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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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Head of singapore property agent watchdog picked (www.marktan.com)

Posted by Singapore Property Match on December 11, 2009

MND tipped to announce Chionh Chye Khye’s appointment next year

THE Ministry of National Development (MND) has picked someone from within its ranks to head the new government agency that will be set up to regulate property agents in Singapore.

Sources said that the new agency, which is likely to be a statutory board, will be helmed by Chionh Chye Khye, currently executive director (designate) with MND.

Before joining MND in 2006, Mr Chionh was the chief executive of the Building and Construction Authority. During his four years there, he spearheaded initiatives to raise the quality and productivity of the construction industry, ensure building and infrastructure safety and also foster a regulatory framework.

MND is expected to announce his appointment and provide more details on the new government agency by early next year.

When contacted, MND said that views received from various channels and stakeholders are now being consolidated and studied, and will be considered in refining the new regulatory framework. Key elements are expected to be ready for announcement by early next year.

‘In the meantime, it would not be appropriate for us to comment on speculation,’ the Ministry said.

MND in October shared some details of the new regulatory framework that it is proposing for the real estate industry, which includes the creation of a new government agency to take on enhanced regulatory powers.

The move came as property agents here have come under increasing fire over the last few years for not having the right qualifications and for unethical practices. Minister for National Development Mah Bow Tan commented in March this year that the status quo was ‘not tenable’ and that the whole system was ‘not satisfactory’.

Legislative enactment is expected by the second half of next year once the key elements are unveiled.

With the planned changes, agents’ activities will be monitored more closely and rules enforced more keenly. For example, real estate agents will no longer be allowed to be freelancers (agents who are not contracted with any accredited agencies). They will also be prevented from representing more than one agency.

Agents must also pass an industry examination and be accredited by a new accreditation body (to be set up next year) before they can practise.

The new government agency headed by Mr Chionh will be charged with enforcing the rules.

Right now, there are an estimated 25,000 to 30,000 real estate agents in the market with varying degrees of training and professional standards.

Source : Business Times – 11 Dec 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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