The Singapore Accredited Estate Agencies (SAEA) is rolling out a series of courses to help real estate firms comply with regulations of the recently-formed Council for Estate Agencies (CEA). The agency said the courses will assist agencies to put in place standard operating procedures (SOPs) and guidelines for their operations. These SOPs and guidelines are needed by April next year - as stipulated by...
Singapore Accredited Estate Agencies
THE Singapore Institute of Surveyors and Valuers, and Singapore Accredited Estate Agencies will launch a Global Real Estate Specialist course next month. The course, which will be conducted quarterly, is part of a programme for real estate practitioners who want to make their mark in foreign markets - in particular, the UK, US, Australia, New Zealand and some parts of Asia. They will learn how best to...
FIRMS registered with the Singapore Accredited Estate Agencies (SAEA) will need to have professional indemnity insurance before they can renew their accreditation. A minimum limit of indemnity of $500,000 is recommended under the new rule that comes into effect on April 1. The move by the SAEA is to make consumers more confident when they engage estate agents. All commission agreements and exclusive...
From April 1, estate agencies must have a valid Professional Indemnity (PI) insurance to renew their accreditation status with the Singapore Accredited Estate Agencies (SAEA). The SAEA recommends a minimum limit of indemnity of S$500,000. SAEA said the move is designed to strengthen consumer confidence in estate agents who are believed to handle eight out of 10 real estate transactions. Having a...
Complaints about property agents run the gamut from service quality to commission disputes. Each week, the Singapore Accredited Estate Agencies (SAEA) deals with 15 to 25 such enquires and feedback from the public, comparable to the 1,000 to 1,200 that reach the Consumer Association of Singapore every year. Based on the four most frequent complaints received, the SAEA offers tips on how you can deal with...
Plans are underway to ensure that all property agents in Singapore have proper accreditation by the end of this year. According to the Singapore Accredited Estate Agencies (SAEA), it is working with the Workforce Development Agency (WDA) to equip more agents with a formal certification. Out of 30,000 property agents in Singapore, only about 6,000 have sat for exams. The SAEA plans to introduce an...
WE REFER to the report, "Rental scams on the rise here" (Oct 13). It is important for the public - who may be potential tenants, buyers, landlords and/or sellers - to be aware of their rights and to do as much due diligence checks before entering into any contracts or handing over monies. We strongly advise the public to engage or work with accredited agents and salespersons under the Singapore...
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...