Singapore Property By Mark Tan R032504C -Expat Relocation Agent-CONDO/HDB/Buy/Sell/Rent/Mgmt

Posts Tagged ‘iea’

When property agents advertise without permission …

Posted by Singapore Property Match on September 25, 2011

TODAYonline | Voices | When property agents advertise without permission ….

My experience seems like a case study for why “Fake property ads still vex despite measures” (Sept 2).

Two months ago, I tried to sell my Housing and Development Board flat via three of my friends who are property agents. I was told the importance of getting a sole agent, but I thought fair competition was necessary since all three friends were dear to me.

Then, other agents learned about my unit being on sale and offered to bring buyers to see my flat. The competition was welcomed, on the condition that they could not advertise. But they did, online.

The Council for Estate Agencies said I had no case, for two reasons.

One, the agents did not mention which unit they were advertising. Hence, they could be advertising for another unit. Two, the agents used generic photographs, which did not show the interior of my unit.

The reasons are valid. However, CEA could not respond to my request for documented proof that the agents had permission to advertise for any of the units in my HDB block.

In my view, infringement of property advertising guidelines will remain an issue if the agency in charge is unwilling to enforce the rules. I look forward to more serious enforcement to raise the professional standards of property agents in the future.

 

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CEA Home » Estate Agents and Salespersons »  Licensing/Registration »  Licence/Registration RenewalLicence/Registration Renewal YEAR END LICENCE/REGISTRATION RENEWAL/UPDATE 2012 SALESPERONS LIST EXERCISE

Posted by Singapore Property Match on September 20, 2011

Home » Estate Agents and Salespersons »  Licensing/Registration »  Licence/Registration RenewalLicence/Registration Renewal
YEAR END LICENCE/REGISTRATION RENEWAL/UPDATE 2012 SALESPERONS LIST EXERCISE

The Council for Estate Agencies will be conducting the estate agent licence and salesperson registration renewal exercise from 1st October 2011 to 15 November 2011, 17:00hrs. KEOs of the estate agents are required to login to the E-Services to submit the renewal application for the licence renewal as well as the salesperson renewal. Salespersons need to approach your estate agent to submit your renewal application or to indicate whether you wish to continue to practice for 2012 for which registration fee is payable i.e.1st Jan 2012 to 31 December 2012.

Table 1 to 3 show the categories of estate agents and salespersons who are due for renewal for 2012 as well as the fees payable.
Table 1: Renewal of Estate Agent Licence/ Update 2012 Estate Agent Licence List
Renewal of Estate Agent Licence/
Update 2012 Estate Agent Licence List
Categories Is submission of renewal application required? Fees
Estate Agent Licence expiring on 31 December 2011 (exclude Estate Agent Licence expiring on 31 Dec 2011 due to KEO have not passed REA exam) 1. Renewal application is required.
2. Submit application online via E-Services.
3. KEO is required to submit by 15 November 2011, 1700hrs the following:
- Signed printout hardcopy renewal application form
- Signed printout hardcopy KEO/Directors/Partners Declaration form
- Signed printout hardcopy salesperson application forms
- Valid Professional Indemnity Insurance (PII) for 2012
- Latest ACRA Biz Profile

$107 (Application Fee) & Annual License Fee (Based on the size of estate agent)
- Estate Agent Licence expiring on 31 December 2012/ 31 December 2013

- Estate Agent Licence expiring on 31 December 2011 due to KEO have not passed REA exam)
1. Renewal application is not required.
2. Submit a valid Professional Indemnity Insurance for 2012 by 15 November 2011, 17:00 hrs.
Annual Licence Fee (Based on the size of estate agent) Table 2: Renewal of Salespersons Registration / Update 2012 Salespersons List
Renewal of Salespersons Registration/
Update 2012 Salespersons List
Categories Is submission of renewal application required?
Fees
Salespersons with conditional registration till 31 December 2011
(Include KEO/Practising Directors/Partners who are practising as salespersons) 1. Use e-services to submit online renewal application.
2. Submission should not be later than 15 November 2011, 17:00 hrs
$230 (Annual registration fee) &
$53.50 (Application fee)
Salespersons with registration till 31 December 2011,subject to them passing the RES/REA examination by 31 December 2011
(Include KEO/Practising Directors/Partners who are practising as salespersons)
1. Registration will be extended to 31 December 2012 subject to passing REA/RES exam by 30 June 2012
2. Submission of renewal application is not required.
3. Indicate salesperson who wish to continue to practice for 2012
$230 (Annual registration fee)
- Salespersons with registration till 31 December 2012 or 31 December 2013

