About the Accreditation Scheme
Q1) What is the Accreditation Scheme for Real Estate Agencies?
The purpose is to raise the level of professionalism in estate agency work beyond licensing requirements. The scheme aims to ensure accredited agencies take responsibility for the acts of their agents & salespersons in their services to the general public.
Q2) Why do we need to accredit real estate agencies and agents when the government is going to step in?
The consumers are asking for it! In the Public Perception & Expectations of Real Estate Agents’ survey done by Ngee Ann Polytechnic last year with 1041 respondents, 96.6% believed that both accreditation and govt regulation are necessary. Accreditation has all along been voluntary and regardless of it not being mandatory, we have 400 accredited agencies and close to 9000 accredited agents/salespersons. As such we are the largest representation of estate agencies and agents in Singapore. Notwithstanding the announcement by MND on 7 May 2010, SAEA is still receiving steady streams of application for accreditation. Essentially, the government’s licensing and registration will apply to all estate agencies and agents compulsorily. SAEA’s accreditation complements the licensing and registration scheme as it is industry-driven. Also, SAEA’s mark of accreditation is now recognised by both the industry and the consumer public as a mark of having achieved high standards of competency and professionalism as a whole. Now with the additional value-adds through SAEA's enhanced affiliation with SISV, there will be more who will join SAEA.
Q3) How does SAEA's affiliation with SISV help its members?
SISV has existed since 1937 and is the most established real estate body in Singapore with international standing and reciprocity agreements with real estate and surveyor national bodies in other countries. Since SAEA scheme was first implemented in Nov 2005 till its formation as a public company limited by guarantee in 2007, SISV has provided seminal leadership to SAEA. Of course as the largest Multiple Listing Service MLS network in Singapore through its wholly owned subsidiary, SISV Services Pte Ltd, with 40,000 subscribers, SAEA hopes to leverage on this to help its accredited agencies, agents & salespersons into the future. One example is offering the package at the same preferential subscription rates as SISV members. This means accredited members can continue to use technology tools at lower cost to them.
Besides technology, SISV has much to offer in terms of professional upgrading and dispute resolution services in terms of training and assistance to put in place such mechanisms for accredited agencies. As for accredited agents and salespersons, through this affiliation framework, SAEA is able to draw upon SISV mediation expertise in conflict resolution between agent/agent and agency/agency or even agent/agency.
Q4) Who administers the Accreditation Scheme for Real Estate Agencies?
The Secretariat for the Singapore Accredited Estate Agencies Ltd, under the direction of its Accreditation Board, is responsible for all administrative and logistical matters pertaining to the Accreditation Scheme. These responsibilities include processing applications, notification of applications and all matters relating to SAEA Ltd.
Q5) Who conducts the Accreditation Assessment?
The SAEA Accreditation Board is responsible for the overall management and administration of the Accreditation Scheme including assessing applications of agency firms and persons for accreditation as accredited agencies and accredited agents/salespersons. For the purpose of the assessment, an assessment panel is established to examine the documents submitted and to conduct interviews if necessary.
Q6) What are the benefits for being accredited?
- Accredited Agencies will be identified by the designatory letters “Accredited Agency” with SAEA logo.
- Accredited Agents will be identified by the designatory letters “Accredited Agent” with SAEA logo.
- The general public will be assured of the competent services of accredited agents and accredited agencies.
- Regular workshops will be made available to keep them up-to-date with the latest developments and to share experiences in the real estate industry.
- Use of Dispute Resolution Centre for resolving agency-related disputes at a nominal charge.
Implementation Details
Q7) When will the Enhanced Accreditation Scheme for Real Estate Agencies and Agents/Salespersons come into effect?
The Singapore Estate Accredited Agencies Enhanced Accreditation Scheme was announced on 20 May 2010. Applicants may apply at any time for accreditation in a prescribed form obtainable from the Secretariat.
Q8) What are the requirements that an agency applicant has to meet in order to apply for accreditation?
Currently, the key decision-making personnel of the firm including directors must be duly qualified for the application. Other requirements are stated as follows:
- Applicant must continue to maintain duly qualified agents during the accreditation period. A grace period of 3 months will be given for the Applicant to replace the qualified agents who have resigned.
- The number of duly qualified agents must be gradually raised to 100% as stipulated by the Accreditation Board.
With effect from 2011, SAEA only accredits agencies licensed by the Council for Estate Agencies (CEA).
Q9) How long does it take for an agency applicant to be accredited?
An application that satisfies the stipulated requirements and accompanied with the required supporting documents will be processed expeditiously upon receipt of the application. An interview of the key office bearers/directors may be scheduled. It should take no more than 30 days for an accreditation application to be processed.
Q10) How long will an accreditation status be valid?
