2017 Licensing

Posted by at 12 January, at 18 : 04 PM Print

2017 Licensing

Council for Estate Agencies

Media Release

10 JANUARY 2017

2017 LICENSING AND REGISTRATION EXERCISE

FOR PROPERTY AGENCIES AND AGENTS

As of January 1, 2017, there are 28,397 registered property agents and 1,286 licensed property agencies. At the end of 2016, 95 property agency licenses and 3,200 property agent registrations were nullified. Throughout 2016, the Council for Estate Agencies (CEA) issued licenses to 40 new property agencies and 1,189 new property agents.

The recorded number of licensed property agencies and registered property agents over the period of last three years is as follows:

   

 As of

1 Jan 2015

 

 As of

1 Jan 2016

 

 As of

1 Jan 2017

 

 Number of property agents
 

 30,830
 

 29,262
 

 28,397
 

 Number of property agencies
 

 1,369
1,369
 

 1,286

 

While giving the reason for decreasing number of property agents, Heng Whoo Kiat, the Director of Policy & Licensing at CEA said, “The drop in the registered agents points to a slight consolidation of the real estate industry following the present property market sentiments.  CEA has recognized the evolution of real estate agency industry market. Consumers’ lifestyles and preferences in managing their property transactions are shifting with technological innovations, which could change the demand for the services from real estate agencies.”

About Council for Estate Agencies

The role of Council for Estate Agencies (CEA) is to promote and regulate real estate agencies and develop professional real estate agents. It was established as a legal entity under the Estate Agents Act in 2010. The CEA is responsible for providing license to estate agents, registering real estate agencies and salespersons, promoting integrity and competence of salespersons and agents in the real estate industry, and providing consumers all the necessary information to make the right while buying and selling properties. You can visit www.cea.gov.sg for more information.

Business

Related Posts

Comments are closed.