Professional Service Manual
The Professional Service Manual (PSM) is issued by the Council for Estate Agencies (CEA) as Practice Guidelines to estate agents and salespersons regulated under the Estate Agents Act (Cap. 95A) for their conduct of estate agency work in property transactions involving residential, commercial and industrial properties.
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. It also highlights the responsibilities and duties that salespersons must pay attention to when carrying out estate agency work in both the sale and leasing of property transactions.
The PSM is the result of collective effort and active contributions from the real estate agency industry, industry and consumer associations and relevant Government agencies. It represents a concerted effort in raising the professionalism of the real estate agency industry.
The PSM is developed by a joint Workgroup led by CEA, comprising members from the industry associations, namely Institute of Estate Agents (IEA), Singapore Institute of Surveyors and Valuers (SISV) and Singapore Accredited Estate Agencies (SAEA), representatives from estate agents, CASE, HDB and URA.
The PSM shall be read with reference to the Estate Agents Act (Cap. 95A) and the relevant subsidiary legislation, as well as the Practice Guidelines and Practice Circulars issued thereunder including the:
a) Estate Agents (Estate Agency Work) Regulations;
b) Estate Agents (Licensing and Registration) Regulations;
c) Estate Agents (Dispute Resolution Schemes) Regulations;
d) Practice Guidelines on Use of Prescribed Estate Agency Agreement Forms 1-8;
e) Practice Guidelines on Ethical Advertising;
f) Practice Guidelines on Options To Purchase and Sale & Purchase Agreements; and
g) Any other regulation, Practice Guideline or Practice Circular issued by CEA.
For the avoidance of doubt, definitions or abbreviations that are used in the Estate Agents Act (Cap. 95A) and its regulations would be applicable in the PSM.
The PSM seeks to elaborate upon the duties and obligations of salespersons and estate agents as specified in the Code of Ethics and Professional Client Care (CEPCC).
The PSM does not in any way limit or restrict the obligations of estate agents or salespersons as specified in the Estate Agents Act (Cap. 95A), including its subsidiary legislation and any codes issued thereunder, which shall continue to have full force and effect. Subject to this, if and to the extent that on any specific matter, the PSM is inconsistent with any prior Guidelines, the prior Guidelines shall be deemed to be varied and superseded by the PSM only to the extent of such inconsistency.
Estate agents and salespersons are required to comply with this PSM with effect from 1st January 2014. It may be referred to during investigations on any alleged professional misconduct or negligence and also in Disciplinary Proceedings.
Estate agents and salespersons are also reminded that they are obliged at all times to observe and comply with prevailing legislation and laws and, in particular, the Estate Agents Act (Cap. 95A) and its subsidiary legislation, which includes the codes governing professional practice, ethics and conduct. Estate agents and salespersons are also to comply with all the Practice Guidelines issued by CEA.
You can refer to the following prior to engaging an agent
* CEA's Consumer Tips for Engaging a salesperson
What is the Purpose of the Public Register of Estate Agents and Salespersons?
Terminology: Under the new Estate Agents Act
"Estate agents" mean estate agency businesses (sole proprietors, partnerships and companies)
"Salesperson" means individuals who perform estate agency work
The purpose of the register is to enable the public to make an informed decision when choosing a salesperson or estate agent by enabling consumers to:
Check whether a real estate agent is a licensed estate agent;*
Check whether a person is a registered salesperson;*
Know whether a real estate agent or salesperson has been disciplined by the Council within the last three years.
Know whether any awards have been conferred on a real estate agent or salesperson by the Council
*Estate Agents are granted licences by CEA and the salespersons of the estate agents are registered. They can perform estate agency work only if they have a valid licence or registration. In the Public Register, the validity period of the licence or registration is shown against the name of the estate agent or salesperson (Agent)
* Search more than 28k licensed Agents Here.
*All the Agents Name Lists are subject to Latest Information from Council for Estate Agencies (CEA). Click HERE for more information.