08 Feb '18, 3am

Real estate industry to publish customer ratings of property agents, transaction histories

Real estate industry to publish customer ratings of property agents, transaction histories

SINGAPORE - Taking a leaf out of travel websites and ride sharing apps, the real estate industry is introducing customer ratings of real estate agents, and publish property transaction histories to improve transparency and enhance professionalism in the industry. The Council for Estate Agencies (CEA) is working with agencies to publish property transaction details - such as the price, location and the agent who closed the deal - and "TripAdvisor-like" customer ratings of the 28,000 property agents. It said this will allow consumers to find an agent who best fits their needs. The initiative will be implemented in two phases, starting with Housing Board transactions from the end of 2018, and for private residential transactions from the end of 2019. The measure was announced on Thursday (Feb 8) as part of the Real Estate Industry Transformation Map, which seeks to transform ...

Full article: http://www.straitstimes.com/singapore/housing/publishing-...

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