Overview

The Council for Estate Agencies (CEA) (房地产代理理事会) was formed on the 22nd October 2010 as a statutory board under the Ministry of National Development.

Established under the Estate Agents Act, CEA is empowered to administer the regulatory framework for the real estate agency industry. In addition, CEA is committed to raise the professionalism of the real estate agency industry through collaborative efforts with the industry on industry development programmes and protect the interests of the consumers through targeted public education schemes.

Our responsibilities are:

  • Administer the licensing regime for estate agents, including the registration of salespersons applied through licensed estate agents;
  • Regulate and control the practice of estate agents and salespersons in estate agency transactions;
  • Promote the integrity and competence of estate agents and salespersons through the Code of Practice, and Code of Ethics and Professional Client Care;
  • Develop measures to equip consumers with the necessary knowledge to conduct their real estate transactions prudently and with due diligence;
  • Conduct investigation and disciplinary proceedings in relation to offences and unsatisfactory conduct or misconduct in relation to estate agency work;
  • Administer the examination and continuing professional development framework

Key elements of regulatory framework under CEA

* Enhanced licensing for estate agents

Appointed Key Executive Officer (KEO)

  • Must be at least 21 years old
  • Have at least 3 years of working experience as a salesperson
  • Have completed at least 30 property transactions within last 3 years or who have sufficient experience in managing the business of an estate agent as an executive director or partner, chief executive or sole-proprietor
  • Must not be registered as a salesperson or be an existing KEO of another estate agent
  • Passed REA examination or possessed equivalent qualifications
  • Have minimum 4 GCE 'O' Level passes or WDA's Workplace Literacy & Numeracy (WPLN) Level 5 or equivalent
  • Undertake mandatory continuing professional development
  • Fulfill fit and proper criteria such as
    (i) Must not be an un-discharged bankrupt;
    (ii) Must not possess criminal records involving fraud or dishonesty;
    (iii) Must not have previous track record of complaints or convictions
  • Must not be a licensed moneylender or an employee, a director or a partner of a licensed moneylender

Business entity

  • Registered its business with ACRA
  • Not to register a name which is similar to existing estate agents
  • Put in place systems and processes to ensure proper management of business and salespersons
  • Covered under a valid Professional Indemnity Insurance for both business entity and salespersons
  • Must not be a licensed moneylender

* Registration of salespersons through their agents

  • Must be at least 21 years old
  • Must not be registered with another estate agent or be an existing KEO of another agent
  • Have minimum 4 GCE 'O' Level passes or WDA's Workplace Literacy & Numeracy (WPLN) Level 5 or equivalent
  • Passed RES examination or possessed equivalent qualifications
  • Undertake mandatory continuing professional development
  • Fulfill fit and proper criteria such as
    (i) Must not be an un-discharged bankrupt;
    (ii) Must not possess criminal records involving fraud or dishonesty;
    (iii) Must not have previous track record of complaints or convictions;
  • Must not be a licensed moneylender or an employee, a director or a partner of a licensed moneylender

​* Regulation on conduct of estate agency work

  • Code of Practice, Ethics and Professional Client Care
  • Standard prescribed estate agency agreements
  • No dual representation by same salesperson

* Mechanisms for discipline and dispute resolution

  • Disciplinary actions such as warnings, fines, suspension and revocation
  • Dedicated dispute resolution mechanism covering both mediation and arbitration

* Public education

  • Estate Agent Card
  • Online Public Register of agents and salespersons
  • Seminars, Forums and consumer guides for the public