SAEA was first launched as an accreditation scheme in Nov 2005 by the then Minister of State for Finance and Transport Mrs Lim Hwee Hua. Accreditation is a process established by a professional organisation or agency to enable a discipline to be recognised as having met certain prescribed standards. The process entails the following criteria: establishment of standards, development of evaluative criteria, training, monitoring of performance and enforcement of standards.In 2007, it became a public company limited by guarantee* to play its role as accreditation body more effectively and in Apr of the following year, mooted the Common Examination for Salesperson (CES) as a objective assessment of basic real estate competency.

Today, SAEA has accredited more than 400 estate agents and 9000 salespersons, making it the largest real estate body in Singapore. Also, more than 25,000 had taken CES when the examination ceased in Nov 2010. The Advisory Committee consisting of the head honchos of 9 leading accredited estate agencies, namely, (a) CB Richard Ellis (b) Dennis Wee Group (c) DTZ (d) ERA (e) HSR (f) Huttons Asia (g) Knight Frank (h) Orange Tee (i) Propnex, and representatives from Singapore Institute of Surveyors & Valuers (SISV) and Association of Singapore Estate Agencies (ASEA), is the most representative and regular platform for industry engagement.

SAEA also rolled out the Enhanced Accreditation Scheme together with SISV for the greater development of the estate agency profession. It has a MoU with SISV for industry development and professional enhancement.

The Estate Agents Act 2010 sets out to licence the estate agents and to register their salespersons. Businesses doing estate agency work are commonly referred to by the public as property or estate agencies. However, the term “estate agent” is used in the Act. The individual doing estate agency work and commonly referred to by the public as the property or estate agent is called the “salesperson” in the Act. As such, reference to agent in this website means "agency" unless otherwise stated.

Under the new regime, SAEA continues to play its role in promoting industry development initiatives, including education and training to raise the professional profile and productivity of their members.

*ACRA defines a public company limited by guarantee as "one which carries out non-profit making activities that have some basis of national or public interest, such as for promoting art, or charity etc. The Minister may approve the registration of the company without the addition of the word “Limited” or “Berhad” to its name."