Back to Top

Contest questions for the 4/2018 issue

The Read & Win Contest for the 4/2018 issue of CEAnergy is now open till 31 January 2019, 11.59pm. You must be a CEAnergy subscriber to participate.

  1. Name one of the key areas that property agencies should pay attention to when they implement measures to counter money laundering and terrorism financing activities arising from property transactions.
  2. Which of these statements are true? (You may select more than one)
    • If a consumer chooses to handle his property transaction on his own, he can expect the other party’s agent to help him with the paperwork or render advice.
    • In a rental transaction, a property agent’s responsibilities end after the property has been handed over to the tenant.
    • Even if a consumer has agreed on a commission amount with his agent before the agent starts work, he can still change his mind about the amount anytime during or after the transaction is completed.
    • If a consumer has queries about matters such as property valuation or legalities, he should go to the subject matter experts for advice and not insist that his property agent advise on matters that are beyond his expertise.
    • When marketing foreign properties in Singapore, property agencies must confirm that guarantees made in property advertisements e.g. return on investments are binding on the developer.
  3. List three types of Type A advertisement infringements that property agencies must investigate and take action against their property agents.

Answer all the questions correctly in our online contest and you could win $30 worth of shopping vouchers! By participating in this contest, you are deemed to have agreed to our contest rules and regulations.

Hint: All answers can be found in this issue’s articles.

CEAnergy 3/2018 issue Read & Win Contest Answers and Winners

Here are the answers to our Read & Win Contest in the 3/2018 issue!

  1. True or False: The only reason for a need to review the Continuing Professional Development (CPD) framework review is the emergence of PropTech.

    Answer: False. The impetus for the review was driven by various forces and factors impacting the real estate agency industry. These included the emergence of PropTech and new business models, as well as changing consumers’ expectations and needs.

  2. After a property agency issues an “Important Notice to Purchasers” related to a foreign property, what does the agency have to obtain from purchasers before proceeding with the transaction?

    Answer: The agency has to obtain from purchasers a written acknowledgement that they are aware of the content of the notice before proceeding with the transaction.

  3. What is the current Additional Buyer’s Stamp Duty (ABSD) rate applicable to foreigners who intend to buy a second property?

    Answer: 20%

Congratulations to our winners:

  • Chua Lay Kwan SXXXX305I
  • Lee Hwei Kiat Stella R048314E
  • Lim Hock Sian Sebastian R046366G
  • Lim Yoong Chuen R001039A
  • Tay Yen Chang Aaron R058097C