{"id":111814,"date":"2019-10-23T10:55:48","date_gmt":"2019-10-23T03:55:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/agents-professional-standards-have-improved-say-property-industry-players\/"},"modified":"2019-10-23T11:02:56","modified_gmt":"2019-10-23T04:02:56","slug":"agents-professional-standards-have-improved-say-property-industry-players","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/agents-professional-standards-have-improved-say-property-industry-players\/","title":{"rendered":"Agents\u2019 professional standards have improved, say property industry players"},"content":{"rendered":"


\nA CEA spokesperson has observed an \u201coverall decrease\u201d in complaints relating to agents acting against their clients\u2019 interest or unethically from 2017 to 2018.\u00a0
\nThe professional standards of real estate agents have improved over the years, said industry players after online criticism that some of the agents failed to help their clients and to act in their best interest.
\nThe criticism comes after PropNex Realty agent James Ngu has been fined $30,000 as well as suspended 12 months for unprofessional and unethical conduct by the Council for Estate Agents (CEA).
\nWith this, some Facebook commentators said agents like Ngu are not new.
\n\u201cAs (per) my experience, there\u2019re too many unethical and unprofessional property agents,\u201d wrote user Derrick Woon. \u201cThey only want money.\u201d
\nRELATED:\u00a03 Times Property Agents Broke The Rules (And What You Can Do)
\nThomas Tan, president of Singapore Estate Agents Association (SEAA), said it is unfair to paint the real estate industry with the same brush due to the actions of a few bad eggs, reported CNA.
\n\u201cImprovement is definitely something that we can work on,\u201d he said. \u201cBut if you talk about whether it\u2019s a market norm \u2013 I think it\u2019s not a fair statement to say that because of one or two persons\u2019 actions.\u201d
\nHuttons Asia research director Lee Sze Teck noted that agents\u2019 professional standards have improved since the CEA was formed in 2010, with agents now being more consultative with clients.
\nNonetheless, he acknowledged that the industry is not really 100 percent free of black sheep. \u201cThere will be some cases here and there,\u201d he said.
\nIn the last five years, complaints against the real estate industry stood at 153, with the number of complaints growing to 37 last year from 29 in 2017, revealed Consumers Association of Singapore (CASE) executive director Loy York Jiun.
\nHowever, a CEA spokesperson has observed an \u201coverall decrease\u201d in complaints relating to agents acting against their clients\u2019 interest or unethically from 2017 to 2018.
\n\u201cThese form a small proportion of the complaints that CEA receives,\u201d said the spokesperson, noting that majority of the complaints received last year involved service lapses such as poor communication and being late for viewings, which are not considered regulatory infringements.
\nIn fact, complaints received on agents \u201cnot acting in client\u2019s interest\u201d fell to 39 last year from 42 in 2017, while complaints on unethical conducts by agents declined to 26 last year from 43 in 2017.
\nMoreover, findings from CEA\u2019s 2018 public perception survey on the property agency industry indicated that consumer satisfaction with real estate agents has improved over the years.
\nIn 2018, 85 percent of consumers were satisfied with their agent\u2019s service, up from 2015\u2019s 79 percent, while 72 percent of consumers still intends to engage the services of a real estate agent in future transaction, an increase from 60 percent in 2015.
\n\u201cThe uptrend in consumer satisfaction with their property agents\u2019 services is an indication that the industry has made steady progress in raising its professionalism and ethical standards, and improving the service to its clients,\u201d said the spokesperson.
\n\u201cHowever, as with any other industry, there will always be errant individuals and companies. CEA will not hesitate to take the necessary and appropriate disciplinary action against such individuals and companies.\u201d
\nRead our handy\u00a0HDB Buying Guides\u00a0or find a\u00a0home on PropertyGuru.\u00a0
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Agents\u2019 professional standards have improved, say property industry players<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A CEA spokesperson has observed an \u201coverall decrease\u201d in complaints relating to agents acting against...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-111814","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-t5s","jetpack-related-posts":[{"id":111776,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agent-fined-and-suspended-for-unethical-and-unprofessional-conduct\/","url_meta":{"origin":111814,"position":0},"title":"Property agent fined and suspended for unethical and unprofessional conduct","date":"October 22, 2019","format":false,"excerpt":"\r James Ngu was fined and suspended by the Council for Estate Agencies (CEA) for trying to negotiate for a higher commission for himself.\u00a0 Ngu Ping Chuan James Ethan, PropNex Realty Pte Ltd property agent, was fined $30,000 for three violations of the Council for Estate Agencies\u2019 (CEA) Code of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44199,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ethical-issues-in-the-property-sector\/","url_meta":{"origin":111814,"position":1},"title":"Ethical issues in the property sector","date":"February 15, 2017","format":false,"excerpt":"\r To raise industry standards, the government has introduced stringent entry requirements to be a property agent. The government\u2019s implementation of a series of cooling measures to rein in spiralling home prices has significantly reduced transaction volume in the industry, leading to stiffer competition among property agents to secure the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75763,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/slight-rise-in-number-of-property-agents-this-year\/","url_meta":{"origin":111814,"position":2},"title":"Slight rise in number of property agents this year","date":"January 4, 2018","format":false,"excerpt":"\r There are now 28,571 registered property agents in Singapore. 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