What is the general impression of property consumers who have engaged a real estate salesperson (RES) of the profession?
What would motivate property consumers to engage an RES for a property transaction in the first place?
And what are some areas in which property consumers felt that RESs could improve further?
These are just some of the key questions asked in CEA’s Public Perception Survey (PPS) 2024. The survey was conducted between October and November 2024 to better understand what consumers and potential consumers perceive of estate agents (EAs) and RESs.
The survey findings also offer useful insights for CEA to support the real estate agency industry’s efforts in enhancing the professionalism of RESs and protecting the interests of property consumers.
The PPS polled more than 1,500 respondents, comprising over 1,000 property consumers who had engaged RESs in the past year to handle their property transactions and 500 potential consumers who have yet to engage RESs, but were considering doing so within two years of the survey period.
What are the interesting insights that can be gleaned from the 2024 survey, and how can the industry respond to these findings?
Consumers have a positive impression of the real estate agency industry
Overall, consumer satisfaction with the service provided by RESs has increased. 92% of property consumers surveyed were satisfied with their RESs’ service in 2024, compared to 77% (in 2021) and 85% (in 2018).
A higher percentage of property consumers rated RESs positively as compared to potential consumers (who have yet to engage an RES). This is likely due to consumers’ direct interactions with the RESs that they have engaged, which probably gave them a more favorable impression and an appreciation of the RES’ role in a property transaction.
Reasons property consumers engage RESs and their top considerations
Property consumers also shared the reasons they found value in engaging RESs, and their key considerations when deciding who to engage.
The top reasons consumers engaged RESs were for:
- Faster property transactions due to the RESs’ contacts and networks.
- Assistance with procedures and paperwork.
- The ability to secure better property prices or rent.
Property consumers considered the following factors as most important, in descending order, when appointing an RES:
- The reputation and track record of the EA that the RES is from.
- The reputation and track record of the RES.
- Positive online ratings and reviews of the RES by other consumers.
- Recommendations from friends and family members.
Compared to previous surveys, the 2024 PPS showed that consumers are increasingly looking at the reputation, track record and online reviews of RESs and EAs, instead of relying on friends and family for recommendations, which was the key consideration in previous surveys.
This could possibly be due to both consumers and RESs increasingly going online to look for information.
Reasons property consumers engage RESs and their top considerations
While property consumers were largely satisfied with the services provided by their RESs, they also cited these key areas for improvements:
- Understanding the needs of clients and offering relevant professional advice, particularly during the crucial introductory stage of transactions.
- Negotiating better prices and terms for their clients.
- Conducting relevant checks to ensure that the property transaction is carried out according to current laws and regulations.
In line with the last area that consumers cited for improvement, about 3 in 4 property consumers surveyed also expected RESs to facilitate at least one property transaction per year, to ensure that they remain familiar with the latest property transaction rules and guidelines.
Supporting the industry to raise its professionalism
It is clear from the PPS results that the real estate agency industry has to keep up with rising expectation of property consumers, through greater use of technology and professional upskilling.
To support RESs in raising their professionalism and enhancing the quality of Continuing Professional Development (CPD) training, CEA has started, since September 2024, to progressively implement the eight recommended measures put up by the joint CEA-Industry workgroup under Project ADEPT to enhance the CPD ecosystem for the real estate agency industry.
These include higher CPD requirements for registration renewal, training requirement in prescribed essential topics, enhancing the course accreditation and trainer requirements for better course designs, and improved class engagement activities.
CEA will continue to work closely with our industry partners, including EAs and industry associations, to raise standards in the industry and to give consumers greater confidence when transacting their property through an RES.
Look out for upcoming CEAnergy articles that will share further insights from the 2024 PPS.
Information accurate as at 24 June 2025