It’s among several proposals mooted to protect consumers
A SPECIAL tribunal might be set up to resolve disputes over residential real estate transactions – replacing the current bewildering hotch potch of options.
This is one of a wide-ranging set of proposals aimed at protecting consumers and lifting standards in the largely fragmented and self-regulating property industry.
Others include: Accrediting all agents, setting up a central registry and instituting a common entrance examination for agents.
The Ministry of National Development (MND) will launch a public consultation exercise for one month from today.
It has just conducted extensive industry consultations on the proposed shake-up. A key impetus for the review, the Government said, has been the high number of complaints in recent years. Continue reading