- Salespersons with registration till 31 December 2011 as Estate Agent Licence expiring on 31 December 2011 due to KEO have not passed REA exam
(Include KEO/Practising Directors/Partners who are practising as salespersons)
1. Submission of online renewal application is not required.
2. Indicate salesperson who wish to continue to practice for 2012 no later than 15 November 2011, 17:00 hours
3. For the salespersons being indicated that they are not continuing for 2012, they will not appear on the Public Register on 1 January 2012.
$230 (Annual registration fee) Table 3: New Licence / Salesperson Application
New Licence / Salespersons Application
Categories Is submission of renewal application required? Fees
New Licence Application/
New Salespersons
Application approved on or after 1st October 2011 Do not need to participate in the Year End Renewal Exercise Licence Fee Payable 1. Application Fee ($107)
2. Half of Annual License Fee for 2011 (Based on the size of estate agent)
3. Annual Licence fee for 2012 ,
  Registration Fee Payable 1. Application Fee ($53.50)
2. Half of Annual Registration fee for 2011($115)
3. Annual Registration fee for 2012 ($230)
Last Updated on 19-Sep-2011

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NTUC-IEA Singapore reaches out with U Associate Programme

Posted by Singapore Property Match on August 8, 2011

NTUC reaches out to Professionals, Managers and Executives
through U Associate Programme

NTUC-IEA Partnership Agreement

The National Trades Union Congress (NTUC) and the Institute of Estate Agents (IEA), Singapore signed a Partnership Agreement today as part of the Labour Movement’s efforts to reach out and serve more professionals, managers and executives (PMEs). Mr Patrick Tay, Director (PMEs & Legal Services), NTUC and MP for Nee Soon GRC, was the Guest-of-Honor at the signing ceremony.

The agreement, signed by Mr Herman Yeo, Chairperson (Membership) of IEA and Mr Vivek Kumar, Director (Membership) of NTUC, and witnessed by NTUC Secretary General Lim Swee Say, marks the beginning of a close partnership between the Labour Movement and the IEA. Close to 1800 IEA members can now enjoy the convenience of dual privileges offered by the Labour Movement and IEA under this program, with just one membership!

U Associate Programme

The U Associate programme was launched in March 2011 to extend the Labour Movement’s reach to PMEs through existing industry associations, alumni clubs, etc. U Associate program is designed to help our partner associations grow.

The first U Associate partner was Nanyang Technological University Alumni Club (NTU AC). Today, over 3,000 NTU Alumni Club members are enjoying the U Advantage of NTUC Membership under the U Associate Programme. Under the U Associate Programme, members can also look forward to special engagement activities specially crafted to meet their lifestyle needs. For example, NTUC & NTU Alumni Club co-hosted a U Family Night Out event on 15 July 2011 for U Associate members to enjoy an evening of plays, skits, and pure family fun!

Upcoming U Privileges for IEA Members

Vivek Kumar noted, “Council for Estate Agencies (CEA) now requires Real Estate professionals to continually up-skill themselves. NTUC-IEA U Associate members can now tap into UTAP (Union Training Assistance Program), a training subsidy of $250 offered by NTUC to all its members for identified courses on co-sharing basis. We are pleased to announce that UTAP has been extended to three IEA training programmes, namely the RES (Real Estate Salesperson Course), REA (Real Estate Agency Course) and CPD Activities (Continuing Professional Development) are compulsory courses that IEA members and all registered practitioners have to attend annually to ensure skills competency and professionalism across the real estate agency industry. Completing these courses are a requirement for renewal of registration or licensing by CEA.”

Mr Mohamed Ismail said, “With 30,000 estate agents in the industry, IEA and NTUC believe it is important to reach out to them through a holistic framework that includes supporting them not only in life and at play, but with their career development too.”

PMEs Outreach

Speaking on the occasion, Guest-of-Honor Mr Patrick Tay said, “The number of PMEs is expected to rise in the near future as better educated and younger residents join the workforce. We wish to build a community for PMEs where they can enjoy the privileges relevant to them, and more importantly, voice their opinions and concerns as part of the community. We will raise these at relevant forums so they can get a career mobility that would make them feel enriched, and a lifestyle they’d like to enjoy. IEA and NTU Alumni Club members would form a critical part of this PME Community.”

