\n<\/p>\n
Some inactive property agents CNA spoke to said they would rather give up their licence.<\/p>\n
\u201cI don’t think this is going to work long term,\u201d said Mr Wesley Ong, 25, a full-time university student who has not transacted since getting registered in 2024. \u00a0<\/p>\n
As he was enrolled in the Real Estate Business Diploma programme before April 2020, he was exempted from taking the Real Estate Salesperson (RES) examination. He said he had not heard of this workaround before.<\/p>\n
\u201cMaybe it can protect your licence now. But are you (going to) \u2026 keep relying on other people’s transactions just to protect your licence? Then three years down the road, you still don’t have any property transacted,\u201d he said.<\/p>\n
\u201cUltimately, at the end of the day, you’re still earning nothing. Then what\u2019s the point?\u201d<\/p>\n
Another agent added that she did not think active agents would go so far as to risk their registrations.<\/p>\n
\u201cNow the government is so strict. So with those active agents, I doubt they will help in that way. It is your livelihood, your team. Why would you want to risk it for someone who is inactive?<\/p>\n
\u201cIf they fail to deliver, they just have to go and do the (refresher) exam \u2026 So it’s not that there is no leeway,\u201d she said.<\/p>\n
The agent, who works full-time in a different industry and got registered about 10 years ago, said she keeps the licence because it could \u201ccome in handy\u201d.<\/p>\n
She suggested that agents who cannot meet the minimum transaction requirement can work under a qualified team leader, before the agent resumes independent practice.<\/p>\n
\u201cProfessionalism is actually all about knowledge, mentorship and continuous learning, not just transaction numbers,\u201d she said.<\/p>\n
CNA reached out to the five biggest property agencies by headcount for comment.<\/p>\n
Key executive officer of ERA Eugene Lim said the agency will step up legal and compliance training to reinforce that it is an offence to falsify transaction submissions.<\/p>\n
Committing such an offence may result in CEA revoking their registration, and they will no longer be able to conduct estate agency work after that, he said.<\/p>\n
He added that CEA will start collecting commission payment information from all estate agencies from next year, and can easily match this against the transactions submitted.<\/p>\n
\u201cIf an agent is found to record a transaction under another agent\u2019s name, he would have made a falsified submission, and that may likely constitute an offence,\u201d he said. \u00a0<\/p>\n
He added that three transactions over three years is not difficult to achieve, and that CEA recognises all types of transactions.<\/p>\n
Huttons Asia\u2019s CEO Mark Yip said the company expects all transactions submitted by its salespersons to \u201caccurately reflect the estate agency work carried out\u201d.<\/p>\n
The salesperson responsible for the transaction is expected to submit the relevant documents in accordance with CEA’s requirements, he added.<\/p>\n
\u201cOur internal processes are designed to support accurate record-keeping and regulatory compliance,\u201d he said.<\/p>\n
In terms of how the new requirements may affect headcount, he said the company expects the overall impact to be gradual, with the more noticeable effects likely to be around the next major renewal cycle.<\/p>\n
Chief agency officer of PropNex Realty Eddie Lim said the agency does not allow a transaction to be recorded under the name of a salesperson who was not genuinely appointed or involved in the transaction.<\/p>\n
The transaction submission is supported by relevant documents, including the prescribed CEA estate agency agreement or applicable appointment forms.<\/p>\n
These documents identify the appointed salesperson and are signed or acknowledged by the property owner or client and the salesperson concerned. This provides a formal record of the appointment and the salesperson responsible for representing the client.<\/p>\n
He added that any suspected inaccurate declaration or improper attribution will be reviewed under PropNex\u2019s governance and compliance processes.<\/p>\n
In practice, salespersons may work in partnerships or teams on the same side of a transaction to provide greater value to consumers, Mr Lim said.<\/p>\n
However, only one agent can formally record the transaction to meet the currency requirement. Other team members who contribute substantially through marketing outreach, buyer engagement, market analysis, consultation, negotiations, documentation and transaction coordination cannot record the transaction, he added.\u00a0<\/p>\n
\u201cBut when a consumer complaint comes in, CEA holds everyone responsible.<\/p>\n
\u201cPropNex intends to engage CEA on how the currency requirement could appropriately recognise genuine and documentable team participation without weakening the integrity of the framework.\u201d<\/p>\n
OrangeTee & Tie declined to comment, while SRI did not respond to queries.<\/p>\n
Mogul.sg\u2019s Mr Mak said the workaround may undermine CEA\u2019s governance of the property agency industry.<\/p>\n
\u201cThe \u2018borrowing\u2019 of real estate transactions among property agents not only misleads the public on the proficiency of the agents, but it also makes a mockery of the government policy and regulations,\u201d he said.\u00a0<\/p>\n
He suggested ways to plug the loophole, including raising the minimum number of transactions, strengthening auditing processes and increasing penalties for wrongdoing.<\/p>\n
\u201cYou have to make an example. Justice must be done and seen,\u201d he added.<\/p>\n<\/div>\n
\n
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