PropNex rolls out measures to win customers’ trust and confidence IF YOU discovered that the agent you had hired to sell your flat was also quietly acting for the buyer, you’d probably be hopping mad and looking for some kind of recourse. Unfortunately, there is nothing by way of laws over real estate practices that you can turn to. Property agencies like PropNex, however, are banking on...
Property Agents
One of Singapore's biggest real estate agencies, PropNex Realty, is firing more than one-third of its agents. According to its CEO, the move is aimed at cleaning up the profession. PropNex is firing those who have been with them for over a year, but have yet to submit a single transaction. About 2,800 agents currently on its list will be affected. The agents were first given a choice to remain as...
The consumer watchdog wants to reduce the growing number of complaints against property agents and real estate agencies. So it is developing a CaseTrust Accreditation Scheme for the industry. This could be introduced by the middle of 2008. Estate agencies who wish to apply and attain the CaseTrust status will be subjected to a more stringent criteria. The scheme will also raise the requirements for an...
COMPLAINTS against real estate agents are rising. According to the latest statistics, more than 1,000 reports have been lodged with the Consumers Association of Singapore and the Inland Revenue Authority. I am puzzled why little has been done to eradicate the presence of unethical agents who offer wrong advice and short-change buyers and sellers in a booming sector. It is time the industry is...
Real estate agents may be accredited under a new scheme, if the Ministry of Finance (MOF) gives the go-ahead. Two industry watchdogs - the Institute of Estate Agents (IEA) and Consumers Association of Singapore (CASE) - are joining hands to start a new accreditation scheme and they plan to submit a proposal to MOF in the middle of the year. They believe compulsory guidelines will help improve the...
HDB announced on Monday that it is introducing mandatory Resale Checklists for housing agents handling resale HDB flat transactions. The checklists cover a list of key policies and procedures that agents will need to advise resale flat buyers and sellers before they commit to a transaction. This is part of HDB's ongoing efforts to ensure that buyers and sellers are aware of relevant HDB purchase and...