Conclusion

U Associate program is a new way for NTUC to intensify its outreach to PMEs through existing professional associations & clubs. NTUC will strive to work towards achieving sustainable growth for a stronger economy and inclusive growth for an inclusive workforce, so as to help working people of all collars, ages and nationalities live a better life through better skills, better jobs and better pay.

Aug 05, 2011 – By: NTUC-IEA

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The Council for Estate Agencies (CEA) is now official.

Posted by Singapore Property Match on August 19, 2010

Press Releases

MND INTRODUCES ESTATE AGENTS BILL
IN PARLIAMENT ON 16 AUGUST 2010

1 The Ministry of National Development (MND) introduced the Estate Agents Bill for a First Reading at the Parliamentary Session on 16 August 2010. The proposed Estate Agents Bill seeks to establish the Council for Estate Agencies (CEA) as a new statutory board under MND to regulate the real estate agency industry.

Key Features of the Estate Agents Bill

Coverage of Framework and Establishment of CEA

2 The proposed Estate Agents Bill will apply to all estate agency work for Singapore and foreign properties marketed, sold or leased in Singapore. CEA will be established to administer the new regulatory framework.

Licensing of Estate Agencies and Registration of Salespersons

3 Estate agencies will continue to be licensed, but with enhanced conditions. Each agency will have to appoint a key executive officer (KEO) to be responsible for the proper administration and overall management of the business and supervision of all its salespersons. The KEO, all partners and directors in each agency will have to satisfy enhanced licensing conditions, such as fulfilling fit and proper criteria and prohibition to simultaneously hold a moneylender’s license, or be an employee, director or partner of a licensed moneylender.

4 Estate agencies will be required to exercise effective supervision of their salespersons and take responsibility for their actions. To enable agencies to do so, the Bill will require a salesperson to contract with only one agency and to operate under a written agreement with the agency. Salespersons will need to be registered with CEA through and with the support of their agencies, before they are allowed to do estate agency work.

5 Estate agencies will have to ensure that all their registered salespersons are professionally competent and meet the fit and proper criteria. Salespersons also need to have the necessary qualifications, pass the CEA’s salesperson examination and undertake continuing professional development relating to estate agency work. Information on all registered salespersons will be available on a public register, including the agency they are working for and any disciplinary action taken against them.

Duties and Liability of Estate Agencies and Salespersons

6 The Bill will empower CEA to prescribe codes of practice, ethics and professional conduct to regulate the practices of estate agencies and salespersons. Failure to comply with the codes may render the estate agency and/or salesperson liable to disciplinary action.

7 The CEA will also prescribe standard estate agency agreements between estate agencies and their clients, to ensure that the agreements do not contain unfair clauses. An estate agency that performs estate agency work without the required agreement will not be able to recover any fees or seek any remedy in legal proceedings.

Investigative and Disciplinary Powers

8 The Bill will provide CEA with powers of investigation to enable CEA to investigate breaches and enforce regulatory requirements. Under these provisions, CEA investigators will be able to summon agencies’ KEOs and salespersons, and seize relevant materials and documents.

9 The Bill will allow CEA to set up a Disciplinary Committee to hear and consider disciplinary cases. The Disciplinary Committee can mete out penalties including revocation, suspension, fines, admonishment and other conditions on estate agencies and salespersons if it finds the agencies and/or salespersons responsible.

10 The Bill will allow any person who is aggrieved by the decisions of CEA to lodge an appeal to an independent Appeals Boards. The decision of the Appeals Board shall be final.

Dispute Resolution

11 Estate agencies and salespersons will be required to participate in CEA’s prescribed dispute resolution process covering mediation and arbitration, once this has been initiated by the consumer.

Transition Arrangement

12 The Bill includes transition provisions for existing agencies to be deemed as licensed by CEA for the remainder of the duration of the licence previously issued by the Inland Revenue Authority of Singapore (IRAS) until 31 December 2010. Other transitional arrangements will be provided for in the regulations to be published in the Gazette after the Bill is passed.

