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Agency overview | |
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Formed | 22 October 2010 |
Jurisdiction | Government of Singapore |
Headquarters | 490, Lorong 6 Toa Payoh, HDB Hub Biz 3, #05-10, Singapore 310490 |
Agency executives |
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Parent agency | Ministry of National Development |
Website | www |
Agency ID | T10GB0001C |
The Council for Estate Agencies (CEA) was established on 22 October 2010 as a statutory board of the Ministry of National Development to regulate and develop the real estate agency industry in Singapore. [2]
The CEA is governed by a Council which comprises professionals and academicians from sectors related to the real estate agency and related industries, as well as representatives from government agencies involved in the administration of the property market.
The Council is assisted by five Committees – the Audit Committee, Disciplinary Panel, Human Resource & Finance Committee, Professional Development Committee and Select Committee.
In pursuit of its mission to raise the professionalism of the real estate agency industry and safeguard consumer interest, the CEA focuses on three strategic thrusts: effective regulation, industry development and consumer education.
The vision of the Council for Estate Agencies is to create a professional and trusted real estate agency industry.
The mission of the Council for Estate Agencies is to raise the professionalism of the real estate agency industry and safeguard consumer interest.
Since 1 January 2011, all property agencies and agents must hold a valid licence or registration respectively, if they wish to conduct any work relating to the sale and leasing of residential, commercial and industrial properties in Singapore.
The duties, business activities and conduct of property agencies and agents are governed by the Estate Agents Act and Regulations, which include the Code of Practice, Code of Ethics and Professional Client Care and the Professional Service Manual.
The CEA also assesses and investigates complaints of breaches or infringements of its laws and regulations through a complaint management process. For contractual disputes, consumers can make use of the Dispute Resolution Scheme if they have signed a prescribed estate agency agreement with a property agent.
Property agencies and agents who are guilty of unsatisfactory conduct or misconduct may be subject to disciplinary action before a Disciplinary Committee (DC). Those involved in more serious breaches may face court prosecution.
The CEA is also responsible for facilitating industry development within the real estate agency sector.
It introduced entry requirements and qualifying criteria, as well as mandatory examinations for those looking at establishing new property agency businesses or joining the industry as property agents. They are required to attend a compulsory Real Estate Agency or Real Estate Salesperson examination preparatory course before taking the respective examinations. As of April 2017, there are a total of 9 approved training providers for the Real Estate Salesperson course:
Benchmark Realpro | Hastor Property Services | Institute of Estate Agents, Singapore |
Life Mastery Academy | Pioneer Training & Consultancy | Real Centre Network |
Real Estate School | Realty International Associates | Singapore Estate Agents Association |
of which only 2 training providers:
Benchmark Realpro | Real Centre Network |
offer the Real Estate Agency course.
A key component of the CEA's industry development effort is the mandatory Continuing Professional Development (CPD) requirement. The CPD Scheme requires property agents to upgrade themselves and keep abreast of the latest changes in policies and procedures relating to real estate transactions.
In line with its philosophy that consumers must take a shared responsibility to ensure a smooth property transaction, the CEA reaches out to consumers through various platforms. These include events such as educational talks, expos, symposiums, seminars and community roadshows, as well as through the media.
The CEA has a Public Register of property agencies and agents. The Public Register can also be assessed via CEA@SG, a free mobile app. Consumers can check the Register to see if the property agency and agent they engage is licensed and registered.
Under the Estate Agents Act,
Real estate agents and real estate brokers are people who represents sellers or buyers of real estate or real property. While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by the state to negotiate sales agreements and manage the documentation required for closing real estate transactions. Buyers and sellers are generally advised to consult a licensed real estate professional for a written definition of an individual state's laws of agency.
An estate agent is a person or business that arranges the selling, renting, or managing of properties and other buildings. An agent that specialises in renting is often called a letting or management agent. Estate agents are mainly engaged in the marketing of property available for sale and contract reassignments, and a solicitor or licensed conveyancer is used to prepare the legal documents. In Scotland, however, many solicitors also act as estate agents, a practice that is rare in England and Wales.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need for real estate to be cared for and monitored, with accountability for and attention to its useful life and condition. This is much akin to the role of management in any business.
The Chinese Institute of Certified Public Accountants or CICPA is a professional accounting organization based in Beijing with oversight responsibility for accountants in China.
