{"id":67340,"date":"2017-09-25T10:30:11","date_gmt":"2017-09-25T03:30:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agent-punished-for-flouting-cea-rules\/"},"modified":"2017-09-25T11:04:08","modified_gmt":"2017-09-25T04:04:08","slug":"property-agent-punished-for-flouting-cea-rules","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agent-punished-for-flouting-cea-rules\/","title":{"rendered":"Property agent punished for flouting CEA rules"},"content":{"rendered":"


\nIn the latest case, a PropNex agent was suspended for almost one year and fined $6,000 for flouting the rules when representing an elderly couple in the sale of their HDB flat. (Photo: CEA)
\nFor violating the Code of Ethics and Professional Client Care (CEPCC), the Council for Estate Agencies (CEA) has suspended PropNex Realty property agent Ng Ser Leong and imposed a fine of $6,000.
\nCEA\u2019s disciplinary committee imposed these penalties after the 44-year-old agent flouted two provisions under the CEPCC while representing an elderly couple in their 80s in the sale of their HDB flat.
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\nFirst, it was found out that Ng failed to verify if the female seller was fully aware of the transaction\u2019s consequences, as she is illiterate and suffers from an advanced stage of dementia.
\nUnder the CEPCC, estate agents must conduct their business and work with due diligence. But Ng neglected doing this when he failed to ascertain the consent of the person afflicted with dementia, who is considered a vulnerable client under the CEA\u2019s professional service manual as they are unable to make rational decisions on a property transaction.
\nSecond, it was discovered that Ng obtained the female seller\u2019s thumbprints on the option to purchase, an estate agency agreement, and an exclusive estate agency agreement. However, important information on these documents were left blank such as the purchase price, option date and the name of the buyer.
\nUnder the CEPCC, agents \u201cmust not ask or procure anyone to sign an agreement in which essential or material terms or information such as the property address, price, dates, names, and commission payable have been omitted or the relevant space for such terms or information is left blank or unfilled\u201d.
\nThe case only came to light after the elderly couple\u2019s children found out about the impending sale of the flat when the male seller was hospitalised, and the transaction was subsequently aborted.
\nFor violating the rules on having someone sign documents with missing key information and for breaching rules on due diligence, Ng was suspended for a total of 11 months. Each violation also comes with a fine of $3,000.
\nThe suspension period will run from 19 October 2017.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property agent punished for flouting CEA rules<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In the latest case, a PropNex agent was suspended for almost one year and fined...<\/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-67340","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-hw8","jetpack-related-posts":[{"id":26141,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-property-agent-fined-for-handling-clients-money\/","url_meta":{"origin":67340,"position":0},"title":"Former property agent fined for handling client\u2019s money","date":"September 15, 2016","format":false,"excerpt":"\r The cash amounting to $93,000 is the biggest sum involved, revealed the Council for Estate Agencies (CEA). 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Shakir Khan, a 56-year-old Singaporean, was convicted in court of two charges of conducting estate agency work without first being registered as a salesperson, or licensed as an estate agent by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26832,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bogus-agent-charged-for-unlicensed-real-estate-work\/","url_meta":{"origin":67340,"position":5},"title":"Bogus agent charged for unlicensed real estate work","date":"September 22, 2016","format":false,"excerpt":"\r Shakir Khan was arrested in March this year after CEA officers suspected he was conducting estate agency work illegally. A 56-year old Singaporean man was charged in court on Wednesday (21 September) for conducting estate agency work without a license, revealed the Council for Estate Agencies (CEA). Under the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/67340"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=67340"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/67340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=67340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=67340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=67340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}