ST : More teeth in regulating real estate deals

Sep 2, 2010

More teeth in regulating real estate deals

I APPLAUD the appointment of Mr Soh Kee Hean as the deputy executive director of the new Council for Estate Agencies (CEA) ('Top cop to police real estate agencies'; Tuesday).

As the top man at the Corrupt Practices Investigation Bureau, Mr Soh has experience in tackling corruption-related offences and will help establish a no-nonsense approach in regulating the real estate industry.

Many consumer complaints about the real estate industry arise out of the absence of fair and widely accepted written agreements. It is easy for real estate agents to promise the sky and lead consumers to make decisions based on their words.

I recently complained about the conduct of an agent from an accredited real estate company. After hearing my complaint over the phone, the company's senior director was reluctant to initiate a meeting for the parties involved. He said it was a case of my word against his agent's, and that he could do little to help.

With the formation of the CEA and Mr Soh's appointment, I am hopeful again that many such 'verbal' cases can be resolved. Unlike most crimes that present physical evidence, prosecuting offenders in corruption-related offences often involve only verbal testimonials and other collaborating facts. I hope the landscape in which real estate agents ply their trade can be reshaped with the authorities coming in hard and fast.

Henry Ong