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At the same time, additional measures are being explored to ensure more clarity on commissions and reduce prevalence of inaccurate, fake or unauthorised property listings so that consumers can make an informed decision.<\/p>\n
Higher standards improve the quality of advice consumers receive, but they do not guarantee that every listing is accurate. This is where the Housing and Development Board\u2019s (HDB) resale flat listing service can play a larger role. Because HDB is well placed to simultaneously validate sale intent and streamline the transaction process, its listing portal could become a highly reliable, verified backbone for the market.<\/p>\n
Authorities are considering enhancing the portal and potentially making it the default listing platform for HDB resale flats. They are also studying whether consumers should be able to list their own properties directly on property portals.<\/p>\n
While better information and accessible tools may encourage more owners to transact without an agent, they do not eliminate the value of professional representation.<\/p>\n
Property agents act as intermediaries during difficult negotiations. They also have to reject offers, communicate unwelcome information and shield their clients from confrontational exchanges or complaints. This human and emotional component remains difficult to replace with technology alone.<\/p>\n
The latest rule changes aim to create a more professional, transparent and trusted property market – one in which consumers receive current advice and are better protected when making one of the most consequential financial decisions of their lives.\u00a0<\/p>\n
It also protects property agents. Technology advancements will not make agents irrelevant but those who fail to keep their knowledge current may make themselves so.<\/p>\n