Property agencies are sending their agents back to school, as they are preparing for tighter rules in their industry.
Some are even urging their agents to take existing accreditation tests and attend preparatory courses to improve their chances of passing the mandatory industry examination, which the government will introduce sometime this year.
The talk is that agents who have already gained accreditation would no longer need to take the new examination later.
Chris Koh, director of Dennis Wee Group, said, “It’s only safe” to do so, as no one knows what the exact rule changes will be.
The government unveiled a set of proposals in October 2009 intended to lift the standards of real estate agents. One of the major reasons for such a move is the growing number of complaints against agents.
Some of the suggestions focused on introducing a compulsory entrance examination for agents and setting up a new accreditation body. Details of the changes were slated to be released early this year.
Given that it is currently not compulsory for agents to pass any standard test before starting to work, the new entrance examination would have a significant impact on the industry.
Typically, new agents would only receive training from their managers and attend courses run by their agencies.
Agents who opt to gain accreditation can select from the Common Examination for House Agents (CEHA), Common Examination for Salesperson Scheme (CES) or the Certification for Estate Agents (CEA) course.
Property agencies are now encouraging their agents to take one of these three tests before the new industry framework kicks in.
For instance, ERA Asia-Pacific has sent around 2,000 agents to take CES since September 2009. It has about 3,000 active agents in all.
Mr. Eugene Lim, associate director of ERA, said that the government has sent out a clear message about getting agents assessed. “There is more urgency now than previously.”
CES is being administered by the Singapore Accredited Estate Agencies body. Candidates have to pass two exams, on topics ranging from agent responsibilities and property rights to real estate financing, according to the CES website.
C&H Realty has sent more than 250 agents out of about 1,000 agents to obtain the CES or CEA certification. According to Mr. Albert Lu, managing director of the agency, there are other agents who have decided to wait for the new entrance examination.
Agents at Dennis Wee Group have been gearing up for the CES, CEA or CEHA tests. About 50 percent of the firm’s 4,000 agents have taken the tests, said Mr. Koh.
The Workforce Development Agency subsidized the cost of some of these courses.