The verdict is finalized with actions taken by Singapore Government. Ministry of National Development will take the reigns over from Inland Revenue of Singapore to create a Council for Estate Agencies (CEA) as the licensing authority for real estate agents.
MND will introduce a Bill in Parliament in the second half of this year to set up the new Council and to establish the new regulatory framework.
I’ll just highlight the most important point which most fellow agents are keen to know,
Arrangements will be made to help existing estate agencies and agents transit to the new licensing and registration framework. For instance, they will be exempted from the new educational qualification criterion.
Those who have passed an industry examination will not be required to take a new examination.
Those who have not passed any existing industry examination will be given one year to pass the examination, and be given a provisional registration in the interim.
Existing agents who are undischarged bankrupts or have past criminal records will be considered for registration on a case-by-case basis.
So you’ll definitely need to sit in for either CES or CEHA before practicing. To read the article in details, check out AsiaOne.