Second Reading

13 The Bill will be tabled for a Second Reading at the following available Parliament sitting.

Issued by: Ministry of National Development
Date: 16 August 2010

The Council for Estate Agencies (CEA) is now official. Under the Estate Agents Bill, this new statutory board will take over IRAS and become a regulator for the real estate industry. Estate agents will be required to register with CEA and pass an exam.

Those of you who have been closely watching will have already known this, but now the bill has made it official.

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NEW STATUTORY BOARD TO BE FORMED TO RAISE PROFESSIONALISM OF REAL ESTATE AGENCY INDUSTRY

Posted by Singapore Property Match on May 6, 2010

Ministry of National Development News Releases on 6 May 2010
NEW STATUTORY BOARD TO BE FORMED TO RAISE PROFESSIONALISM OF REAL ESTATE AGENCY INDUSTRY

1 The Ministry of National Development (MND) plans to set up a new statutory board to raise the professionalism of the real estate agency industry and to better safeguard consumer interest.

2 The proposed statutory board – the Council for Estate Agencies (CEA) (地产代理理事会) – will implement a new framework to regulate the industry, through the enhanced licensing of estate agencies, registration of estate agents, new regulations on the conduct of estate agency work, discipline and dispute resolution mechanisms, and public education. CEA will take over the Inland Revenue Authority of Singapore’s (IRAS’) current role in licensing real estate agencies. MND will introduce a Bill in Parliament in the second half of this year to set up the new Council and to establish the new regulatory framework.

Overview of the New Regulatory Framework

Enhanced Licensing for Estate Agencies

3 Real estate agencies will continue to be licensed, but will have to satisfy enhanced licensing conditions. These conditions seek to ensure that the licensees are competent, fulfil fit and proper criteria, and have in place systems and processes to manage the business and supervise their agents well. For instance, the licensees must not be un-discharged bankrupts, possess criminal records involving fraud or dishonesty, or have previous track records of complaints as agents.

4 They also need to comply with a Code of Practice that stipulates systems and processes for areas such as agents’ training, complaints handling and dispute resolution. They will need to have professional indemnity insurance to adequately cover any financial liabilities arising from their transactions, and cannot be a licensed moneylender or an employee of a licensed moneylender to avoid a conflict of interest.

Registration of Agents through their Agencies

5 Agencies will also be expected to exercise effective supervision of their agents and take responsibility for their actions. To enable agencies to do so, all estate agents are to contract with only one agency. Individual agents will need to be registered with the Council through and with the support of their agencies, before they are allowed to do estate agency work. Agencies will have to ensure that the agents registered under them are competent and meet the fit and proper criteria.

6 As part of the new registration requirements, estate agents will need to pass a mandatory industry examination, and undertake mandatory continuing professional development (CPD) of six hours a year. This is to ensure that the agents possess the necessary knowledge for estate agency work, and continuously upgrade themselves by keeping abreast of latest changes in Government policies and procedures relating to real estate transactions. The number of CPD hours will be increased over time to raise the professional standards of the industry.

Regulations on Conduct of Real Estate Agency Work

7 Agencies and agents will be required to comply with new regulations on the conduct of real estate agency work. These include a code of ethics and professional conduct for estate agents, standard prescribed estate agency agreements for sale and leasing transactions and other measures aimed at avoiding a conflict of interest, such as the dual representation of both the buying and selling parties. MND will engage the industry and CASE over the next few months to work out the details of these measures.

Mechanisms for Discipline and Dispute Resolution

8 The new regulatory framework will also include legislative powers and mechanisms to investigate and discipline agencies and agents who fail to comply with the new regulations and codes. Disciplinary actions will include warnings, fines, suspension and debarment of agencies and agents. Alleged criminal offences such as fraud and cheating will continue to be referred to the Police.

9 To help consumers seek redress on disputes and contractual matters, estate agencies and agents will be required to participate in a dedicated dispute resolution process covering both mediation and adjudication, which will tap on existing dispute resolution facilities such as CASE and the Singapore Mediation Centre.

Public Education

10 While the Government works to strengthen the regulatory framework for estate agencies, individual homebuyers and tenants will also need to exercise greater care and responsibility. Public education will be a key focus of the new Council’s work, and the new regulatory framework will include measures to equip consumers with the necessary knowledge to conduct their real estate transactions prudently and with due diligence.

11 Agents will be required to wear a standard agent identification card when doing estate agency work. A public registry of real estate agencies and agents will be set up to provide a comprehensive listing of all licensed agencies and registered agents. The public registry will include any records of disciplinary actions taken over the last three years or any recognition and award received. Consumers can then check on the particular agency or agent they are engaging.

