Thursday, 27 June 2013

Pre-Requisites To Become Property Agent In Singapore

course in real estate
For a successful RES, you are required to have a property license and to obtain this you must opt a course in real estate, which will make you professional in RES. This course will give you a practical knowledge and experience on how to go with the difficult phases of life while dealing with agents and how to tackle with the people from all walks of life. By learning or getting trained in this specialization you also have:
·         Sound knowledge of concepts in real estate and agency practice.
·         The basic knowledge of the legal requirements, laws which govern property transactions.
·         Concepts of property, leasing, household laws, cleared in your mind as this course explains and provide you with the in-depth learning.

There is lot of scope in this field like flexible working hours, performance based commissions, etc.,but for this you need to qualify the following and need to know how you can apply for the license:
  •   Firstly one has to pass the RES examination, which involves 2 papers:  
§         Paper 1 where you have to answer 15 short answers, 70 MCQs. Paper 1 is of 100 marks.
§         Paper 2 has 2 parts, 60 MCQs in part1 and 60 MCQs in part2. First part is of 60 marks and second is of 40 marks.
  •   These both papers have to get cleared in order to get the license, or one has to retake for the failed papers.
  • For those who have done professional, degree or diploma course in real estate, must check with the CEA (Council of Estate agencies) that whether they can apply for the RES examination or not.
  •  Amateurs are required to attend a course, which is prior to the RES examination. By this, they will get an idea of the industry and they understand the concepts more clearly.
Along with clearance in RES examination, you should also have following conducts if you want to become a property agent in Singapore. Those conducts are:
  • Your age should not be less than 21.
  • You should have minimum of 4 GCE O’level passes or equivalent document.
  • You should not be an existing licensee or the key executive officer of some other approved estate mediator.
  • You should have a money lender’s license or should not be associated with a licensed money lender.
  • For at least 6 hours a year you should engage in continuing professional development, which should be covered by a Professional Indemnity Insurance, which is valid for at least one year from the beginning of the registration.
  • You should not be an un-discharged bankrupt or have entered into a composition or the scheme of arrangement with the creditors.
  • You should not have any convictions in a court of law in any country.
  • You should not have any reach or judgment that involves fraud, dishonesty, or breach of fiduciary duties against you under the Criminal law.
  • You should not be associated with any misuse of drugs or taken into custody with a police supervision order under the Criminal Law Act.
  • You should not be convicted of any offence under the estate agents Act.

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