 26th of April 2013.
The manual covers many duties and responsibilities of a Salesperson in general and have very comprehensive case scenarios on how a Salesperson could be disciplined. Some snippets on the official introduction of PSM:-
The Practice Guidelines on the PSM aims to promote professionalism and ethical service in the real estate agency industry. It sets out the dos and don’ts to guide real estate salespersons in their work, and the professional practices expected of them. When the PSM is adopted by the industry, consumers will benefit as salespersons are expected to serve their clients in the latter’s interest.
A Work Group, led by CEA, was formed in November 2011 to develop the PSM. The Work Group comprised representatives from the industry associations – The Institute of Estate Agents, Singapore (IEA), the Singapore Accredited Estate Agencies (SAEA) and the Singapore Institute of Surveyors and Valuers (SISV), estate agencies, the Consumers Association of Singapore (CASE) and relevant government agencies such as the Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB). The Work roup completed an initial draft of the PSM in September 2012. Further consultations with a wider group of industry stakeholders were carried out subsequently to finalise the PSM.
The practice guidelines in the manual will officially take effect on 1st of January 2014 and is going to be read with reference to the Estate Agents Act.
This is a great piece of work done by CEA as they show that they understood more of our line of business as compared to when they form up 2 years ago. I strongly recommend the public to go through this manual to understand the heavy responsibilities coming from a professional licensed Realtor in Singapore.