It’s confirmed. The Government will be stepping in to regulate the pool of real estate agents in Singapore.
The Straits Times announced and understands that an independent body will be formed and chaired by a neutral party appointed by the Government. It will also house a dispute resolution centre for agents and consumer mediation.
The intiative was hasten with the old ERA agent case of flipping an apartment in Riverside Piazza.
It’s about time as mentioned before that this would happen. Like Nicholas Mak mentioned, the only wish I had was that the independent body will not have any agency heads involve in the process as this will have conflicting of interest within the party.
Public consultation on the proposed reforms is due to begin this month with the findings due by December.
What Should Property Agents Do Now?
To fellow colleagues who’s rushing to take your CES or CEHA at this point, I don’t see the point of speeding up. It would be an added bonus to have the qualifications.
If you see these papers as added or refreshment to your real estate knowledge, the papers would be much easier to clear.