Source : The Straits Times, 21 Aug 2007
YET another unpleasant experience with property agents was highlighted in Ms Laura Thornton-Olivry’s letter, ‘Signed and sealed with a handshake, yet no deal’ (ST, Aug 18).
There have been many complaints against unethical agents recently, and the only assurance given by the authorities is that there are accreditation schemes in place.
I expressed my concerns in the letter, ‘Time to regulate property agents’ (ST, July 11), calling for control of property agents. Since then, many readers have offered their views in this Forum.
My letter elicited a joint reply from the HDB and the Inland Revenue Authority of Singapore on July 31, and a separate one from the Singapore Accredited Estate Agencies on the same day.
At best, the responses highlighted the existence of agencies to which a property agent can accredit himself or herself with, and the qualifications needed.
But they do not address the issue of the need to have more ‘teeth’ to rein in errant agents, including perhaps licensing them through legislation.
Accreditation is merely associating oneself with an agency and the person can choose not to abide by the rules.
There is no punitive action against an agent if he were to flout the rules, except being struck off from the register of the association. This is really a non-event.
We should not allow a few black sheep to tarnish the image of the real-estate industry.
It is a ‘jungle’ out there and the professional agents - I am sure there are many - and potential buyers and sellers need to be protected from the unscrupulous ones.
Teo Cheng Peow
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