Sep 2023 - 3 min read
This year’s SG Real Estate Agents Excellence Awards was graced by Minister of State (MOS) for National Development and Home Affairs, Associate Professor Muhammad Faishal Ibrahim as the Guest of Honour. The annual event, organised by the Singapore Estate Agents Association (SEAA), recognises successful and outstanding sales performance, as well as the high standards of professional and ethical conduct by real estate salespersons (RESs) across all estate agents in Singapore. It was held at Marina Bay Sands on 18 August 2023.
During his address, MOS Faishal underscored the crucial role RESs play in helping property consumers navigate one of their largest financial commitments, particularly when purchasing their homes. “For homebuyers, especially those looking for their first home, the property market can appear daunting. Fortunately, they can rely on you to act in their best interests and advise them so that they can make financial prudent yet rewarding decisions,” he said.
Recognising the demanding nature of the property agent profession, MOS Faishal added, “Besides familiarising yourself with the properties that you are marketing, you also need to keep up-to-date on changes in the relevant laws and regulations, the property market and housing policies… at the same time, you must also evolve and grow as trends and circumstances change. Digitalisation and raising productivity are key, but as individuals, you also need to invest in continual upskilling to match up to consumers’ rising expectations.”
Project ADEPT (Advancing and Enhancing Professionalism and Training)
To this end, MOS Faishal shared that the Council for Estate Agencies (CEA) has been working with the industry to develop and implement initiatives such as the recently announced enhancement of the Continuing Professional Development (CPD) ecosystem in May 2023 under Project ADEPT, which include:
- An increase of CPD training to 16 training hours per year effective from October 2025
- A blend of structured and self-directed learning to further expand the scope and depth of learning activities.
- Training requirements in prescribed essential topics for RESs such as laws and regulations governing the property market.
- Enhancements to the accreditation criteria for CPD course providers and CPD course instructional design requirements, and a more rigorous audit framework to ensure a consistently high level of quality.
- CPD course participants’ feedback submitted to CEA directly, which will be published on CEA’s website. Potential learners can use the feedback information to decide which courses to sign up for.
- CEA will introduce CPD courses that lead to formal certification of training received.
Digitalisation and Raising Productivity
Lastly, MOS Faishal commended estate agents for their progress in their digitalisation journey, with the five largest estate agents in Singapore having committed to achieve the Real Estate Industry Transformation Map (RE ITM) 2025 targets of 100% digital signing of property transaction-related documents and having all their RESs trained in at least one digital marketing tool or skill by 2025.
He emphasised that the Government will continue to support such digitalisation efforts through the SMEs Go Digital Programme. Over 150 small-and-medium sized estate agents have already tapped on this programme to adopt digital solutions and build digital capabilities.
Awarding Professional Excellence
Following his address, MOS Faishal as well as Executive Director, Council for Estate Agencies, Lim Chee Hwee and Deputy Executive Director, Council for Estate Agencies, Chan Mun Kit presented awards to award winners.
Adam Wang, President of the SEAA, said, “Recognising exemplary real estate salespersons for their professionalism, values and sales achievements are vital for the industry. It builds consumer trust through ethical conduct, nurturing lasting relationships and repeat business. Building up a positive image of real estate agents and salespersons in Singapore will go a long way to elevate overall service standards and foster consumer trust.”
Minister of State Faishal Ibrahim (center) with Executive Director, Council for Estate Agencies, Lim Chee Hwee (same row, right of MOS Faishal) and Deputy Executive Director, Council for Estate Agencies, Chan Mun Kit (same row, left of MOS Faishal) and RESs who received awards at the event.
Information accurate as at 21 Sep 2023