Tag Archives: CEA

Man fined $16,000 for unlicensed estate agency work

Posted on 17 Sep 2014 | Comments Off on Man fined $16,000 for unlicensed estate agency work

A 48-year old Singaporean man was sentenced to a fine of $16,000, or in default six weeks imprisonment, after being convicted of unlicensed estate agency work.

In a statement, the Council for Estate Agencies (CEA) said Jordan Goh Swee Thye advertised a HDB flat in Henderson Road for rent on Gumtree, despite knowing the flat was a HDB rental flat; hence, subletting is not allowed.

The unlicensed estate agent conducted the viewing and assisted in negotiating the monthly rental amount between the subtenant and the main tenant, which was agreed at $1,200 per month from February 2012 to February 2013.

Goh collected a commission of $600 each from the tenant and the subtenant.

In June 2012, HDB repossessed the flat after discovering it was illegally sublet.

Thereafter, the subtenant, who was unable to occupy the flat, reported the matter to CEA. Notably, the subtenant did not also recover the rental deposit he paid to the main tenant and Goh’s commission.

After investigation, Goh was charged by CEA in court on 18 June 2014 and convicted and sentenced on 10 September.

CEA advises the public consumers to engage only estate agents and salespersons who are licensed/registered with the council.

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Former KEO sentenced for handling transaction monies

Posted on 15 Sep 2014 | Comments Off on Former KEO sentenced for handling transaction monies

A former Key Executive Officer of an estate agent, Nicholas Kok Chiew Leong, was convicted and sentenced in April 2014 for handling transaction monies. Kok was fined $2,500 for handling an option exercise fee of $4,000 for his clients. Another charge of a similar breach was taken into consideration for sentencing.

A couple engaged Kok to purchase a unit in Clementi. They made an offer for the unit after the second viewing. Two days after making the offer, Kok’s clients handed him $1,000 in cash, the proposed option fee and they signed the resale checklist and Option to Purchase. Two weeks later, they handed Kok the option exercise fee of $4,000, which he subsequently passed to the sellers.

CEA advises consumers not to hand transaction monies to salespersons. Salespersons are not allowed to handle transaction monies in order to protect the clients’ interest and to minimise the risk involved in loss of sales proceeds. Consumers are asked not to request their salespersons to handle transaction monies as the latter would end up committing an offence.

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