Nov 3, 2010
Weeding out rogue property agents
IT WILL take a few years before new rules aimed at weeding out rogue property agents drive down the number of complaints, the Consumers Association of Singapore (Case) said yesterday.
Case director Seah Seng Choon made the prediction as it emerged that property agents are among the 10 most-complained-about professions here. A code of conduct for the industry, announced last month, is being enforced by a new statutory body, the Council for Estate Agencies (CEA).
Mr Seah said: 'It'll take a few years for agents and consumers to be more familiar with the rules. That's when I expect the complaints to go down.'
He was speaking at a PropNex Realty convention at Suntec convention centre, where the firm's book, The Ultimate Guide To Real Estate Investment In Singapore, was launched.
Last year, Case received 1,079 complaints against property agents for unsatisfactory service and making misleading claims. This makes the industry the sixth most-complained-about sector. The three most-complained- about sectors last year were timeshare (2,523 cases), beauty (2,060 cases) and education (1,843 cases).
The CEA has the authority to fine, suspend or revoke the licences of property agents who break the rules. From Jan 1, only CEA-registered agents will be allowed to work.
The new code bans agents from representing both buyer and seller, or referring clients to moneylenders. They must also have a system for handling complaints and follow advertising guidelines.
CHERYL ONG
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