Starting January 1, 2027, property agents in Singapore will be required to complete at least three property transactions over a three-year period to maintain their registration. Alternatively, agents can pass a refresher examination to fulfill this requirement. This change aims to ensure that agents remain active and knowledgeable in the industry.
The Council for Estate Agencies (CEA) is also extending the validity period for property agency licenses and agent registrations from one year to three years, beginning in 2027. This adjustment is intended to reduce administrative workload for agencies and agents.
To further enhance industry transparency, the CEA will start collecting commission data from property agencies on a monthly basis. This data will be aggregated and anonymized to provide prospective agents with better insights into the industry.
These measures are part of a broader effort to raise professional standards and improve consumer confidence in Singapore's real estate sector. By ensuring that agents remain active and informed, the CEA aims to provide consumers with reliable and up-to-date advice when making property decisions.
The CEA has also indicated that more than one property agent may be recognized in certain complex transactions, particularly commercial and collective sale assignments, subject to its assessment.
These changes reflect the CEA's commitment to maintaining high standards in the real estate industry and ensuring that agents are well-equipped to serve their clients effectively.