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Council for Estate Agencies to start operations on October 22
Legislation has been passed to set up a new statutory board to regulate the real estate agency industry. Speaking in Parliament on Wednesday, National Development Minister Mah Bow Tan said the Council...
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Code of Practice for Estate Agents
The Code of Practice for Estate Agents is established under the Estate Agents (Estate Agency Work) Regulations 2010 and will come into force on 15 November 2010. The rules in the Code shall apply to...
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Offences and Non-Compliance under the Estate Agents Act
There are various offences and breaches under the Estate Agents Act which estate agents and salespersons should be aware of. The offences and breaches and their corresponding maximum penalties are...
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CEA Consumer Guides
Consumers can find information on buying, selling, renting and financing of HDB flats from the HDB (Housing & Development Board) website at www.hdb.gov.sg. For information on purchase of private...
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Public Register of Estate Agents and Salespersons
What is the purpose of the Public Register of Estate Agents and Salespersons? Terminology: Under the new Estate Agents Act “Estate agents” means estate agency businesses(sole proprietors, partnerships,...
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Real estate salesman charged with receiving payment from moneylender
A real estate salesman has been charged with receiving payment from a licensed moneylender for the loans his clients took and handling transaction monies for his clients. 52-year-old Mustafa Kamal Seri...
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What your salesperson should NOT do in estate agency work
Under the Estate Agents Act, salespersons are not allowed to handle transaction monies for or on behalf of any party in the sale or purchase of any property situated in Singapore; and lease of HDB...
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Salesperson fined for dual representation
Tan Kok Wah David has been fined for representing both the landlord and the tenant in a property rental transaction. According to the Council for Estate Agencies (CEA), he had collected commission from...
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Unlicensed estate agent charged for sale of foreign properties
Under the Estate Agents Act, an estate agent must be licensed with CEA before it can market local or foreign properties in Singapore. Tan, trading as APC, faces five charges for acting as an estate...
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$2,500 fine for handling transaction monies
A former Key Executive Officer (KEO) of an estate agent, Nicholas Kok Chiew Leong, was convicted and sentenced in April 2014 for handling transaction monies, according to the Council for Estate...
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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...
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Unregistered Salesperson Sentenced to $40,000 Fine under the Estate Agents Act
On 25 May 2012, Sim Soon Leong Raymond, was sentenced to a fine of $40,000, or in default 8 weeks imprisonment, in respect of two property transactions. About the Case The Council for Estate Agencies...
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Real estate sellers must meet criteria
From Yeap Soon Teck Deputy Director (Licensing), Council for Estate Agencies We refer to the letter “No principle in CEA fee policy” (May 31). Under the Estate Agents Act, all real estate salespersons...
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Third unregistered salesperson sentenced this year
Lim Beng Kwang (48 years old, Singaporean male) was sentenced to a fine of $6,000 for holding himself out as a salesperson without being registered with the Council for Estate Agencies (CEA), an...
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Agencies, salespersons unaware of CEA policy
The writer of the letter “No principle in CEA fee policy” (May 31) has clearly expressed the concern of the real estate industry. According to the Council for Estate Agencies (CEA) website, the initial...
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Agents are always briefed on new policies
We refer to Mr John Ow’s letter “Agencies, salespersons unaware of CEA policy” (June 25). During the development of the new regulatory framework, the Council for Estate Agencies (CEA) drew up its...
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Property agents who broker short-term leases may lose licence
Some agents are facilitating short-term rentals due to the sluggish housing market. Property agents who violate the rules against short-term leases of residential properties for less than six months...
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URA, CEA look into possible rental violations
The Urban Redevelopment Authority (URA) and the Council for Estate Agencies (CEA) are currently investigating possible violations of the minimum rental period for private residential properties,...
View ArticleCEA’s Disciplinary Committee imposes financial penalty and licensing...
The Council for Estate Agencies’ Disciplinary Committee has sentenced Dennis Wee Realty (DWR) Pte Ltd to a financial penalty of $66,000 for six counts of failing to provide a written advisory message...
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