As the government is implementing tough new regulations, thousands of property agents in Singapore are expected to bail out of the industry over the next 17 months.
The new rules will impose examinations and a basic educational standard on property agents.
Currently, there are no such requirements or mandatory examinations to become a property agent.
Though the new rules allow those property agents who do not meet the educational requirements to take an industry exam to earn qualifications, the immediate affect will be an exodus from the real estate industry, according to experts.
Experts estimate a drop of 25 percent to 30 percent in the number of property agents by the end of 2011.