New Statutory Group for Singapore Estate Agents

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.

Singapore Property Agents to be Regulated

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.

SISV CEHA Courses Opens in April 2009

SISV Services Pte Ltd is running CEHA classes commencing from mid April in preparation for July 2009 Examinations.

Course Fee: $335.00 for 3 papers (exclusive of examination fee @ $321 for 3 papers)

Date/ Days/ Time: 15 April to 12 June 2009 (Every Wednesday & Friday) 10.00am to 1.00pm

Duration: 17 sessions (14 Lectures & 3 Revision Classes)

Venue: Toa Payoh Central Community Club, 93 Toa Payoh Central, #03-03 The Theatrette

You can contact Jennifer (SISV) @ 6848 7691 or email courses@sisvrealink.com

For those who is going for their CEHA, I’d suggest signing up for their course and attend ALL their lessons (without skipping and listen). You’ll pass if you put your heart to it. Good luck!

CEHA January 2009 Papers for Download

I have to give credits to CEHA.sg, a forum for Realtors to discuss about CEHA, share listings and musings.

This are the scanned copies of CEHA papers for January 2009 (Right click and Save-as). Sam Gian will probably have his model answers somewhere.

Keep these scanned pdfs coming in or share with us in CEHA.sg. Realtors who decides to self-study for CEHA will have to understand its always possible that you can do so, but do not look down on the questions that will be asked. Download a copy of the above January 2009 papers or the 2008 ones that I’ve taken and you will understand.

I have contacted SISV to give me an update when they’re opening their course for the next July 2009 CEHA exams.

Will Licencing All Singapore Real Estate Agents Ease Your Mind?

I was reading the article on Sunday Times today with regards to ‘Licence All Agents, Says Experts‘. It really sets me pondering on whether an accredition of all local property realtors in Singapore is going to help the situation of having unethical fellow mates weeded out;

After all, this would be an industry which has no boundaries in terms of its potential income yield, depending on how hardworking and street smart the realtor is.

Government Stepping In To Regulate Real Estate Industry a Boon or a Foe?

With the government stepping in to regulate this industry, that means there won’t be a freeplay or freedom which Realtors are enjoying now. I can’t think of any current job industries apart from the medical/ lawyer industries which require would-be doctors and lawyers to acquire a certain amount of academics before being able to practice their profession. If regulated, I would foresee older Realtors without proper education qualifications to be strike off from practicing their trades which would be really uncompassionate.

At the present moment, Singapore Realtors are not required to have any kind of academics; Basic 3 O’levels passes would suffice in almost all the Realty agencies. As long as you have a good basic command of English and understand the contract terms, you could be an agent.

The pro side of having a regulated industry would be systematic approaches in future real estate deals; again it doesn’t and probably won’t weed out totally of unethical agents.

I understand that both SAEA and IEA have their own set of rules for their accredited agents with a few strike rules and they’re out.

The Clash of IEA and SAEA

There has been always the clash of two titans of Singapore’s Real Estate groups on wanting to be the leader of regulating the industry, namely SAEA and the IEA, with both coming out their own accredition standards like CES (Common Examination for Salesperson) for SAEA and CEHA (Common Examination for Housing Agents) for IEA.

If the government would to step in and regulate the industry, who would it appoint to be the sole organisation to come out with the accredition? I for sure wouldn’t be bothered unless the Government or my agency supports me to get one of the accredition to show to my clients that I am accredited.

Bottom Line

I have passed my CEHA. So what does it do for me? As a Realtor, the reason why I did the tests was for more knowledge and to cover and learn as much as I can, and not for additional tagline advertising.

Whatever that would and must be delivered as a Realtor must be delivered from the heart. Being responsible for your actions, fair and just practices are all necessary in any industries, not just Real Estate. I would think the current law system in Singapore would suffice to protect unjust actions from buyers/ sellers or bad agents and we wouldn’t need the Government to step in to gung-ho the Singapore realtor’s realm.

