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22-10-11, 19:07
http://www.businesstimes.com.sg/sub/news/story/0,4574,461073-1319054340,00.html?

Published October 19, 2011

CEA clamps down on errant estate agencies and agents

By UMA SHANKARI


INDUSTRY watchdog Council for Estate Agencies (CEA) has formed an inspection and compliance section aimed at detecting infringements and unethical behaviour, it said yesterday.

'Staff (in the new section) will carry out inspection and compliance checks to ensure that estate agents (property firms) have in place proper systems for management and supervision of salepersons, complaint handling, advertisement control and maintenance of proper records,' said CEA executive director Chionh Chye Khye.

'Our objective is to ensure that estate agents have proper management and supervision of their salespersons.'

Mr Chionh was speaking at a seminar for the key executive officers of property firms.

He said that as at end September, CEA had received a total of 1,239 complaints - or an average of five complaints a day.

CEA in June charged an individual for doing estate agency work without being registered. Over the next few months, it will prosecute several more individuals for similar offences, Mr Chionh said.

Within the industry, the watchdog will continue to take errant agents and salespeople to task. So far, CEA has issued more than 130 letters of advice or warnings to agents and salespeople.

It has also started disciplinary committee proceedings and one case is currently underway. More cases will follow in the next few weeks, Mr Chionh said.

Minister of State for National Development Lee Yi Shyan also revealed at the seminar that CEA will conduct a nation-wide survey to gauge public perception of the real estate agency industry. The survey will cover four areas including consumer satisfaction and expectations.

'The survey results will provide useful feedback on the standing of the industry and the experience and expectations of the consumers,' said Mr Lee.

'These findings will form a baseline and guide CEA in industry development and consumer education.'

Around 2,100 consumers are expected to be interviewed face-to-face, while 2,500 industry players will be interviewed via e-mail. The survey will be conducted by the end of this year.

The real estate agency industry is an important part of the property sector, Mr Lee said. Last year, the total revenue or commissions earned from property transactions by property firms amounted to more than $1.25 billion.

As at end September, there were more than 1,500 licensed property firms and 33,000 salespersons registered with CEA.