Council of Estate Agencies (CEA) makes it very difficult to be Property Agent!!

[TakKiewPeng]

Tat's right, CEA makes it extremely difficult to be property agent. Geddit?

My property agent friend told me any new agent must take course from some approved course providers that conduct some RES course and pass exam. Course is so expensive, about $800. Also, problem is if the class in-take is too low, the course providers can cancel the course and you are left cock standing. Also, about the exam by NTUC Learninghub, so expensive. Problem is the exam is every quarter. By the time finish course and exam, property market also dry up in this economic crisis, tio boh?

He also told me those already are property agent and cannot make a living because property market is very bad now and leave the industry for more than 2 years must start from ground zero again, take course and exam....and the same shit happens.

He also told me that for those who have taken some professional real estate course during pre-CEHA time found out that such courses are not recognized by CEA. Equivalent qualifications accepted by CEA are bachelor of estate management, bachelor of building management and building management diplomas from polytechnics. As if these highly qualified people will become property agents after they graduate. CEA really out of touch with the property market. Really no brain. All these tough rules are like a greedy boa constrictor, squeezing the life away from anyone thinking of be a property agent.

Then there is the need to pay for annual licence.....not cheap at all. Another $300 dollars per year including registration. Worse than be an insurance agent. Need to take ongoing training some more, like 6 hours per year. All these training need to pay extra one you know.

CEA really kill the property agent job. Think become Uber or Grab taxi driver much much much easier. WTF!!

Agree up my points leh!

 

[congo9]

Real estate agent does not add value to a real economy. It's is better to send these people back to do some real work and rework the economy.

 

[TakKiewPeng]

Then you're wrong. Very wrong. Middlemen are needed in every trade. This is the eco-system, but this is not what this thread is about. Geddit?

 

[winnipegjets]

Then you're wrong. Very wrong. Middlemen are needed in every trade. This is the eco-system, but this is not what this thread is about. Geddit?

Why do we need middlemen? It is a want, not a need.

What added value does a property agent add to earn such high commission?

 

[johnny333]

If you want to work in Spore you have to feed the PAP & their cronies e.g. maids foreign worker levee
Even if you are a local you have to contribute to some chinese development fund & CPF.

That is why there is a $800 course & an annual fee of $300.
In the words of the PAP, what's wrong with making money?

Expect these costs to go up eventually because 70% have allowed the PAP to do it.

 

[krafty]

i think they want to train up a professional killer not an estate agent...

 

[chootchiew]

Why do we need middlemen? It is a want, not a need.

What added value does a property agent add to earn such high commission?

Some property agents will make the buying/selling process worst. Some examples :

1. There is a buyer willing to pay what the seller asking for but due to buyer does not want to have a middlemen for his buying part, seller agent refuse to sell.

2. Seller agent working in partner with buying agent to con those uneducated seller. Basically they will use the scaring tactic to physhco seller into believing that $x amount is hard to come by, selling below the actual market value. 2 agents then earn some kopi money from the buyer.

I believe there are many more unscrupulous method used. Property agent is the worst scum on earth.

 

[halsey02]

Then you're wrong. Very wrong. Middlemen are needed in every trade. This is the eco-system, but this is not what this thread is about. Geddit?

They just don't get it...in the name of "professional", they have muscle in & control every aspect of your lives & how to make a living, when you are down & out & want to change jobs to feed an expensive government first, then yourself. Your pocket is empty, your tummy is hungry, you have to pay $xxx for registration, pay $x,xxxx for the course, $xxx for license..pay $xxx to the Government aided company who hold the exams....all the way it is pay, pay & pay....might as well jump out of the windows right?

Now, you know which country now rank most expensive in the world for 2016?.....you have the most expensive government on this earth...
http://fortune.com/2016/03/11/singapore-expensive-cities/

What I am saying is, we have allowed ourselves to be "painted into a corner"....thanks to the clueless numbskull who keep voting for the same shits!...& craps!.

 

[TakKiewPeng]

Property market is presently flat, with many sellers and buyers holding out because of the cooling measures. But this is not all to it. The economy is also facing troubled times and manufacturing sector is expected to retrench staff in the tens of thousands.