Transition Arrangements for Existing Agencies and Agents

12 Arrangements will be made to help existing estate agencies and agents transit to the new licensing and registration framework. For instance, they will be exempted from the new minimum 4 GCE “O” level passes or equivalent educational qualification criterion. Those who have passed an industry examination, such as the Common Examination for House Agents, the Common Examination for Salespersons, the Certified Estate Agents Examination and the National Skills Recognition System, will not be required to take a new examination. Those who have not passed any existing industry examination will be given one year after the start of the new examination to pass the examination, and be given a provisional registration in the interim. Existing agents who are un-discharged bankrupts or have past criminal records will be considered for registration on a case-by-case basis.

New Regulatory Framework

13 MND first announced its intent to develop a new regulatory framework for estate agencies in August last year. An industry consultation exercise was conducted from September to October 2009, followed by a public consultation exercise1 from October to November 2009. Industry and public inputs were taken into consideration in developing the new regulatory framework.

14 The proposed key elements of the new regulatory framework are summarised at Annex. MND will continue working out further details of the new framework over the next few months.

Annex

PROPOSED KEY ELEMENTS OF NEW REGULATORY FRAMEWORK

New Statutory Board – Council for Estate Agencies – to strengthen regulation of real estate agency industry

<Enhanced Licensing for Estate Agencies>
Singapore Citizen or Permanent Resident (current)
At least 3 years of working experience (enhanced)
Completed at least 30 property transactions in past 3 years, of which at least 10 must be private properties and at least 10 must be HDB flats transactions (enhanced)
Major shareholder of the applying agency (current)
Register its business with ACRA (current)
Not to register a name which is similar to existing agencies (current)
Pass examination for licensees or equivalent qualifications (current)
Have minimum 4 GCE ‘O’ Level passes or equivalent (new)
Fulfill fit and proper criteria (new) such as
Must not be an un-discharged bankrupt;
Must not possess criminal records involving fraud or dishonesty;
Must not have previous track record of complaints or convictions
Put in place systems and processes to ensure proper management of business and agents
Be covered under a Professional Indemnity Insurance (new)
Must not be a licensed moneylender or an employee of a licensed moneylender (new)
Registration of Agents through their Agencies

<Singapore Citizen or Permanent Resident>
Must be at least 21 years old
Not be registered with another agency or be an existing licensee of an agency
Have minimum 4 GCE ‘O’ Level passes or equivalent
Pass examination for estate agents
Undertake mandatory continuing professional development
Fulfill fit and proper criteria such as
Must not be an un-discharged bankrupt;
Must not possess criminal records involving fraud or dishonesty;
Must not have previous track record of complaints or convictions;
Must not be a licensed moneylender or an employee of a licensed moneylender

<Regulations on Conduct of Real Estate Agency Work>
Code of Ethics and Professional Conduct
Standard prescribed estate agency agreements
No dual representation

<Mechanisms for Discipline and Dispute Resolution>
Disciplinary actions such as warnings, fines, suspension and debarment
Dedicated dispute resolution mechanism covering both mediation and adjudication

<Public Education>
Agent identification card
Public registry of agencies and agents

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Who needs real estate agents when we can do it ourselves?

Posted by Singapore Property Match on December 27, 2009

 
     
Who needs real estate agents when we can do it ourselves?
 
By Jeanmarie Tan

FINDING my dream home has turned increasingly nightmarish these past few months.

And with the real estate boom and record number of complaints about rogue property agents this year, it looks like I’m not the only one having sleepless nights.

Three years ago, my husband and I found a three-room resale HDB flat in the Holland area.

We had hired an agent to help us suss out the best deal and duly paid him the standard 1 per cent commission for his efforts.

With a baby now, we looked to upgrade to a five-room resale HDB flat closer to the city, where my parents live.

We sifted through the classified ads and found the flat – at Zion Road – in September.

The seller’s agent insisted we pay him the 1 per cent commission, which amounted to more than $6,000. According to him, by responding to his newspaper ad and giving us the unit number, he automatically became our agent and will then handle the administrative paperwork for us.

So due to ignorance on our part, we signed on his commission form at our first and only viewing because we were afraid of losing our dream home.

