CEA is working with the real estate agency industry to strengthen the industry’s professionalism and upskill the workforce. Together with providing higher transparency in the experience of property agents, we hope to inspire greater consumer trust and confidence in the industry.
| ||Publish property agents’ transaction records |
CEA has worked with the industry to launch the first phase of the Property Agents’ Transaction Records Initiative in January 2019. In this phase, completed resale transactions for Housing and Development Board (HDB) flats closed by registered property agents are made available on the CEA Public Register on CEA’s website.
From end-2019, we will publish property agents’ transaction records involving the renting out of HDB flats, as well as private residential sale/purchase and lease transactions.
Apart from strengthening professionalism, this will inspire greater consumer confidence by providing greater transparency in the track records of property agents.
In the longer term, CEA also plans to work with the industry to collect and publish consumer ratings of property agents to improve their accountability to their clients.
| ||Review Continuing Professional Development (CPD) framework |
CEA is reviewing the Continuing Professional Development (CPD) framework to ensure property agents upgrade themselves and keep abreast of the latest changes in policies and procedures relating to real estate transactions.
The review will include the development of a more structured approach to guide agents in achieving deeper technical knowledge and skillsets to perform duties in different segments of the property market.
This will ensure that property agents remain relevant in the changing business environment, and that they are equipped with the skills to handle digitalised processes.
| ||Prepare workforce for digital environment |
CEA is working with various agencies and trade associations to provide training programmes to upskill KEOs and property agents.
Together with NTUC LearningHub, CEA introduced a SkillsFuture for Digital Workplace programme contextualised for professionals in the real estate industry. The aim is to help real estate professionals gain new skills to remain relevant in the industry.
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View other Real Estate Industry Transformation Map initiatives to streamline and digitalise property transaction processes.