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Saturday, January 23, 2010

Proposal Is Compulsory Accreditation For All Real Estate Agents

By Billy Chen

With low barriers to entry are 30,000 real estate Singapore's population of 4 million inhabitants. In combination with not-there is no requirement for a test or an examination for a job that probably explains the deterioration of services in the field of real estate.

In response to the market that is rapidly losing faith in the code is an indicator of the level of real estate services, announced the Government of Singapore to clean multi-access points in an effort to review the situation. The proposed solutions are: Industry leading accreditation body, Enforcement Agency, Dispute Settlement Court.

One significant part of the proposal is compulsory accreditation for all real estate agents. This accreditation body would be headed by industry veterans. And it would make public a central database of agents to conduct background assessment of agents they intend to employ.

This public search facility would hope to resolve the job hopping issue that went undetected previously and put a stop on agents with multi calling cards.

An enforcement agency is recommended in the proposal as well. The enforcement agency will be on the look out for errant agents and the responsible agencies. And it will also be responsible for handling out penalty in the form of demerit points.

To the people who are increasingly losing confidence in the current system, it is certainly timely booster. With the founding of the experts who lead real estate dispute settlement tribunal trying conducted a quick resolution of issues related to property and thus save money for everyone involved.

The government would an extra-judicial settlement of its first fund, but with time, cost and responsibility for the performance it will be released back to the industry.

If the number of reported complaints, it is expected that the court was convinced, as it begins its work. For this reason, the Government stresses that it is not a substitute for the existing courts in the Agency. This agency level, will meet the court continue its purpose and also as a gatekeeper of the official dispute resolution court.

It would still be at least some months away before the proposal can be fully implemented and be checked against its effectiveness. But the government acknowledged the fact that all parties in this dilemma must work towards improving the present situation and government would also facilitate the program through public education. - 23208

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