Some in the property industry question how the rules can be enforced and ask who will do the policing
THE government last week unveiled a proposed framework to regulate property agents here – a move thought to be urgent as complaints about errant agents have risen over the years.
The changes mooted are varied. Among other things, the Ministry of National Development (MND) proposes that real estate agents no longer be allowed to be freelancers – that is, agents not contracted with an accredited agency.
It also wants to prevent agents from representing more than one agency.
And a recognised accreditation body for agents will be set up next year, which will create and maintain a public central registry that lists all accredited agents so that people can check that the agent they engage is qualified.
To oversee all this, a new government agency will be created. The aim is to monitor the activities of property agents more closely and enforce rules more keenly. Continue reading
Lush Dream Home 