30 Apr '13, 1am

New guidelines issued for Singapore property agents | | #singapore #property #realestate #agent

The Council for Estate Agencies (CEA) has published a professional service manual (PSM) which specifies the responsibilities and service standards required of all property agents and salespersons. “The PSM seeks to set clear standards and guidelines to ensure salespersons render their services competently, professionally and ethically, thus promoting open, fair and honest property transactions,” said Chan Mun Kit, Director (Regulatory Control) at CEA. Under the new guidelines, agents are required to conduct due diligence checks. If they are acting on behalf of a landlord or seller, they must verify that the client is indeed the property’s owner. This also applies to salespersons acting on behalf of tenants or buyers. In such cases, they must confirm that the people their clients are dealing with are the actual owners of the property. Agents must also be more careful when w...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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