Property Agents’ Application Period Extended

SINGAPORE: The Council for Estate Agencies (CEA) said it would allow estate agencies and property agents, with pending submissions or whose applications are not in order, to act provisionally till the end of this month.

Some 813 property agents and 110 estate agencies have been granted this grace period. CEA urges these estate agencies and property agents to provide CEA with the supporting documents quickly.

“We do recognise that they do have transactions to carry out so we have come up with a provisional measure. We will be granting them provisional licence of up to end of this month – January 31 – where they will be able to carry out their transactions and their real estate agency work,” Purnima Shantilal, Director Licensing & Investigations, CEA.

These affected agents will be able to view their updated status on CEA’s Public Register by the middle of this week.

“Handling 32,800 applications can be quite a feat. With this one month, I think it will give them (CEA) a bit more time. It will also give us agencies a bit more time to get all the missing documents and attachments that are necessary, and get all our sales persons who have failed to provide information that is accurate or incomplete into the forms. And we can submit it back to CEA,” said Chris Koh, director of Dennis Wee Group.

Recently, Channel NewsAsia reported that some property agents were unhappy that the process of getting their licences was taking too long

“It’s not that it’s taking so long. In the month of December we were processing the 30,000 applications. And as for this current period, we will be taking about 2 weeks to process these applications,” said Purnima Shantilal.

To date, CEA has rejected 786 applications by property agents.

It has approved almost 1,300 agency licences while 28,800 property agents have been registered.

The CEA was formed in October last year as part of a shake-up of the industry.

Source -CNA/wk/ls

Food for thought: During last week when many were pending approvals, many deals were lost as well, as the affected agents could not practice thus clients left them for other agents. This was a great lost to some as certain deals were of huge amounts.

As an entrepreneur, nobody will care very much whether their income is affected, since CEA is overwhelmed by so many issues to address and the hot-line was practically not effective since people are put on hold for 45 minutes to an hour, me being one of those who held on the handset for 45 minutes and I gave up as I was “entertained” by a voice recorder. It was not pretty at all. So I empathised with those affected agents who still cannot practice due to pending status and I hope that all these can be resolved soonest as it is concerning one’s livelihood. Awesome! :)

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