Industry suggestions include licensing, mandatory training
JUST like drivers, some suggest, property agents should be licensed by a government body – and subject to a demerit point system too.
That would mean being allowed to a set number of points, before facing possible suspension for misconduct.
Such ideas were floated by industry players yesterday at a forum organised by the Institute of Estate Agents (IEA), as the Ministry of National Development (MND) began this month its consultation process on a new regulatory framework for the real estate sector.
Complaints of agents’ poor service are rising and customers are now more discerning and demanding, so such regulations will be necessary to keep the standards of the profession up to mark, said IEA president Jeff Foo.
National Development Minister Mah Bow Tan had said in March that the whole system was “not satisfactory” and the status quo “not tenable”, after several cases of unethical practices by housing agents came to light. Continue reading
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