Govt reviewing ways to strengthen regulation of housing agents

The government is reviewing ways to strengthen the regulatory framework for housing agents.

Speaking in Parliament on Tuesday, Senior Minister of State for Finance and Transport, Lim Hwee Hua, said government bodies – including the Housing and Development Board and the Finance Ministry – are carrying out a review on how to raise the overall professional standards of housing agents here.

Mrs Lim said: “The government notes that the current state of the industry is not satisfactory. Indeed there have been frequent complaints against unscrupulous housing agents. Amongst other things, there is a need for greater control by the housing agencies over the conduct of agents.”

The assessment will cover areas such as qualification and training requirements as well as a dispute resolution mechanism.

It will also look at an enforcement framework against agencies with errant agents.

Mrs Lim said the government will announce details when the review is completed.

Source : Channel NewsAsia – 24 Mar 2009

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