Real estate agents are increasingly turning from the once-lucrative resale market to rentals, as they hunt for a living to preserve their careers and clients during what is expected to be another challenging year for the industry. The shift comes as the rental market holds its own in the housing sector, which has been hit by slowing demand following several rounds of cooling measures and lending curbs,...
Agents
A former property agent was on Thursday jailed for two years by a district court for his part in a rental scam that targeted foreign nationals. 41-year-old Jim Tan Kuan Hui, who was unrepresented, pleaded guilty to three charges which involved some S$14,000. Five other similar cheating charges -- also involving foreign nationals -- were taken into consideration during sentencing. Tan also admitted to...
Property agency PropNex has launched a new fund to invest in real estate at the development stage in a partnership with fund management company Infiniti Asset Management. PropNex says the new fund - Infiniti Real Estate Strategies Fund - is designed to co-invest with developers in land bids for both local and overseas projects. These include executive condominiums and commercial properties in...
With property transactions dampened by various cooling measures last year, some real estate agencies have said they are encouraging their agents to diversify their income stream. That means looking beyond local transactions and venturing into the overseas and rental markets as well. The Council for Estate Agencies (CEA) announced on Thursday that there was a 27 per cent fall in the number of new...
The Council for Estate Agencies (CEA) has said it has licensed 1,425 estate agents and registered 31,783 salespersons as at January 1. About 3,300 of the registered salespersons are new entrants to the industry last year, compared to about 4,500 in 2012. This represents a drop of about 27 per cent. Last year, CEA issued licences to 1,492 estate agents and registered 31,040...
Two former real estate salespersons have been convicted and sentenced for offences including referring their clients to moneylenders. They are 52-year-old Mustafa Kamal Seri and 39-year-old Ghazali Bin Mohamed Rasul, both Singaporeans. The Council for Estate Agencies (CEA) said in a statement on Friday that Ghazali is also the first salesperson it has prosecuted for money-lending offences. Mustafa...
Real estate agents are expecting to incur higher marketing cost in 2014 when the new Do Not Call rules kick in on January 2. From December, consumers who do not wish to receive telemarketing messages can register their Singapore telephone numbers with the Do Not Call (DNC) Registry. Property agency PropNex says it could even prompt some agents to leave the industry. To market a property...
The Council for Estate Agencies (CEA) has announced a new training roadmap to boost the capabilities and professionalism of real estate agency leaders and salespersons. Separately, the Housing and Development Board (HDB) has also introduced a new electronic resale checklist, which could mean less hassle for those hoping to buy or sell their flats. CEA’s new Continuing Professional Development (CPD)...
Century 21 Singapore Holding announced on Friday it had partnered with Singapore real estate consultancy International Property Advisor (IPA) to expand the Century 21 presence here. IPA Key Executive Officer Ku Swee Yong will be appointed as Chief Executive Officer of Century 21 Singapore as well as Principal Advisor to Century 21 Hong Kong and Century 21 Macau. Within Singapore, IPA will operate as a...
Private equity firm Northstar Group, which has led a management buyout of the ERA Real Estate franchise here, said yesterday it aims to list the property brokerage on the Singapore Exchange within the next two to three years, moves that signal growing interest in the city’s real estate market. If successful, it would be the first listing by a real estate brokerage in the city, a spokesperson from the...