Some 33,000 real estate agents registered: CEA

33,054 real estate agents were registered with the Council for Estate Agencies (CEA) as at end of August and 1,535 agencies have been awarded licences.

The CEA gave an update on its operations to the media at a closed-door event on Monday, one year since its formation.

The council is tasked with industry development and enforces regulations such as compulsory licensing.

So far, the CEA has issued about 100 letters of advice to errant agents on complaints of misrepresentation or misconduct. One agent was also taken to court for practicing without a licence.

Going forward, the council said it will work with key stakeholders to promote professional estate agency practices.

It is also launching collaterals for better consumer prudence and education.

Source : Channel NewsAsia – 12 Sep 2011

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