Protecting property agents and consumers

Protecting property agents and consumers

Mr Palanisamy Ramadas called on the Council for Estate Agencies (CEA) to do more to protect property agents, and consider legislating commissions due to them ("Property agents don't have it easy"; June 1).

The CEA regulates estate agency work in Singapore, and ensures that real estate sales staff comply with the Estate Agents Act.

Consumers may choose to handle property transactions on their own or engage sales staff to do so. Consumers are more likely to engage the professional services of sales staff who have good knowledge of estate agency work.

The payment and amount of commission are contractual matters between the consumer and his sales staff.

To safeguard the interests of both the consumer and sales staff, the CEA has prescribed estate agency agreements for the sale, purchase or lease of residential properties in Singapore.

The CEA advises consumers and sales staff to use the prescribed agreements to put on record the commission agreed on by both parties.

Heng Whoo Kiat

Deputy Director (Licensing)

Council for Estate Agencies

This article was first published on June 19, 2015.
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