In this backdrop, property agents also cannot survive as a livelihood and have no choice but to leave the industry to look for better jobs, but preventing them from doing so is the CEA ruling that if they leave the industry for mor than 2 years, they will have to start all over again. This is draconian and ricks of CEA not understanding the industry and just think for itself as a governing body that collects licence fee and turn a blind eye to the woes of a property agent.

Property market is essentially drying out and prices keep falling and transactions are few. Those who had to let go their additional property properties when the cooling measures came on board had already done so. The rest are holding on to negative equity.

CEA is not making it any easier for property agents but on the contrary, is making it much much worse for them. Terrible, my property agent buddy told me.

 

[winnipegjets]

Property market is presently flat, with many sellers and buyers holding out because of the cooling measures. But this is not all to it. The economy is also facing troubled times and manufacturing sector is expected to retrench staff in the tens of thousands.

In this backdrop, property agents also cannot survive as a livelihood and have no choice but to leave the industry to look for better jobs, but preventing them from doing so is the CEA ruling that if they leave the industry for mor than 2 years, they will have to start all over again. This is draconian and ricks of CEA not understanding the industry and just think for itself as a governing body that collects licence fee and turn a blind eye to the woes of a property agent.

Property market is essentially drying out and prices keep falling and transactions are few. Those who had to let go their additional property properties when the cooling measures came on board had already done so. The rest are holding on to negative equity.

CEA is not making it any easier for property agents but on the contrary, is making it much much worse for them. Terrible, my property agent buddy told me.

We should get rid of property agents or minimize their commission. They add so little value.

 

[TakKiewPeng]

We should get rid of property agents or minimize their commission. They add so little value.

Listen bro, no one puts a gun to your head and force you to engage a property agent. If you think you can get rid of the middleman, this is a democratic country. No law that says you can't go it alone.

 

[xebay11]

Some property agents will make the buying/selling process worst. Some examples :

1. There is a buyer willing to pay what the seller asking for but due to buyer does not want to have a middlemen for his buying part, seller agent refuse to sell.

2. Seller agent working in partner with buying agent to con those uneducated seller. Basically they will use the scaring tactic to physhco seller into believing that $x amount is hard to come by, selling below the actual market value. 2 agents then earn some kopi money from the buyer.

I believe there are many more unscrupulous method used. Property agent is the worst scum on earth.

You are a dinosaur, such practices do not happen anymore due to CEA registration. I love RE agents, pay them well and they will reward you 10 times over what you pay.

 

[virus]

You are a dinosaur, such practices do not happen anymore due to CEA registration. I love RE agents, pay them well and they will reward you 10 times over what you pay.

Thats the same love wendy lim showered on botak ong. Happy bonking.

 

[Brightkid]

Don't know about those who dislike property agents. Probably nothing to sell/buy? Or tried to save a fraction of commission but get screwed by them for thousands of dollars?

My property agents made/saved me lots of $! He sold my properties all above market values than what I can sell myself. And his excellent negotiation skill saved my lots too when buying!

What is the few percent commission of every dollar he made or saved for me? For every dollar he sell above my target, he get maybe 5 cents while I get extra 95 cents that I may not be able to negotiate for, assuming I pay him 5% Comm. For every couple hundred thousands he negotiated below market value, I technically 'earned' that amount even though I give him Comm when I no need to.

All these while, he does all the selling and search using their excellent negotiation and knowledge of market, while I just relax and count my dollars. Is how you leverage their expertise to your advantage.

Believe it or not up to individual but good property agents help increase chance of closing deal than direct buyer/seller negotiation as these parties want face and not loose out and negotiation most of times reached stalemate and gone case.

Win-win situation. Why grumble when they made 95% more of every dollar for you? For every hundred thousand dollars more they made/save for you, they only get $2,000 at 2% Comm, while you get/saved $98,000!

Most times, they have advance info when and what to buy, or sell, before others rushin to jack up prices or crash the market! Help reaped huge profit when I just need issue chequered while they do all the work!

Loved them deep deep and pay them very well!

