210 property agents disqualified

210 property agents have had their registration applications rejected and will no longer be allowed to practise from Saturday.

Industry regulator, the Council for Estate Agencies (CEA), said the individuals were found to either have criminal records or records of offences involving fraud and dishonesty.

The industry regulator – which was set in October – requires real estate firms to apply for a licence and register their agents.

To date, 1,190 firms have been granted licences and 27,754 agents have been approved.

A public register of licensed estate firms and registered agents will be made available on the council’s website from Saturday.

The register will display the name, licence number, firm that the agent works for, validity period and record of offences committed or disciplinary actions taken.

And from March, pictures of registered property agents will also be available on the website to allow for easy identification.

The council will also implement a dispute resolution scheme from next month.

This involves mediation and arbitration to resolve disputes and contractual matters between consumers and real estate firms.

Firms are required to participate in the scheme once the consumer has elected to proceed.

Source : Channel NewsAsia – 29 Dec 2010

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