Getting License from Council for Estate Agencies (CEA) 2023
Registration Criteria for New Salesperson
Individuals who wish to join the industry as a salesperson must fulfill the prevailing registration criteria, which include passing the Real Estate Salesperson (RES) examination, and approach a licensed estate company to submit a salesperson registration application to CEA. Salespersons are not allowed to join more than one estate company at a time. CEA will take approximately 4 to 6 weeks to approve an application from the date of receiving the application and all the required supporting documents.
The registration criteria for a new salesperson are as follows:
1. Must be at least 21 years old
2. Must have a minimum of 4 GCE 'O' Levels passes or equivalent
3. Possess a pass in the Real Estate Salesperson (RES) exam or equivalent
4. Be registered with only 1 licensed estate agent
5. Must not be an existing licensee/Key Executive Officer of another licensed estate agent
6. Must not hold a moneylender's licence and not be an employee, director, or partner of a licensed moneylender
7. Undertake mandatory continuing professional development of at least 6 hours a year
8. Must be covered by a Professional Indemnity Insurance valid for at least one year from the commencement date of the registration.
9. Must not be in arrears with the Central Provident Fund (CPF) Board for Medisave contribution. Please click here to check if you have Medisave
10.Fulfill the fit and proper criteria under the Estate Agents Act
CEA shall determine if the person is fit and proper for registration after considering all relevant facts and matters. In the circumstances listed below, a person shall not be fit and proper for registration, unless CEA determines otherwise:
a. Where the person has been convicted of an offence involving dishonesty or fraud, or any offence under the Estate Agents Act
b. Where the person has had a judgment entered against him / her in civil proceedings that involve a finding of fraud, dishonesty or breach of
fiduciary duties on his / her part
c. Where the person is an undischarged bankrupt or has made a composition or arrangement with his / her creditors
d. Where CEA takes the view that a person is not fit and proper after considering any other relevant facts or matters
Note : The person is required to declare all prior convictions in a court of law (including a military court), in Singapore or in any other country.
Example: A person who was previously detained under the Misuse of Drugs Act or served with a detention / police supervision order under the Criminal Law (Temporary Provisions) Act would generally be deemed to be notfit and proper for registration, unless CEA determines otherwise after considering all facts and matters (including circumstances of the prior detention / supervision)
Regulated Industry = Professionalism & Competence
Get in touch with JJ Wong - Advisor | Trainer | Mentor who has been in the real estate industry for more than 10 years.
JJ Wong has consolidated his decade of experience into an exclusive program called 'Transcend Signature Program' which aims to help new RES / part-time agents to transcend into full-time and to achieve consistent result. You don't have to go through the same struggles with prospecting and sales that he did.
Drop me a HI! in whatsapp and share with me your bottleneck in real estate career or concerns you have in having breakthrough in your real estate journey.