ST : Real estate group unveils enhanced accreditation system

May 22, 2010

Real estate group unveils enhanced accreditation system

By Dawn Zeng

A REAL estate agency body has unveiled a revamped system of accreditation that allows its members to complement the Government's newly announced mandatory licensing scheme for the industry.

According to the Singapore Accredited Estate Agencies (SAEA), its enhanced accreditation role for estate agencies and agents seeks to further develop the industry in collaboration with the Singapore Institute of Surveyors and Valuers (SISV) - the national real estate professional body.

Under a new regulatory framework the Government announced two weeks ago, all property agents will need to be registered with the Council for Estate Agencies, a new statutory board that will also be responsible for licensing estate agencies.

SAEA said the enhanced accreditation would complement the new registration system set up by the Government.

'To be registered with the Council for Estate Agencies shall be a basic entry requirement into the industry, and that is only the beginning,' said Dr Tan Tee Khoon, chief executive of SAEA.

'Having the SAEA accreditation adds value to the agency, agent or salesman as having achieved the mark of professional business practice,' he added.

Accredited agencies of SAEA will get assistance in cutting business costs, developing leadership, engaging in professional upgrading courses and increasing their capabilities to compete not just in Singapore but internationally as well.

The two organisations will jointly organise continuing professional development courses for SAEA members. This will help to provide a pathway to SISV membership.

SAEA will also use SISV's existing mediation centre facilities.

SISV offers mediation services to its members, even in disputes between agencies and between agents, an area not addressed in the new regime, said its executive director, Ms Evelyn Chang.

'SISV remains committed to its role of nurturing and developing the estate agency industry. We fully support the Government's introduction of the new regulatory system in Singapore,' she said.