Eight in every 10 consumers are pleased with the conduct and services provided by property agents, according to results of the first Public Perception Survey conducted by the Council for Estate Agencies (CEA).
A total of 2,260 consumers and potential consumers participated in the survey carried out from March to July this year, with seven out of 10 saying they plan to recommend their agents to others.
The study also found that 87 percent of resale consumers were satisfied with their agents, compared to 75 percent for rental consumers.
Moreover, consumers were aware of 72 percent of key industry practices and regulations. But awareness among potential consumers was lower at 59 percent.
Meanwhile, CEA conducted an online survey of 1,216 agents and 468 Key Executive Officers (KEOs) of estate agents to collect feedback on efforts to raise industry standards.
80 percent of those polled believe that CEA’s regulatory measures and enforcement of minimum eligibility criteria for agents helped elevate professionalism in the industry. 91 percent of agents also said the trainings; including the mandatory Continuing Professional Development courses were effective in raising professionalism.
The findings are expected to help CEA plan and develop new initiatives to improve the real estate industry and promote awareness of industry practices among consumers. The survey also identified certain areas of improvement for agents.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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