 

[winnipegjets]

Don't know about those who dislike property agents. Probably nothing to sell/buy? Or tried to save a fraction of commission but get screwed by them for thousands of dollars?

My property agents made/saved me lots of $! He sold my properties all above market values than what I can sell myself. And his excellent negotiation skill saved my lots too when buying!

What is the few percent commission of every dollar he made or saved for me? For every dollar he sell above my target, he get maybe 5 cents while I get extra 95 cents that I may not be able to negotiate for, assuming I pay him 5% Comm. For every couple hundred thousands he negotiated below market value, I technically 'earned' that amount even though I give him Comm when I no need to.

All these while, he does all the selling and search using their excellent negotiation and knowledge of market, while I just relax and count my dollars. Is how you leverage their expertise to your advantage.

Believe it or not up to individual but good property agents help increase chance of closing deal than direct buyer/seller negotiation as these parties want face and not loose out and negotiation most of times reached stalemate and gone case.

Win-win situation. Why grumble when they made 95% more of every dollar for you? For every hundred thousand dollars more they made/save for you, they only get $2,000 at 2% Comm, while you get/saved $98,000!

Most times, they have advance info when and what to buy, or sell, before others rushin to jack up prices or crash the market! Help reaped huge profit when I just need issue chequered while they do all the work!

Loved them deep deep and pay them very well!

You got screwed and you still don't know ...there are not many property agents that add value ...5 percent given to them to do what? Why not a fixed amount?
Will any property agent accept $1k and if they are able to sell at the ask price, then earn a bonus? No, they won't. Why? Because they don't add value.

 

[johnny333]

I got my current place through an agent but I have no illusions that they are out there to make $$$.

The 1st realtor I contacted acted dumb when I asked about the vacant space next to the condo site I was interested in. I later found out that they were going to build another condo The agent obviously played dumb to make a sale:(

I'm not surprised but I expect a realtor to be honest with me & not try to hide relevant information just to make a sale.
I eventually closed the sale with another agent because when I wanted to buy the place, the original agent was busy.

When the property market was very hot I heard of abuses by property agents. They would use their contacts to be buyers instead of agents. These agents became the buyers of some of these properties & later resold at a higher price.

 

[halsey02]

I got my current place through an agent but I have no illusions that they are out there to make $$$.

The 1st realtor I contacted acted dumb when I asked about the vacant space next to the condo site I was interested in. I later found out that they were going to build another condo The agent obviously played dumb to make a sale:(

I'm not surprised but I expect a realtor to be honest with me & not try to hide relevant information just to make a sale.
I eventually closed the sale with another agent because when I wanted to buy the place, the original agent was busy.

When the property market was very hot I heard of abuses by property agents. They would use their contacts to be buyers instead of agents. These agents became the buyers of some of these properties & later resold at a higher price.

You have to do your own homework!.....I have been out of this for a damn very long time...when I was young, very young, I used to help a relative who used to buy properties....so I became some sort of 'field expert'....for example, see which direction the property faces the sun, check the neighbours, check the city master plan, check the land/building plans from Land Office ( now I think its another name), check the ROB ( register of business), check the OA records , check the property agent if any etc..

You want to have it easy....just trust the agent, you deal with...even though recommended .... is never truthful.....it is your money....how you gonna deal with it, it is your choice....so, you want the best for your money....you have to do your own homework...

 

[chootchiew]

You are a dinosaur, such practices do not happen anymore due to CEA registration. I love RE agents, pay them well and they will reward you 10 times over what you pay.

You think cea registration can stop all this shit? Both cases just happened 2 years ago to a friend as the buyer. Luckily my friend got some heart he refused to accept the strategy offered by the agents (both sides) . The seller is a non educated dark skin divorcee . My friend also didn't Lee port the agents to the authority since he is the gainer .
This type of agents one day will be Lee ported once they meet the right person.

 

[greedy and cunning]

Real estate agent does not add value to a real economy. It's is better to send these people back to do some real work and rework the economy.

not only that they do not add value ,
98% of them are scums like most politicians.

 

[TakKiewPeng]

not only that they do not add value ,
98% of them are scums like most politicians.

You know 98% of the property agents? Dun anyhow talk rubbish can or not?