Yes, clear sales and purchase guidelines vital

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On April 19, 2012
Last modified:April 19, 2012

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Straits Times: Thu, Apr 19

THE Council for Estate Agencies (CEA) agrees with Mr Jeffrey Law (‘Council should craft clear property brokering guidelines'; April 7) on the need to have clear guidelines to avoid potential conflicts between consumers and sales staff over sale cancellations.

We have prescribed estate agency agreements for the sale, purchase or lease of residential properties in Singapore. Both consumers and sales staff are advised to use the prescribed agreement as it protects the interests of both parties.

Sales staff are expected to act ethically and not impose any commission or fee on consumers without having explained and obtained their agreement to it. Consumers are advised to negotiate and agree on the terms of service, commission and any additional fees payable before signing the agreement.

If the consumer and estate agent/salesperson wish to include mutually agreeable terms and conditions not found in the prescribed agreement, they should include these as additional terms in the space provided or on a separate pink sheet of paper, in accordance with the terms of the prescribed agreement. The additional terms cannot conflict with, or otherwise vary from, the printed prescribed terms.

We have issued practice guidelines to estate agents/sales staff to clarify the use of the prescribed agreements.

Consumers can access our guide, Consumer Tips For Engaging A Real Estate Salesperson, on www.cea.gov.sg or pick up a free copy from the CEA’s office. The consumer guide highlights the use of prescribed estate agency agreements.

We thank Mr Law for his feedback and will take his suggestion into consideration when reviewing our consumer guide.

Yeap Soon Teck

Deputy Director (Licensing)

Council for Estate Agencies

Source: The Straits Times © Singapore Press Holdings Ltd

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