Council for Estate Agencies had a good year, says Khaw
Feb 02, 2012
Sheena Chua
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The clamp down on errant property agents appears to be working. The Council for Estate Agencies (CEA) reported that three of four complaints it received against agents were successfully resolved.
(About 75% of complaints lodged to the CEA were solved. Image courtesy of Thinkstock.)
According to The Straits Times, the watchdog has handled some 1,431 cases since its inception in October 2010. Of these, 75% were assessed, followed up with, and eventually closed.
Many cases involved the CEA sending letters of advice or warnings, said National Development (MND) Minister Khaw Boon Wan. However, the minister added that a handful have winded up in court or disciplinary hearings.
One particular court case evolved from a complaint against 45-year-old Tan Cher Peng. For posing as an unregistered salesman, Tan was slapped with a $32,000 fine and a one-month jail term in this January.
Most complaints revolve around misleading advertisements, unprofessional services and misconduct.
In a bid to better professional standards in the country, the CEA requires that all property agents register themselves. This nation-wide call was mostly answered: over 30,500 property agents have signed up by January 1 this year.
Now it seems educational levels among agents are on the rise. The Straits Times reported that 81% of new agents have attained tertiary education, up from the 53% figure among those already in the industry.
Agents also currently undergo six hours of Continuing Professional Development (CPD) programme every year, but the figure is set to increase in future. Sebastian Yeo of the Dennis Wee Group told The Straits Times, “I also feel six hours of CPD are not enough, and 12 hours would be better. I hope that the whole industry will be cleaned up in two to three years.”
Another pleased with the announcement is PropNex, whose chief executive Mohamed Ismail told The Straits Times, “I feel that this is a good start for an industry that has been unregulated for a long time. It may take some time as there are over 30,000 people in the business, but I feel that this will bring up the standards for the industry as a whole.”
The council has also implemented a few restrictions, which ban the use of misleading titles (like ‘specialist’ or ‘expert’), the use of figures in publicity material without clearly stated sources, and promising sellers a certain amount of cash premium.
In his Housing Matters blog, Khaw praised the council for having “had a good one year”. He noted that there was more to be done in the areas of rule refining, industry development improvements and consumer education.
The minister added that the government is also reviewing the mechanisms that the CEA uses to resolve conflicts in considering if the Small Claims Tribunal can play a role.
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Related Categories: Daily Property News and Updates, Real Estate Agents, For Agents
Tags: CEA, complaints, Continuing Professional Development, Council for Estate Agencies, CPD, Khaw Boon Wan, Ministry of National Development, MND, property agents, rules and regulations
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