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Guide to Becoming a Property Agent

To raise the standard of professionalism of Real Estate Agency, The Council of Estate Agencies (CEA) was formed on the 22nd October 2010 and it is empowered to administer the new regulatory framework for the Singapore real estate agency industry.

With the new requirement established under the Estate Agents Act, all property agents have to be officially registered. As at 1 January 2012, the Council for Estate Agencies (CEA) has licensed 1,487 Estate Agents (Agencies) and registered 30,577 Salespersons (Agents). Out of the pool of registered salespersons, 2,733 are new entrants to the industry last year.

Anyone carrying out estate agency work in Singapore, either for local or overseas properties, must obtain a license from the Council for Estate Agencies (CEA).

The following is a step-by-step guide on helping you to obtain the required license to be a certified property agent:

STEP 1   Eligibility Checklist
  • You are of minimum age of 21 years old
  • You are not holding a moneylender's licence or associated in any way with a licensed moneylender
  • You do not have any convictions in a court of law in any country
  • You are not an un-discharged bankrupt
  • You do not have any judgement that involved a finding of fraud, dishonesty or breach of fiduciary arrangement with their creditors
  • You have not been detained under the Misuse of Drugs Act or served with a detention/police supervision order under the Criminal Law (Temporary Provisions) Act
  • You have not been convicted of an offence under the Estate Agents Act
  • You are not an existing licensee/Key Executive Officer of another licensed estate agent
  • You have at least 4 GCE ‘O' level passes, equivalent or higher qualifications
  • You have passed the RES Examination by CEA or equivalent
Note:
  1. To be eligible to register as a Property Agent or Real Estate Salesperson, the answers have to be all YES for the above checklist. If you have any questions, please check with CEA or call Team Marshe hotline (+65-86666944).
  2. If you have not registered for the Real Estate Salesperson (RES) Course, please proceed to Step 2.
  3. If you have already taken the course and passed the RES Examination, please proceed to Step 4
STEP 2   Sign up for Real Estate Salesperson (RES) Course
The RES examination preparatory course organized by CEA is mandatory for all prospective agents before they take the RES examination.

Please note that only CEA Approved Course Providers will be recognised for licensing/ registration purposes.

Once you have completed the course with a minimum of 75% attendance, you will be given a Certificate of Completion.

Course Duration : 1 - 2 months
Course Fee Range : S$728 - S$1,048.60 Inc. GST

The following is a list of CEA Approved Course Providers for the RES Course

Institute of Estate Agents
Contact Details:
Website - www.iea.org.sg Tel No: 6323 1770
Email.: courses@iea.org.sg
Office: 480 Lorong 6 Toa Payoh, HDB Hub East Wing, #07-02, S(310480)

Real Centre Network Pte Ltd
Contact Details:
Website - www.realcentrenetwork.com
Tel No: 6511 3009
Email.: info@realcentrenetwork.com
Office: 490, Lorong 6 Toa Payoh, #09-16, HDB Hub Biz 3, S(310490)

Life Mastery Academy Pte Ltd
Contact Details:
Website - www.lma.com.sg
Tel No: 6255 6091 / 6255 6083
Email.: RES@lifemasteryacademy.com
Office: HDB Hub Biz 3, Blk 490, Toa Payoh Lor 6, #03-13, S(310490)

Singapore Accredited Estate Agencies Ltd
Contact Details:
Website - www.saea.org.sg
Tel No: 6293 6616
Email.: edu@saea.org.sg
Office: 371 Beach Road, #19-05 Keypoint, S(199597)

RIA School of Real Estate
Contact Details:
Website - www.riaschool.com.sg
Tel No: 6226 2000 / 6866 1106
Email.: admin@riaschool.com.sg
Office: 743 Lorong 5 Toa Payoh S(319457)

Hastor Property Services Pte Ltd
Contact Details:
Website - www.hastor.com.sg
Tel No: 6559 8888 / 6559 8886
Email.: llj@hastor.com.sg
Office: 3 Lorong 6 Toa Payoh #01-01 S(319378)