An accreditation is valid for 24 months upon approval.
Q11) What are the fees for application for accreditation? An approved application is subject to an accreditation fee depending on the size of the firm. The cost of accreditation is $350 (for an agency with 50 or less agents), $550 (for an agency with 51 to 100 agents), $860 (for an agency with 101 to 500 agents) or $1,100 (for an agency with above 500 agents). Fees quoted are inclusive of GST.
Q12) What are the functions of the Accreditation Board? Who sit on the Accreditation Board?
The SAEA Accreditation Board has been formed to manage the Scheme. The Board comprises a panel of industry representatives including senior members from professional bodies. The main function of the Board is to ensure accredited agencies and agents offering their services to the general public are equipped with the necessary knowledge and competence.
Q13) What are the functions of the Disciplinary Panel? Who sit on the Disciplinary Panel?
A Disciplinary Panel is established with the main function to hear complaints about accredited agencies, agents and salespersons. The Panel comprises industry representatives including senior members from the professional bodies. At each hearing, the Panel shall comprise 3 members.
The decision of the Disciplinary Panel shall be final subject to an appeal for expulsion cases to the Accreditation Board. After the hearing, the Panel may decide on the following courses of action:
- to expel the accredited agency or agent
- to suspend the accreditation
- to reprimand the agent
- or to dismiss the complaint
Q14) What is the role of the Dispute Resolution Centre?
With effect from I Jun 2010, SAEA will refer cases for dispute resolution to SISV. Accredited agents and agencies will be able to avail themselves of the services of the SISV Dispute Resolution Centre. The panel of mediators has undergone necessary training in mediation and is qualified to conduct mediation. An adjudication service is also available at the Centre.
Q15) What are the charges for a mediation session?
The cost of mediation services is currently $200, to be shared by both disputing parties. An administrative fee of $30 will be payable by the party which requests for the mediation. No counsel will be allowed to represent the parties in the mediation session. With effect from 1 Jun 2010, new charges may apply and parties shall be advised accordingly.
Q16) How does the Demerit System work?
Demerit point(s) will be issued to the accredited agency and accredited agent depending on the severity of the breach. An accredited agency that accumulates the stipulated demerit points within a period of 24 months will be suspended for 3 months. An accredited agency which has been suspended twice will be expelled from the accreditation scheme.
The allocation of demerit points to directors, partners, associates and brokers are as follows: Reprimand - 1 point, Suspension - 3 points and 6 points for Expulsion. The allocation of demerit points for accredited agencies is based on the total demerit points accumulated for agents and associates etc. in the agency firm according to the firm’s size, on a 24-month renewal basis: Small Agency (up to 10 agents) - 25 points, Medium Agency (11-50 agents) - 35 points, Large Agency (51 – 100 agents) - 70 points, and Very Large Agency (above 100 agents) – 100 points.
Q17) What is a suspension?
Suspension refers to an action when the accredited agent or agency will not be allowed to practise as an accredited agent or agency for the period stated, and will lose all benefits available under the scheme.
Q18) If the accredited agent or agency is suspended, can the paid accreditation fee be refundable?
The fee submitted is non-refundable or transferable.
Q19) If the accredited agent or agency is expelled from the Accreditation Scheme, can the agent or agency reapply?
If the accredited agent or agency is expelled, the agent or agency will generally not be allowed to apply for the accreditation scheme. However, the agent or agency may lodge an appeal to the Accreditation Board after a lapse of one year, giving reasons for the application.
Application
Q20) How does one apply for accreditation?
All applications for accreditation must be made by agencies (except for sole proprietorships where the agents may apply under their own agency firms). Applicants are required to submit the Application Form and relevant documents such as qualifications with the prescribed fee.
Q21) Can a CEHA-certified housing agent apply for accreditation?
In addition to accreditation given to agencies, individual agents may apply for accreditation as accredited agents. CEHA-certified and qualified agents who are accredited can use the designatory letters “Accredited Agent” with SAEA logo.
Q22) Must the applicant be a SISV or ASEA member before applying for accreditation?
Not necessary. But the applicant must be a holder of CEHA or CES qualification or its equivalent.
Q23) Does the applicant who is a SISV or ASEA member need to be accredited?
Yes, in order for him/her to use the designatory letters “Accredited Agent” and obtain the benefits provided under the scheme.
Q24) Why must an accreditation fee be paid?
The payment is for the administration of the accreditation scheme. In addition, subsidised workshops and seminars will also be arranged for Accredited Agents to upgrade themselves and to satisfy continuous professional development requirements.
Q25) If the applicant is unsuccessful in the first attempt to be accredited, can the applicant reapply again?
An applicant who does not meet the accreditation standards at the first attempt must ensure that the deficiencies are rectified before re-applying.
