What is a property agent?
Also known as real estate salesperson (RES), property agents are licensed professionals who assist individuals in buying, selling, and renting real estate.
Their primary responsibility is to connect buyers and sellers, and they receive payment in the form of a commission, typically a percentage of the property’s sale price.
The RES can act on behalf of either the buyer or the seller.
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Should my property agent be registered with CEA?
The Council for Estate Agencies (CEA) requires all property agents in Singapore to be registered with their respective property agencies.
If the RES operates without a licence, they can be fined up to S$75,000 and imprisoned for up to three years. The client may also be affected if an unregistered agent causes any trouble.
You can easily verify if a property agent is CEA-registered by checking for their unique registration number. This would be a six-digit code with an alphabet at the front and back.
You can instantly confirm their status by entering this code, along with their name or mobile number, into CEA’s Public Register. It’s important to ensure their personal information matches their CEA records to avoid being scammed by an impersonator. Cross-referencing the mobile number listed here against the number they’re calling or messaging you with is a crucial step of this vetting process.
It’s important to note that property agents are prohibited by law from representing both buyers and sellers in a transaction due to potential conflicts of interest that can arise.
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