Can licensing turn property agents into professionals?

National Development Minister Khaw Boon Wan also mentioned in his blog that property agents used to be a ‘cowboy’ industry (operate without proper training or licenses). But after compulsory registration and licensing by the CEA, the number of complaints has fallen to 1 percent of all property transactions.

In the first place, why property agents are perceived as ‘cowboys’?

In western countries like the US, being a real estate agent is a respectable profession.

Real estate brokers and agents (work for brokers) are regarded as professionals in their area of expertise. Buyers and sellers, landlords and tenants, approach them for advice on matters related to properties. It is similar to patients visiting doctors for medical advice, or clients seeking lawyers for legal advice.

But in Singapore, many frown upon the job of being a property agent. Don’t get me wrong. An agent good in his/her trade earns nothing less than a senior executive in a big corporation.

Nonetheless, the general perception is that anyone can be a property agent, including those who lost their jobs or retired from their occupation. Some are part-time property agents. Many know their trade less than their clients.

With registration and licensing, have we changed our perception of property agents?

If not, what is missing here?

Traditionally, our society doesn’t hold the profession of personal selling in high regard. Giving a salesperson business is considered doing him/her a favor. The buyer and seller are seldom on equal footings.

That’s why a salesperson carries many titles in the business world: Account Manager, Relationship Manager, Channel Manager, Business Development Manager, Country Manager, etc.

A property agent is the middleman who goes in between two parties and earns a commission from there. However, landlords and sellers can also cut out the middleman and deal directly with tenants and buyers.

Whether it justifies paying the commission, different customers have different opinions. Things become subjective when it comes to what duties the agents are expected to perform, what services the agents are expected to provide, etc. That’s why there are so many complaints and dissatisfactions.

Getting a registration, passing the test to obtain a license are only the minimum criteria for a property agent to practice the trade. It implies nothing about whether the person is up to the job or not.

Do they have the relevant experience, knowledge and skills to help clients?

Can they save the precious time of clients by showing them how to do it right the first time?

Can they provide useful, neutral and timely advice?

Are they willing to go that extra mile to close the deal?

Do they have an eye for details to avoid any costly mistake?

Can they do a good job to follow-up after they receive their commission?

Afterall, the professionalism of a property agent is determined by whether he/she can add value in the process. And a customer defines a job well done.

So Mr. Minister, please try riding on the horseback in cowboy hats and boots to perform multitasks while avoid being reckless. I am sure that it is not as easy as dancing the horse riding moves in Gangnam Style!


Since 2006, my property agent has been helping me with all the leasing and selling of my properties. If you also need her help for your property matters, you can send me a request here.