Well, not many are aware that it’s not mandatory for buyers to pay dual agents that fee. Such hindsight struck us a little too late.

Even though the Ministry of National Development (MND) recently suggested prohibiting an agent from acting for both seller and buyer in HDB resale transactions due to the conflict of interest involved, this hasn’t stopped them from exploiting “the free and open market”.

Our appeals to both MND and Singapore Accredited Estate Agencies to help us intervene with the negotiations came to naught.

MND can recommend measures till it’s dry in the mouth, but who will ensure that the agents obey? At present, there is really no option for buyers but to pay any commission demanded.

It’s either that, or potentially lose your dream home to other parties during the time spent complaining to the regulating bodies.

The expensive lesson we’ve gleaned from this episode?

We don’t need agents, really.

And we certainly don’t want to pay them thousands of dollars to help sell our current place – especially since we now know we can do it all by ourselves, thank you very much.

If more consumers act on this belief, we can help rein in the bad practices in the real estate industry.

This article was first published in The New Paper.

 
I believe that the moment you sign on the dotted line of a contract with the agent, you have already made a deal. You cannot back out unless you can prove (which can be difficult) that you have been wrongly misled or informed by the other party.

Never, never be carried away with the thought of losing a dream flat and acting rashly with a transaction as my husband always tells me, “We can also create our own.”

Posted by: malinablu at Sun Dec 27 21:53:23 SGT 2009
I totally agree with your very wise and truthful comments, “markturner”. When my husband and I wanted to buy our first second-hand flat, I discovered that it was not compulsory for us to pay the 1 per cent commission even though the agent insisted that it was the norm. Because my husband and I offered the seller his asking price, we tried to negotiate with the agent on a lesser commission. He refused. So, we explained to the seller our financial situation and he of course was very willing to help by talking to the agent’s boss who was his friend. He explained further that he even gave a commission to buy a bungalow. Of course the agent was unhappy but yes, we got our “dream” flat.

The truth is, we didn’t even need the agent to do the paperwork for us. Why? He collected the …..

Posted by: malinablu at Sun Dec 27 21:43:27 SGT 2009
Aiya, don’t want to pay comm just say. why need to blame here and there? if you really so good in buying or selling yourself then just tell the agents you don’t need one. Plus you say you scare to lose your dream house, then i ask you one Q, is singapore only have one HDB? you want this you want that? got free food in this world? use ur backside and think pig. me myself is a agent b4, and im totally know how it feel when you pigs got this problem.
Posted by: Pig12345 at Sun Dec 27 21:21:28 SGT 2009

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Clearing the air on agent’s commission and ethical obligation

Posted by Singapore Property Match on December 10, 2009

I REFER to yesterday’s Forum Online letter by Ms Koh Siew Buay, ‘Couple viewed flat and then came hubby’s sister – seeking agent’s commission‘.

It is not clear from Ms Koh’s letter if she had advertised to sell her own property or she is an estate agent acting on the seller’s behalf. In either case, we would like to clarify that it is proper for agents to represent their family members in property transactions.

However, the rules of good practice and disclosure of interest continue to prevail. In this situation, the buyer’s agent should have made contact with Ms Koh in the first instance to identify herself as the brother’s appointed agent and make arrangements to view, even if she is unable to be present at the initial viewing. Doing so would have prevented any controversy or misunderstanding arising subsequently.

If Ms Koh is an agent, we suggest she present the buyer’s offer to her seller as she is expected to do so and resolve her contention with the buyer’s agent over commission separately. There is no cobrokerage contract as yet between Ms Koh and the buyer’s agent even if the seller accepts the offer.

Alternatively, Ms Koh is at liberty to negotiate the proportion of shared commission with the buyer’s agent if she deems it appropriate. In the event that Ms Koh is unable to resolve this, Singapore Accredited Estate Agencies can facilitate mediation for both agents.

If Ms Koh is the property owner, she is, of course, not obliged to accept the offer or pay commission. There is also a potential conflict of interest if the buyer’s agent is asking the seller for commission.

In addition, we would like to add that if the agent is acting on the seller’s behalf, there exists an ethical obligation for him to declare the relative’s interest in the property to his client should a family member wish to buy. This also applies to the agent who may be interested in buying the property he is marketing for the seller.

Dr Tan Tee Khoon
Chief Executive Officer
Singapore Accredited Estate Agencies

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