Agents

The future of real estate is in TechProp

Even in an era of startups, digital disruptors and online everything, traditional established companies don't have to take a backseat and get left behind. Instead, they can face and fight the competition, and do things a notch better with their experience and expertise, which fly-by-night newcomers may not have. For instance, within the OrangeTee group, OrangeTee & Tie, Singapore's third-largest real...

Singapore property agents’ track records now available online

Would-be Housing Board buyers and sellers can now find out about property agent's track record with the click of a button. On Friday, the Council for Estate Agencies (CEA) launched the Property Agents' Transaction Records Initiative, which publishes the records of residential transactions facilitated by realtors here in the last two years. The first phase of the initiative has seen the CEA's website...

Real estate agency HSR fined for failing to properly advise investors in Bangkok deal

Real estate agency HSR International Realtors has been fined S$12,500 over its agents' failure to properly advise investors of the risks involved in purchasing properties in Bangkok. For breaching the Council for Estate Agencies’ (CEA) Practice Guidelines, the agency was also barred from marketing or selling foreign properties for six months, starting Sep 10, CEA said in a media release on Tuesday...

OrangeTee & Tie launches one-stop platform to manage multiple property listings by agents

OrangeTee & Tie has joined forces with players such as 99.co, Carousell and UOB to launch an app exclusively for its agents to manage property listings across multiple portals, via a single platform. Through Agent App, property agents can create new listings, market their properties, as well as manage and repost existing listings on 99.co, EdgeProp, Carousell and SRX. OrangeTee said that the feature,...

ERA owners exploring IPO for S’pore’s biggest property agency

Northstar Group said it is in the early stage of exploring an initial public offering of Singapore's biggest real estate agency ERA Realty Network, which has turned out to be one of its top-performing investments thus far. But the Singapore-headquartered private equity firm remains mum about when ERA will return to the local bourse since the delisting of its former listed parent Hersing Corporation four...

Property agency fined for failing to warn investor of risks in buying foreign property

A Singapore property agency that marketed a US hotel project to an investor has been fined S$7,500, for failing to inform him in writing of the risks involved in buying foreign properties. The US developer was later charged with alleged fraudulent activities. According to the Council for Estate Agencies (CEA) in a news release on Thursday (Jan 19), Square Yards Singapore and US developer North Dakota...

Property agency industry shrinks further in tepid market

SINGAPORE'S property agency industry continues to shrink as more agents throw in the towel and smaller agencies close shop amid keen competition in a tepid market, with technological disruptions also nibbling at the transactions pie. Following the latest licence renewal exercise, the number of licensed property agencies fell to 1,286 as at Jan 1, 2017, a 6.1 per cent drop from 1,369 a year ago, and the...

Estate agent Franks Property, sole director fined S$215,000 for unlicensed work

Property management company Franks Property and its sole director were on Wednesday (Dec 21) fined a total of S$215,000 for conducting unlicensed estate agency work, the largest fine meted out by a court for such an offence, the Council for Estate Agencies (CEA) said in a media release. The company had carried out three property transactions without first being licensed as an estate agent. Its sole...

Real estate firm, agent fined for mispresenting sale of New Zealand property

Real estate agency SQFT Global Properties Singapore was on Oct 4 fined S$10,000 for failing to supervise its agent with regard to the sale and marketing of a property in New Zealand. In a media release on Monday (Dec 5), the Council for Estate Agencies (CEA) said Paleenia Wong Mui Wah, who was an agent with SQFT Global Properties Singapore at the time, had told an investor that the NZ$65,000 (S$65,555)...

Tech disruption comes to real estate sector: Should property agents be worried?

When she wanted to sell her flat along Hougang Avenue 4 earlier this year, Ms Lee and her husband engaged a property agent and at the same time, decided to have a go at creating their own listing on a few online property portals. “Our friends told us about these DIY (do-it-yourself) platforms and we thought: ‘Why not? There’s no harm trying’,” said the 39-year-old who declined to reveal her...

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