A licensed conveyancer is a specialist legal professional in the United Kingdom, New Zealand, Australia or South Africa who has been trained to deal with all aspects of property law.
The California Department of Consumer Affairs (DCA) is a department within the California Business, Consumer Services, and Housing Agency. DCA's stated mission is to serve the interests of California's consumers by ensuring a standard of professionalism in key industries and promoting informed consumer practices. The DCA provides the public with information on safe consumer practices, in an effort to protect the public from unscrupulous or unqualified people who promote deceptive products or services.
The Appraisal Foundation (TAF) is the United States organization responsible for setting standards for the real estate valuation profession. The organization sets the congressionally authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. The aim is to ensure appraisals are impartial, objective and independent, are conducted without bias and are performed in an ethical and competent manner.
Consumer Affairs Victoria (CAV) is a government agency that protects and promotes the interests of consumers and is based in the Australian state of Victoria. It is responsible for reviewing and advising the Victorian Government on consumer legislation and industry codes; advising and educating consumers, tenants, traders and landlords on their rights, responsibilities and changes to the law; registering and licensing businesses and occupations; conciliating disputes between consumers and traders, tenants and landlords; and enforcing and ensuring compliance with consumer laws. It is a business unit of the Department of Justice and Community Safety.
Cea or CEA may refer to:
OMVIC is a council that regulates motor vehicle sales, administers and enforces the Motor Vehicle Dealers Act on behalf of the Ontario Ministry of Government and Consumer Services (MGCS) in Ontario. OMVIC's mandate is to maintain a fair and informed marketplace, by protecting the rights of consumers while enhancing the professionalism of the industry, and ensuring fair, honest, and open competition for registered motor vehicle dealers.
The Ministry of National Development is a ministry of the Government of Singapore responsible for the formulation and implementation of policies related to the land-use planning and infrastructure development in Singapore.
The Division of Commercial Licensing and Regulation is the division of the Rhode Island Department of Business Regulation responsible for the licensing and regulation of real estate agents, brokers and appraisers, auto body & salvage re-builder shops, auto wrecking and salvage yards, travel agencies and travel agents, upholsterers, alarm system installers, auctioneers, liquor wholesalers, breweries, wineries, salespersons and agents, Class G (boat/airline/railroads) license holders, line-cleaners, and mobile and manufactured homes and parks. The enforcement of unit pricing, motor fuel advertising and health club pre-opening laws are also activities of this program.
Established in 1997, the Real Estate Council of Ontario is a not-for-profit corporation that regulates the trade of real estate in Ontario in the public interest. On behalf of the Government of Ontario, it administers and enforces the Real Estate and Business Brokers Act, 2002 and its regulations.
Engineers Australia (EA), known formally as the Institution of Engineers, Australia, is an Australian professional body and not-for-profit organisation whose purpose is to advance the science and practice of engineering for the benefit of the community. Engineers Australia is Australia's recognized organization for accreditation of professional engineering qualifications under the Washington Accord. As of 2022, EA has 115,000 members, which includes 31,000 students.
The New Jersey Department of Banking and Insurance (DOBI) is one of 15 principal departments in New Jersey government. The department's mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of these industries. The Commissioner of DOBI is Marlene Caride.
The California Department of Real Estate (DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement. Employees headquartered in Sacramento and in district offices in Oakland, Fresno, Los Angeles, and San Diego carry out the DRE's responsibilities as mandated by the Real Estate Law. There are 437,806 real estate licensees in California as of December 2022.
Singapore Real Estate Exchange (SRX) is a consortium of leading real estate agencies administered by StreetSine Technology Group in Singapore. The Exchange provides the prices of recently sold properties to participating real estate agents more rapidly than conventional, official channels run by the Urban Redevelopment Authority and Housing Development Board.
The Canadian Registered Safety Professional (CRSP)/ Professionnel en sécurité agréé du Canada (PSAC) is a certification offered by the Board of Canadian Registered Safety Professionals for an Occupational Health and Safety professional. The CRSP/PSAC is accredited in Canada to ISO 17024 by the Standards Council of Canada.
The Colorado Department of Regulatory Agencies (DORA) is the principal department of the Colorado state government responsible for professional licensing and consumer protection.
The Real Estate Authority (REA), formerly the Real Estate Agents Authority (REAA), is the New Zealand Crown entity responsible for the regulation of the New Zealand real estate industry as well as the agents within it.