Make Accreditation Of Estate Agents Compulsory

Source : The Straits Times, Oct 22, 2007

I REFER to the letter, 'Accreditation scheme for estate agents exists' by Mr Charles Ee Hoon Kee of Asia-Elite Realty Network (ST, Oct 15).

While the accreditation scheme of the Singapore Accredited Estate Agencies (SAEA) is a good start, it is still not good enough because estate agents can still practise without any accreditation from SAEA.

The Institute of Estate Agents (IEA) has already started issuing practising certificates to its members.

While this is another step in the right direction, it is also not good enough because non-holders of the IEA practising certificate can also practise as real estate agents.

These piecemeal self-regulation measures by SAEA and IEA are good, but not good enough because they do not cover non-accredited agents and non-IEA members.

What we need is a central controlling authority that regulates and controls all practising agents.

To better protect the interests of the public, may I suggest:

SAEA's accreditation scheme and IEA's practising certificate scheme be made compulsory for practising agents; and

All estate agents be licensed individually (rather than on company basis), before they be allowed to practise as estate agents. This is to ensure they are personally accountable to the licensing authority for their individual actions.


Yeo Hock Chuan

CENTRAL AUTHORITY NEEDED
These piecemeal self-regulation measures by SAEA and IEA are good, but not good enough because they do not cover non-accredited agents and non-IEA members.

What we need is a central controlling authority that regulates and controls all practising agents.