Tag Archives: CEA

First Person Sentenced to imprisonment & fines under the Estate Agents Act

Posted on 3 May 2012 | Comments Off on First Person Sentenced to imprisonment & fines under the Estate Agents Act

Today, Tan Cher Peng, the first unregistered salesperson to be charged by CEA in Court, was sentenced to imprisonment of 1 month for a false declaration charge and an aggregate fine of $32,000 (in default 16 weeks’ imprisonment) for two instances of wrongful holding out as a salesperson and carrying out estate agency work. In one instance, relating to property advertisements, $16,000 (comprising 2 fines of $8,000 each) was imposed for holding out as a salesperson while being unregistered by CEA and unauthorised by an estate agent. In the other instance, relating to a property transaction, another $16,000 (also comprising 2 fines of $8,000 each) was imposed for carrying out estate agency work while being unregistered by CEA and unauthorised by an estate agent.

2. Currently, there are two more prosecutions involving unregistered salespersons pending before the Courts. The cases involving Sim Soon Leong, Raymond and Lim Beng Kwang are scheduled for Pre-Trial Conferences on 13 January 2012 and 16 February 2012 respectively. CEA will be prosecuting several more persons for doing estate agency work without being registered over the next few months.

3. CEA has introduced registration of salespersons to ensure that they fulfil the fit and proper criteria, possess the necessary knowledge to provide professional service to their clients, and adhere to ethical practices. For many Singaporeans, their home is the largest single investment they will ever make and many of them do property transactions through salespersons. If there are problems with the transaction or with the property, they may suffer losses and other consequences. Therefore, it is important that they be given the best possible advice and service in making such investment. The Estate Agents Act and Regulations impose requirements that registered salespersons have to comply with so as to ensure professional conduct and service in the industry.
Advice for Consumers

4. Consumers should only engage salespersons who are registered with CEA. They are advised to request for the salesperson’s registration number, and verify that the salesperson is listed on CEA’s Public Register at http://www.cea.gov.sg before engaging his or her services. The Public Register has been enhanced to allow consumers to search the particulars of a salesperson, using the salesperson’s mobile number. This is in addition to current search options using the salesperson’s name or registration number.

5. Consumers are also advised not to respond to any real estate agency flyer, leaflet or advertisement that does not provide a salesperson’s details or registration number.

6. Consumers should report to CEA when they encounter any person not listed on the Public Register but carrying out estate agency work illegally. They can report the person to the CEA at 1800-6432555 or feedback@cea,gov.sg.

Source: CEA

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Fewer illegal activities after CEA’s new real estate regulations

Posted on 3 Jun 2011 | Comments Off on Fewer illegal activities after CEA’s new real estate regulations

The new framework was designed to professionalise an industry whose image had been tarred by a few black sheep.

Six months on, real estate firms that MediaCorp spoke to said the Council for Estate Agencies’ (CEA) strict rules have reined in illegal moneylending, cashback and subletting.

The prospect of losing one’s licence or being suspended has been an effective deterrent, said Dennis Wee Group director Chris Koh. “It’s just not worth it when your ricebowl is at stake,” he said.

Propnex chief executive and Institute of Estate Agents president Mohamed Ismail said advertisements for flats for rent with one room locked – to circumvent the Housing and Development Board’s (HDB) subletting rules – are rarely seen these days. There were also fewer “misleading” advertisements. These would draw warnings from the CEA, he said.

Still, the CEA is investigating 20 cases of unregistered agents and six cases of unlicensed firms. On Wednesday, Tan Cher Peng, 45, became the first person to be charged in court under the new regulations.

A CEA spokesman said yesterday: “CEA has the legislative powers to prosecute a person who has committed offences under the Estate Agent Act such as in the case of Tan, who carried out estate agency work as an unregistered salesperson.”

Letters of advice are also issued to estate agents (companies) and salespersons for disciplinary breaches, he said, stressing that agents are responsible for ensuring the lawful conduct of their salespersons.

With the new framework, the barriers of entry have also been raised, resulting in some part-time agents exiting the industry, leaving only those “serious” about the profession, said industry players. There were 1,515 licensed estate agents and 32,221 registered salespersons as of May 31, compared to an estimated industry high of 50,000 at one time.

The required annual registration fees, professional indemnity insurance and professional training mean an outlay of some S$1,000 to S$2,000 for new entrants, said Orange Tee executive director Steven Tan.

Mr Tan noted that passing the industry examinations did not mean instant returns either, as one’s first cheque would only come in months later, all while chalking up costs for advertising and transport.

Source : Today – 3 Jun 2011

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