Innovation at Work (Really?)

TODAYonline | Hot News | Property 'runners' face severe penalties

"The CEA said that registered agents who appoint non-registered agents to do estate agency work may be brought before its disciplinary committee.

The committee could reprimand, revoke or suspend the offenders' registration. It could also impose a fine of up to $75,000 or attach conditions to the registration."

Non-registered agents are not registered because:

(1) They can't be bothered
(2) They failed the written test
(3) They do not meet criteria (e.g. criminal records etc).

So the next time, you use a 'property agent', better check whether he has been registered with the CEA.
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Regardless, the government, CEA, or some civil society should outline how a property seller can sell his property WITHOUT an agent, because:

• Legally, there is no need for an agent in such transactions. 
• Materially, most agents provide limited services, i.e. leverage on network to bring potential buyers. This can be easily overcome by the internet. Do not for a second think that it's more secure for agents to bring buyers into your home, than if you had sourced them from elsewhere. All are strangers.

It is silly to part with 1% to 2% of your home value (e.g. 2% of SGD700k = SGD14,000) for such little value-add.