In an industry where the job entry barrier is set artificially low, it is perhaps no surprise that real estate industry has churned out all sorts of misfits and rogue agents. Their presence has indeed cost Singapore’s fine reputation as a well oiled engine.

With the alarming number of complaints, and often with a commission agent and dubious real estate development Ministry reacted the necessary countermeasures. The proposed measures are: Central approval and registration, legal framework, dispute resolution center.

A team of industry professionals would be tasked to oversee its operation.It will make registration mandatory for all agents and a database will be maintained to allow potential hirers to check the background of new job applicants.One key element in the proposal is Centralized Accreditation and Registration.

This is mainly to stop the situation of employment hopping between the agents, even illegally, with more jobs.

So that the muscles around the framework design is also introduced. The new engine would be responsible Dosage weakness points moving agents / agencies.

This is undoubtedly bring relief to consumers who discouraged by the current system. New court intended that the much-anticipated public confidence booster, real estate professionals to bring him sat. The goal is to minimize the costs lead from all sides, and subsequently to a rapid solution.

Initial funding for this dish comes from the government, but that will be transferred to the operation and the funds back into the industry.

But the government also stressed that this is not meant to replace the current agency level tribunal. The government would expect the current system to be in place and are looking to formulate guidelines and fine tune the process from this agency level tribunal to the official tribunal.

The implementation part of the proposal would be rolled out in phases and become fully operational. Policy makers are optimistic about the initiatives designed to address the dropping service level within the real estate industry and hopeful that it will eventually repair the damage done.

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