{"id":79460,"date":"2018-02-09T11:11:13","date_gmt":"2018-02-09T04:11:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/customer-ratings-and-transactions-of-property-agents-to-be-made-public\/"},"modified":"2018-02-09T12:03:23","modified_gmt":"2018-02-09T05:03:23","slug":"customer-ratings-and-transactions-of-property-agents-to-be-made-public","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/customer-ratings-and-transactions-of-property-agents-to-be-made-public\/","title":{"rendered":"Customer ratings and transactions of property agents to be made public"},"content":{"rendered":"


\nThe Real Estate Industry Transformation Map aims to improve transparency and accountability in the property sector.\u00a0
\nIn a bid to improve transparency and accountability in the property sector, the Council for Estate Agencies (CEA) will work with agencies to publish customer ratings of real estate agents, revealed Second Minister for National Development Desmond Lee in unveiling the latest roadmap for the real estate industry.
\nProperty deals closed by agents will also be made available for viewing by home buyers and sellers, starting with public housing transactions by end-2018 and private residential transactions by end-2019.
\nSEE ALSO: Slight rise in number of property agents this year
\nThe CEA-led workgroup will also work towards making it easier for companies to access property-related data, so that they could automate administrative processes in property transactions, reported Channel NewsAsia.
\nLee said data from Singapore Land Authority, the Ministry of Manpower and Housing and Development Board will be progressively made available later in the year.
\n\u201cIf we do this right, we can minimise the use of hardcopy documents such as cheques and cashier\u2019s orders, all of which are time-consuming to process.\u201d
\nHe noted that the facilities management and property transaction services sectors have been identified in the industry transformation map (ITM) as having \u201cimmense potential for transformation\u201d, especially in the areas of workforce upskilling and adoption of technology.
\nMeanwhile, property agency ERA Realty Network has expressed its support for the ITM.
\n\u201cERA has been in the real estate agency business for 36 years. As one of the largest agencies with significant market share, we are fully supportive of the Real Estate Industry Transformation Map (REITM). We look forward to work with the authorities and various stakeholders to move our industry forward together,\u201d it said.
\nSpeaker of Parliament Tan Chuan-Jin explained that the ITM\u2019s objective is to improve the efficiency of property transactions and not replace jobs, reported the Business Times.
\n\u201cWe don\u2019t set out to take away jobs; that\u2019s not the objective,\u201d he said during a panel discussion at the 2018 ERA Asia Pacific Business Conference, which was attended by over 2,000 agents and brokers from across the region.
\nAnd while agents may consider the government \u201cheartless\u201d for this move, the end-goal of the ITM is to improve the quality of life for all Singaporeans by making property transactions pain-free, he added.
\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…Customer ratings and transactions of property agents to be made public<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Real Estate Industry Transformation Map aims to improve transparency and accountability in the property...<\/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-79460","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-kFC","jetpack-related-posts":[{"id":102738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/record-of-agents-past-hdb-resale-transactions-now-available-online\/","url_meta":{"origin":79460,"position":0},"title":"Record of agents\u2019 past HDB resale transactions now available online","date":"January 7, 2019","format":false,"excerpt":"\r The data shows the track record of agents and how active they are in transacting HDB flats. Those keen to buy or sell HDB flats can now check the track record of their property agent online, after the Council for Estate Agencies (CEA) launched the first phase of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28769,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-people-becoming-property-agents-cea-report\/","url_meta":{"origin":79460,"position":1},"title":"Fewer people becoming property agents: CEA report","date":"October 6, 2016","format":false,"excerpt":"\r The number of property agents in Singapore fell by 1,583 in the year to March 2016, said the CEA in its latest report. The number of licensed real estate agents in Singapore fell to 30,423 in the year to March 2016 from 32,006 over the same period last year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agents-complete-record-of-residential-property-transactions-now-available-online\/","url_meta":{"origin":79460,"position":2},"title":"Property agents\u2019 complete record of residential property transactions now available online","date":"September 6, 2021","format":false,"excerpt":"\r The public can view the records of all property agents\u2019 transactions on the CEA\u2019s public register. Consumers can now view the complete record of all residential property transactions facilitated by property agents within the last 24 months. These records, which come under the Property Agents\u2019 Transaction Records Initiative, may\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/Property-agents-resized.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":40293,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-property-agents-agencies-in-2017\/","url_meta":{"origin":79460,"position":3},"title":"Fewer property agents, agencies in 2017","date":"January 11, 2017","format":false,"excerpt":"\r Poor market sentiment has contributed to a drop in the number of registered property agents in Singapore. (Photo: CEA) There has been a continuous drop in the number of licensed real estate agencies and registered agents in Singapore, as more agencies and agents exit the industry amidst a housing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Licensed-agents-and-agencies-in-Singapore-1024x314.jpg?fit=1024%2C314&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":38827,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-company-director-fined-215000-for-unlicensed-work\/","url_meta":{"origin":79460,"position":4},"title":"Property company, director fined $215,000 for unlicensed work","date":"December 22, 2016","format":false,"excerpt":"\r This is the largest fine handed down by the court for this offence. A property management company and its sole director have been fined a total of $215,000 for conducting unlicensed estate agency work, the largest fine ever meted out by the court for this offence, the Council for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44900,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/man-jailed-fined-23000-for-illegal-estate-agency-work\/","url_meta":{"origin":79460,"position":5},"title":"Man jailed, fined $23,000 for illegal estate agency work","date":"February 21, 2017","format":false,"excerpt":"\r Consumers are urged to engage only property agencies and agents who are licensed and registered with the CEA. 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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/79460"}],"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=79460"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/79460\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=79460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=79460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=79460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}