Category Archives: CEA

Property agent review under way

Posted on 21 Aug 2009 | Comments Off on Property agent review under way

Better regulation and new training and exam requirements expected

TOUGHER powers to nail dodgy operators and new ways to solve disputes with home buyers are some of the recommendations expected from a review of how estate agents go about their business.

Industry experts also expect the government appraisal to outline new training and exam requirements for agents entering the business.

The impetus for the review – the report will be made by the end of the year – has come from the real estate sector itself, with leading players lobbying the Government to look at regulating the largely fragmented industry with very low entry barriers.

The move is timely. There has been a significant rise in sales and values in recent years – and a new boom seems on the starting blocks – while complaints against errant agents have soared.

The Consumers Association of Singapore received 1,100 real estate-related complaints last year, 1,113 in 2007, and 991 in 2006. Continue reading →

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Comparing the merits of a managing agent and an in-house team

Posted on 2 Aug 2009 | Comments Off on Comparing the merits of a managing agent and an in-house team

SHOULD private home owners directly employ staff to run their estate or should they delegate the job to a managing agent? Associate Professor Alice Christudason from the National University of Singapore’s Department of Real Estate says both approaches have their merits.

POINTS TO CONSIDER WHEN HIRING A MANAGING AGENT (MA)

~ In general, you have greater assurance of professionalism, although there is no guarantee of minimum standards since there is no licensing requirement for MAs in Singapore.

~ There will be a better chance of up-to-date technology being used, as property management firms invest heavily in computer hardware and software.

~ The condo can draw from the MA’s entire pool of manpower and resource expertise. The firm, for example, can dispatch at short notice additional staff to any of its clients when it is required.

~ When the MA makes bulk purchases of items, the condos can benefit from economies of scale. Continue reading →

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