I don’t think regulating the whole industry would be in any much help weed out all unfair or unscrupulous practices of the industry, but if the day comes, we’ll just have to get ready.

January 2008 CEHA Papers for Download

I’ve taken the liberty to scan all the January 2008 CEHA papers for fellow Realtors to download for reference.

Try not to take reference from what I’ve scribbled as they probably won’t be accurate.

I’ve lent all my notes and books to Joanne from Global. Perhaps anyone who needs them can contact me for to link up.

Cheers and good luck for the April paper. I’ll blog about what to prepare for materials and the settings so on and so forth on the next few entries.

A Helping Hand to 2008 July CEHA Intake

I’ve received a surprise call on my mobile from Emily, a fellow Realtor from DTZ asking for notes I have as she’s taking this upcoming intake CEHA course and has self enrolled for the papers instead of taking any courses from available CEHA courses on the market.

I suppose you can do so if you’re an experience agent who keeps yourself updated almost all time and are familiar with government policies, HDB especially; and calculations herein and out.

Over this weekend, I’m going to scan all 3 papers to share with every agents here; and whatever I could. If you’re interested in the notes, you can actually email me at benson@chocomedia.com to request the stuffs that I have prepared for Emily.

Now good luck to your CEHA accredition and break me the good news if you’ve gotten yourself cert-in!

ps. Even though most experienced agents will find sitting for the papers bothersome, try going for it. You’ll be amused by some tiny little details you don’t really know. Really.

SISV CEHA Course – April 2008 Intake

And I do believe in returning the favor whenever you receive something.

SISV is having it’s next course running for Common Examinations for Housing Agents (CEHA) in April for the July 2008 Examinations (7th, 8th and 9th July). If you’re a full time Realtor (Property Agent), you’ll have to rush and get your papers before the 2009 axe.

The objective of this SAEA Pre-CEHA course is to train estate agents to undertake agency work in Singapore. In particular, it is designed to prepare practising agents to take the CEHA examination. A pass in the CEHA is now a pre-requisite for those wishing to apply for a House Agent’s Licence under the Appraisers & House Agents Act. Under the SAEA’s requirement, all agents under the accredited agency must possess a pass in CEHA and be accredited by 1 January 2009.

Unfortunately, my agency is accredited.

The Files

The venue for all lessons from SISV are conducted in Toa Payoh Community Centre on Tuesdays and Thursdays (from 2 to 5pm for this season). Cost is SG$365 nett for all 3 papers.

Honest Review

I like the lecturers, they’re knowledgeable on their subjects, professionals to the real estate market scene. I actually like Sam Gian’s 10-year series, though some of the information have to be reviewed because of changing policies. He’s a funny man.

If you’re worried that you can’t pass your papers, I suggest enrolling with SISV and attend all the classes, it should put you in good shape before attending your papers.

Jan 2008 CEHA Results Out

CEHA - Common Examination for House Agents

Dear Sir/ Madam

COMMON EXAMINATION FOR HOUSE AGENTS (CEHA)

We refer to the Common Examination for House Agents held in January 2008. The following are your results:

Paper 1: PASSED
Paper 2: PASSED
Paper 3: PASSED

Result: PASSED

Fellow agent friends, have you passed your CEHA yet? If not, go for SISV classes, they’re worth every single cent spent. Just as long as you attend classes regularly, SURE PASS! ;)

Alas, The First CEHA Batch for 2008 is Done!

It’s the last paper on Professional Practice and Management for CEHA this evening at ACJC, everything was more of a breeze than a worry when I flipped open the questions. This is not exactly that hard as I expected after so much of anticipation with the 2nd paper, Marketing, being the most difficult for me.

Level of Difficulty:

  1. Professional Practice and Management
  2. Law
  3. Marketing

which of 3 is being the most difficult. It’s unbelievable, I know. Let’s just wait for the results *crossing my fingers*