Keeping agents in line
Measures are in place to enforce industry standards
Letter from Tan Heng Huay
Deputy Director (Public Affairs)
Housing & Development Board (HDB)
and Lee Leng Kiong
Director (Corporate Communications), Inland Revenue Authority of Singapore (Iras)
We refer to the letter by Mr Teo Cheng Peow, “Putting the house in order” (July 11).
The HDB and Iras have been working with the Singapore Institute of Surveyors and Valuers and the Institute of Estate Agents to provide property buyers/sellers with more effective consumer protection, and support the drive of the real estate industry towards greater professionalism.
An accreditation scheme for real estate agents, the Singapore Accredited Estate Agencies (SAEA) Scheme, was set up in November 2005. It sets education and practice standards for estate agents and conducts disciplinary hearings to look into complaints against member agents and their agencies. We will continue to work with the SAEA on the scheme to improve professionalism standards.
To prevent flat buyers and sellers from being taken advantage of by unscrupulous estate agents, HDB conducts monthly resale seminars on policies and procedures pertaining to the transaction of resale flats. A comprehensive guide to the resale process is available on the HDB InfoWeb at www.hdb.gov.sg.
HDB has set up the e-Resale System, which allows resale flat buyers and sellers who transact without engaging housing agents, to submit resale applications and valuation requests electronically. Property buyers and sellers may check if a housing agent is licensed, or view the criteria for granting of a housing agent’s licence, at www.iras.gov.sg.
Those who need clarifications on the policies and procedures involving the transaction of resale HDB flats, can call HDB’s Sales/Resale Customer Service Line at 1800 866 3066, or visit HDB Hub during office hours. For enquiries on housing agents’ licences, they can call Iras at 6351 2465.
… and looking out for consumers
Letter from Manisah Jalil
Secretariat, S’pore Accredited Estate Agencies
We refer to the letter “Putting the house in order” (July 11). We understand the writer’s concern that is also shared by the public.
Our approach to assist in resolving problems involving unprofessional real estate agent conduct is through the Singapore Accredited Estate Agencies (SAEA) Scheme. SAEA was formed by industry professionals supported by government agencies in November 2005, to accredit property agents and agencies to raise industry professionalism and competence.
The SAEA seeks to ensure that by end-2008, all agents under the scheme pass the Common Examinations for House Agents and become Accredited Agents. However, the scheme may take some time to be accepted by the industry.
Accredited agencies and their agents adhere to a Code of Practice and Code of Conduct and Ethics. Disciplinary action will be taken against agencies and agents for any breach of these codes. The SAEA’s two codes and list of accredited agencies are listed on www.saea.org.sg. A search can be made to see if an agency or agent is accredited.
The SAEA does not condone agents avoiding co-broking to secure full fees from a buyer or seller. We urge potential buyers, sellers, landlords and tenants to support the scheme. We provide objective guidance and will act in the best interests of industry and public.
Source : Today - 1 Aug 2007
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