Pioneer Training & Consultancy Pte Ltd
Contact Details:
Website - www.pioneertraining.org
Tel No: 6462 6093 / 9424 3483
Email.: pioneertc@gmail.com
Office: 18 TradeHub21 #09-115 Boon Lay Way S(609966)

Real Estate School
Contact Details:
Website - www.RealEstateSchoolSingapore.com
Tel No: 6736 1305 / 6736 1318
Email.: course@rea.sg
Office: 100 Orchard Road Concorde Hotel & Shopping Mall #03-11 S(238840)
STEP 3   Register for Real Estate Salesperson (RES) Examination
The RES Examination is administered by CEA's appointed exam administrators, Informatics and NTUC Learning Hub. The appointed exam administrators shall carry out the registration of candidates, conduct the examination and also inform candidates of their results.

You will need to present the RES Course Certificate of Completion to CEA's Appointed Exam Administrators for RES Examinations Registration.

The RES Examinations will be held on the 2nd weekend (Saturday and Sunday) of every month. The frequency may change depending on demand. The exam itself consists of 2 papers and the given time is 2.5 hours.

The fee for each RES examination is $246.10 (inclusive of GST) per candidate, and $149.80 (inclusive of GST) per paper per candidate retaking the exam (with effect from the August 2011 RES examination).

To apply for the RES examination, candidates may register directly CEA's Appointed Exam Administrator for RES Exam:

Informatics
Website: www.exam-registration.com
Tel no: 6580 4582
E-mail: IAI@informaticseducation.com
Office: 133 Middle Road #04-01, Bank of China Plaza, S(188974)

NTUC LearningHub
Website: www.ntuclearninghub.com/res-exam
Tel no: 6471 2223
E-mail: enquiries@ntuclearninghub.com
Office: 73 Bras Basah Road #04-01 S(189556)
STEP 4   Find an Agency that caters to your needs
Having met all of the requirements and passing the exam, you must first get yourself enrolled into a Real Estate Agency before you begin agency work.

There are almost 1,500 Real Estate Agencies registered in Singapore. The top 10 agencies have some 1,500 agents to 4,500 agents. While some small ones could even be a One-Man show. How do you select a property agency and how do you ensure that you have made the right choice? Is it true that the bigger the better it is? Or can a smaller agency is better for the development of an agent?

You should do some research on the company to find out the strength of the agency and their market segment focus. Understand the kind of support provided by the agency - I.T., Marketing Tools, Administrative Support and of course, check the joining Cost, Commission Structure and Training Programmes that can help you to start your business.

Please check on the “About DTZ” in our website to see if this international property consultancy and agency suits you.

But before you decide and register with the agency, the next step is actually the most important…

STEP 5   Choose a Good Leader and Mentor
This business is much like apprenticeship. You learn from the master. We always believe: Mentor first, Agency second! It is your leader who is going to take care and guide you through your journey of discovering yourself in this business, your agency is merely a supportive role. Thus, your utmost task as a new agent is to search for a good leader who can provide with the right guidance and team work.

Now, how do I select a manager whom I can follow? How do I know whether the leader is good? Should I just go under the Number 1 Top Producer in the company?

Learning from the Number 1 is a good idea. But as far as we know, many top agents in the industry do not share their secrets. They usually keep the winning formula to themselves. Instead, you should look for a leader who are relatively good in sales, yet this person is willing to share, good at coaching and a strong leader that can motivate others and get the team to work together.

The best way to find out is to talk to the manager directly… Of course, you have to feel comfortable with this person. Check out more like how does he help his new agents to grow? What kind of trainings and activities that he conducts for his team? Any weekly or monthly Team Meetings? What is his vision and philosophy? What kind of management style? What are the main differences between him and other managers?

Try to attend their team meetings and interview his team members. If almost everyone in the team is genuinely positive about the leader and if you can also feel the positive energy within the team, then you choice of the leader and mentor should be a right one!

Ultimately your success should come from you! Your manager and leader are just a catalyst to help you to grow faster.

Find out more about Team Marshe.




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