Professional practice when marketing projects
The CEA had received feedback on instances of salespersons holding placards near the road kerb that pose road hazard, or distributing flyers in area without obtaining prior approval.
(1) Salespersons shall not do anything that may bring discredit or disrepute to the estate agency trade or industry; and
(2) Salespersons shall conduct their business and work with due diligence, despatch and care, and in compliance with all laws including statutory and regulatory requirements, practice circulars and guidelines.
Distribution of flyers is allowed only in specific locations of designated SMRT stations and SMRT bus interchanges.
Salespersons are required to seek prior approval from LTA, as SMRT is the operator. Distribution of flyers is not allowed at SBST Bus interchanges and SBST MRT stations.
Dummy advertisements and Advertising with consent by developers
Advertisement of a property shall be done only when there is an actual property to be marketed. Salespersons shall not advertise any property that is no longer available for sale or letting. If salespersons are advertising developer’s units for rental or sale, they are required to seek the developer’s prior approval before advertising the developer’s properties. Salespersons are to retain proof of the approval to advertise.
Marketing foreign properties by estate agents involving third parties
If an estate agent secures a foreign project through a third party, it must ensure that due diligence on the project and the developer, including on the third party, is performed before marketing the property. If the EA is unable to perform due diligence, then the EA should not market the property.
If the third party is not licensed with CEA, then the third party is not allowed to conduct estate agency work in Singapore. Licensed EA cannot be present in name only and cannot let the third party perform estate agency work as the third party is not licensed with CEA. The estate agency work is to be done by the estate agent and salespersons deployed must be conversant with the facts and processes for marketing foreign property.