While the Council for Estate Agencies (CEA) has implemented a new policy requiring property agents to complete at least three property transactions over three years or pass a refresher examination for license renewal, some industry stakeholders express concerns.
Critics argue that the minimum transaction requirement may disproportionately affect part-time agents or those dealing with niche property segments, potentially limiting their ability to maintain their licenses. There are also concerns about the administrative burden and stress this policy may impose on agents.
Additionally, some question whether the requirement effectively measures professional competence, given that transaction quantity does not always equate to quality or ethical practice. The reliance on a refresher examination as an alternative pathway also raises issues about exam accessibility and content relevance.
Despite these concerns, the CEA maintains that the policy is necessary to uphold professional standards and protect consumers in Singapore's dynamic real estate market.