CEA cautions unregistered agents

On January 6, CEA made an announcement, cautioning that any unregistered salesperson doing real estate agency work would commit an offence. CEA also cautioned registered salespersons not to engage these people as runners or assistants. Penalty includes a reprimand, revocation or suspension of registration, or imposition of a fine of up to S$75,000, or attachment of conditions to the registration. Real estate agency work is defined by CEA as work which involves dealing with buyers and sellers of property, negotiation of the transaction and any work after the purchase or sale of the property. Purpose of the announcement was to alert registered salesperson not to be involved with unregistered salesperson by being their proxy.

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